Reg A+ is Live
Investor Relations Website History
In 2014 Christopher Davenport launched what is known today as $FLES selling suspension lift kits on eBay out of his Garage. In 2016 Christopher launched his own dot com URL liftkits4less.com this Magento based platform allowed for all of their products to be pushed to eBay and Amazon reducing the need for expensive 3rd part listing platforms and streamlined and centralizing their digital catalog.
Having their own platform led to many technologic advantages all of which increased the company’s gross margin. Today liftkits4less.com accounts for roughly 60%+ of the revenue of the company and is the leading e-commerce site for Suspension Lift Kits. It is rumored that LK4Less had $10M in revenue for 2020. As revenues were growing Christopher needed more capital to grow, so through a service that matches private companies with public OTC tickers he reversed merged into the ticker MCGI around November of 2018.
The CEO of MCGI was Timothy Armes, founder of Jobs.com in the late 90s. During the course of the merger the ticker was change from MCGI to FLES. Fast forward a little over 2 years they have the debt from the old ticker cleaned up and the share structure reduced to an amazing level. Current Efforts
The focus of the company today is to launch the world’s first auto-parts only multi-vendor marketplace. This marketplace allows existing retailers, resellers, distributors and manufacturers to sell direct to consumers on the platform. FLES has gained great knowledge and insight from selling on eBay and Amazon and while those sites sell auto-parts, the experience is far from ideal for sellers and buyers of auto parts. FLES is taking what they learned and creating a world class e-commerce experience for both the seller and the buyer on a platform catering specifically to the automotive-parts industry. Adding addition features like installation services, will-call/local pickup, custom listing options.
Many resellers that already sell on eBay and Amazon have nothing to lose listing on 1 additional site. FLES already has the common APIs used to list the parts on the big 2. FLES plans on having 0 fees except for the commission on the final sale. There will be no listing fees, upgrade fees promoted fees, none of that , just a flat commission, saving sellers money and increasing their margins and profits.
Listing Services like Channel Advisor and Suredone can push their customers products onto the autoparts4less.com marketspace driving potential thousands of sellers and million of products onto the platform.
Their goal isn’t to take down Amazon or eBay, just take a majority of their auto-parts sales. One point of confusion I always come across is what is the difference between rockauto and FLES or carparts.com and FLES. The Difference:
Rockauto and carparts as well as Autozone Napa Pep boys Summit racing CarID Truckhero Realtruck 1A Auto are all retailers. FLES won’t be a retailer they are a service provider providing the platform for these large sellers(some of whom already sell on Amazon and eBay in addition to their own sites) to sell their product on with a customer base that is looking solely for auto parts.
They will not be competing with any of them. They will be providing one more focused channel for them to sale through. Them and the thousands of other smaller sellers and distributors as well as manufacturer direct.
They begin onboarding vendors Monday March 1st
and are launching the marketplace May/June time frame. Current Public Offering
$FLES has a REG A+ public offering live at the moment selling shares direct to the public at $2 a share(subject to increase at any time at the company’s discretion). Their goal is to raise $15M to fund the website development debt elimination and future growth and working capital.
Details about the offering can be found here. www.the4lessgroup.com
*Caution, although shares can be bought directly from the company, the majority of brokers won’t accept OTC shares transferred in from the Transfer Agent. The ones that do are very expensive, so if bought through the offering they may be a forced long hold until the company up lists to NASDAQ. If you want liquidity it may be better to buy on the open market.
The following are links to a massive amount of DD that can be done on FLES
Quarterly Financials Q1 ended April 30th 2020 - Gross Revenue - $2,000,071 Net Profit - $1,186,898(debt retirement inflated profit)
Audited Financials With Increasing Revenues
2016 - $4,773,730 ( Gross Profit $772,788 )
2017 - $6,989,134 ( Gross Profit $1,031,785 )
2018 - $8,312,610 ( Gross Profit $2,197,106 )
2019 - $8,186,214 ( Gross Profit $1,911,025 ) (discontinued sales on Amazon)
Q2 ended July 31st 2020 - Gross Revenue - $2,927,209 Net Profit - $394,962
Q3 ending October 31st 2020 - Gross Revenue - $2,334,826 Net Profit - $1,100,073 (debt retirement inflated profit)
Q4 with audited annual Finacials 10K due Monday, May 03, 2021
Christopher Davenport Bio Timothy Armes Bio
Mr. Davenport received his MBA from the University of California in September 2005 where he was recognized by his classmates as “the Most Innovative Thinker”. Before founding The 4Less Corp, Mr. Davenports’ previous business provided mobile dental services to the employees of the largest gaming corporations in the world. These contracts covered the lives of several hundred thousand employees on the Las Vegas strip. Due to the nature of the mobile facilities, Mr. Davenport implemented several new technologies at the time such as: filmless radiography, virtual patient charts and VPN networks to make for seamless quality health care. Soon after, Mr. Davenport expanded his mobile dental company to the military where he won several multiyear, multi-million dollars medical/dental National Guard Medical Readiness contracts. Mr. Davenport has a proven history of implementing innovative technologies that demonstrates his ability to lead The 4Less Corp into the future.
Mr. Armes has served as President and Chief Executive Officer of The 4Less Group (formerly MedCareers Group, Inc.) since August 2011. From February 2011 to August 2011, Mr. Armes served as the Chief Operating Officer of the Company. Since August 2011, Mr. Armes has served as the Chairman, Chief Executive Officer, President, Secretary and Treasurer of the Company. In 1992 Mr. Armes launched one of the first online job bulletin boards which eventually grew into jobs.com. As CEO of Jobs.com he raised over 100 million dollars and grew it into one of the top employment web sites before leaving the company in May of 2000. Mr. Armes began his career as an auditor for Ernst and Young and then as a real estate workout specialist with different firms in the mid 1980’s. Mr. Armes obtained a Bachelor of Business Administration degree in Accounting from the University of Texas in 1980 and passed the Certified Public Accountant exam.
OTCQB Cetification Up listing! https://backend.otcmarkets.com/otcapi/company/financial-report/270698/content Filed2/10/21
OS/AS Updates - source:https://www.otcmarkets.com/stock/FLES/security
2/24/2021 - OS 1,630,963 TA Verified
2/1/2021 - OS 1,355,963 TA Verified
1/19/2021 - OS 1,330,963 TA Verified
12/16/2020 - OS 1,180,963 TA Verified
12/08/2020 - OS 1,180,963 per 10Q
11/27/2020 - OS 1,180,963 TA Verified
11/12/2020 - OS 1,156,796 TA Verified
11/03/2020 - OS 1,156,796 AS 15,000,000 TA Verified
10/16/2020 - OS 1,108,095 TA Verified
10/05/2020 - OS 1,088,410 TA Verified
9/15/2020 - OS 1,043,410 TA Verified
8/26/2020 - OS 904,972 per Sep 14th 10Q
8/20/2020 - OS 904,972 TA Verified
7/22/2020 - OS 904,972 TA Verified
7/17/2020 - OS 904,972 TA Verified
6/15/2020 - AS 1,000,000,000 OS 715,067 TA Verified
6/12/2020 - OS 681,867 per 10Q
5/13/2020 - OS 620,825 TA Verified
5/5/2020 - OS 620,825 per 10K
4/20/2020 - AS to be reduced to 1B shares from 20B shares effective around 20 days from filing(~May 12th 2020).
4/13/2020 - OS 564,764 TA Verified
3/12/2020 - OS 538,464 TA Verified
3/5/2020 - OS 538,464 (Corrected Post-Split) TA Verified
2/25/2020 - OS 331,199 shares(Post Reverse Split)
1/24/2020 - OS 2,147,058,130 shares (Pre Reverse Split)
DALLAS, June 18, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- MedCareers Group, Inc. (OTC pink:MCGI) is pleased to announce that it has entered into a binding letter of intent (“LOI”) with The 4 Less Corp. (“4Less”), owner of several branded ecommerce web sites including their flag ship web site Liftkits4less.com (www.liftkits4less.com) (“Liftkits”), to acquire one hundred percent of the company.
Per the binding LOI, and subject to satisfactory due diligence, MCGI will enter into a definitive agreement with 4Less within the next one hundred and twenty days to finalize the acquisition.
4Less operates in the $43 billion specialty aftermarket auto parts industry and has quickly grown into one of the largest on-line sellers of Jeep, Truck and SUV suspension systems and related accessories targeting direct to consumer and installation shops here in the US and ships worldwide.
4Less established www.LiftKits4Less.com approximately 3 years ago. In 2015, their first year of operations, Liftkits had revenues of $2.4M which they grew by 280% to $6.8M in 2017 and was close to break even. For 2018 they are on track to surpass revenues of 9 million dollars.
Liftkits president and founder, Christopher Davenport, claims they owe their success to superior customer service, targeted functional web sites and easy to follow “how to” instructional videos that they film in their installation shop in Las Vegas.
Additionally, with their proven business model, experienced management team, and relationships with thousands of manufacturers, 4Less is in the early stages of launching other related auto equipment ecommerce websites including Bumpers4Less.com, Shocks4Less.com and Truckbedcovers.com to name a few.
“In a very short time Christopher and his team have done an outstanding job building Liftkits into a leading ecommerce website for off road enthusiast while creating a platform that can be replicated profitably in numerous segments across the specialty auto equipment industry.” said Tim Armes, President and CEO of MedCareers Group, Inc.. “We think 4Less has strong growth opportunity and believe Chris and his team has the potential to grow the company in a significant way based on his current achievements.”
“We are extremely excited to be joining MedCareers Group, Inc” says Chris Davenport. “Our goal is to be a major ecommerce player in the aftermarket auto parts industry and, by merging with MCGI, we will be able to access capital markets for faster internal growth as well as for strategic acquisitions in order to achieve this goal more efficiently.”
This press release should be read in conjunction with the 8K filed at www.sec.gov
MedCAREERS Group, Inc.
MedCAREERS Group, Inc.'s focus to date has been to develop and build value through its wholly-owned subsidiary Nurses Lounge, Inc., an online professional network and communication resource for nurses and stakeholder organizations such as nursing schools, associations and employers.
Also visit: www.the4LessCorp.com as well as www.LiftKits4Less.com
Reverse Split PRE-14C and DEF-14C filed with the SEC stating a 4000:1 Reverse split.
Approximately 2.15B shares will reverse split to 538K shares
RS on FINRA Daily List Effective 2/25/2020 00:00:00