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Factoring Activity is an interest expense in the financials. It is expensive and only used by firms needing cash for operations; thus a financing charge.
It does show the need for conventional financing. This financing charge of 55% ($9.5/$21) to cover some operational expenses cannot continue. This along with the convertibles is probably why auditors cannot deem them as a going concern.
Yea, 23 newsletters are pumping this thing. It is on pumps and dumps for the 9th time. GLTA
I totally disagree with you. (2A) "What this disclosure tells us is that (i) SCRC records revenues when orders are shipped".... Receiving an approved ORDER does not qualify for revenue recognition. SHIPMENT only qualifies for revenue recognition.
This is why companies have an Order Backlog.
What this self-proclaimed ceo is doing is comparing prior month revenue growth to May/June ORDERS.
Never a straight pr from this guy. He must need more cash.
They are NOT revenues; they are "orders."
Revenue is never booked on the "accrual basis:" Revenue is recognized when shipped. Crazy statement.
They have way too much debt; mostly a sub-contractor.
The "new compounding pharmacy segment" requires analysis....First, they must carry the receivables (up to $482K vs $0 in the latest filing.) SCRC is responsible for this financing.
Now I know how they needed more money/dilution in their latest stock issue.
Please explain if I am wrong.
For your own DD, I think your visit is great.
We have seen the pump and dump from a group. (Disclosure 25000 shares @ $08) I have no problem.
We all know they have a material weakness in accounting, financial management, purchase of a shell and reporting three legal entities.
We all know that specialized (FDA Approved) drugs can work for individuals/pharmacies.
We all know that is an opportunity. (For at least 2 years.)
We all know that many private companies are doing it.
We Do Not know the financials aspects of this particular private company turned public.
We are Not able to look at the Financials Of Private Firms as they may exist.
HEY,,,,I love to fuxk around with these pinks
GLTA
Well this June 4th pr has become pretty much meaningless. "As previously disclosed, the Company has not yet completed its financial statements for the quarter ended March 31, 2014 due to the increased workload from the complex accounting related to its recent reverse merger. "Although, the 10-Q continues to be delayed, we are working diligently to complete this process and are engaging additional accounting personnel to finalize the required documents in order to regain compliance," O'Brien stated."
I would not waste my time calling the self-proclaimed ceo; his actions speak louder than his words.
I always think it is funny when these self-proclaimed ceo's get into toxic financing and then blame the financier. It is nobodys fault but BOB's.
Well these guys are in way over their heads when it comes to SEC Filings, accounting, transparency, etc.
Thank you for explaining that.
Their pr said on or before June 14, 2014. We are not there yet.
From your prior posts what you might ask would be of no value to this board.
Praxsyn cannot tell individuals anything; must be a pr. I do not know why people cannot get this thru their thick skulls.
It would be much better to get the Filing done and then May Sales is a further confirmation on the volume of business.
This is why Praxsyn had to bring in a "team" for the AUDITED filing.
Dan probably should have kept his mouth shut. He is out of the picture anyway. Ol Dan knows nothing much about Mesa/PDU. He was always a pumper for a failed pet co.
I agree, I feel we stepped into a great opportunity; possibly log-term. Most compounding companies are private companies and Praxsyn seems to be stepping out of the bunch. We soon will see.
I guess ol dscr sucked more novices in.
Praxsyn is a Private Company going Public for the first time. A complete history of this private company must be reported in the SEC Filing and approved by Auditors.
This is not some penny stock talking about "agreements," "partnerships," "LOI's" which are pretty much meaningless in themselves.
I feel that Praxsyn is moving very fast on all fronts.
I think their exit would be covered in the RM. They received a very health 60M shares.
Per the 8K Dan/Allysa will remain members of the board until replacements are duly elected and qualified. Yes they will remain until q1 is complete. I think the debt was resolved with the sale of Pet Airways. However they are no longer decisionmakers.
Paws was out of the picture on March 26, 2014 when Pet Airways was sold to Watermark Co. There was no reason to retain Dan/Alysa. I believe it was planned this way. Praxsyn just wanted the shell.
Tjas is a pink sheet brokerage....never heard of them.....trades under ticker wtec.....stock never has volume
Oh come on, this thing played out long ago.
Oink oink...everyone on the pig train heading for triple 0's. Hell, these guys have not done a SEC filing since 2007. Another mj wannabe come out of the woodwork.
Is this diluted pig still trading. More fluffy pr's needed.
Actualy since the promo began scrc is up 15.7%. It's right there in black and white.
Scrc is on its 14th promo day for the 6th time per Pumps and Dumps.
Search tejs and read various articles.
See post 7524.
Tejas Securities Group, Inc. is a wholly owned subsidiary of Westec Capital Corp (OTCPK:wtec) TEJS changed their symbol to WTEC.
So it seems we have a pink sheet brokerage outfit trying to dictate the pps of paws. Not sure what that means but seems to be the case.
You are probably right, only a temp in place now.
Like I said; it is in the 8k. Why publish it twice. DUH
Well not reading an 8K is a penny stock mentality. Those that want it wild and wooly should sell. There are plenty of pennies out there.
They did put out news per the SEC filing. I am happy they are not putting out needless pr's. This management seems to be acting like the management of a real company.