Undervalued?
The company issued 1M shares in Q1 (a) in exchange for debt valued at $10K, Note 9 of the Q1 financials in the Form 10; or (b) for $10,000 of professional services, per the originally issued Q1 financials and page 20 of the Form 10 (surprise, discrepancy in the Form 10).
Any way you slice it, that is .01 per share to the recipients.
And you think .06 is 'undervalued.' What do you know that folks accepting stock in exchange for hard dollars, don't know??
In fairness, we don't know if these shares were issued before or after what some have asserted was a 'pump and dump' scheme related to uplisting; for most of January and February, the stock was trading at .02x.
The question you have to ask, is what has happened since then to justify .06/share.
- Is it audited financials, which show that the company has had losses equal to revenues in the last year, rather than the profits previously claimed?
- Is it the 51% interest in the unsuccessful sports bar(caveat: my summary of the fact this is third owner in under two years).
- Is it the 5.9M shares of preferred stock issued in Q4 to management (page 17 of Form 10), versus (at least some of it issue for media funding (per the Oct 2 press release, no longer on the BCCI website).
It can't be the prospect of uplisting, as the company does not meet the financial requirements for uplisting, as clearly stated in the audited financials which have reduced shareholder equity well below that initially published in the 2013 financials.
