As of Mar 27 2017:
I own 500K shares and am NOT bashing but you need to know, sumpin' big will HAVE to happen.
I bought knowing the below and hoping a reverse merger or buy out WILL occur. PLEASE read this portion of the .03/2017 10 Facts so you know what WE own:
(Go to otcmarkets .com enter IDVC then click Filings:
Liquidity and Capital Resources
Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue operations.
As of September 30, 2016 we had a working capital deficit of $14,123, compared to a working capital deficit of $196,342 as of December 31, 2015.
Cash flows used in operating activities for the nine month period ended September 30, 2016 was $264,204, as compared to $155,486 used by operating activities in the nine months ending September 30, 2015. Cash flow used in operating activities increased in the current year to date period due to substantial decrease in liabilities, and an increase in accounts payable.
There was $68,000 in cash flow generated by investing activities in the nine month period ending September 30, 2016, from the sale of the wing house in the period. Cash flow generated by financing activities was $189,403 in the current nine month period from conversion of notes payable to common stock. We expect to use cash flow in investing activities over the next twelve months as we develop our businesses.
Our current assets are insufficient to meet the Company's business objectives over the next twelve months. We need a minimum of $100,000 in debt or equity financing to maintain operations and to fulfill our business plan. Although, we have no commitments or arrangements for this level of financing, our shareholders remain the most likely source of loans or equity placements to ensure our continued operation though such support can in no way be assured. Our inability to obtain additional financing will have a material adverse affect on our business operations.
We have no lines of credit or other bank financing arrangements in place.
We have no commitments for future capital expenditures that were material at the end of the period.
We have no defined benefit plan or contractual commitment with any of our officers or directors.
We have no current plans for the purchase or sale of any plant or equipment.
We have no current plans to make any changes in the number of employees, with the exception of adding performance based compensated sales staff to expand the Bidlive business model.
We do not expect to pay cash dividends in the foreseeable future.
Future Company Financings
We will continue to rely on debt or equity sales to continue to fund our business operations even though the issuance of additional shares will result in dilution to our existing stockholders.
Company Reporting Obligations
We do not anticipate any contingency upon which it would voluntarily cease filing reports with the Securities and Exchange Commission as it is in the interest of the Company to report its affairs quarterly, annually and currently to provide accessible public information to interested parties.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
Interest Rates
Interest rates are generally controlled. The majority of our debt is owed to a related party at a fixed interest rate so fluctuations in interest rates do not impact our result of operations at this time. However, we may need to rely on bank financing or other debt instruments in the future in which case fluctuations in interest rates could have a negative impact on our results of operations.
Forward Looking Statements and Factors That May Affect Future Results and Financial Condition
The statements contained in the section titled Management's Discussion and Analysis of Financial Condition and Results of Operations and elsewhere in this quarterly report, with the exception of historical facts, are forward looking statements. We are ineligible to rely on the safe-harbor provision of the Private Litigation Reform Act of 1995 for forward looking statements made in this quarterly report. Forward-looking statements reflect our current expectations and beliefs regarding our future results of operations, performance, and achievements. These statements are subject to risks and uncertainties and are based upon assumptions and beliefs that may or may not materialize. These statements include, but are not limited to, statements concerning:
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our financial performance;
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the sufficiency of existing capital resources;
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our ability to fund cash requirements for future operations;
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uncertainties related to the growth of our business and the acceptance of our services;
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our ability to achieve and maintain an adequate customer base to generate sufficient revenues to maintain and expand operations;
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the volatility of the stock market; and
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general economic conditions.
We wish to caution readers that our operating results are subject to various risks and uncertainties that could cause our actual results to differ materially from those discussed or anticipated including the factors set forth in the section entitled Risk Factors included elsewhere in this report. We also wish to advise readers not to place any undue reliance on the forward looking statements . . .
Mar 27, 2017
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