RE:RE:Someone brought it to my attention
Marski101 wrote: I think GrahamB bought Eat @ 0.06 on the last run and is alittle bitter. But that's okay, STAY CALM, we're all here to read each other's posts, and whether you accept it or not, that's your prerogative. Do your own DD, and people have a right to voice their opinion. Thumbs up old_dog, time for a little pre bed time cocktail for finale of the day. Cheers all, happy and smart investing.
You are kidding
You guys are playing games, where I deal in facts
Of course, any stock can run on speculation, but in the end, stocks trade on earnings
Did you even read the recent financials?
The auditors say...
‘Material Uncertainty Related to Going Concern
We draw attention to Note 1 of the consolidated financial statements, which indicates that the Company incurred a working capital deficiency of $20,563,341, spent $2,016,255 of cash for operating activities, had not yet achieved profitable operations, had accumulated losses of $69,546,199, had shareholders’ deficiency of $21,899,403 and expects to incur further losses in the development of its business. As stated in Note 1, these events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.”
www.sedar.com
The year ends yoy are scary...
Looking at the balance sheet, cash on hand has decreased from 1.4 million to about 240,000 k
Current liabilities are a whopping 23,664,632 vs 15m yoy
Shareholder deficiencies are 69,546,199
Revenues were 23 m compared to 12m an decrease of almost 50%
With a net loss of 22,088,621
Meanwhile over the last four years, share count is almost double meaning that you are diluted, reflected on the significant decrease in shareholders equity noted above
By the way, I am not bashing the company. I am simply stating the facts that they are giving you. In their words, on page 7 of the financials
“As at July 31, 2020, the Company had working capital deficiency of $20,563,341 (July 31, 2019 - $5,951,609), spent $2,016,255 (2019 - $12,114,629) of cash for operating activities, had not yet achieved profitable operations, had accumulated losses of $69,546,199 (July 31, 2019 - $47,457,578), had shareholders' deficiency of $21,899,403 (July 31, 2019 - $5,346,079) and expects to incur further losses in the development of its business, all of which describe the material uncertainties that cast significant doubt upon the Company’s ability to continue as a going concern.”
So yes, relax, take a chill pill, enjoy the ride.
Because this stock could do anything, if people were buy into this, if there is a market for it of course,…
Never underestimate the greater fool theory
But in the end, a business is a business, and if there is no earnings, it will be dependent on financing, and at some point the cash runs dry.
All IMO
'Do your own DD-and definitely don't trust me-I am a fool
But don't worry-this is one fool that isn't buying or drinking the koolaid
I will drop in every few months -when data is available(unless someone messages me to come back-which incidentally is why I ended up on many boards-including VPT from old dog)
That will leave the board to speculators who talk about where prices have been, wild preductions and to have fun
Take care, and good luck