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revenues go up but share price doesn't move
seems like Richard is more in tune with what's going on then those who keep pumping
toxic debt keeps increasing each quarter, not decreasing and there is no clear plan from LS to reduce the debt because even with increasing revenue there is no cash being generated to pay off debt
this is going nowhere despite the "increase" in revenue and there is no way they'll reach 10MM in annual revenue this year
Where do you see cowi eliminating any debt
This certainly can't be good news for coroware
they have 35 billion AS, > 10 billion OS
Where has the bid gone???
all this chatter about cowi being bought out by any company is purely ridiculous
why would any company buy them, what do they have to offer
no intellectual property
no patents
they're a staffing company with a ton of debt
and talking about them as if they're a startup is even more far fetched -they've been in business for over 10 years
I agree with 1manband - there's no disputing that COWI is a financial nightmare
Read the 10K, the part where it says that 99%+ of COWI's revenue is from one customer
Gee, who could that customer be???
And why would Microsoft care what kind of financial shape COWI is in, MS is paying COWI, not the other way around and probably got COWI's employees at a discount
Also, fred commented that he always got paid on time - did he ever get paid in stock as opposed to a paycheck???
There are certainly people who have been paid in stock or is that another part of the filing that's not factual???
Cowi will be at .0001 with no bid then
funny, the rat delivering the mouse
for all you that think the debt will be paid off you can't be serious
does anyone read the financials and understand them?
here's a clue - look at the cash flow statements and see how much cash they are generating from operations and that will help you figure out how much debt they can pay off
everyone here talked about how COWI was like buying a lottery ticket, same with way out of the money options. granted you have a limited time frame but the chance to score big is much better than in penny POS like COWI. got lucky!!!
LS is so full of crap with this shareholder update:
he states that they've restructured their robotics division yet if you read the 10K and 10Q you'll see that 99+% of their revenues are from one company (i.e. Microsoft)and all of that revenue is from offering consulting services. COWI has no stake in Hololens besides the fact that they have consultants working on the project.
There is no revenue whatsoever from any other company and certainly no revenue from their so called "robotics" division
Also the part about the non-recurring charges for accounting, legal and marketing costs - is he planning on not paying for accounting and legal fees in the future??
The best part is the debt restructuring - all he does is roll the accrued interest into new notes or new issues of preferred stock which still convert into common thereby perpetuating the vicious cycle he's stuck in. Not only is he restructuring the debt he doesn't have the cash flow to even pay his employees, he's been paying them with preferred stock which they convert into common immediately since most landlords, grocery stores, etc will not accept COWI shares as a form of legal tender.
Basically anyone who thinks this will change in the next 18 months or 18 years is dreaming or delusional, this company will never show profitability or generate the cash flow necessary to extinguish the debt and will continue to RS and drop back to no bid and it has in the past.
what do you not understand about the repurchase of shares being a bad financial decision? Everyone here (oops, that was here) thought that was such a great thing they were repurchasing shares - how's that working out so far?
anyone else notice in the 10K and 10Q the % of revenue from one customer (i.e. Microsoft) is 99+% of their revenue
so no corobots, no other customers, like it's been said they're a temporary staffing firm for MS, absolutely nothing else to this company
um, by definition they're in charge of "making a market" for a stock so I don't think they're cherry picking random sell orders rather they're trying to maintain the market for this POS.
What's the alternative - delist the stock
a bit surprised, could just be the market makers absorbing sell orders
135 million
2 weeks from the 10K being issued and here we are still at no bid
can't wait to see what happens when they release the 10Q
I'm still betting on the RS announcement prior to the 10Q being released
Also, stop picking on JOEY B - he needs this stock to go up so he can sell the shares he's getting in lieu of his paycheck
LOL
The sad truth about the RS's this POS goes through is that they never decrease the AS count, so the AS remains (and will most likely continue to remain) at 13 billion while the OS is decreased by 1 for 200 or whatever the number turns out to be.
Rest assured that a RS will certainly occur in the very near future, the stock will go to .02 (or whatever the ratio might be) and will quickly decline to sub penny and history has and will repeat itself.
Keep the faith though, remember LS has all your best interests as his #1 priority (NOT)
actually 11.8 billion OS per the 10K
RS right around the corner
Please elaborate on how this is a "Solid Day" for COWI
LMAO - they "promised" a lot of things, they're quite good at making promises, keeping them, not so much
10K a half year old - true
also true - they had to issue 3billion shares in the last 5 months due to conversions and paying employees so I wouldn't be so excited about all these tweets about hiring employees (usually a good sign but not when you can't pay them in cash)
also, LS has no control over whether or not there is a RS, when the OS exceeds the AS there really isn't a choice and based on the history the OS will soon exceed the AS
I'll bet there's a RS announcement before the 10Q is released
hows that share buyback working out?
10K is miserable - the quadrupled revenues but it cost them in GP%, hopefully they won't increase so they'll lose less $$$
no buybacks in Q1, would have been disclosed in the subsequent events section along with the 3 billion of new shares being issued
can't understand why some are excited about buyback of 130 million or so when they issued 3+ billion, you do realize that's a net increase in OS
still not able to generate cash except from new debt issuance - surely not a good sign
also, paying employees in preferred stock - what do you think those employees are doing, certainly not paying their bills with those preferred shares (i.e. converting PS then selling further increasing OS)
I'll lay odds they announce RS before 10Q released - anybody want to take that bet
Same $$hit, different day with new bagholders
now that has to be on of the funniest posts I've read on here:
"LS is concerned with the reports accuracy, he's an engineer"
he has zero concern for the accuracy as evidenced by numerous mistakes in every filing since he's been at the helm of the shipwreck
if you don't have the $$$$ to pay the auditors, no 10K
and of course thanks to all the great DD on this board we know they spent all their $$$ on share buy back and debt reduction
Don't have 10K either
50 million bid whack, that can't be good
LS can't pay for the audit, that's why the 10K hasn't been released
It's always next week
when will it be this week - probably release the 10k by August just like last year, then they'll announce the next 1 for 200 or 300 RS without changing the AS
history repeats itself
LOL
and you'd think that if they have this large increase in 2016 revenue they'd want to get it filed ASAP
perhaps the revenue isn't showing what they PR'd a while back, or as I've stated in the past it's most likely they can't pay for the audit so they can file the 10K
when's he explosion??
must be a long fuse
lol
i sincerely doubt that LS told Robert all that information
seems like it would be illegal to speak to one shareholder about things that are not publicly disclosed
but all you longs keep believing
only thing for sure is this POS is not moving anywhere and will continue to trade at .00001 for a long time
also, in regards to a RS, LS has no control over this if the CD holders decide to convert there will be a massive increase in the OS and the company will have no choice but to RS, after all you can't have more OS than what's authorized
time will tell
LOL, since when does he post anything factual, basic DD to go to SEC website and see that they never file on time
also find it interesting all these posts/tweets from Joey B
cowi website says only "authorized" personnel can speak for company - his posts/tweets would seem to violate the policy
FWIW
Have you ever read a 10K??
it contains the financial statements and disclosures regarding the company - don't expect anything out of the ordinary as far as other disclosures
I'm sticking with my original assessment regarding the late filing - they don't have the money to pay the auditors and therefore they can not release the 10k and subsequently they'll run into the same issue when it's time to issue the 10q
their statements are not that complicated (especially if LS is the CFO) that there would be any other logical reason for the delay
Wow, a newsletter
this is going to go to $500 a share in no time
never mind increased profit, how about any profit
has anyone looked at their financials - their gross profit (sales-cost of goods sold) is about 25 -30%)
now deduct all the G&A expenses and you have a history of massive losses
unless they can generate upwards of 100M in sales they'll never be profitable much less be able to pay any debt off
company has never ever ever filed a 10K or 10Q on time
there will be no buybacks showing up in the 10K or the 10Q - even in the subsequent events section
they will be in default of the forbearance payment to the CD holders
and there definitely will not be any reduction in the OS debt = just because they might increase their revenue they're not generating cash. it amazes me how naïve some of the posters on this board are.
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wow $21 of short stock, how will they ever cover this