Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
good morning at all.
hot NEWS on the way.
Buy BHWF so much you can, or it is too late.
Strong Buy
now we going up again.
never !!!!
mm game , nothing more.
end of the year 0,10 $ !!!
hey hey news on the way !
EOD over 0,0032 $
baby go
level 2 Orderbook please
great posting !!!!
green week for mmte.
strong buy
when we hit the 60 Cent ?????
next week, we can see some moves. pps moved up, my opinion.
REVERSE MERGER WITH the next two Companys.
We don´t need a RS.
yes in deed.
we see a penny this year.mmte a new oil giant.
level 2 please.
mick we are on the right boat :laugh:
yes mick, you are right.
i think the same.
one good news and pps go up.
i am in and i wait.
this shell goes up and we see 0,001 $$
sounds good.
"Should we be unable to continue in operation, we will be forced to sell our business, seek a reverse merger or file for protection under the federal bankruptcy laws."
REVERSE MERGER !!!!!!!!!!!!!!!!!!!!!!!!!
Form 10-Q for DEALERADVANCE, INC.
19-Aug-2008
Quarterly Report
ITEM 2. MANAGEMENTS' DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Plan of Operation for 2008
Our operating activities have not yet generated a positive cash flow. We do not expect that they will generate a positive cash flow by the end of 2008 because our expenses far exceed sales. We will require financing in excess of $1,200,000 from external sources during the remainder of 2008 in order to be able to continue in operation as a going concern and we would like to obtain additional financing for a proposed acquisition of a software company to complement our operations. There can be no assurance that we can attract financing in order to fulfill our requirements.
In 2004, we entered into an agreement that has to date provided $9,904,807 from the sale of convertible notes to an investment group. The proceeds were used to develop our previous product, our new web-based software, and as working capital for operating expenses and accounts payable. We do not expect the investment group to provide additional financing. As of the date hereof, the investment group has converted to stock $126,808 of the notes. The balance due on the remaining convertible notes is $9,779,528.
We believe without assurance that the investment group will attempt to convert the new convertible notes to stock. However, the rate of conversion has slowed as a result of the decrease in our stock price, to which the rate of conversion is tied. It does not appear likely that all the new convertible notes will be converted when they become due, and we will be required to pay a significant portion of the then remaining indebtedness or to refinance it.
In the second half of 2006, we relocated to our present officers and new executive, financial and sales management was installed. We redirected our development and marketing efforts to our new web-based application software for conventional desktop and laptop computers and, beginning in March 2007, to Ultra Mobile Personal Computers. For that purpose, we added a Chief Information Officer, a development and technical support staff, and a marketing and sales staff. That increased our selling, general and administrative expenses. Notwithstanding these changes, there has been a decline in sales, and Web DA™ has not yet achieved broad market acceptance, although we expect that it will in 2008-9. We believe, without assurance, that we are gaining position with the appropriate product, marketing network and approach, management, and other personnel to attain a niche in the CRM software market for auto dealers. However, sales have been negligible compared with expenses. New sales agreements from this year have not produced significant revenue, and publicly-announced estimates of anticipated revenues from these agreements will not be achieved in 2008. Given our vulnerable financial condition, there can be no assurance that during this turnaround we can retain our key personnel, implement our business plan and become profitable.
Our plan of operation for the remainder of fiscal 2008 is as follows:
To increase sales of Web DA™, in part by supplementing our internal sales force with outside distribution arrangements;
To complete development of Web DA™ 1.5 for release;
To acquire other complimentary software companies; and,
To obtain additional debt and equity financing to fund our working capital deficiency.
To date our operations have not been self-sustaining. Additional liquidity and capital resources will be necessary to defray our ongoing expenses that have risen significantly, while revenue decreased in 2007 and for the year to date. In the event we are unable to refinance our indebtedness, obtain additional liquidity through the sale of additional convertible notes or stock, and, ultimately, to repay, refinance or restructure our indebtedness, we may be unable to continue in operation as a going concern. Should we be unable to continue in operation, we will be forced to sell our business, seek a reverse merger or file for protection under the federal bankruptcy laws.
Our independent registered public accounting firm issued a report to the effect that certain conditions raise substantial doubt about our ability to continue as a going concern because we incurred recurring losses and had substantial working capital and stockholder's deficits and negative cash flow from operations. We continue to have net losses. Should we be unable to implement our plan of operation, our expansion plans may be curtailed, and we may not be able to continue in operation.
Financial condition at June 30, 2008 and December 31, 2007
The consolidated balance sheets raise concerns about our solvency. Stockholders' deficit increased to $19,411,137 from $16,950,266. We had a large increase in working capital deficiency, $12,210,247 as of June 30, 2008 compared with $12,152,857 at year-end 2007. Most of the increase in working capital deficiency results from the reclassification as current liabilities of $1,053,988 in convertible debt that is nearing its due date, and a $506,855 increase in interest payable. Principal sources of liquidity in 2008 included $880,000 from the sale of convertible notes to an investor group and the issuance of $321,185 in company common shares for compensation and services. The current shortage of liquidity severely hampers our ability to pay our debts as they become due and may have an undermining effect on our continued operations.
Results of operation - six months ending June 30, 2008 and 2007
Loss from operations increased to $2,889,225 from $2,078,553 as a result of decreased revenue and increases in general and administrative expenses. Revenue decreased to $65,335 from $128,097. The expiration of contracts for our old non-web based product accounted for most of the decrease. Selling, general and administrative expenses increased to $1,273,038 from $1,037,888. We incurred no research and development expense in 2008, this expense was $67,690 in 2007.
Interest expense increased to $522,764 from $447,612. Interest expense resulted mainly from the issuance of additional convertible notes and the conversion of convertible notes. Liquidated damages increased to $1,140,853 from $630,570. Overall net loss increased from $2,078,553 to $2,889,225 as a result of the increases in liquidated damages, interest expense and loss from operations.
beautiful.i hope run we run to fast for many traders !!! lol
perfect, upgap tommorrow !!!!!!!!!!!!!!!!!!!!!!!!!!!!
..IMHO good things are near for MMTE!
and for US !!!!!!!!!
yeah bhwf we are on board.
What is possible ??
Shares price , news ??
maybe 1 Penny, possible a little position of my shares lol
news after tradingday ?
that´s great.
mmte goooo
is this good or bad ?????
mmte make her way.
1 Penny come.
`hey hey think positiv.
BHWF make a big move.
OS reduced, or ??
all is possible, or ?
but a reverse merger is possible too, or ?
Good luck all
level 2 please
this is a mistake.
no news no uptrend
my opinion is mmte to the moon.rofl
fake ??
copy from yahoo board
-----------------------------------------------------------
I sent Investor Relations an email asking about A/S and MMTE's PS status. Here's the response:
-----------------------------
Sir,
The best place to check for authorized shares is pinksheets.com, that is the information I am allowed to give to the investor/potential investor. As for the PS Status on pinksheets, Joe Overcash and myself are diligently working together on completing this task. Hopefully we will have it completed soon. Joe is now in Oklahoma overseeing the mining operations and should be back in the office Monday.
Hope this helps. Thanks for your time.
Best Regards,
Dominic Martinez
M & M IR
Sentiment : Strong Buy
yes we see us tomorrow.
1 $ possible.not tomorrow but in 6 month.
hold strong !!!!! this shares are the big deal for us.
lol, dito laugh we are the same opinion
i am glad that i today my position doubled
a real story, if we see 1 Dollar we could be lucky
the baby falling down, 0,0017 next step 0,0014 oha
we need a bid strong bid !!!
no dilution!!!!
the baby move up later.
my order at 0,0018 with 300 000 shares wait