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Alias Born | 05/06/2014 |
Monday, December 19, 2016 5:06:30 PM
The Q2Power ship has taken on so much water already that you need a depth sounder and glass-bottom boat to see it.
The last report had about $2 million in liabilities, two senior debt defaults, no assets and no business other than that letter of intent last summer to consider buying a composting business.
OK, that's a little harsh. There were *lots* of assets. $91K was the value of the Cyclone license (wonder how that's working out?), $9K in prepaid expenses to Nelson's other company, $8K in software and equipment for Cyclone engine development and $3,342 in cash.
If Nelson had leased some land somewhere and charged tipping fees for dumping sewage sludge he would have been in the compost business by now. Apparently putting manure in piles and letting it rot is beyond his managerial acumen.
I'm waiting for the announcement of the reverse split and sale of the shell.
Recent QSAM News
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