RE:RE:RE:RE:RE:RE:RE:financials out late last night...headed for bankruptcy?one of the many reasons why this is headed to 10cents or lower.
Aside from the bash burn, this is what you can find on the MDA:
On January 1, 2017 the Company issued 11,287,560 common shares to Igor Serov, in consideration of past consulting services provided, ascribed a fair value of $564,378. On January 2, 2017 the Company entered into consulting agreements (the “Consulting Agreements”) with Richard Buzbuzian and Jason Monaco, two individuals who are shareholders of the Company (collectively the “Consultants”) whereby each of the Consultants provide financial, strategic and advisory services to the Company. In consideration for the services rendered during the year ended December 31, 2017, each of the Consultants were paid a fee of $200,000 plus HST. Additionally, under the terms of the Consulting Agreements each Consultant is to be paid a fee of one percent (1%) of the value of the proceeds raised pursuant to any going public transaction to be paid within ten days of completion of a going public transaction. Each of the two consutlants participated in the January 26, 2018 private placement, each subscribing to 8,000,000 Units for subscription proceeds $400,000. (as described below) On September 29, 2017 the Company closed a private placement financing of Common Shares of the Company. The offering included the sale of 15,800,000 Common Shares at a price of $0.05 per Common Shares, for aggregate gross proceeds of $790,000. Certain finders received a cash commission equal to 10% of the gross proceeds of the private placement. On January 26, 2018 the Company closed a private placement financing of units of the Company (“Units”). The offering included the sale of 26,000,000 Units at a price of $0.05 per Unit, for aggregate gross proceeds of $1,300,000. Each Unit consisted of one Common Share and one Common Share purchase warrant exercis
EDMINNEMA wrote: I SEE THEIR COMPETITORS ADVERTISING ALL OVER YOU TUBE, NICE ADS, SIMILAR PRODUCT