Grillit, Inc. (GRLT)

[tdbowieknife]

Hey Keith Wilkerson... What does this mean exactly??? And WHY did you leave out the owners NAME Ronald Blackburn???

NOTE 3 — MARKETABLE SECURITIES
As part of the agreement to transfer control of the company to Marquette Acquisitions & Investments, LLC (“MAI”), in August, 2015, MAI was to invest $900,000 into the company. One of MAI’s owners pledged to collateralize the receivable with marketable securities of that value. The receivable was recorded at the market value at the date of transfer as it was a better indicator of the asset basis. In accordance with Generally Accepted Accounting Principles, (GAAP) marketable securities were reflected on the Balance Sheet at the lower of cost or market.

During the quarter ended June 30, 2016, management became aware of events severely affecting the carrying value of the stock and elected to write down its value to zero. Further, the provider of the stock has agreed to accept the return of the stock in lieu of unrecorded or claimed consulting and expense reimbursements

http://www.otcmarkets.com/financialReportViewer?symbol=GRLT&id=164625

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Buyer Beware
Ron Blackburn Scam
toxic death spiral convertibles up the yang


Dark------SEC

Non Reporting

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