Some Financial Info ACQUISITION OF QUENTIN VENTURES LTD. On
May 18, 2016, Quentin Ventures Ltd. and
Identillect Technologies Corp. completed the transaction whereby the Company acquired all of the issued and outstanding shares of Identillect Technology Corp., being 26,157,139 shares, in consideration for securities of the Company on a 1 for 1 basis.
Identillect Technologies Corp's accumulated deficit since 2016 is only ($9,741,549). | Year | Accumulated Defict | Increased By | |
| 2016 | -$6,837,124.00 | -$6,837,124.00 | in 2016 |
| 2017 | -$8,815,714.00 | -$1,978,590.00 | in 2017 |
| Sep-18 | -$9,741,549.00 | -$925,835.00 | in 2018 for the first 9 months |
As shown above the accumulated deficit has been increasing year after year. It has increased from 6.8 million to 9.7 million during the last three years. However, the amount of deficit for each year is decreasing, and this is due to ID's revenue continue to climb upwards year after year.
The accumulated deficit will disapear as they continue to generate more revenue in the future years. This is normal for any start up company. Do not be fooled by scammers on this board.