APTS reasons for the delay of the financial report:
1b. Due to the unforeseen price decrease in our companies stock the auditing services of "Malone Bailey" will no longer except payment for there services in the form of APT Groups Inc. common stock.
2b. We have been advised that if we do actually pay for Malone Bailey's services, the report would have the potential of dramatically weakening our companies market cap therefore:
A. Destroying our legacy shareholders
investments
B. Weaken the amount of cash being
raised through the ongoing issuance
of the companies common stock to
pay for daily expenses.
C. Severely impacting our share
structure from the terms set in the
current financing agreement we
have with Ironridge Global IV, Ltd.
3b. We have issued a necessary amount of the companies preferred stock series A at a conversion rate of 1 series A to 9,118,108 of common stock to pay for ongoing expenses. We have adjusted the shares authorized to accomidate the conversion rate. It is in the company and there shareholders best interest that the amount be undisclosed at this time but will disclosed on the audited financial report.
4b. After careful consideration of the potentially negative transparency the audited financial report would reflect, APT Group Inc has determined that only after the time restrictions are lifted off of all A,B,C and E series preferred stock will the company then acquire and release a full audited financial report. The time for the final restrictions of the preferred stock are set to be lifted 18 months from the issuance date of March 27th 2014.
ALL THIS IS MY OPINION
Full disclosure; Im long this stock. All statements, posts, comments I make are of my opinion only unless noted with sources and or links to give creditability to being a fact.
