prokofiev wrote:
So let's assume this is "a very solid company" (which believe is furthest from the truth), such a company would have good visibility and thus management's guidance should be close to actual numbers reported... correct? WRONG!
Management's initial revenue guidance for 2017 was to have $550M flow through their platform, and this before acquiring that new platform (forgot its name). Fast forward today, and the revenue generated in 1H17 so far has been $7.47M, meaning they need to generate $542.35M in 2H17 to meet the initial guidance. This is 1.36% of the original guidance!!! Doesn’t that seem odd, to say the least?
“As was the case in the preceding quarter, AST was the Company's only revenue-generating subsidiary in the second quarter of 2017. 100% of AST's revenues for the quarter were generated as a result of transactions conducted on the Gold River platform. Those transactions were again limited the processing of raw material orders which required no financial assistance. The noticeable decrease in such revenues from the previous period is attributed to the fact that very few orders which did not require financial assistance remained to be processed during the period. AST is hopeful that it will soon be able, with the arrival of ASFC, to meet its Gold River clients' purchase order financing needs.”
And... get ready for more dilution, at MUCH lower prices... I call that trick "Death by Dilution"
From the latest financial statements
2 - GOING CONCERN ASSESSMENT
These interim consolidated financial statements have been prepared on the basis of the going concern assumption meaning the Company will be able to realize its assets and discharge its liabilities in the normal course of operations.The level of revenues currently being generated is not presently sufficient to meet the working capital requirements. The Company's ability to continue as a going concern is dependent upon its ability to raise additional financing. Even if the Company has been successful in the past in doing so, there is no assurance that it will manage to obtain additional financing in the future. Also, the Company incurred a net loss of $1,693,421 for the six-month period ended June 30, 2017 ($815,534 for 2016), it has an accumulated deficit of $15,060,857 as at June 30, 2017 ($13,474,095 as at December 31, 2016) and it has not yet generated positive cash flows from operations. These material uncertainties cast significant doubt regarding the Company's ability to continue as a going concern.
Prokofiev
So let's assume this is "a very solid company" (which believe is furthest from the truth), such a company would have good visibility and thus management's guidance should be close to actual numbers reported... correct? WRONG!
Management's initial revenue guidance for 2017 was to have $550M flow through their platform, and this before acquiring that new platform (forgot its name). Fast forward today, and the revenue generated in 1H17 so far has been $7.47M, meaning they need to generate $542.35M in 2H17 to meet the initial guidance. This is 1.36% of the original guidance!!! Doesn’t that seem odd, to say the least?
“As was the case in the preceding quarter, AST was the Company's only revenue-generating subsidiary in the second quarter of 2017. 100% of AST's revenues for the quarter were generated as a result of transactions conducted on the Gold River platform. Those transactions were again limited the processing of raw material orders which required no financial assistance. The noticeable decrease in such revenues from the previous period is attributed to the fact that very few orders which did not require financial assistance remained to be processed during the period. AST is hopeful that it will soon be able, with the arrival of ASFC, to meet its Gold River clients' purchase order financing needs.”
And... get ready for more dilution, at MUCH lower prices... I call that trick "Death by Dilution"
From the latest financial statements
2 - GOING CONCERN ASSESSMENT
These interim consolidated financial statements have been prepared on the basis of the going concern assumption meaning the Company will be able to realize its assets and discharge its liabilities in the normal course of operations.The level of revenues currently being generated is not presently sufficient to meet the working capital requirements. The Company's ability to continue as a going concern is dependent upon its ability to raise additional financing. Even if the Company has been successful in the past in doing so, there is no assurance that it will manage to obtain additional financing in the future. Also, the Company incurred a net loss of $1,693,421 for the six-month period ended June 30, 2017 ($815,534 for 2016), it has an accumulated deficit of $15,060,857 as at June 30, 2017 ($13,474,095 as at December 31, 2016) and it has not yet generated positive cash flows from operations. These material uncertainties cast significant doubt regarding the Company's ability to continue as a going concern.
Prokofiev