Someone please tell me this company isn't really a publicly listed company. Please!
Do they really have a market cap of $58 million? With a whopping cash balance of $28,669? surely that number must be missing 3 more zeroes at the end? Oh wait they must have spent millions building some incredible software. Oops, once again someone forgot to add the zeroes because it says in their financials that they've only spent $781,316. They must have run out of ink when they were printing the balance sheet.
These guys are amazing wealth creators if they can generate $58 million worth of wealth by only spending $781,000. Oh but there is more....
"In July, 2013, the Company acquired a comprehensive universal unified communications
platform application program (the “Platform”) for a purchase price of $350,000 satisfied by the
issuance of 16,250,000 common shares of the Company at a fair value of $0.02 per share for
total fair value of $325,000 and by cash payments of $24,753. The Platform is still under
development as at October 31, 2014."
The asset really only cost $350,000 in the form of shares and a bit of cash? Wow, now I see why the promoters in Germany are so excited about this company. These guys can turn a near worthless piece of software into something worth $58 million just by putting into a near worthless shell. I'm calling my broker tomorrow and buying all I can.