(Total Views: 402)
Posted On: 03/23/2019 9:35:54 PM
Post# of 29251
Good evening Mr. Stooge and Andi board. Just to clarify one of the issues that's being discussed ....
The series B shares... If you look at the quarterly report for the quarter ended October 31st 2018 on page 3 third bullet point down it says on March 26th 2018 the board of directors changed the price of the series B preferred stock from $2 per share to $0.002 then it goes on to further say... upon further review by New Management the proper documents to support this action could not be found and as such the transaction was deemed invalid and the price per share is $2 for the company series B preferred stock.
I remember this being a very large deal back then to myself and to some others and I remember it being mentioned in some of the blogs on both the sites and also mentioned on Yahoo finance...
It also goes on which I found very interesting...Note H on page 15 about the state income tax returns that they would have an estimated tax liability of zero based on the net income for the period and the current federal and state corporate income tax rates... which ment they earned absolutely nothing in that quarter. I believe they had $488 in the bank account their current total assets back then was 162,954 with liabilities that far exceeded that amount...If I can remember off the top of my head for that particular quarter ending October 31st they spent $30 in advertising... They were borrowing money constantly and hemorrhaging it for no reason.... They were leasing office space and for the whole quarter they paid $295 for rent and equipment... it was a month-to-month basis with no long-term obligation... this new financial report basically says the exact same thing which is,
Dear shareholders thank you for your cash.... You drank our Kool-Aid you sipped our tea and now it's farewell to you and me....
The series B shares... If you look at the quarterly report for the quarter ended October 31st 2018 on page 3 third bullet point down it says on March 26th 2018 the board of directors changed the price of the series B preferred stock from $2 per share to $0.002 then it goes on to further say... upon further review by New Management the proper documents to support this action could not be found and as such the transaction was deemed invalid and the price per share is $2 for the company series B preferred stock.
I remember this being a very large deal back then to myself and to some others and I remember it being mentioned in some of the blogs on both the sites and also mentioned on Yahoo finance...
It also goes on which I found very interesting...Note H on page 15 about the state income tax returns that they would have an estimated tax liability of zero based on the net income for the period and the current federal and state corporate income tax rates... which ment they earned absolutely nothing in that quarter. I believe they had $488 in the bank account their current total assets back then was 162,954 with liabilities that far exceeded that amount...If I can remember off the top of my head for that particular quarter ending October 31st they spent $30 in advertising... They were borrowing money constantly and hemorrhaging it for no reason.... They were leasing office space and for the whole quarter they paid $295 for rent and equipment... it was a month-to-month basis with no long-term obligation... this new financial report basically says the exact same thing which is,
Dear shareholders thank you for your cash.... You drank our Kool-Aid you sipped our tea and now it's farewell to you and me....
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