QSAM Biosciences Inc. (QSAM)

[BuddyWhazhizname]

This delayed 10Q is going to be bloody.

The last 10Q showed only $36K in current assets and $3.1MM in current liabilities.

They sold one system in January which was supposed to be delivered in May, with progress payments having been made along the way. The last 10Q showed no progress payments had been made, and in June they announced R&D staff working on that system were being laid off. Now August and still no word of progress on completing the system. A $150K term note came due mid-July.

They also announced they were shifting to the sewage sludge composting business. With no facilities, equipment, expertise, regulatory approvals or contracts.

Dilution must be the only thing keeping them afloat.