10K is bad, not as bad as it could have been. M
Post# of 39368
Posted On: 06/28/2013 6:06:40 AM
10K is bad, not as bad as it could have been. Many companies out there have much worse. Look we all know or have at least figured out that a company without revenue survives by printing shares, but this 10K adds more questions to the ever growing list. Hoping / (yes DCB) praying that the news today will at least answer a few of the new questions.
The worst of it is this line:
On February 4, 2013, the Company issued 62,600,847 shares of its common stock to a related entity controlled by Andrew Reid to eliminate a debt of $329,000 to the related entity. The shares were valued at $970,313.
Two questions:
1. Who / What is the "related entity"?
2. Why was the "extra $641,313.00" necessary?
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