jamboy - you stated that "This will be a $50m company by Xmas and $200m in 2014"
Your prediction would only come true if you ignore the latest financials which have these cold hard facts:
During the quarter, outstanding shares increased 25% from 30.3 million to 40.3 million
On September 1, 2012, Domark Canada entered into separate consulting agreements with the Domark International Executive team on an as needed basis. The consultants will receive a maximum of $1,000 per day based on an hourly rate of $100 per hour.
On January 8, 2013 (after 6 months with the company) Patrick Johnson resigned his position as VP – Business Development.
On October 31, 2012, Mr. Strasler resigned as President, Secretary, Chairman and Director of Domark International.
On June 20, 2012, the Company formed a new wholly owned subsidiary, Musclefoot Inc. in the state of Nevada for the purpose of distributing, marketing, and acting as sales agent for the patented foot care system, Barefoot Science. This entity’s corporate status is currently in default under the Nevada Secretary of State.
During the nine month period ended February 28, 2013, Hui Shi You of China, the Company's supplier of old solar chargers, gave notice that our exclusivity had been revoked.
During the nine month period ended February 28, 2013, the Company's Sports Management Team, representing its patented shoe insole product, entered into discussions with several international sports footwear manufacturers. Subsequently after the financials, the company announced it is looking to exit this line of business altogether.
As of February 28, 2013, the Company entered into a Memorandum of Understanding to purchase 44% of Zaktek Ltd., a UK based innovative electronic products company, upon signing a definitive purchase agreement. Zaktek’s main product is the phonepad+, an Apple Inc. approved tablet device that incorporates PDA’S including the Apple iPhone and Samsung Galaxy products to improve functionality including video and gaming abilities. On April 23, 2013, the Company received notification that Zaktek was ending discussions in regards to the definitive purchase agreement with DoMark.
The Company has consolidated losses from operations of $5,781,038 for the 3 months ending February 28, 2013.
There is a total accumulated deficit of $40,753,600 as at February 28, 2013. This means in order to meet your goal of $50m by Xmas, they need to turn this around by a net of $90 million....
The company has a grand total of $5418 in cash reserves.
For the quarter, the company had gross sales of $1396 (less $483 in cost of sales) in this multibillion dollar market. Revenues earned for the period were related to sales through the Company's wholly owned subsidiaries Musclefoot Inc. $1,559 and Solawerks Inc. ($163 - i.e. they sold ONE of their products!).
The Company has received advances totaling $193,288 from shareholders of the Company. As of February 28, 2013, the Company has not made any repayment of these advances. The advances are unsecured, bear no interest, and are due on demand.
On July 19, 2012, - Domark signs Five-Time American 800 m Champion Nick Symmonds to endorse Domark products for compensation of 100,000 shares of rule144 common A stock in Domark International Inc. valued at $68,000 with $17,000 being expensed in the quarter ended February 28, 2013 and $42,500 being expensed in the nine month period ended February 28, 2013. As of the date of this filing, the shares have not been issued. (sorry Nick - you got screwed!)
On July 25, 2012, - Domark signs Will Claye to endorse Domark products for compensation of 50,000 shares of rule144 common A stock in Domark International Inc. valued at $34,000 with $8,500 being expensed in the quarter ended February 28, 2013 and $21,250 being expensed in the nine month period ended February 28, 2013. As of the date of this filing, the shares have not been issued (sorry Will - you got screwed too!).
On March 21, 2013 a portion of debt owing to Ian Nuttall totaling $30,000 was converted to 1,500,000 shares of common stock (at $0.02/share!).
On April 12, 2013 the Company completed the acquisition of 15% of Barefoot-Science with the conversion of 2,500,000 series B into 5,000,000 shares of common stock.
On April 12, 2013 a portion of debt owing to Ian Nuttall totaling $30,000 was converted to 1,500,000 shares of common stock (at $0.02/share!).
On April 23, 2013 the Company concluded its settlement with the previous principle to DoMark, Thomas Kidd, and delivered to him 2,000,000 shares of common stock as a full and final settlement of all outstanding legal issues. (the gift that keeps giving for Kidd.....)
Subsequent to the 10Q release, the company has initiated a stock incentive plan for insiders, authorizing up to another 9.9 million shares.
