Q3 Revenue 171k Q3 losses of 1.5M.. Cash on hand b
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Posted On: 11/18/2019 8:08:00 PM
Q3 Revenue 171k
Q3 losses of 1.5M..
Cash on hand by Sept 30th was 7K (lol)
and recently got 300K from promissory notes.
"Management estimates that the current funds on hand will be sufficient to continue operations through the next six months."
With 300K they cannot keep the lights on for 18 days... we are now on Nov 18th.
So either they will continue to dilute badly in order to get those or money from contracts is about to hit big.... ohh or BK
revenue from Cyber Safety
9 months to sept 30th 2018 $162
9 months to sept 30th 2019 $350,628
(Clearly increase in Revenue - Contracts)
"In November 2018, we executed two distribution agreements for our security products in the insurance and hospitality marketplaces, respectively. We anticipate that both agreements will result in a substantial increase in revenues 2020, although there can be no assurances of the anticipated results."
"Additionally, we had a stockholders’ deficit in the amount of $16,364,740 at September 30, 2019 compared to a stockholders’ deficit of $13,802,504 at December 31, 2018. We have historically incurred recurring losses and have financed our operations through loans, principally from affiliated parties such as our directors, and from the proceeds of debt and equity financing.
We financed our operations during the nine months ended September 30, 2019 primarily from the issuance of convertible debentures of $792,000 and the proceeds from financing obligations of $122,500."
"In addition, we are in default on notes payable and convertible notes payable in the aggregate amount of $3,551,924"
"Management is currently seeking additional funds, primarily through the issuance of debt and equity securities for cash to operate our business. Management anticipates, but cannot provide assurances, that additional financing will arise from the license granted to BlockSafe once BlockSafe becomes revenue producing. Currently, management is attempting to increase revenues and improve gross margins by a revised sales strategy. We are redirecting our sales focus from direct sales to domestic and international sales channel, where we are primarily selling through a channel of Distributors, Value Added Resellers, Strategic Partners and Original Equipment Manufacturers."
Q3 losses of 1.5M..
Cash on hand by Sept 30th was 7K (lol)
and recently got 300K from promissory notes.
"Management estimates that the current funds on hand will be sufficient to continue operations through the next six months."
With 300K they cannot keep the lights on for 18 days... we are now on Nov 18th.
So either they will continue to dilute badly in order to get those or money from contracts is about to hit big.... ohh or BK
revenue from Cyber Safety
9 months to sept 30th 2018 $162
9 months to sept 30th 2019 $350,628
(Clearly increase in Revenue - Contracts)
"In November 2018, we executed two distribution agreements for our security products in the insurance and hospitality marketplaces, respectively. We anticipate that both agreements will result in a substantial increase in revenues 2020, although there can be no assurances of the anticipated results."
"Additionally, we had a stockholders’ deficit in the amount of $16,364,740 at September 30, 2019 compared to a stockholders’ deficit of $13,802,504 at December 31, 2018. We have historically incurred recurring losses and have financed our operations through loans, principally from affiliated parties such as our directors, and from the proceeds of debt and equity financing.
We financed our operations during the nine months ended September 30, 2019 primarily from the issuance of convertible debentures of $792,000 and the proceeds from financing obligations of $122,500."
"In addition, we are in default on notes payable and convertible notes payable in the aggregate amount of $3,551,924"
"Management is currently seeking additional funds, primarily through the issuance of debt and equity securities for cash to operate our business. Management anticipates, but cannot provide assurances, that additional financing will arise from the license granted to BlockSafe once BlockSafe becomes revenue producing. Currently, management is attempting to increase revenues and improve gross margins by a revised sales strategy. We are redirecting our sales focus from direct sales to domestic and international sales channel, where we are primarily selling through a channel of Distributors, Value Added Resellers, Strategic Partners and Original Equipment Manufacturers."
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