RE:Good Read Damn1212 wrote: This is the Important part
where they write off 45 Million $ for the blade optics Tech
45 million $$ Poof ! Gone
https://stockhouse.com/news/press-releases/2019/12/24/nexopt
Non-Cash Impairment Charge
The Company announces that it has determined not to make further investments or pursue its initial square aperture and prism lens designs after reviewing the costs, benefits, and feasibility of commercializing such technology. Such technology comprised NexOptic’s initial technology, which the Company acquired in 2017. In terms of quality, performance, manufacturability, and cost, NexOptic’s latest lens offerings are far more desirable to consumers and industry partners alike. The Company has determined to focus its efforts on its core DoubleTake system as well as its artificial intelligence and software capabilities. As a result, the Company expects to recognize a non-cash impairment charge of approximately $45 million against its 2019 year-end financial statements in relation to the patent acquired in 2017. NexOptic continues to move forward with its immediate and long-term strategy, advancing its core existing lens systems and expanding its portfolio of patent-pending lenses and artificial intelligence technologies.
How many shares did you buy AFTER this ? Poof. Your money is gone ! Notice again they paid with shares. How many shares.. was it say 40 million shares? Today, at 2 cents, that cost $800,000. Is that a bargain now? Also note the dates on the calendar. The purchase was in 2017, the write off was year end 2019, reported early 2020. More than 2 YEARS later, not the 2 weeks you love to exclaim with such gusto.