RE:Financials Are Out i'm not sure how anyone can support this company with it's current management team.
- Jim Payne & Jean-Pierre lied to shareholders in much of their literature and at the last AGM and on many other occasions
- dynaCERT loaned money to Jean-Pierre with shares as security but immediately sold off the shares and that loan has been wrote off
- dynaCERT loaned & invested (multiple transactions) with 'Galaxy Power' and 'Galaxy Placements' (Jim Payne & Jean-Pierre are chairman & CEO) and wrote off these loans as well
So you have a management team that is dishonest and literally robbing shareholders in plain sight, reflected in their audited financial statements.
Recently heard some grim tidings from one of their last active dealers. I think it's likely this will continue to decline and probably even go to zero.
Adam999 wrote: Q1 financials are out. Same old same old. 11 units shipped. $97k revenue, but had cost of goods sold of $575k, so they are losing significantly on every unit they sell - further indication the units still do not work.
- Cash burn in the quarter of $2.5 million. Cash remaining is $5.8m (as of March 31), company has about 6 months of cash left
- KarbonKleen is basically dead. Has zero cash, $200k current assets and $1.3m current liabilities. DYA wrote off their entire investment and resigned from their board. Shipped zero units in the quarter. Sofina is a client of KarbonKleen so not sure where that leaves them.
Everything else is more or less the same old. Once again I advise extreme caution here. As many are aware we are in a brutal market and this company is nearly out of cash. Will need to raise within 6 months and will result in major dilution and a further declining share price, if the company is able to raise funds at all. Bankruptcy risk is high. Watch your risk and be willing to stomach the loss of all your funds here.