Q2 observations-->
Page 2-- 97,500 "C" shares have been issued. Those convert into nearly a BILLION common (975 million). The recipients are named on pages 4-5. Recipients 6, 7 and 8 received a total of 62 million >>NON RESTRICTED<< shares on April 1st. Those apparently were instantly convertible into 620 Million common.
Page 5-6-- Cash is down 90% since December to $561. Based on the burn rate a/o 6/31/17 the company could be overdrawn by now.
Trade receivables fell by a factor of more than 5.
Inventory mysteriously vanished.
Intangible Assets and Goodwill-- arbitrarily valued at $60k= window dressing to inflate financials IMO.
General & Administrative--IMO this dropped by over half largely because questions were raised whether Alper was billing the company for rent and utilities on their personal residential condo (called a "Suite" instead of an apartment or condo). After this issue was raised by me here, Alper addressed it during his conference call saying BLDV leased space in his home for "$1 per year." An audit would determine if that had been the case all along or not. Also, is this where all of Alper's travel expenses are buried?
GROSS Revenues-- fell by 86% since December
NET Income-- fell by 81% to $26,264!!! ($8,785/mo). Where are the revenues from Cannabis-Clean, Bettey Bot Bakery, Old Mystic Vodka, MediMints, ZENO, consulting, etccccc?????
Pages 10-11-- BLDV entered into two debt obligations totaling $48k+ interest...each convertible at .001.
Page 14-- BLDV did not move to Eltron's facilities in July as previously announced. That was hailed by many as a prime reason to buy the stock. It's supposedly going to happen in Q3. For now it remains headquartered in the 850 sq' residential condo in Chicago.
Joshua B Alper remains Chairman, CEO, President, CFO, Secretary and Treasurer and in control of the single "Preferred A Super Vote share." The only directors are his son Jonathan and Steve Morrow whose company (Cannabis-Clean) BLDV owns. So there are no checks on Alper's power or backup should he suddenly become incapacitated.
My "opinion" is as valid as your "hearsay"
