here is a post from bmw bob on the other board.
bmw_bob
Thursday, August 15, 2013 7:28:58 PM
Re: None
Post # of 30159
10K FILING HIGHLIGHTS - Most important parts are 1) where it addresses "positive operating cash flow" AND 2)Where it READS, "We believe upcoming balance sheets, on which we expect to be free of nearly all long-term debt....
REMEMBER, THIS WAS APPROVED BY BOTH THE AUDITOR AND THE CORPORATE ATTORNEY. IT READS:
The Company expects calendar year 2013 to be one of continued growth in both monthly recurring revenues and distribution sales, which will allow the Company to realize sustainable positive operating cash flow. We believe the growth rate and the positive operating cash flow we are currently realizing is sustainable into 2014 and beyond.
Management has been very successful in negotiating with debt holders for the cancellation of very significant portions of our debt. Since the beginning of 2012, approximately $56,251 of convertible debt has been cancelled. Recently, the holder of our short-term credit line cancelled $236,397 of the outstanding balance. Additionally, since beginning of 2012, approximately 200,000,000 toxic and highly dilutive warrants were also cancelled. No shares, warrants or options were granted in exchange for these cancellations.
Because trade payables have been paid down very substantially over the past few quarters, we are expecting our balance sheet to be very strong, nearly long-term debt free and with very manageable trade payable levels.
We believe upcoming balance sheets, on which we expect to be free of nearly all long-term debt and free of warrants, options and minimal outstanding preferred stock, will more accurately reflect the true value of our growing company
bmw_bob
Thursday, August 15, 2013 7:28:58 PM
Re: None
Post # of 30159
10K FILING HIGHLIGHTS - Most important parts are 1) where it addresses "positive operating cash flow" AND 2)Where it READS, "We believe upcoming balance sheets, on which we expect to be free of nearly all long-term debt....
REMEMBER, THIS WAS APPROVED BY BOTH THE AUDITOR AND THE CORPORATE ATTORNEY. IT READS:
The Company expects calendar year 2013 to be one of continued growth in both monthly recurring revenues and distribution sales, which will allow the Company to realize sustainable positive operating cash flow. We believe the growth rate and the positive operating cash flow we are currently realizing is sustainable into 2014 and beyond.
Management has been very successful in negotiating with debt holders for the cancellation of very significant portions of our debt. Since the beginning of 2012, approximately $56,251 of convertible debt has been cancelled. Recently, the holder of our short-term credit line cancelled $236,397 of the outstanding balance. Additionally, since beginning of 2012, approximately 200,000,000 toxic and highly dilutive warrants were also cancelled. No shares, warrants or options were granted in exchange for these cancellations.
Because trade payables have been paid down very substantially over the past few quarters, we are expecting our balance sheet to be very strong, nearly long-term debt free and with very manageable trade payable levels.
We believe upcoming balance sheets, on which we expect to be free of nearly all long-term debt and free of warrants, options and minimal outstanding preferred stock, will more accurately reflect the true value of our growing company
