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And if he hadn't mentioned it whatsoever there would be people calling for an update on the process. Damned if he does damned if he doesn't. I'll take over transparency than none at all. Simple as that.
No one has mentioned either those game distribution contracts that were 6 figures. Just a few of those and that's $500,000 straight to top line revenue. It's going to be a great week my AMFE family. A
And I'm getting married on Friday!!
You don't find this type of transparency with most companies for that matter. When a CEO is this transparent there of course is going to be a few "insert foot into mouth" moments. I'll continue to say it over and over again. I would much rather have a CEO who is over transparent than one who isn't at all.
Yeah I remember reading that too. Best time to start accumulating unless they were like us when we were able to gobble up $.09s and $.10s. Already up 30% on those shares.
Someone on the board posted that big money could be coming in from Miami this week as word is getting out among larger investors regarding the potential here. Wouldn't be surprised if there was an S&L somewhere in Florida at some point.
Here we go, some nice hits there! Big time support at $.12. Our lower channel limit. Thin ask right now
Again conjecture. The audit was done, sent to them. Sent back because it didn’t meet the proper criteria and now they’re fixing it. I would’ve loved the carpenter approach, measure twice cut once but he’s learning just like every other CEO has had to do. It’s very simple to understand the timeline. March 7th Roger in his mind has completed the audit. Numbers, footnotes, everything. RBSM says wait a minute it doesn’t meet our criteria, you need to change some things. Roger never have done an audit before and an accounting staff that has never done footnotes before could’ve missed any number of things and instead of hiring them back in March he and his team attempt to do it themselves. RBSM can’t hand hold them and offers no sort of advice or direction regarding the meat and potatoes of the audit. Again the numbers are the easiest part. Because of the lack of expertise he goes and hires a firm to help with that. If he had hired them back in March this would all be behind us. I don’t fault him for attempting to do it on his own. Now he knows. Can’t fault the guy for learning on the job.
It’s voluntary in the sense that AMFE could stay on the pinks forever. To bring more eyes and outside investors to the party requires an uplist. A voluntary decision made by management. The audit will be here, what say you after that?
We all do. He sent multiple tweets out on March 7th. Or are you talking insider information?
A voluntary audit. What would everyone be talking about if he hadn’t mentioned whatsoever that AMFE was in the audit process?
We could debate that until we’re blue in the face. There’s no way to verify that portions of the audit weren’t completed when he tweeted that out in March 7th. There are many inferences that could be made and it’s nothing more than speculation and conjecture. The company paid for one, that’s verifiable, that the CFO squad are assisting with the footnotes, that’s verifiable and there are many a people on here who do this for a living and have relayed that the footnotes are THE MOST important part and THE MOST difficult part of the audit itself. When roger tweeted that out, it easily could’ve been done, in his mind, and the footnotes were way off. Just like when you submit a master’s thesis, think it’s done and then your cohort leader says nope, you’ve got some changes to make before we can officially submit. And I wouldn’t be surprised if that happens all the time, Roger’s only downfall is his transparency. And I’ll take a too transparent CEO over a non-existent CEO any day of the week. Makes those pump and dump claims even more outrageous
He never lied. Never once did he say it was filed or would definitively be filed on a certain date. He has only relayed information that was presented to him by a company he hired. There’s a difference between “should be” and “will be”. Never once a concrete date where he said “today it will be filed”
CW, any chance Roger might be holding onto the completed audit in order to finalize the uplist requirements? Essentially a PR saying we’ve uplisted, not necessarily an audit one even though it’d be available to view.
Q3 numbers should come in between $3-3.5M simply based on S&L trends. No idea what NSI might bring to the table with the new customers. If we see $4m I’d say a significant 15-20% bump in pps is highly probably.
The income statement has nothing to do with equity!! Do you know the difference between the income statement and the balance sheet and the Shareholders equity statement and the statement of cash flows? That's comparing apples to oranges, and isn't how accounting works.
Revenues 3,307,549
Cost of Goods Sold 1,789,212
Gross Profit 1,518,337
Operating expenses
General and administration 1,317,819
Professional fees 5,511
Selling and marketing 41,324
Interest 64,917
TOTAL OPERATING EXPENSES 1,429,571
Net Profit (loss) 88,766
That's from operating activities. (FacePalm) lol
They made 88K in profit in Q2, look at the statement of cash flow. There are 4 statements that need to be filed each quarter, income statement, balance sheet, statement of cash flows, and SE. Most of the 88K was retained as Cash on Hand by the looks of it.
AMFE assets=6,580,814 AMFE Liabilities=5,677,769
6,580,814-5,677,769=903,045 which is the share holders equity. Share holders equity consists of these accounts:Common stock, Preferred Shares, Additional paid-in capital, Accumulated deficit
Equity is exactly that stock holders equity. How much money does AMFE get from its share holders from stock issuances? Assets=liabilities +SE. Assets-liabilities=SE. Their equity isn’t their market cap, it’s from any registered stock issuances at a certain par value. For them it’s .001 at 486M so their SE is roughly $486,000!
Yes I do deny that. Accounting 101. Only way any type of reinvestment in the company would show in the equity account would be if they used that money for a stock buy back or a dividend
Which is wrong. Any type of reinvestment will either show as an asset or an expense.
You said profits used to reinvest in the company would show up in the equity account not the asset account. Profits used to buy anything that is depreciated will show up in the asset account. Whether that is property, plant or equipment. If it isn’t a depreciable item like sending someone to training or a business trip that is an expense and would be on the income statement and not the balance sheet.
Depreciation is found on the income statement and balance sheet. What’s “fuzzy” seems to be why that is? I’m just trying to help
I was just giving you accounting examples so you understand the difference between different depreciation accounts.
Another example for you to illustrate:
To illustrate, let's assume that a retailer purchases new display racks at a cost of $84,000. This asset is estimated to have a useful life of 7 years (84 months), no salvage value, and will be depreciated using the straight-line depreciation method. Therefore, during each month of the asset's life the retailer will report depreciation expense of $1,000. However, the accumulated depreciation will be reported on the balance sheet at $1,000 after the first month, $2,000 after the second month, $3,000 after the third month, and so on until it reaches $84,000 at the end of 84 months.
Assuming a manufacturer purchases manufacturing equipment for $84,000 with the same life and salvage value, the $1,000 of monthly depreciation will be part of manufacturing overhead (instead of being reported directly on the income statement as depreciation expense). As part of manufacturing overhead it will be allocated to the products manufactured. When the products are sold, their production costs (which include their allocated share of depreciation and other manufacturing overhead costs) will be reported on the income statement as the cost of goods sold. The accumulated depreciation will be reported on the balance sheet just as it was for the retailer.
Depreciation on the income statement is the amount of... depreciation expense that is appropriate for the period of time indicated in the heading of the income statement. The depreciation reported on the balance sheet is the accumulated or the cumulative total amount of depreciation that has been reported as expense on the income statement from the time the assets were acquired until the date of the balance sheet.
Let's illustrate the difference with an example. A company has only one depreciable asset that was acquired three years ago at a cost of $120,000. The asset is expected to have a useful life of 10 years and no salvage value. The company uses straight-line depreciation on its monthly financial statements. In the asset's 36th month of service, the monthly income statement will report depreciation expense of $1,000. On the balance sheet dated as of the last day of the 36th month, accumulated depreciation will be reported as $36,000. In the 37th month, the income statement will report $1,000 of depreciation expense. At the end of the 37th month, the balance sheet will report accumulated depreciation of $37,000.
Article below 70% of companies paid zero in corporate tax....
https://www.forbes.com/sites/aparnamathur/2016/04/20/why-70-of-companies-paid-zero-in-corporate-taxes-they-had-zero-profits/#4bef7b7556e3
I'd suggest reading up on companies that have zero net income. Doesn't mean they aren't profitable, just means they have a great accountant
Because an asset is depreciated for tax purposes means it has no asset value before depreciation is even booked
Profits being used in capital purchases to lower your tax liability would not show in the equity report.
Why was revenue down? Didn't roger even say Q2 revenue would be lower because of seasonal change and certain moving parts. You know that's the dead of winter in CANADA right?
$400,000. And what was the for again? Debt repayment mostly and $60k in cash. I'm not talking profit, you said dilution. The company issued less than 1% of the total O/S. They're making money, and most company are never profitable. You know who else has never made a profit, AMAZON. NETFLIX doesn't either. AMFE will have NI, they already have and will continue to do so which will allow them to use their own working capital for expansion projects instead of stock issuances. I don't care if they're profitable right now, I care what their revs look like. Obviously their expenses are going to be higher because they're in hyper growth. Again business 101
440k more than half at the share holders expense! Even with that the numbers don't add up. Just another pink.
Had almost 1M less in cash inflow because of the expansion. Takes money to make money. Business 101
And how much did they spend on the expansion and opening of Midtown? Almost $700,000. Come on man, only telling half the story, AGAIN.
And that's all part of the 473M O/S which we know about and they reduced their A/S by 200M what's your point? That's not diluting the stock if they're issuing shares at or about the value of the company. Diluting the stock would have been if they issued shares at $.01 instead of $.10 and greatly increased the O/S. That's 4.4 million shares, less than 1% of the total O/S. Such dilution. Next!
Gaps don't need to be filled, ever. That's an old wives tale and carries no weight in investing. There are a multitude of stocks that have never filled their gaps. When news comes out and a stock "gaps up" and then say quarterly numbers come out or some huge PR is released and it "gaps up" again, there would be no reason for that first gap to fill. A completely misnomer.
Audit posted tomorrow morning, I'm UP