Mindpix Corp. (fka MPIX)

[Inorout]

MPIX's 3rd Quarter financial results are posted and the results could get much worse. In almost every financial comparison, results are worse.

Revenues were again $0 for the Quarter. People need to understand that since Victor Siegal took over as President and CEO, Victir has never produced a single penny in sales...zero.

Making comparisons between the 3rd Quarter of 2013 versus this latest 3rd Quarter, it looks awful. Consulting Expenses and Professional fee expenses were $53,215 last year and $84,704 this year. Compensation and benefits were $131,622 last year and $267,888 this year. They also show production costs of $62,353 last year and $75,150 this year...(don't know what the production costs were because MPIX hasn't produced anything that I'm aware of). Other General and Administrative expenses of $11,463 last year and $191,509 this year. So the total operating expenses for the company in the 3rd Quarter of last year totaled $258,653 and these expenses this year for the 3rd Quarter was $619,250. Folks, it's a real head scratcher as to how expenses could go from $258,653 to $619,250 and MPIX has absolutely zero in sales still. Where the heck is all this money going? In a nut shell for the 3rd Quarter of last year MPIX posted a net loss of $564,209 and for MPIX's most recent Quarter MPIX is listing a net loss of $755,306. If you look at this most recent Quarter, MPIX is losing $251,768 per month, and since the first of the year through September 30, 2014 outstanding shares have gone from 1,062,336,084 shares outstanding to 1,471,573,821....major shareholder dilution. IMO I find it impossible that MPIX could be losing on average, $251,768 per month and IMO there must be major theft occurring within the company. There is just no way that these expenses make any sense. Shareholders should be asking for an investigation and internal audit. I think the company owes shareholders an explanation on how they're spending over $250K per month seeing that there had been no news and $0 revenues. If you happen to own shares in MPIX, I would recommend selling all your shares ASAP. Just no way MPIX could legitimately be losing over $250,000 per month. Where did this money go and to whom???