Unbelievable
Post# of 45510
Posted On: 09/08/2014 2:06:48 PM
How about a bigger question - where is the Q, how many shares are outstanding, how can any company succeed with one employee who is as busy as a one armed paper hanger.
Why did the company switch accounting firms if there was no disagreement? At least before the financials were on time.
How can this company grow and ever succeed with the financing done with the whores who put up money and then convert their stock at a huge discount? At these prices with a 50% discount, they are converting their stock at .0001 per share. So, for every $1 they get 10,000 shares. So, for 50,000 they get 500,000,000 shares.
With 2,400,000,000 shares reserved for the convertible shares, if there is 250,000 in debt outstanding, at the above conversion factor, you are over the authorized shares, which means you need to do another reverse split, pray for the price to go up or increase the authorized shares. None of those seem like good option to me.
Congrats, for screwing this up big time. How will anyone other than your friend come out whole.
Why did the company switch accounting firms if there was no disagreement? At least before the financials were on time.
How can this company grow and ever succeed with the financing done with the whores who put up money and then convert their stock at a huge discount? At these prices with a 50% discount, they are converting their stock at .0001 per share. So, for every $1 they get 10,000 shares. So, for 50,000 they get 500,000,000 shares.
With 2,400,000,000 shares reserved for the convertible shares, if there is 250,000 in debt outstanding, at the above conversion factor, you are over the authorized shares, which means you need to do another reverse split, pray for the price to go up or increase the authorized shares. None of those seem like good option to me.
Congrats, for screwing this up big time. How will anyone other than your friend come out whole.
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