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THAT'S HOW PEOPLE LOST 99% OF THEIR "INVESTMENT"!!ER...GAMBLE!!
... AND IT'S "COPY AND PASTE"!!!!
HOW MANY TIMES DID THINKINGOUTLOUD TELL PEOPLE HERE THAT RIK'S CHARACTER (OR, LACK THEREOF) WAS OF THE UTMOST IMPORTANCE??
ANSWER: ENDLESSLY!
SEC'S 43-PAGE FRAUD CASE HAS 0%-CHANCE-OF-LOSING!!!THEY-DON'T-WASTE-TIME-ON-MICROCAPS-AND-LOSE!!!
PERHAPS YOU SHOULD READ IT:
https://www.sec.gov/litigation/complaints/2018/comp24295.pdf
RIK HAS A VERY GOOD CHANCE AT GOING TO JAIL!!
... WHERE HE BELONGS!
RIK HAS ALREADY LOST OTHER LAWSUITS, AND FACED FRAUD CHARGES RELATED TO FAKE INGREDIENTS, AND HAD THE FDA COME AFTER HIM!!
THIS GUY IS A SERIAL LIAR AND A PROFESSIONAL FRAUDSTER!!!
THIS TIME HE IS IN BIG TROUBLE... GAME OVER!!!
HERE IS THE PROOF, ONCE AGAIN!!!
FACT: HERE IS A SHORT LIST OF RIK'S CRIMINAL "FRIENDS" HE'S HIRED ALONG WITH A SMALL LIST OF HIS LITIGATION MESSES, WITH LINKS:
PHIL PICCOLO:
http://worldwidescam.com/sumphil.htm
http://patrickpretty.com/2014/04/27/mlm-watchdog-phil-piccolo-is-scamming-again/
SEAN PETER McMANUS:
https://structuredsettlements.typepad.com/structured_settlements_4r/2019/01/patriot-settlement-resources-mcmanus-sued-by-finra-for-selling-snake-oil-without-a-license.html
Waiora Lawsuit against Rik (Fake Ingredients/Fraud):
http://aprilmarietucker.com/wp-content/uploads/2013/05/Stanley-J.-Cherelstein-Waiora-lawsuit.pdf
https://www.law360.com/articles/922469/health-co-barred-from-selling-supplement-in-ip-row
Tommy Edward Crutchfield (Snake Guy in the video):
https://www.justice.gov/archive/opa/pr/1999/April/140enr.htm
Dr. Keith Gordon, DMV (Pet Pain Away Spokesperson):
https://www.mycentraljersey.com/story/news/local/middlesex-county/2015/12/28/fancy-pups-avenel-closed-owner-arrested/77981976/
COMPLAINT FOR PATENT INFRINGEMENT, BREACH OF LICENSE AGREEMENT, FRAUD AND RELATED CLAIMS (JURY DEMAND ENDORSED HEREON):
https://insight.rpxcorp.com/litigation_documents/2326309
Excerpt:
Rik’s FRAUD!!!:
22. Although Deitsch and NDA arranged to begin manufacture and sale of Product, they refused to inform Plaintiff, on later inquiries, of any manufacturing details, including the identity of the manufacturer. Case: 5:07-cv-00785-JG Doc #: 1 Filed: 03/16/07 8 of 16. PageID #: 62
-9-23.
Shortly after entering into the Agreement, NDA claimed to encounter problems with its marketing efforts in Germany. In a June 30, 2004, e-mail from his “nutrapharma” e-mail address, Deitsch informed Plaintiff of problems with “the German group” and the manufacturing of the Product.
Plaintiff now believes that no “German Division of MRI Labs” was available to NDA and that Deitsch misrepresented his German marketing infrastructure to induce Plaintiff to enter into the Agreement.
SEC FRAUD LAWSUIT IS NOT SPECULATION!!IT'S-A-DISASTER!!
THAT'S WHEN I WARNED PEOPLE...TO-GET-OUT!!I-WAS-100%-RIGHT!!!
PERFECT STRATEGY TO GO BROKE!!LOL!!
IF U LIKE LOSING MONEY...THIS-IS-YOUR-PERFECT-STOCK!!!LOL!!!
MASSIVE DEBT/LOSSES REQUIRE MASSIVE DILUTION--PERIOD!!
THE DILUTION IS NOT JUST FOR THE NOTES;SELLING SHARES IS HOW FLES/TIM DOES BUSINESS!!THIS IS LEGAL STEALING FROM SHAREHOLDERS!!
IT'S ALL RIGHT IN THE 10K!!!!
10K BRUTAL HIGHLIGHTS:
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake.
We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297.
ABSOLUTE PROOF OF RIK'S FRAUDS HERE--WITH-LINKS:
ALL BELOW:
MASSIVE DEBT
ZERO EARNINGS
SEC FRAUD CASE
FDA WARNINGS
RIK'S CRIMINAL/FRAUD PAST
BALANCE SHEET/RIK'S CRIMINALS/FRAUD/LITIGATION!!! PROOF!
Notice the NET LOSS of $4,028,748!! (Balance Sheet Below)
HENCE... THEY HAVE ZERO EARNINGS AND REVENUE!!! IF YOU THINK THAT $120,000 OF REVENUES IS GOOD...
ALL RIK DID FOR US, WAS LIE TO US, AS HE HAS BEEN DOING TO ALL SHAREHOLDERS FOR OVER 15 YEARS!! HERE'S PROOF BELOW!!
FACT: HERE IS A SHORT LIST OF RIK'S CRIMINAL "FRIENDS" HE'S HIRED ALONG WITH A SMALL LIST OF HIS LITIGATION MESSES, WITH LINKS:
PHIL PICCOLO:
http://worldwidescam.com/sumphil.htm
http://patrickpretty.com/2014/04/27/mlm-watchdog-phil-piccolo-is-scamming-again/
SEAN PETER McMANUS:
https://structuredsettlements.typepad.com/structured_settlements_4r/2019/01/patriot-settlement-resources-mcmanus-sued-by-finra-for-selling-snake-oil-without-a-license.html
Waiora Lawsuit against Rik (Fake Ingredients/Fraud):
http://aprilmarietucker.com/wp-content/uploads/2013/05/Stanley-J.-Cherelstein-Waiora-lawsuit.pdf
https://www.law360.com/articles/922469/health-co-barred-from-selling-supplement-in-ip-row
Tommy Edward Crutchfield (Snake Guy in the video):
https://www.justice.gov/archive/opa/pr/1999/April/140enr.htm
Dr. Keith Gordon, DMV (Pet Pain Away Spokesperson):
https://www.mycentraljersey.com/story/news/local/middlesex-county/2015/12/28/fancy-pups-avenel-closed-owner-arrested/77981976/
COMPLAINT FOR PATENT INFRINGEMENT, BREACH OF LICENSE AGREEMENT, FRAUD AND RELATED CLAIMS (JURY DEMAND ENDORSED HEREON):
https://insight.rpxcorp.com/litigation_documents/2326309
Excerpt:
Rik’s FRAUD!!!:
22. Although Deitsch and NDA arranged to begin manufacture and sale of Product, they refused to inform Plaintiff, on later inquiries, of any manufacturing details, including the identity of the manufacturer. Case: 5:07-cv-00785-JG Doc #: 1 Filed: 03/16/07 8 of 16. PageID #: 62
-9-23.
Shortly after entering into the Agreement, NDA claimed to encounter problems with its marketing efforts in Germany. In a June 30, 2004, e-mail from his “nutrapharma” e-mail address, Deitsch informed Plaintiff of problems with “the German group” and the manufacturing of the Product.
Plaintiff now believes that no “German Division of MRI Labs” was available to NDA and that Deitsch misrepresented his German marketing infrastructure to induce Plaintiff to enter into the Agreement.
BALANCE SHEET:
NUTRA PHARMA CORP.
Consolidated Statements of Operations
For the Years Ended
December 31, 2017 2016
Net sales $ 120,979 168,356
Cost of sales 26,903 38,965
Impairment of inventory - 184,039
Gross profit 94,076 (54,648)
Operating expenses:
Selling, general and administrative - including stock based compensation of $73,576 and $390,608 for the years ended December 31, 2017 and 2016, respectively 1,476,016 1,988,868
Total operating expenses 1,476,016 1,988,868
LOSS FROM OPERATIONS $(1,381,940) (2,043,516)
Other (income) expenses
Rental income - 19,381
Interest expense (358,651) (293,785)
Change in fair value of derivatives (2,273,968) (1,258,649)
Gain (Loss) on settlement of indebtedness, net (14,189) 128,956
Other expenses (2,646,808) (1,404,097)
Net loss before income taxes (4,028,748) (3,447,613)
Provision for income taxes - -
NET LOSS $(4,028,748) (3,447,613)
HERE'S THE PATHETIC LOW-DOWN ON RPI-78M!!NOTHING!!!!
THEY'VE HAD RPI-78M ORPHAN STATUS FOR 4 YEARS!!
RIK KEEPS LYING AND GIVING FALSE HOPE ON A PHASE 2, WHICH A) HE CAN'T AFFORD TO DO, AND B) HE WON'T RELEASE THE ACTUAL RESULTS FROM PHASE 1... SO THERE IS NOTHING THERE!!!!! IF THERE WAS SOMETHING THERE TO WORK WITH, HE'D EASILY BE ABLE TO GET INVESTORS TO HELP WITH THE FINANCING OF IT!!
AND MOST IMPORTANTLY, IT'S ORPHAN DRUG STATUS, WHICH MEANS IT WILL NEVER MAKE ANY SERIOUS MONEY ANYWAYS... ONLY IF IT CAN BE SPRING-BOARDED TO NEW MORE PROFITABLE DRUGS -- HE CAN'T AFFORD THAT!!!
RPI-78M in clinical trials
Link: https://multiplesclerosisnewstoday.com/rpi-78m
RPI-78M was granted orphan drug designation by the U.S. Food and Drug Administration (FDA) to treat MS in children on Sept. 8, 2015. Orphan drug status is granted to therapies that may not be lucrative to pharmaceutical companies, but are highly beneficial for people with rare diseases.
The company has completed Phase 1 clinical trials for RPI-78M, but these results have not been published. The company states that the treatment was well-tolerated and aims to move the potential drug to Phase 2 clinical trials soon.
In September 2016, Nutra Pharma announced a partnership with Omnia Biologics to prepare for the upcoming clinical trials. Omnia Biologics will clone and purify the alpha-cobratoxin gene required to produce RPI-78M. Nutra Pharma has announced a similar collaboration on May 31, 2017, with the University of Maryland’s Bioprocess Scale-up Facility (BSF), which will aim to optimize the sustainable production of RPI-78M at high quality, using the cloned gene.
ACTUALLY, THEY LEASE SPACE WITH A SUPPOSED-LAB...MAYBE!!LOL!!
TOUGH TO KEEP UP WITH ALL OF RIK'S LIES AND KNOW WHAT IS REALLY GOING ON.
THE LAB IS PROBABLY JUST FOR SHOW AND NOT FUNCTIONAL... OTHERWISE, WHY HASN'T ANY WORK BEEN DONE IN THERE?
I MEAN, RIK CAN'T EVEN PAY THE RENT ON TIME...
Item 2. Properties
In February of 2016 we moved offices to 12538 West Atlantic Blvd, Coral Springs, Florida. We have a 3-year lease that expires on February 1, 2019 with an option to renew for an additional 3 years. Our offices are comprised of a reception area, conference room, 6 offices, a restroom, a kitchen and a file room. Our offices are adequate for our needs. We pay monthly rent of approximately $3,200.
Since May 13, 2004, ReceptoPharm has leased their office space at 1537 NW 65th Avenue, Plantation, Florida for three consecutive two-year terms. ReceptoPharm's 5,500 square foot facilities include a reception area, conference room and five offices, a warehouse and a laboratory. On May 10, 2010 ReceptoPharm renewed the lease with Shelter Developers of America (“Shelter”) for the last two-year term beginning on June 1, 2010 and ending May 31, 2012. On July 9, 2012 ReceptoPharm entered into a new lease agreement for a five year period beginning on August 1, 2012. In February of 2016 we signed a lease extension agreement in exchange for certain leasehold improvements that extended our lease through July 31, 2022. The lease calls for current monthly payments of approximately $6400, which includes base rent, common area expenses, real estate taxes and insurance.
We incurred rent expense of $127,396 and $116,257 for the years ended December 31, 2017 and 2016.
Excellent! And Remember These Beauties:
WHALES ACCUMULATING!!!
IP ALONE WARRANTS MARKET CAP 10X HIGHER!!
COVENTRY DEAL IS HUUUUGE!!!!
THE COMPREHENSIVE DD PACKAGE!!!
MMs AND SHORTS HOLDING THIS BACK...
GRADE 9 MATH PROVES THAT NPHC WILL TAKE 1% OF WORLDWIDE OPIOID REPLACEMENT MARKET!!!
MARK IT!!!!
Yeah... those were good times!! ... As NPHC was crashing every day!
DILUTION-NOT-JUST-FOR-NOTES;SELLING-SHARES-IS-HOW-FLES-DOES-BUSINESS!!VERY-BAD!!!
10K BRUTAL HIGHLIGHTS:
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake.
"OUR":WHEN A COMPANY OWNS SOMETHING!!LOL!!!RIK-GOES-TO-JAIL!!!
THIS IS WHY THE SEC HAS CHARGED NPHC/RIK WITH FRAUD AND MISLEADING STATEMENTS!!!
WHY DO YOU KEEP QUESTIONING AND ARGUING WITH PEOPLE WHO HAVE BEEN 100% RIGHT AS NPHC HAS CRASHED FROM $.0069 TO $.0002!!???
WHY!!!!????
AS THINKINGOUTLOUD AND FLAFLYERSFAN POINTED OUT, RIK HAS A 15-YEAR HISTORY OF FRAUD AND BEING CAUGHT!!!!
WHY WOULD YOU BELIEVE ANYTHING THIS FRAUDSTER SAYS!!??
WHY!!!!?????
YES, OVER 40 PAGES FROM THE SEC!!! LOL!!!HE'S-DONE!!!
OH LOOK,ANOTHER PHOTO OF RIK LYING (W-JACK-BREWER),LYING-ABOUT-OWNING-THE-LAB:
UNDER THE PHOTO IT CLEARLY STATES "OUR LAB, WHERE OUR PRODUCTS ARE MADE"!!!! LOL!!!
THAT'S A TOTAL LIE, AS NPHC HAS NEVER OWNED A LAB... AS I'VE POINTED OUT BEFORE!!! HILARIOUS!!
https://m.facebook.com/photo.php?fbid=10154598100813061
SEC CLEARLY HAS EVIDENCE THAT HE DID!!LOL!!!
TOTAL CRASH!! TOTAL CRASH SINCE APRIL!!!
MASSIVE DEBT($18MIL);MASSIVE-LOSSES($5MIL)=MASSIVE-DILUTION!!THAT'S-ALL-U-NEED-TO-KNOW!!!
NOTHING ELSE MATTERS!!!
DISCUSSING THE NOTES, THE VOLUME, THE DATES... IT'S ALL MEANINGLESS!!
THE DEBT AND LOSSES MEAN MASSIVE DILUTION TO PAY FOR IT ALL!!
TIM IS USING SHAREHOLDER MONEY TO PAY FOR EVERYTHING!!!
Quote:Item 1A. Risk Factors
Our Losses Raise Doubt As To Whether We Can Continue As A Going Concern.
We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297.
These factors among others indicate that we may be unable to continue as a going concern, particularly in the event that we cannot generate revenues, obtain additional financing and/or obtain profitable operations. As such, there is substantial doubt as to our ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty and if we cannot continue as a going concern, your investment in us could become devalued or worthless.
Quote:The Company may conduct further offerings in the future, in which case your shareholdings will be diluted.
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake.
If common stock is issued in return for additional funds, or upon conversion or exercise of outstanding convertible debentures or warrants, the price per share could be lower than that paid by existing common stockholders. The Company anticipates continuing to rely on equity sales of common stock and issuances of convertible debt and/or warrants convertible or exercisable into shares of common stock in order to fund its business operations. If the Company issues additional shares of common stock, your percentage interest in the Company will be lower. This condition, often referred to as “dilution”, could result in a reduction in the per share value of your shares of common stock.
TIM IS FOOLING EVERYONE... SUCKING THEM INTO BUYING INTO THIS DILUTION!! DON'T BE FOOLED!!! MA
Hopefully Rik goes to jail soon...
FLES:THE DISASTER CONTINUES!!MASSIVE-DEBT;MASSIVE-DILUTION;MASSIVE-LOSSES!!!
Item 1A. Risk Factors
Our Losses Raise Doubt As To Whether We Can Continue As A Going Concern.
We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297.
These factors among others indicate that we may be unable to continue as a going concern, particularly in the event that we cannot generate revenues, obtain additional financing and/or obtain profitable operations. As such, there is substantial doubt as to our ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty and if we cannot continue as a going concern, your investment in us could become devalued or worthless.
The Company may conduct further offerings in the future, in which case your shareholdings will be diluted.
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake.
If common stock is issued in return for additional funds, or upon conversion or exercise of outstanding convertible debentures or warrants, the price per share could be lower than that paid by existing common stockholders. The Company anticipates continuing to rely on equity sales of common stock and issuances of convertible debt and/or warrants convertible or exercisable into shares of common stock in order to fund its business operations. If the Company issues additional shares of common stock, your percentage interest in the Company will be lower. This condition, often referred to as “dilution”, could result in a reduction in the per share value of your shares of common stock.
Rik must be thinking, THE "JIG IS UP!!" YIKES!!
Perhaps a year or two in jail will do him some good...
WRONG!!!LOL!!!!!HAHA!!!
AH... STILL ADDING I SEE!!!! LOL!!!!!
BRUTAL DECLINE!!! $.0002...
FLES MUST SELL MOST OF ITS 20-BILLION-A/S-TO-SURVIVE!!MASSIVE-DEBT/MASSIVE-LOSSES!!
MASSIVE CRASH CONTINUES:10Q-WILL-NOT-STOP-MASSIVE-DILUTION-OR-FIX-DEBT!!
THIS COMPANY IS A TOTAL LOSER!!
DOWN 99% IN JUST OVER 3 MONTHS!!
IT IS/WAS SO OBVIOUS THAT THIS LOSER STOCK WOULD/WILL CRASH!!
IT'S ONLY BEING HELD ABOVE $.01 TO GET MORE PEOPLE TO BUY INTO THE DILUTION!!! DON'T BE FOOLED!!!
BRUTAL 10K HIGHLIGHTS:
] We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297.
The Company may conduct further offerings in the future, in which case your shareholdings will be diluted.
Thanks... Very interesting.
I would love to see some links to similar SEC complaints and see what happened in those cases... if anyone has the time and/or inclination to research that -- I don't, but I am curious as to what happened to the companies and CEOs.
MASSIVE CRASH CONTINUES:10Q-WILL-NOT-STOP-MASSIVE-DILUTION-OR-FIX-DEBT!!
THIS COMPANY IS A TOTAL LOSER!!
DOWN 99% IN JUST OVER 3 MONTHS!!
IT IS/WAS SO OBVIOUS THAT THIS LOSER STOCK WOULD/WILL CRASH!!
BRUTAL 10K HIGHLIGHTS:
We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297.
The Company may conduct further offerings in the future, in which case your shareholdings will be diluted.
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake. If common stock is issued in return for additional funds, or upon conversion or exercise of outstanding convertible debentures or warrants, the price per share could be lower than that paid by existing common stockholders. The Company anticipates continuing to rely on equity sales of common stock and issuances of convertible debt and/or warrants convertible or exercisable into shares of common stock in order to fund its business operations. If the Company issues additional shares of common stock, your percentage interest in the Company will be lower. This condition, often referred to as “dilution”, could result in a reduction in the per share value of your shares of common stock.
Item 1A. Risk Factors
Our Losses Raise Doubt As To Whether We Can Continue As A Going Concern.
We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297. These factors among others indicate that we may be unable to continue as a going concern, particularly in the event that we cannot generate revenues, obtain additional financing and/or obtain profitable operations. As such, there is substantial doubt as to our ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty and if we cannot continue as a going concern, your investment in us could become devalued or worthless.
We cannot assure you that we will effectively manage our growth.
The 4LESS Corp expects to continue hiring additional employees, launch new products and websites. The growth and expansion of our business and products create significant challenges for our management, operational, and financial resources, including managing multiple relationships and interactions with users, distributors, vendors, and other third parties. As the Company continues to grow, our information technology systems, internal management processes, internal controls and procedures and production processes may not be adequate to support our operations. To ensure success, we must continue to improve our operational, financial, and management processes and systems and to effectively expand, train, and manage our employee base. As we continue to grow, and implement more complex organizational and management structures, we may find it increasingly difficult to maintain the benefits of our corporate culture, including our current team’s efficiency and expertise, which could negatively affect our business performance.
Our expansion places a significant strain on our management, operational, financial, and other resources.
We are expanding our operations, including increasing our product and service offerings and scaling our infrastructure to support our online retail business. This expansion increases the complexity of our business and places significant strain on our management, personnel, operations, systems, technical performance, financial resources, and internal financial control and reporting functions. We may not be able to manage growth effectively, which could damage our reputation, limit our growth, and negatively affect our operating results.
Our costs may grow more quickly than our revenues, harming our business and profitability.
We expect our expenses to continue to increase in the future as we expand our product offerings, expand production capabilities and hire additional employees. We expect to continue to incur increasing costs, in particular for working capital to purchase inventory and marketing. Our expenses may be greater than we anticipate which would have a negative impact on our financial position, assets and ability to invest further in the growth and expansion of our business.
The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business.
The 4LESS Corp currently depends on the continued services and performance of key members of its management team, in particular, its founder and CEO, Chris Davenport. If we cannot call upon him or other key management personnel for any reason, our operations and development could be harmed. The Company has not yet developed a succession plan. Furthermore, as the Company grows, it will be required to hire and attract additional qualified professionals such as programming, accounting, legal, finance, marketing, customer service and any other required experts. The Company may not be able to locate or attract qualified individuals for such positions, which will affect the Company’s ability to grow and expand its business.
NOPE... WOULD'VE ALREADY BEEN DROPPED-IF-POSSIBLE...LOL!!!
Sure...but who knows what is really going on with NPHC... perhaps Rik has been hiding a massive mess that can't be cleaned up!
It is fun to think about someone else being given the Chairman and CEO position and see what happens...
Sure, the one shred of hope for NPHC--IF-NO-DELISTING...
It won't help if they suspend trading, though...
READ THE 10K:MASSIVE DEBT=MASSIVE-DILUTION!!LOL!!HERE:
THIS COMPANY IS A TOTAL LOSER!!
THE MASSIVE CRASH WILL CONTINUE!!! DOWN 99% IN JUST OVER 3 MONTHS!!
BRUTAL 10K HIGHLIGHTS:
The Company may conduct further offerings in the future, in which case your shareholdings will be diluted.
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake. If common stock is issued in return for additional funds, or upon conversion or exercise of outstanding convertible debentures or warrants, the price per share could be lower than that paid by existing common stockholders. The Company anticipates continuing to rely on equity sales of common stock and issuances of convertible debt and/or warrants convertible or exercisable into shares of common stock in order to fund its business operations. If the Company issues additional shares of common stock, your percentage interest in the Company will be lower. This condition, often referred to as “dilution”, could result in a reduction in the per share value of your shares of common stock.
Item 1A. Risk Factors
Our Losses Raise Doubt As To Whether We Can Continue As A Going Concern.
We had an accumulated deficit through January 31, 2019 of $17,689,307 and had a working capital deficit at January 31, 2019 of $5,322,297. These factors among others indicate that we may be unable to continue as a going concern, particularly in the event that we cannot generate revenues, obtain additional financing and/or obtain profitable operations. As such, there is substantial doubt as to our ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty and if we cannot continue as a going concern, your investment in us could become devalued or worthless.
We cannot assure you that we will effectively manage our growth.
The 4LESS Corp expects to continue hiring additional employees, launch new products and websites. The growth and expansion of our business and products create significant challenges for our management, operational, and financial resources, including managing multiple relationships and interactions with users, distributors, vendors, and other third parties. As the Company continues to grow, our information technology systems, internal management processes, internal controls and procedures and production processes may not be adequate to support our operations. To ensure success, we must continue to improve our operational, financial, and management processes and systems and to effectively expand, train, and manage our employee base. As we continue to grow, and implement more complex organizational and management structures, we may find it increasingly difficult to maintain the benefits of our corporate culture, including our current team’s efficiency and expertise, which could negatively affect our business performance.
Our expansion places a significant strain on our management, operational, financial, and other resources.
We are expanding our operations, including increasing our product and service offerings and scaling our infrastructure to support our online retail business. This expansion increases the complexity of our business and places significant strain on our management, personnel, operations, systems, technical performance, financial resources, and internal financial control and reporting functions. We may not be able to manage growth effectively, which could damage our reputation, limit our growth, and negatively affect our operating results.
Our costs may grow more quickly than our revenues, harming our business and profitability.
We expect our expenses to continue to increase in the future as we expand our product offerings, expand production capabilities and hire additional employees. We expect to continue to incur increasing costs, in particular for working capital to purchase inventory and marketing. Our expenses may be greater than we anticipate which would have a negative impact on our financial position, assets and ability to invest further in the growth and expansion of our business.
The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business.
The 4LESS Corp currently depends on the continued services and performance of key members of its management team, in particular, its founder and CEO, Chris Davenport. If we cannot call upon him or other key management personnel for any reason, our operations and development could be harmed. The Company has not yet developed a succession plan. Furthermore, as the Company grows, it will be required to hire and attract additional qualified professionals such as programming, accounting, legal, finance, marketing, customer service and any other required experts. The Company may not be able to locate or attract qualified individuals for such positions, which will affect the Company’s ability to grow and expand its business.
WHAT'S YOUR POINT!? MY-POINT-IS-RIK-COULD-GO-TO-JAIL!!NPHC-DONE!!LOL!!!
CAN'T GOOGLE IT YOURSELF!!??????? HERE:
https://www.pacermonitor.com/public/case/25779230/Securities_and_Exchange_Commission_v_Nutra_Pharma_Corporation_et_al
https://www.federalpay.org/employees/securities-and-exchange-commission/krishnamurthy-preethi
https://www.sec.gov/news/press-release/2019-159
https://www.sec.gov/news/press-release/2018-83
https://www.sec.gov/litigation/litreleases/2017/lr23814.htm
WHY CONTINUOUSLY QUESTION PEOPLE WHO HAVE BEEN 100% RIGHT!!???
WAITED ON 10K: CRASH!!WAIT-ON-10Q:CRASH!!!MASSIVE-DILUTION!!CRASH!!!
END OF STORY ON FLES!!!
IT'S CALLED DOING-A-LITTLE-RESEARCH!TRY-IT-SOMETIME!!LOL!!!
The lawyer for the SEC seems to have a lot of experience.
yup...
yup...
I have no idea... but even when there are class action suits, the common shareholder (the little guys) never seem to get much at all... sadly.
FLES:THE DISASTER CONTINUES-MASSIVE-DEBT=MASSIVE-DILUTION!!
MATH CANNOT BE ESCAPED!!
FLES WILL BE A SUB-PENNY STOCK SOON ENOUGH!!
BTW, THE RECORD SHOWS THAT MY FIRST WARNING (NEGATIVE POST) ON $FLES WAS IN FEBRUARY!!... AND WHAT A DISASTER SINCE!!!
99.9999% CRASH!!!
MASSIVE DEBT!!
MASSIVE LOSSES!!!
MASSIVE DILUTION!!
PERIOD!!