Yapper Financials outhttps://www.sec.gov/Archives/edgar/data/1511735/000121390016012561/f10q0216_yappncorp.htm
Get out the popcorn.
Some Highlights.
3 month YOY revenue decreased from 900K to 100K. Gamification must be down.
The Christmas debt rollover came with 1 cent warrants. Congradulations yappn directors for your good deal for yappn directors...
Receivables decreased by 0.8% or $12,520.
I guess that was the amount DWF put down.
IF they put down that amount every three months and Yappn charges no interest (unlike their own loans); they will have the debt paid off in 114 more months. Congradulations Yappn investors....
Liabilities increased 92 times the DWF payment. I'm sure it was money well spent....
The lack of repaying the convertable debentures due in Jan and Feb caused the interest rate to jump from 6% to 16%. That is an infinte % more than yappn charges DWF on their debt to yappn.
The Company also re-priced 1,230,000 options previously issued to employees to $0.25 per share from their original pricing of $1.00 per share. Probably still a useless price but it keeps their employee happy.