Bucee's wont save taat from bankrupcy, why ? Simply they have a 118 million dollar defecit. For the last 2 years they have been promising the moon, but failing on every promise, every news release etc....
They lost 3 more million in the first quarter, 3.2 million this last quarter, had less than 476,000 dollars in cash to pay 7.7 million in current liabilites due in 5 months. Just wont be happening. Also taat has
no marketable securities, has to issue shares to pay people as they have no money, only spent 34 thousand on marketing last quarter, and 24 thousand on investor relations.
Ceo Saxon came in when stock was $1.20, after having fallen from $5.85.
Today saxon's results are a 13 cent stock price.
He cannot manage anything, he has failed at everything.
Blew taats only 10 million in cash last year leaving nothing for taat this year.....except of course
his exorbanent salary, stock options and consulting fees.
3 auditors in a year !!! That is not normal at all. Taat hiding things. Even the last auditor said if taat does not raise immediate and long term money, they will go bankrupt !
How they gonna do that when they are headquartered in usa and taat intl llc just went bankrupt.
You think anyone is going to lend to taat ?
And we have posters spreading misinformation on this board claiming taat has a credit line, but they refuse to show any proof of that statement. Most likely its from Adco, who taat gets 95% of their business from. And they only have a 5% margin, which is terrible. To sum it all up, taat has no money to fund expansion, pay bills, or rescue their business. Its too late. Badly mismanaged.