UPDATE from CEO Tuesday, February 23, 2016 2:48:31
Post# of 199
Posted On: 02/23/2016 3:15:32 PM
UPDATE from CEO Tuesday, February 23, 2016 2:48:31 PM (LIBE board, different forum)
That's the reason in my opinion to shift focus as a BDC to generate revenue in other arenas while we get the alternative energy sub running.
I keep seeing posts pointing to glory days of old management. Well, remember they had just a prototype, no website, an IR guy who drove the price from .75 to .03 in two weeks, over $900 in convertible notes, $68k in debt to patent attorney, $38k owed to auditor, $10k to CPA, their attorney who knew all the filing/note details sent to prison, $200k owed to their electrical engineers, a patent license back to the company for $10k per month, and employees to pay. This has all been said before yet forgotten based on what I've been reading.
This past year we actually have delivered working units (over 30), new manufacturers, repaid all of the invoices, and slimmed the debt down substantially. I haven't pushed sales the past six months because I wasn't 100% happy with the product as originally designed, and have brought in new engineers. I realized early we needed non toxic revenues and admittedly followed a few hopeful, but ultimately not solid deals for LIBE (Fuselier produced nothing, Eastern Energy had far to much debt, Outage Expert never showed financials, Marina Bay took forever, need funds to pay for redesign, etc - list goes on)
The current efforts have been focused on finding good fits for us to move forward with. The 3 solar company merger for example - a work in progress, but not easy unless lenders play ball. There are others I'm talking to, but grabbing low hanging fruit with revs along the way as subs makes sense. Having a share structure that's more attractive is also on the table - I've been hoping to hear some thoughts on that. For the past few months on here I've been reading folks asking for a reverse, now it's seen as doom and gloom. Of course I would have a plan in place to make Liberated exciting again if the above happens, but with nobody buying shares right now, new eyeballs would see this as a 1-2 flip. That's not effective long term, and putting out LoIs to just feed it would be deceitful IMO.
Call me and I'll be happy to explain anything I can - honestly and openly.
Thanks
Brian
845-610-3817
That's the reason in my opinion to shift focus as a BDC to generate revenue in other arenas while we get the alternative energy sub running.
I keep seeing posts pointing to glory days of old management. Well, remember they had just a prototype, no website, an IR guy who drove the price from .75 to .03 in two weeks, over $900 in convertible notes, $68k in debt to patent attorney, $38k owed to auditor, $10k to CPA, their attorney who knew all the filing/note details sent to prison, $200k owed to their electrical engineers, a patent license back to the company for $10k per month, and employees to pay. This has all been said before yet forgotten based on what I've been reading.
This past year we actually have delivered working units (over 30), new manufacturers, repaid all of the invoices, and slimmed the debt down substantially. I haven't pushed sales the past six months because I wasn't 100% happy with the product as originally designed, and have brought in new engineers. I realized early we needed non toxic revenues and admittedly followed a few hopeful, but ultimately not solid deals for LIBE (Fuselier produced nothing, Eastern Energy had far to much debt, Outage Expert never showed financials, Marina Bay took forever, need funds to pay for redesign, etc - list goes on)
The current efforts have been focused on finding good fits for us to move forward with. The 3 solar company merger for example - a work in progress, but not easy unless lenders play ball. There are others I'm talking to, but grabbing low hanging fruit with revs along the way as subs makes sense. Having a share structure that's more attractive is also on the table - I've been hoping to hear some thoughts on that. For the past few months on here I've been reading folks asking for a reverse, now it's seen as doom and gloom. Of course I would have a plan in place to make Liberated exciting again if the above happens, but with nobody buying shares right now, new eyeballs would see this as a 1-2 flip. That's not effective long term, and putting out LoIs to just feed it would be deceitful IMO.
Call me and I'll be happy to explain anything I can - honestly and openly.
Thanks
Brian
845-610-3817
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