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Yep ….
But it’s not just Carnes.
Rob Morris as well.
And even the Evans fam, and Joe Davis.
They’re all pointing the finger at each other about how things went down in the acquisition process and post acquisition, control, equity in the company, power, money (and payments for the transaction), and current roles being preserved in the company.
They better get all this resolved.
Revenue by Quarter in 2023:
Q1: $8 million
Q2: $39 million
Q3: $21 million
Total past 9 months = $68 million
Q4 is supposed to be their biggest Quarter of the year for business and deliveries, due to the holiday season, as stated in one of their previous filings.
Therefore Q4 revenue should be better than $39 million (Q2 revenue).
I think we’re nearing the time for another run coming up ….
Don’t know how quickly it will be, but I do think it will be ‘soon’
Hang tight.
Let’s get that audit done and let’s move up.
Some of that “Net Loss”
May be due to expansion of their new warehouse in Savannah perhaps.
Carnes did tell shareholders back in March that this would be a "multiples" of dollar stock (per share)
Someone I talk to on social media about APSI used to text Carnes.
And he saved a screenshot that Carnes sent him on March 2, 2023 (it says today, but that's because he saved the screenshot on that same day of March 2, 2023, hence why they were texting about the great article that APSI put out, which is the article that ended up getting them the promo badge on OTC Markets).
Carnes was apparently telling shareholders (through text) back in early March, 2023, that this would be a "multiple" dollar stock.
Carnes and APSI better honor that, or come close, or else they shouldn't be texting stuff like that.
All text records are kept in the background, so it can be verified by law, if it ever comes to that.
Total Assets in the report?
One thing that stands out to me that caught my eye ….
“Total assets” a year ago = $100 million.
“Total assets” currently = $84 million.
Why?
That’s a 16% drop in less than a year.
Are they selling off some of their assets?
Carnes buying the company for $28 million to sell off its assets which are (or were) worth $100 million in total. That better not be what is happening here.
The “catalyst” that came out today ….
Caused the stock to go Green.
Well, the acquisition was already officially completed per SEC filings.
Super 8k back at the turn of the year from 2022 to 2023.
So the whole thing is a mess.
It’s possible Carnes may win and the Evans team will attempt to cry foul for years. But regardless, there is now lack of leadership going on, and that’s not a good thing for the company as they all attempt to sue one another over who should own what.
Yeah, they’re all fighting for ownership, control, proper compensation, etc.
Because the company (Tradition) has such large value of revenue and assets, but the way they all went about this transaction was a cluster-funk. They botched it. Should have done a reverse merger instead, and give everyone their proper worth of ownership.
Instead, now they’re all fighting for what they feel is theirs, meanwhile you also have shareholders of APSI who hold ownership of a completed acquisition per official SEC filings (super 8k). That also adds to the mess.
Who owns what? Among the elites, and among the newer shareholders? They’re going to have to figure it all out, and it sounds like in the short term, attorneys will be the one to benefit the most from all the legal fees.
They also just amended the offer ….
Two days ago, but it’s essentially the same.
$0.45 - $0.75 per unit (3 shares per unit), therefore the investor would be getting shares at $0.15 to $0.25 per share.
Financials are finally out for 2022 ….
As shown in the latest filing from 11/06/2023.
Yes, it’s still unaudited for now.
But before this release, we knew 2021 “audited” financials were just short of $100 million in revenue with a few million in “net profit”. However, we didn’t know 2022 financials yet.
We do now, according to the latest filing (unaudited). In 2022, over $118 million in revenue, $17.1 million in gross profit, and $4.1 million in “net profit”. Therefore, in 2022 (just like 2021) Tradition was very profitable.
Current Market Cap = $570,000
Doesn’t make sense to exit (sell) your position at that level of valuation.
Exactly ….
I’m still here as well just waiting.
It will all get done
How many shares do you have now?
You stated you had a few million before.
I agree, but it looks like $0.04’s are coming soon first.
We might be two quarters away from IDE submission, and another month or more for approval afterwards.
I’m patient.
I’m still here with all my shares.
Ticker change should be happening soon.
2024 could and should be a great year for shareholders.
Nasdaq?
It’s basically the next level up from OTCQB.
Maybe you should be the next CEO
I mean, it’s your innovative technology that you created and all, LOL.
So no IDE submission in Q4
Looks like postponed until next year.
Probably at least two Quarters away.
The continuous delays are frustrating, but I’m still holding here and will do so for years more if need be. Just wish they would get on with this.
Don’t some of the preferred shares get converted as well?
If Vivos was bought out for $1.4 billion in the future
How much would we get for each of our shares (per share) ???
That’s over 10% of the share structure.
No one can have that many common shares right now.
I have just over 2 million shares here
Everyone, please predict what that stash will be worth by December of the year 2025 ???
Yep
Mayo Clinic ….
Still has more credibility than former rejected employees at Vivos.
Good thing you no longer work at Vivos.
The average batting average is around 275
I can see $2.75 per share, if/when FDA gives first approval.
It would get us to silver land.
How strong in silver land?
Probably depends on the profitability.
If anyone wants to sell me their shares at $0.05, let me know.
Yeah, we don’t know if 2022 was true or false yet.
We haven’t seen any audited financials (yet) released for 2022, as of this time.
No one knows for certain yet.
It’s all guessing and assumptions.
We did however see 2021 “audited” financials which were filed to the SEC. They were $87 million in audited revenue, and a net positive $3 million audited in “net profit”. Those are “factual”.
He got blocked by Elon Musk
For calling him a sea monkey.
2 million here
Wish I had your stash.
Silver is coming ….
It’s not a question of if, just a question of when.
Great point on that $12 million amount
Therefore, when excluding that, General Admin expenses for the first 6 months of 2023 so far is closer to $6 million instead, of $47 million revenue for 2023 so far = 12.7% of revenue.
Which is very close to the 13% of revenue in 2021 “audited” financials.
Someone just bought over 70,000 shares at the Ask
As they always say, someone out there always knows something.
Yeah, he’ll be buying back in the $0.20’s, and then selling at $0.40
When he could have held his original shares at a much lower cost average, and made a lot more profit.
2021 “Audited” financials in their Super 8k
Reveals $11.5 million for general admin expenses, which was 13% of their $87.7 million in audited revenue that year.
The $127,000 amount for that category for 2022 is obviously APSI’s expenses (pre Tradition acquisition), as Tradition’s expenses certainly would have been much higher than that in 2022 using a thing called common sense (especially since the super 8k stated $11.5 million for that category in 2021 “audited”).
The general and admin expenses being much higher (over 40% of revenue) so far in 2023, obviously includes all their expansion and growth efforts, since this category was only 13% of revenue in 2021 (audited in super 8k), and is now over 40% of revenue in 2023.
It doesn’t take a rocket scientist to calculate and figure this stuff out, for year over year comparison. The “outlier” is obviously a large growth in that category vs. revenue in 2023. It’s not like their throwing luxury office parties everyday, and bringing in strippers to the office like in The Wolf of Wallstreet movie. The outlier is clearly they are growing a lot in 2023, and absorbing those extra costs in taking on more overhead operations from all the additional they own now.
Exactly ….
And I’m also waiting for him to post “facts”. Because he never does post any.
Gotta be Reg A