Q1 2019 Not ImpressiveIt is very quiet around here.
Did anyone take a look at the company's 2019 Q1 numbers? It's not impressive. The company recorded a $1.2 million loss. That was expected. If you pay attention to the small details of the financial statements you will notice that things aren't going well. More losses should be forthcoming.
Won't go into all of the details but the MD&A is a farce and is an insult to investors and their intelligence. It contains quite a bit of misleading information and either omits or glosses over a lot of detrimental issues. As examples, IMO is not recognized as a fibre by the FDA, the compnay is not able to sell its product in Canada, the ever increasing US tarriffs on Chinese products, or how manufacturing the product - that is supposedly being produced in Edmonton - is costing the company at least ten times more than what it costs them to purchase an indentical product from Chinese manufacturers (essentially, the $12+ million dollar Edmonton plant and its extremely costly "Canadian" product are not competitive at all).
BioNeutra and its mamagemrnt team are not competent nor honest. Investors need to stay away.