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I don't have any money here, but I like several of the board regulars around here and hate to see what's happening. I think the writing has been on the wall for a while, but surprises happen.
Yuck, not looking good today. Anybody have level 2 to see how much support at $.0015 if BIEL turns on the spigot in full force today?
Negativity or reality?
I would encourage you to file a complaint with the SEC and note in the complaint that you were unable to receive a response to your questions from company management.
I don't care if you believe me or not, it doesn't make it any less true that the numbers don't add up.
Entertainment, and to see if I can help people avoid what is an obvious, IMO, share-selling scam.
I have never, nor will I ever invest in this company. For clarity let me state that I have never bought, sold, or received a single share of BBDA, nor has anybody that I know.
First, the FDA stated that the evidence suggests that it MIGHT work for pain following breast implant surgery. There were no studies that provided evidence of effectiveness for treatment of edema. The studies for other indications either were inconclusive or showed no statistical significant benefit from PEMF treatment. They are basing their findings on the studies available, which indicate that it may be effective for some uses and not for others. That's what they have to work with based on the studies currently available. Until there are more studies with better methodolgies completed the FDA doesn't have much of a choice but to require specific data for each indication.
Secondly, the way in which drugs and medical devices work are very different. I'm not going to go into great detail, but drugs cannot be targeted at specific areas of the body. Read up on the mechansim of action for NSAIDs and opiates and you'll see that they non-discriminatory and thus work on all parts of the body at once by either blocking enzymes that cause inflamation and pain (NSAIDs) or by decreasing the nervous systems ability to perceive pain (opiates). So taking a drug is going to affect all areas of the body at once, to varying degrees of effectiveness depending on the individual.
There is nothing to indicate that Walgreens ever placed an order for Koma. Read up on the Forgotten Harvest program and you'll see that it's where companies donate food/drinks that are about to expire to the program to be distrubuted for free to people in need. It was simply a way for BW to unload some of the inventory he can't sell and get some PR as well.
Yes, he's spent a large portion of his adult life trying to find ways to get other people to fund his racing hobby without him having to work. BBDA is no different
He keeps reducing the amount of money he has needed to fund operations since last July, so I think unhealthy dilution is over.
Things are looking very good for longs. The measly relaunch in one state has morphed to the entire country. Walmart is slow and methodical, but must like it or the "Golden Child" would be rotten.
Depends on how many reports were filed and how much money was involved. BBDA is a small fish in a big see of penny stock scams.
So it either hasn't been reported (unlikely, since at least 2 here have reported BBDA in the last few months) or the SEC found adequate information from BW when asked, so no need for further action.
If you are a financial planner then you should understand the huge gap between what is shown on the balance sheet and what appears on the income statements. Ask him where all of those millions of dollars have gone and why it wasn't dividended to investors if it wasn't going to be used to fund company growth.
Haven't seen the charter, but the bylaws are included at the end of the annual report:
http://www.otcmarkets.com/financialReportViewer?symbol=BBDA&id=102494
Also interesting to note on the last page:
From April 9th to the present date, no officer, director or grater than 10% stockholder has purchased and securities of Babied Beverage Company to the best of its knowledge.
Might work in a company in which you actually had voting rights, but that's not the case here. The CEO runs the company as he sees fit and couldn't care less what anybody else thinks. If anybody were to accumulate enough shares to actually have some type of power he would simply print more.
Nobody that took accounting 101 would sign off on those statements let alone an actual accountant.
The maximum loan amount is $500,000, and the maximum term is 12 months. The maximum loan amount is calculated as the lesser of: 50% of the borrower's direct and indirect exports in the previous year; 90% of the borrower's net current assets as per their most recent financial statement; or $500,000. The loan amount can be drawn in full or in part at any time during the term of the loan, with a minimum drawing of $10,000. The loan can be renewed annually, but the borrower must again meet the approval criteria at the time of renewal, including the small business requirement.
I didn't say anything about Walmart. I'm asking where all of this revenue is going since it's not being kept in BBDA.
There's no way they are getting $1.88 per can wholesale. Probably $1 or less.
I'd recommend that anybody who has concerns about the accuracy of BBDA's reported financial information file a complaint with the SEC and perhaps the SEC will pressure them to provide the details shareholders' deserve.
http://www.sec.gov/complaint/tipscomplaint.shtml
Is he supposed to anticipate every possible question that non-investors or investors might ask and put them in his fins, when Pink sheets don't require it? For heaven's sakes, asking him before trashing him is common courtesy.
Good for you. Be sure to follow up with them as they should have given you a case number. You did get a case number, didn't you?
I'm not an investor and even if I were it's not my responsibility to ask him. It's HIS responsiblity as the CEO to provide such information to shareholders. I did, however, provide the information to the SEC. I don't expect them to act on it as they get hundreds of such complaints every day, but who knows, maybe they'll force him to provide the information shareholders have a right to receive.
12/31/2011 Total Assets = $844,054.65
3/31/2013 Total Assets = $928,107.05
Net Increase in Assets = $84,052.40
Cash from dilution 1/1/2012 - 3/31/2013 = $506,355.24
= Net Increase(Decrease) in Assets excluding sale of stock = $(422,302.84)
So, if you factor out cash raised via share issuance the company's operations have actually lost over $400K over those 5 quarters, and yet the income statement shows a net gain of $2.3 million over the same period. Where is the money?
I'm glad at least somebody else around here understands how to read financial statements. If their claims of millions in net income are true then somebody owes shareholders an explanation on where those funds were diverted since they aren't being reinvested into BBDA. Millions are unaccounted for.
$2.3 million of net income funnelled out of BBDA in less than a year and a half. Where did all thst money go? If it wasn't being left in the business to fund growth then it should have been dividended to common shareholders. Did you get your share of the missing money?
If the CEO is chatting away with shareholders on Facebook then somebody ask him what he did with the $2.3 million in net income as reported on the financials for the last year and a quarter. It's not still in BBDA apparently.
Other than the fact that BBDA shareholders are footing the bill, what do people on this board care about where the CEO vacations?
Good luck. I'm not as bullish on the demand for the animal products as you, but for investors any sale is a good sale.
Apparently all of them since none of the profits are resulting in increased assets.
@Whip. Can't pm but that was directed at eveybody who might be considering buying shares based on the company's claims of profitability. Millions of dollars of profits have disappeared into thin air. The CEO owes investors an explanation.
If you are investing based on the assumption that the profits are real then you should be wondering where the money is going. All of those items you listed should be on the income statement.
$844,054.65 in Assets as of 12/31/2011
http://www.otcmarkets.com/financialReportViewer?symbol=BBDA&id=102493
$928,107.05 in Assets as of 3/31/2013
http://www.otcmarkets.com/financialReportViewer?symbol=BBDA&id=102494
$2.3 million in Net Income between those two dates. WHERE IS THE MONEY?!
Also, Captilization from Stock isn't an asset. That number should be reflected as an increase in cash and equity.
Again all of that would show up somewhere on the balance sheet as assets. It doesn't simply disappear or at least it shouldn't.
I'm still waiting for somebody to tell me where all of the net income from the last year+ has disappeared to. Anybody?
Would be reflected in expenses. Next. 1.5 million has disappeared.
Both of those wiuld be reflected on the balance sheet.
According to the company's fiancial statements they've book $2.3 MILLION dollars in profit over the last 5 quarters, and yet they show less than $800K of assets on the balance sheet. Ask yourself...if the income statement is accurate then where has all of that money gone?
If the PR is accurate, then this arrangement is different than the one previously entered into with EX-IM. In 2009 it was simply a guaranty and insurance arrangement, whereas this was specifically PR'd as a Line of Credit meaning they would be be receiving direct funding as opposed to guaranties. So, you're right that they have had a relationship with the EX-IM bank for some time, but it appears to have expanded.
I still wonder how much of that $500K is actually available for use, but there's no way to know that unless they disclose it in the financials later.
The Ex-Im bank is a U.S. institution. I'm not sure what you mean by residing in China.
http://www.exim.gov/