Omni Commerce Corp CCTXF

RE:RE:RE:RE:Tanker

[ctblizzard]

From my perspective the bag line could still succeed. People like them and sales should come in at 1.2-1.3 million for the year.  The problem is how KR was doing it. Sucking a lot of money out for himself and spending the rest. Remember when we raised the 1.2 million and had virtually none of it left the end of the quarter? You just cannot operate like that.

So if the bags get marketed in a different way, and KR takes a more modest mgmt fee approach but in turn does not have to cough up much money this thing could turn.

The problem is certain facts should have been presented to shareholders...

1- They say they bought Mekenix and that they had started working with Victory Square beforehand. In what way? What were they doing? Do they even exist as an entity in CA (I couldnt find them). I am almost ready to send someone over to their address in Santa Monica. To me given that their website just went up earlier this year they couldnt have been doing too much. They also say they have some system for sales, but for who? When?

2- We were told there were quality issues (again) with some of the bags but never updated.

3- They have an ambassador program but one of the recent announcements said something about the lack of product might affect existing relationships.

4- Greyhours - due to launch this sale channel in June... nothing yet , 9 days left to go.

5- Principals in Mekenix seem creative enough but honestly I see no prior experience selling product and it looks like they are just hooking up looking for an intern or interns to work a "few day a week" in Santa Monica.

6- He talks about Shopify and people not having a good way to connect customers to products, but I cant imagine people want to spend 25% of sales to do that.

7- We have no plan for cash for the coming months and KR unloaded a lot of his stock "seeking to diversify". Seeing that someone seemed to be around to buy that stock I wonder if there is some connection between his stock sale and this deal.

In any case it seems like the days tick by slowly until real info comes out in the next few months. 

Of all this stuff the thing that aggravates me even more than anything including the stock price decline is that I knew (and mentioned) that everyone that posts pictures or memes of stuff like "let success be my noise" and other such nonsense always turns out to be more full of themselves than with good ideas and I should have gone with my gut.

Now we one up that stuff with pictures of Sushi and chess pieces looking into the mirror and "tomorrow will be a great day" etc.