RE:Annual results mister beer specific"Management expects that this trend will be reversed within a reasonable period of time once a major national retailer is signed on to sell the MB Bottle Brew product or, in the absence of the national retailers, a sizable increase in the number of smaller retailers as well as the company's on-line purchasing portal."
Nothing there says a national deal is imminent.
Sorry to say, I cannot see a glimmer of hope in the financial statements. All the "data" divisions have reduced revenues except for "IT". The "IT"'s primary role and position is the in‐house development team for Armada’s B2C websites (CarCostCanada.com & MbBottleBrew.com) as well as the B2B website Armadadatacorp.com and ArmadaInsurance.com). Armada is paying itself to do business!!!! Maybe the company should be buying their beer too. Keep churning those revenues. Ha, ha.
The company has an overdraft of $200,000+. The company is required to maintain a tangible net worth of $1,500,000 (shareholders' equity minus goodwill and other tangible assets). As of May 31, 2013, the company is in breach of this financial covenant.
How do you think the person who was issued 292,323 shares at a price of $0.31 per share for Cybernet Finder Corporationfeels right now? The brew master got 2,000,000 shares at a price of $0.20 per share for the brewing company. He'd be lucky to get an average of 2 cents now.