Bus shelter advertising... a sore subject. Wonder
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Posted On: 05/30/2022 9:50:40 PM
Bus shelter advertising... a sore subject. Wonder why?
Here's some clues:
Since 2018...yup 4 years ago and investors get these results.
2021 10-K - Page F-13: https://sec.report/Document/0001493152-22-010104/
In June 2018 , the Company received proceeds of $260,000 pursuant to a partnership agreement and related partnership contribution agreements with third party investors, pursuant which investors have agreed to provide financing for no less than (10) ten new bus shelters being installed annually. Each investment in the partnership grants the investor the right to preferential distributions of profits related to the Company’s contract with Rhode Island. The investors receive 100% of the profits from the Rhode Island contract to install 20 bus shelters until 100% of the initial investments are returned. Thereafter, the investors receive 20% of the remaining profits from Rhode Island contract. As of December 31, 2021 and 2020, no profits have been earned on the Rhode Island contract, no repayments have occurred , and the total amount of investments received totaling $260,00 is reflected on the accompanying consolidated balance sheet as a Project Financing Obligation.
Then there's this reality as of earlier this month.
https://oohtoday.com/vector-media-renews-part...ith-ripta/
Vector will now represent 150 bus shelters in the market in addition to the 165 transit vehicles already under management, allowing Vector to provide local, regional and national advertisers with best-in-class transit and place-based inventory in Rhode Island’s Capital and historic Newport
Vector Media contact info now on Ripta website:
https://www.ripta.com/bus-shelter-advertising/
Recall this tweet below from September 2019? $66 million projected over the 10 year contract? Sound familiar? But that was nothing compared to the recent $450 mil projection in a recent company internal press release.
Please make a special note of those 10 states referenced in that tweet.
https://investorshub.advfn.com/uimage/uploads...33A54.jpeg
That's why bus depot advertising subsidiary is a sore subject. Can anyone imagine investing in the company or stock based on this Bloomberg Dec 1, 2017 article?
https://www.bloomberg.com/press-releases/2017...m-contract
It only got worse into 2018. Promising 32 more bus shelters being built and projecting to add $2 mil of revenue over the 2017 10 year contract.
and this:
Page F-14 - https://sec.report/Document/0001493152-22-010104/
Significant customers
For the year ended December 31, 2020, two customers accounted for 12% and 13%, respectively, of the Company’s revenues. As of December 31, 2020, accounts receivable due from these customers totaled $8,000 and $10,290 respectively.
Significant customers
For the year ended December 31, 2021, two customers accounted for 13% and 10%[, respectively, of the Company’s revenues . As December 31, 2021, accounts receivable from these customers totaled $30,555 and $15,800, respectively.
For the year ended December 31, 2020, two customers accounted for 12% and 13%, respectively, of the Company’s revenues . As of December 31, 2020, accounts receivable due from these customers totaled $8,000 and $10,290 respectively.
Hopefully, 2022 Q2 10-Q will update the shareholders since no 8-K relating to any changes to the 10-year contract that could impact the company's revenue has not been filed for shareholders knowledge. No updates on twitter.
Then I read this a couple of weeks ago:
Page F-13 - https://sec.report/Document/0001493152-22-010104/
Notes Payable
On June 21, 2019, the Company issued a six-month ten percent interest promissory note in the amount of $200,000. The note was funded July 8, 2019. Per the terms of the note, the Company agreed to issue to the lender 2,000,000 shares of restricted common stock, with a fair value of $2,600 as an inducement. The balance of the note is $200,000 as of December 31, 2021 and 2020. The note is currently in default.
Back to researching other 2 and 3 year old articles encompassing, agreements, planned projects to build solar farms, feedstocks, waste 2 energy plants and solar panel manufacturing facility in the U.S. along with funding (not mentioned in last 10-K) bringing hundreds of millions of projected revenues.
Everyone should read the 10-Ks and 10-Qs
due diligence is healthy for investors
imho
cheers
Here's some clues:
Since 2018...yup 4 years ago and investors get these results.
2021 10-K - Page F-13: https://sec.report/Document/0001493152-22-010104/
In June 2018 , the Company received proceeds of $260,000 pursuant to a partnership agreement and related partnership contribution agreements with third party investors, pursuant which investors have agreed to provide financing for no less than (10) ten new bus shelters being installed annually. Each investment in the partnership grants the investor the right to preferential distributions of profits related to the Company’s contract with Rhode Island. The investors receive 100% of the profits from the Rhode Island contract to install 20 bus shelters until 100% of the initial investments are returned. Thereafter, the investors receive 20% of the remaining profits from Rhode Island contract. As of December 31, 2021 and 2020, no profits have been earned on the Rhode Island contract, no repayments have occurred , and the total amount of investments received totaling $260,00 is reflected on the accompanying consolidated balance sheet as a Project Financing Obligation.
Then there's this reality as of earlier this month.
https://oohtoday.com/vector-media-renews-part...ith-ripta/
Vector will now represent 150 bus shelters in the market in addition to the 165 transit vehicles already under management, allowing Vector to provide local, regional and national advertisers with best-in-class transit and place-based inventory in Rhode Island’s Capital and historic Newport
Vector Media contact info now on Ripta website:
https://www.ripta.com/bus-shelter-advertising/
Recall this tweet below from September 2019? $66 million projected over the 10 year contract? Sound familiar? But that was nothing compared to the recent $450 mil projection in a recent company internal press release.
Please make a special note of those 10 states referenced in that tweet.
https://investorshub.advfn.com/uimage/uploads...33A54.jpeg
That's why bus depot advertising subsidiary is a sore subject. Can anyone imagine investing in the company or stock based on this Bloomberg Dec 1, 2017 article?
https://www.bloomberg.com/press-releases/2017...m-contract
It only got worse into 2018. Promising 32 more bus shelters being built and projecting to add $2 mil of revenue over the 2017 10 year contract.
and this:
Page F-14 - https://sec.report/Document/0001493152-22-010104/
Significant customers
For the year ended December 31, 2020, two customers accounted for 12% and 13%, respectively, of the Company’s revenues. As of December 31, 2020, accounts receivable due from these customers totaled $8,000 and $10,290 respectively.
Significant customers
For the year ended December 31, 2021, two customers accounted for 13% and 10%[, respectively, of the Company’s revenues . As December 31, 2021, accounts receivable from these customers totaled $30,555 and $15,800, respectively.
For the year ended December 31, 2020, two customers accounted for 12% and 13%, respectively, of the Company’s revenues . As of December 31, 2020, accounts receivable due from these customers totaled $8,000 and $10,290 respectively.
Hopefully, 2022 Q2 10-Q will update the shareholders since no 8-K relating to any changes to the 10-year contract that could impact the company's revenue has not been filed for shareholders knowledge. No updates on twitter.
Then I read this a couple of weeks ago:
Page F-13 - https://sec.report/Document/0001493152-22-010104/
Notes Payable
On June 21, 2019, the Company issued a six-month ten percent interest promissory note in the amount of $200,000. The note was funded July 8, 2019. Per the terms of the note, the Company agreed to issue to the lender 2,000,000 shares of restricted common stock, with a fair value of $2,600 as an inducement. The balance of the note is $200,000 as of December 31, 2021 and 2020. The note is currently in default.
Back to researching other 2 and 3 year old articles encompassing, agreements, planned projects to build solar farms, feedstocks, waste 2 energy plants and solar panel manufacturing facility in the U.S. along with funding (not mentioned in last 10-K) bringing hundreds of millions of projected revenues.
Everyone should read the 10-Ks and 10-Qs
due diligence is healthy for investors
imho
cheers
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