This is what I am taking from the fully audited 2
Post# of 56323
Posted On: 04/16/2016 2:53:54 AM
This is what I am taking from the fully audited 2 years of financials that were posted on Thursday. My apologies for posting this information here, as this board is FITX and nothing to do with Cen Biotech. However, due to the blatant disrespected of one poster it makes sense to do so and clear up misconceptions based on an obvious agenda with the sole purpose of disrupting this board.
The financials clearly state that the auditors opinion is the company is or will be insolvent without an influx of cash or the ability to generate revenue. However, currently the way the debt is structured it would appear that in the immediate the company can continue to operate with money coming from the sole director.
Going forward should be of concern as pointed out by the auditor. What is the plan? Where is revenue going to come from? Here we need to speculate and given the number of 'bread crumbs' Bill and team have dropped along the way it is very possible that plan 'B' has already been executed.
IMO the facility in Lakeshore may not be the only place the company can do business. Bill and team have made extensive trips to Ukraine where hemp and MMJ business is permitted. In fact, the Ukraine/Canadian flag on the Cen FB page is not a coincidence nor should investors ignore something so obvious. There have also been many other hemp/MMJ countries Bill and team have visited that to date we have not yet heard what they were doing or what potential business is planned.
The financials also confirmed the involvement of RXNB, a going concern with revenues. Given their business model an investor could expect some type of business merger at some future date and why not? If as planned, the company lists on the NYSE it would be of great advantage for RXNB to have access to public money to grow their already successful business.
Finally, the cost to have these audited 2 year financials was expensive. As an investor I would expect there was a reason to publicly share the financial health of the company and that reason is certainly not to just go broke and fold up the tents. Why 2 years? It takes 2 years of financials if you want to raise money and that's really the only reason you would do it at this stage of the business.
So if anyone says they think based on these financials the company is going broke they may want to consider some of the points I have made. Of course it is only my opinion.
I believe there is much more happening behind the scenes but at this point it is less important then the arrival of a new trading ticker. When that happens people are going to take notice and hopefully for us they won't be amateur penny stock investors the likes of us
GLTYA
The financials clearly state that the auditors opinion is the company is or will be insolvent without an influx of cash or the ability to generate revenue. However, currently the way the debt is structured it would appear that in the immediate the company can continue to operate with money coming from the sole director.
Going forward should be of concern as pointed out by the auditor. What is the plan? Where is revenue going to come from? Here we need to speculate and given the number of 'bread crumbs' Bill and team have dropped along the way it is very possible that plan 'B' has already been executed.
IMO the facility in Lakeshore may not be the only place the company can do business. Bill and team have made extensive trips to Ukraine where hemp and MMJ business is permitted. In fact, the Ukraine/Canadian flag on the Cen FB page is not a coincidence nor should investors ignore something so obvious. There have also been many other hemp/MMJ countries Bill and team have visited that to date we have not yet heard what they were doing or what potential business is planned.
The financials also confirmed the involvement of RXNB, a going concern with revenues. Given their business model an investor could expect some type of business merger at some future date and why not? If as planned, the company lists on the NYSE it would be of great advantage for RXNB to have access to public money to grow their already successful business.
Finally, the cost to have these audited 2 year financials was expensive. As an investor I would expect there was a reason to publicly share the financial health of the company and that reason is certainly not to just go broke and fold up the tents. Why 2 years? It takes 2 years of financials if you want to raise money and that's really the only reason you would do it at this stage of the business.
So if anyone says they think based on these financials the company is going broke they may want to consider some of the points I have made. Of course it is only my opinion.
I believe there is much more happening behind the scenes but at this point it is less important then the arrival of a new trading ticker. When that happens people are going to take notice and hopefully for us they won't be amateur penny stock investors the likes of us
GLTYA
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