Epazz Inc (EPAZ)

[BoredPoster]

So everyone just_ignores_the_financials and buys_on_hype? SEE details

Epazz Unaudited 3rd Qtr 2017 10K

Note 2 – Going Concern
As shown in the accompanying condensed consolidated financial statements, the Company has incurred recurring losses from operations
resulting in an accumulated deficit of $17,254,404 as of September 30, 2017. The Company’s current liabilities exceeded its current assets by
$4,099,166 and its total liabilities exceeded its total assets by $4,917,270. These factors raise substantial doubt about the Company’s ability to
continue as a going concern.
The financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company’s ability to
continue as a going concern. These financial statements also do not include any adjustments relating to the recoverability and classification of
recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going
concern.

Their deficit is $17M and 2016 reported income was $1.82M for a net loss of about $1M.

Note WSJ reports that their revenue has been negative for the past 5 years.

WSJ Epaz quote

From page 17 of 19

Under the section labeled Promisory Notes

The Company is currently in a legal dispute with certain short-term debt lenders regarding alleged usury. In addition, the Company has cease
paying other unsecured loans and is currently in negotiation for settlement. The Company believes the outcome of the litigation and the actions
taken to negotiate better lending terms will not have an adverse material effect on the financial condition of the Company

Totally dismissing the 11 ongoing lawsuits, two of which either have liens against Epazz software or garnishment of the income from ALL of their software products. They will never be able to pay their debts. Their profile doesn't even acknowledge the other products even though Zenapay has no recorded revenue yet.

How is Epaz a good investment?

Court dates next month. Seeking garnishment of income.
$280000 Judgement DIRECT CAPITAL CORPORATIO vs TELECORP PRODUCTS, INC.

Epazz is being sued for the balance owed on acquisition of Jadian in excess of $200,000. There is a lien in place. Pending judgement in favor of Jadian.
Jadian Enterprises vs Epazz