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No, how do you know 2022 audited revenue will be revealed soon. We have no indication they will ever be revealed. Thought we might have a PR this morning, explaining this mess, but no!
How do you know?
I don’t get this at all!
It matters, because if all the financials aren’t accounted for, I think they’ll go expert and I don’t think I can trade expert anymore. I think the SEC made it so no one can.
Huh, I never found APSI’s annual. I’ll look again
Where’s is THEIR annual, not Tradition’s. Maybe I’m wrong ( been know to happen), but they acquired Tradition, but they are a separate company, if I am wrong, then I think we need Traditions annual report. Hmm, tomorrow will be interesting.
Don’t they still have to file the 4th quarter 2022 report and the full annual report for 2022, not just the last few days? They acquired Tradition, they didn’t become Tradition.
I personally don’t buy supposedly multi million dollar companies who have less than zero cash on hand. Now that said, they cleaned up their mess with the amended filing.
Maybe. I sold all my shares, didn’t want to get stuck holding them, when/ if they went expert or CE. I’ll see what happens tomorrow, may buy back, may not. I am a little worried there may be another shoe to drop, but who knows. Hopefully they do a PR tomorrow.
I never buy or sell based on what people say. I sold the majority of my shares about a week ago, when I figured they weren’t going to file audited financials on time. I do have the money and figured I’d jump back in if they did. Would have bought 5’s this morning if they hadn’t screwed up the Q. I’ll see what happens tomorrow, not many reasons to trust these guys, but?
Geez, that cost me some money, I would have added this morning, if that had been a positive number. WTF! These guys are unbelievable fuck ups. Talk about the gang that couldn’t shoot straight. I totally agree with you, to have supposedly overdrawn your checking account by nearly a half million dollars was ridiculous and should have alarmed everyone IMO.
That’s kind of BS they were allowed to go in and change that number and not have to file an amended return. That error cost me, I would have added this morning if they hadn’t had negative cash. Good grief what a bunch of fuck ups!
Ahhh, interesting! I’ll go check it out.
Of course I understand they have a line of credit, but to have zero cash on hand and have to finance your day to day expenses seems a little odd to me. It’s like if I want to take out a mortgage and the bank wants to see what my cash on hand is and I say no problem, let me go borrow it. Creditors don’t like that. I just checked Yellow’s (YELL) financials, they have a PPS of .99 and have $154,700,000 cash on hand. Just sayin*
Oh yeah I understand that. I did sell so it’s not really averaging down. I have huge losses here, it might be worth reloading, but I want to see a PR and get some sort of explanation on what happened. Yeah audited financials take time, but they only had to audit nine months, since they changed their fiscal year and they had everything up to that point audited already.
I understand that, but to have a NEGATIVE half million dollars in the checking account, is inexcusable IMO. It appears they had a worse 1st quarter than the previous year. We won’t know that for sure until they show us 2022’s financials. I would also to see what they’ve included in the cost of revenue number and what is included in the general and administrative expenses. They’re spending about $600,000 a month in administrative expenses. I’d like to see what these guys are paying themselves. Anyway, I may load a few shares tomorrow, especially if they’ll put out a PR, explaining some of this mess.
If you bought at .05 or less. My average in APSI was .25, so?
I wish I’d kept the last 10,000, which I sold for an average of about .06. I may load some tomorrow. I am pretty unhappy with Carnes, et al for how this was handled. We still haven’t seen even a P&L for Traditions 2022 earnings or had any statement on when audited financials can be expected. We also still need an attorney’s letter, I think, for what was filed today. I’m also worried he may start diluting. I was always thinking they’d wait until the PPS was $1.00+, but? As of March 31st, they had a bank overdraft of near a half million dollars (zero cash on hand, never a good thing). They did have accounts receivable. Is the stock worth .10, probably. 2nd quarter filing is due by August 15th, that will be a lot more telling.
BB, what are your thoughts on the debt and what appears to be a substantial decrease in revenues?
I have no idea what audited would show, but imo the debt load and lack of cash is very worrying. It looks like they’re borrowing money to pay the day to day bills.
I’m sorry, you are correct. I went back and looked at it again.
That was gross profit, their net profit was a LOSS of $338,136. Better read those financials more carefully
What?
Did you actually read the financials? They have huge debt and an overdraft of nearly $500,000, which means they have NEGATIVE $500,000 in the bank. How will they pay bills? Based on the first quarter financials, their annualized revenues will only be about $33,000,000, with a $4,000,000+ loss! Where is the $125,000,000 Carnes was bragging about and the $5,000,000 profit. Winter will probably be their worst quarter, but they look like they’re nearly bankrupt to me. Nice they finally filed something, I guess.
Those other companies may not be delisted, APSI is going to be. It will be CE after tomorrow and you won’t be able to sell it. Your brokerage is trying to protect you.
I think they would have said something, if that was the case.
I am guessing you won’t be able to buy APSI anywhere after tomorrow.
Wouldn’t that be awesome. They apparently are not going to. For the life of me, I can not understand why they let this happen.
That would be nice if you’re right.
Have BB comment on that, he said 60 days and he’s pretty reliable. I honestly don’t know.
The dark or defunct popped up Friday on the OTC. I don’t think it was there before Friday. https://www.otcmarkets.com/stock/APSI/overview
You are exactly right about that Roofus, that’s the reason I hung in here. I did sell the rest of my shares yesterday. I don’t like knowingly tying my money up for at least 60 days and the fact management has said nothing about the failure to file is suspect, IMO. I was pretty sure they’d come out with something yesterday, but no. I may regret selling them, but time to move on, at least for now.
I don’t know about that Juan, according to BB it’ll take 60 days to trade in the stock again. I thought they were going Defunct Tuesday, but guess last night was it.
Patience doesn’t always win. We’ll know more come Tuesday. Now that their stock is being delisted, there is no reason they can’t talk. They put out that promo piece, did they know then, they weren’t going to file? Time will tell. I gave Carnes the benefit of the doubt, because he never diluted the stock. I have been in this stock for over 17 months, invested over $25,000. I am not some typical person screaming, sue, sue, sue! I also had friends in this that lost money, because of me. I/we don’t need to sue, just file complaints with the SEC. They’ll take it from there.
Bingo!
I think there’s a good chance we’ll see a PR after hours.
Well, Carnes is in danger of a class action suit, if they don’t pull this deal off. The one thing that has given me hope, is the fact he hasn’t diluted the share structure.
Anyone who buys a stock and doesn’t do their own DD is a fool. Tradition is a great company with huge potential. DD it! For gods sake quit whining, I have never seen anything like it.
I know, but I hate to tie money up for at least 60 days. If they’re put a PR out, I could make a better decision.
I have never understood why you’re here. You obviously don’t own shares.