Post by
dontbelievethehype on Mar 10, 2014 3:11pm
Smoke screen
The company has almost all of their 3.5 billion shares issued and outstanding...and you can see how they distributed it...the kicker is the last paragraph; Preferred shares...only in the pink sheets...enter the dictator, lol...for $5000 bucks, lol...too funny...but sad for common shareholders because it basically renders them mute...their ONE advantage, the old shareholder vote, taken away...
I read their last financials and they basically have nothing; a $75,000 down payment, they call a "prepaid asset for a deposit on a facility in Canada" ...whats left to pay down? And what will the reno/retrofit cost for a 26,000 square foot facility?
It seems as though their biggest asset is their Goodwill at $1.4 million...they have used stock to pay for EVERYTHING, and aquire everything else, so thats why there are so many shares out there (consolidation in their future for sure, probably going to have up their "available" for issuing too)...they lost $1.4 million last year, had $18,000 in the bank, and close to $3.5 million in accounts payable (liability)...all unaudited of course.
Anywho going to post the share issuances for debt/services/fees/aquisitions/purchases for those who want to know...chat later!