E-Waste Systems Inc. (fka EWSI)

[SeanBoy]

Actually, I was impressed by last Q, when you get rid of the paper gains, they only lost about $550K, much better than previous.

The GPM was around 70%, not bad. The $300K plus revenue was a little less than what I expected, but still not bad.

I still don't understand the $171K in professional fees and I really don't understand how officer and director compensation contributed $139K toward revenue.

The Company currently has convertible debt, warrants and preferred stock which if converted as of September 30, 2014, would have caused diluted shares totaling 27,766,004,614 in pre-reverse split shares.”

-27,766,004,614÷ 250= 111,064,018 pre-split (this should be post-split) fully diluted ..... (?)

On 9/30/14, the conversion price was somewhere between 2.5 to 3.0 time greater than it was when I made my guesstimate, so...

2.5x111,064,018=277,660,045 post-split, fully diluted.

...my math should be checked or the term fully diluted re-visited as I have it nearer the low range of your guestimate.

Not to belabor the point, it was at the low end of the guestimate on 9/30/14, but not now or when I made it.