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From the Q: gross profit $154,193 see below
RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2019 COMPARED TO THE SIX MONTHS ENDED JUNE 30, 2018
Revenue
We recognized net revenue of $443,193 and $11,517 during the six-month periods ended June 30, 2019 and 2018, respectively. Revenues were from the sales of our nutrition supplement in the six months ended June 30, 2018 and from both supplements sales and telemedicine for the six months ended June 30, 2019. The increase in revenue is attributable to the acquisition of the CareClixâ„¢ software and start-up of the new business of CareClix, Inc. in April 2019.
Cost of Revenue
We recognized cost of revenues of $288,563 and $4,450 during the six-month periods ended June 30, 2019 and 2018, respectively. Cost of revenue consisted of product costs and fulfillment fees for sales through the Internet for nutrition supplement sales and fees to an unrelated medical professional corporation for providing medical doctors for telemedicine consulting services.
Gross Profit / (Loss)
Gross profit was $154,630 and $7,067 for the six month periods ended June 30, 2019 and 2018, respectively.
The Q is showing that CareClix is profitable (see below)
Revenue:
We recognized net revenue of $438,842 and $6,599 during the three-month periods ended June 30, 2019 and 2018, respectively. Revenues were from the sales of our nutrition supplement in the three months ended June 30, 2018 and from both supplements sales and telemedicine for the three months ended June 30, 2019. The increase in revenue is attributable to the acquisition of the CareClixâ„¢ software and start-up of the new business of CareClix, Inc. in April 2019.
Cost of Revenue:
We recognized cost of revenues of $286,012 and $2,466 during the three-month periods ended June 30, 2019 and 2018, respectively. Cost of revenue consisted of product costs and fulfillment fees for sales through the Internet for nutrition supplement sales and fees to an unrelated medical professional corporation for providing medical doctors for telemedicine consulting services.
Gross Profit / (Loss):
Gross profit was $152,830 and $4,133 for the three-month periods ended June 30, 2019 and 2018, respectively.
Yeah 7 companies team up together. Lol
Enjoy Paris!
Maybe a MM stepped in front of your .11
A good grasp of the obvious! Captain Obvious.
You mean "Nasty" is a good way. LOL
As we thought it would be!
Yes they didn't come this far to fail and they didn't raise $3 million from friends and family to fail.
We know what the DD says and where we are going with CareClix.
I agree DTGoody. That is why I made the following post earlier today after reviewing some of the DD on SOLI.
was16 Member Level Tuesday, 09/10/19 10:24:47 AM
Re: None 0
Post #
27424
of 27498
I was going over some DD on SOLI this morning:
1)Telemedicine is just starting as a sector and is one of the fastest growing! Why wouldn't you want to be positioned in it.
2.) Became a Fully Audited GAAP filer with the SEC.
3.) Took Gregg Mullholland to Court for his illegally issued shares and won.
4.) Retired the 12.6 million illegally shares reducing the Float to 36 Million.
5.) Acquired CareClix a rapidly growing company in a Red Hot Telemedicine Sector! It seems like every week news comes out on CareClix regarding a new deal/partnership.
6.) Found a Market Maker to Sponsor them and filed the form 211 in July.
7.) The Market Maker has Sponsored them and Filed the 211 with Finra.
8.) Landed Greg Arms as a senior advisor who worked for Chubb $CB and is part of Stoneybrook Capital.
Overall, the reasons I bought in are still the reasons I hold today.
The company hasn't filed the 10Q yet because they are working thru the accounting questions/items. Read the 8Ks.
Thanks for the info. Good post.
NITE (VIRTU Americas LLC) also shows SOLI
I wasn't disagreeing with you that it could be CDEL. But I personally haven't seen any definitive proof who the sponsoring MM was.
How does this lead you to believe that CDEL is SOLI's sponsoring market maker?
Neophius, how do you know that CSTI is our sponsoring market maker for SOLI?
We have a MM who filed the form 211. The form is with FINRA and is currently in open status. It is still going thru the process to get accepted.
Yes Mikeo56 yes!
We just wait for the 10Q
Steph1971, your post is right on!
We know that CareClix is global and I'm sure they did encounter some difficulties in how to handle the accounting as they said in their 8Ks explaining the delay.
I was going over some DD on SOLI this morning:
1)Telemedicine is just starting as a sector and is one of the fastest growing! Why wouldn't you want to be positioned in it.
2.) Became a Fully Audited GAAP filer with the SEC.
3.) Took Gregg Mullholland to Court for his illegally issued shares and won.
4.) Retired the 12.6 million illegally shares reducing the Float to 36 Million.
5.) Acquired CareClix a rapidly growing company in a Red Hot Telemedicine Sector! It seems like every week news comes out on CareClix regarding a new deal/partnership.
6.) Found a Market Maker to Sponsor them and filed the form 211 in July.
7.) The Market Maker has Sponsored them and Filed the 211 with Finra.
8.) Landed Greg Arms as a senior advisor who worked for Chubb $CB and is part of Stoneybrook Capital.
Overall, the reasons I bought in are still the reasons I hold today.
And what if they did answer? What are they going to say, "working on it"?
If we get any communication on the status of the 10Q, it will be from an official channel, 8K like they have done each time.
I respect a company that uses the proper channels to communicate with the public.
No pumping or spinning from SOLI. They don't take chances on having things look inappropriate.
Great post Ed! I have emailed and called the company many times of the past 2 years and nothing. They communicate thru the official channel only...8Ks,filings,etc.
For me, the DD hasn't changed. We just need the 10Q filed.
I didn't pass over anything.
DID YOU READ MY POST? I copied it below so you can read it. It says what the proceeds are for. To pay back Scott for the money he lent the company. Read it.
was16 Member Level Monday, 09/09/19 01:30:30 PM
Re: Huggy Bear post# 27240 0
Post #
27249
of 27262
You are posting misinformation.
There isn't anything in Section 16 of the Form D supporting your claim of a promotion. The money in section 16 is to pay back Mr. Scott for money he lent the company.
16. Use of Proceeds
Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.
$ 250000 USD x Estimate
Clarification of Response (if Necessary)
We may replenish line of credit taken out by Charles Scott and we may begin a salary for Charles Scott, but that decision will be made by the Board in the future after the compensation committee has been established.
From the 5/20 10Q:
The Company has advanced funds from an Equity Line of Credit (LOC) secured by the home of Mr. Scott. The LOC allows for draws up to $200,000 through August 2024 with a repayment period through August 2044. Interest is charged at an annual percentage rate of 6.84% and 5.91% as of March 31, 2019 and 2018, respectively. Funds advanced to the Company through the LOC were $200,262 and $200,406 as of March 31, 2019 and December 31, 2018, respectively.
It was the week of July 22nd.
Yeah stand up and be counted!!
That makes two of us. Holding strong and believe the Q will come soon.
I'm sure you can read their NT 10-Q and see what it says.
I'm sure you can do your own DD and figure it out.
SOLI has communicated the reason for the delayed Q:
"due to the acquisition of assets during the quarter and the closing of a convertible note offering. The latter requires analysis of whether the convertible notes contain an imbedded derivative or a beneficial conversion feature."
I agree that we haven't even started yet. Hardly anyone knows SOLI owns Careclix... only a handful of us do.
Yes. I think the "kettle" will reach a boiling point pretty soon and all the longs will be rewarded here.
Excellent Press Release!
Having a new Secretary Treasurer is important but hearing how well the first test results Luxium went is huge.
The company is making great progress and they should close the acquisition in about 3 weeks.
Great find!
I think CareClix is much bigger than most people think.
It seems that almost everyday a new deal being made with CareClix.
Garden Rose has already posted information on the pro forma financials ( see below if you missed it).
Garden Rose Member Level Tuesday, 08/27/19 10:01:06 AM
Re: None 6.000
Post #
25126
of 26523
Based on the foregoing research I've concluded that SOLI did not have to already have filed the Pro Forma stuff, if they are required to file the the Pro Forma, it is w/the filing of the audited financials of (KB) CareClix.
By researching this pro-forma stuff, I think I've made some headway. Last night I figured out that SOLI's acquisition of KB was classified as a business combination.
In business combinations, ASC 805-30-25-5 indicates that acquirers shall recognize the fair value as of the acquisition date as part of the consideration transferred. Changes in the fair value for contingent liabilities will be recognized in earnings until the contingency is settled."
TAKE NOTE THAT THE ACQUISITION HAS TO BE RECOGNIZED AS FAIR VALUE
The above quote is in last paragraph:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150771784
Now.......here is the jackpot for SOLI:
3110.1
NOTE: While the acquisition of an investment to be accounted for under the equity method meets the definition of a business for purposes of S-X 3-05 financial statements and S-X Article 11, full pro forma financial information prepared under Article 11 generally is not required if the registrant elects the fair value option for the investment under SFAS 159 [ASC 825]. In this situation, we expect registrants to include a narrative discussion explaining how the application of SFAS 159 [ASC 825] for this investment will impact the results of operations and balance sheet in future periods.
3110.4 Pro forma information required by S-X Article 11 should be filed at the same time the audited financial statements of the acquired business are filed. Presentation of the acquiree’s financial statements without accompanying pro forma information can be misleading, and there is an expectation that the information required by Item 9.01 of Form 8-K will be filed as promptly as feasible. The pro forma information presented in connection with a Form 8-K reporting consummation of an acquisition is not expected to reflect definitive conclusions regarding allocation of the purchase price or other effects. However, uncertainties affecting the pro forma presentation and the possible consequences when they are resolved, if material, should be highlighted.
www.sec.gov/corpfin/cf-manual/topic-3
So you are assuming that SOLI doesn't have financials on CareClix just because they are working on their Q?
And that leads you to say "They don't know what they now supposedly own?"?
You are making a lot of assumptions.
Yes DTGoody great day. More great days to come as we wait for the Q.
Who said "They don't know what they now supposedly own?"?
What inside knowledge are you talking about?
I am looking forward to it being posted and all the gems contained in it.