I love how relevant posts like this keep getting d
Post# of 40989
(Total Views: 384)
Posted On: 01/27/2020 5:36:53 PM
I love how relevant posts like this keep getting deleted and other wishful thinking posts remain.
There is no way the financials will get audited imo. He is not going to waste $50,000 that he doesn't have. And for what. He owns practically no common shares.
The sales and A/R never made any sense. $11.5 million cumulative sales since beginning of 2017 and $7.75 million still remaining in A/R.
Giving him the benefit of the doubt, that means he has "collected" $3.8 million. $1.475 million of that cash has gone to Cogosense and $125K to Sifthouse investments. Which leaves about $2.3 million .
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Net cash flow from operating activities totaled $ 261,130 for the 12 months ended October 31,2019 compared with cash flow from operating activities of $ 268,491 for the 12 months ended October 31,2018.
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If the company pulled in $530K cash from operating activities over the past two years then where is the cash going to? Especially if he is using A/R collections to pay the Cogosense purchase price. He hasn't yet paid himself the $2 million for the FMS.
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Unpaid consideration to acquire 51% interest in FMS 2,000,000
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I stand by my previous assertion that his sales are just a paper calculation of whatever contracts he previously "executed" . He might invoice 3000 units per quarter but I guarantee that he is not selling 3000 units per quarter or even shipping 3000 units. Any legit auditor would find that in a second.
Think about it. Over 50,000 units have been sold per the financials yet even the most fervent of bulls can verify a couple hundred units.
Most recent reviews on FB and Amazon are over a year old. Something doesn't compute and I think we all know why.
Read More: https://investorshangout.com/post/viewremoved...z6CGzbjn9y
There is no way the financials will get audited imo. He is not going to waste $50,000 that he doesn't have. And for what. He owns practically no common shares.
The sales and A/R never made any sense. $11.5 million cumulative sales since beginning of 2017 and $7.75 million still remaining in A/R.
Giving him the benefit of the doubt, that means he has "collected" $3.8 million. $1.475 million of that cash has gone to Cogosense and $125K to Sifthouse investments. Which leaves about $2.3 million .
==================================================
Net cash flow from operating activities totaled $ 261,130 for the 12 months ended October 31,2019 compared with cash flow from operating activities of $ 268,491 for the 12 months ended October 31,2018.
==================================================
If the company pulled in $530K cash from operating activities over the past two years then where is the cash going to? Especially if he is using A/R collections to pay the Cogosense purchase price. He hasn't yet paid himself the $2 million for the FMS.
====================================================
Unpaid consideration to acquire 51% interest in FMS 2,000,000
====================================================
I stand by my previous assertion that his sales are just a paper calculation of whatever contracts he previously "executed" . He might invoice 3000 units per quarter but I guarantee that he is not selling 3000 units per quarter or even shipping 3000 units. Any legit auditor would find that in a second.
Think about it. Over 50,000 units have been sold per the financials yet even the most fervent of bulls can verify a couple hundred units.
Most recent reviews on FB and Amazon are over a year old. Something doesn't compute and I think we all know why.
Read More: https://investorshangout.com/post/viewremoved...z6CGzbjn9y
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