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seriously! that is impressive
I know too! They began talking about audits a year ago. Covid is one thing but this tweet makes it sound like audit is on the back burner. That is not good.
A year ago I could have told them this was going to cost $200k to do. Why do they say it’s cost prohibitive today? No shit it’s expensive. WTF
when was this tweet?
From March 31 2019 to March 31 2020 assets increased 130million and liabilities increased 50million. What did the stock price do? 0.014 then to 0.014 today. I don’t know what the market value was then but 7m = opportunity.
I’d definitely say we are undervalued. It is clear the market is not satisfied without an audit. More time to load. If the financial statements are fair and accurate as stated and an audit opinion confirms that. This will blow up fast! It’s all right there on the balance sheet.
You make money by buying today not by waiting for the audit. Risk = Reward.
Small Risk and Big Reward here.
Market currently values assets - goodwill - long-term debt
with pleasure!
If you are complaining about goodwill on the balance sheet then you should know:
Goodwill represents amounts paid or promised for a business in excess of underlying assets. They are the intangibles of a business that represent value. If you think they are overstated then you believe management is overpaying for companies it is acquiring and your issue is with the management of the company and therefore should not invest or waste any time here. If you think this Goodwill amount is smoke and mirrors then take a look at the liabilities because that’s where the smoke and mirrors are. Balance Sheet = Balance. Goodwill up cash down or liabilities up. Since these acquisitions are paid for with debt then we focus there. what the hell is there to complain about? you have faith in axxa management or you don’t. but you have to quit the nonsense filling up the board.
you cannot prove goodwill exists. if it’s on the balance sheet it was money/debt paid/assigned in excess of underlying assets. you can only test for impairment. and even in an audit, management performs this analysis and the auditor tests the assumptions. we’ve been over this. stop spreading misinformation.
solid 1500% growth in value.
when TLNUF became AXXA in April 2018 the share price was about 0.0006. Today we are solid at 0.009.
What is there to complain about?
3 years???? Our shares became AXXA in April 2018. It is August 2020.
2020 - 2018 = 2 years. That is 2 years and 4 months.
Maybe investing is not for you. All along they have said they are creating value for long-term shareholders not impatient flippers. So you invested in the wrong asset given your needs! Not like it wasn’t right in your face. AXXA continuing with the same plan all along the 2 years and 4 months they’ve been communicating with us. Not sure who you were listening to before that.
Sometimes a specialist is found to be needed in the middle of an audit. this could be due to any number of reasons and it may just be that all other possibilities were exhausted and the work necessary is beyond the capabilities of the client to satisfy auditors. I have to say with all of the acquisitions in the year under audit and exxe having never before been audited, this was an enormous undertaking. and i can’t wait to see the result.
Any chance you mis-remembered? Exxe never said when the audits would be done. only that they would be of the 2019-2020 fiscal year ending March 31.
They once said that they would provide updates about the audit in march but that is the extent of promises within a timeframe relating in amy way to audit.
If one was to say they’ve been working on audits for 1.5 years. that would be misleading. The year only ended March 31st. Plenty of work could have been done prior to March 31 but so much still needed to be done after March 31 when the fiscal year ended.
Exactly
First time audits are very difficult!
Every company had its first audit one day. Audit Standards are a lot more complex than they were just 20 years ago. If the audit had already been done this would not be the opportunity it is.
Why don’t you see that? Waiting until the audit report is released before investing is literally waiting to spend more money on shares for fear of losing a little bit of money.
But that wouldn’t be true either. Would it? Because they don’t know yet if audits will be done. Always wait until the last minute to ask for an extension.
THE END OF THE YEAR WAS MARCH 31ST. This is positive because it’s an odd year end meaning auditors should have availability.
As an auditor, there were times when we dictated the schedule based on our availability. So yes, there is no excuse the audits should be done in time. But there is a very convoluted schedule of things that need to go right. A good audit firm handles it in non-covid times. I cannot speak for the auditor or the company and the factors that may arise in a covid world.
I can say that given how many acquisitions there are all over the world, the audit company is likely outsourcing work to keep costs low for the client. This is added complication in an already complicated covid world. I expect the audit report to not be done on time. It is naturally the EXXE way and it makes sense to me given the facts. Hang Tight - I have full faith it will be done for what that’s worth.
Audits take a few months to get done depending on complexity and urgency. the end of the year was March 31st and its covid. i’ve been involved in a hundred financial statement audits and nothing at all seems strange about the length of time thus far. I’ve had them last 1 month for a well prepared repeat client with a lot of urgency and i’ve had them take a year for an unprepared first time client.
https://sec.report/Document/0001213900-20-017884/#ea124306-1aa1_exxegroupinc.htm
audits? who do you think works on the audit? who’s time do you think it requires? how much time do you think boris would spend on the audit? or the ceo and cfo? who is doing the work? hmmmmm.... i wonder if the audit is performed by another independent company maybe? and if the work is performed by another company then why isn’t management at Exxe sitting on their thumbs hoping the audits get done on time to satisfy haters? That’s right, because Exxe doesn’t care about the haters, they care about the long-term shareholders and don’t want to waste any opportunity to add value to the portfolio. That’s right!
What the hell kind of logic is that? If the main guy of a company gets sick in the middle of an acquisition, the acquisition gets delayed.
I can see it now. Hey Boss, glad you’re feeling better. By the way while you were in the hospital we sold the company.
Don’t be ridiculous
What did I miss?
I wouldn’t make that bet. I already said I expect the audited financials to be released 2-5 days late. That’s just the company’s style and I’m cool with that. I’ll be buying that dip.
There hasn’t even been a problem. They promised them at the end of last fiscal year all along? That was March 31st!!!
What is wrong with these people??!?!
What auditing problems?
In Random Walk, I remember a quote that said, “don’t risk more than will allow you to sleep at night.”
Don’t count AXXA out, they always follow through - this is a huge undertaking. An audit of this size could cost over $100k and require months of work.
The only other time they increased shares was to settle convertible notes. are you sure this didn’t happen for the same reason?
The cash flow statement indicates that operations are providing cash. The losses you see are from financing and growth. That is what I see. Income statement is accrual basis and therefore has non-cash transactions. Since you believe they need cash, the cash flow statement has useful information for us. Overall they are cash flow positive. all of the financing effects seem to cancel out. I really think we’re in for a treat here.
yeah but that is a dumb thing to say because it’s just as easy to not show a profit with debt. right? since you’ve run three businesses you should know it’s actually very difficult to EARN profit (nobody just shows it, it is earned) whether or not you have debt.
You say they are hemorrhaging money then why do their financials as of 12/31 show profit for the three months ending? A look at their cash flow statement shows that cash is being provided by operations and being used for investment (growth). The facts you accumulated to support your doom speak don’t exactly lead to that conclusion.
Do you even know what you’re talking about? How is it easier to show profit if you have debt? it’s not. growth is very costly. a need for debt could indicate business growth which creates a cash flow problem and a need for outside money. and it would be impossible to get a loan if they didn’t have assets to collateralize so obviously someone with money to lend the company thinks the assets are real and there is sufficient value for a debtor to take a position.
where do you get the $135k per month number?
That was March 2018 man. we were still TLNUF then.
Damn that’s hella far back!
Perhaps you don’t understand how an audit works, who performs the work and who is involved. Your point on the reg. a is noted but I will say there are forms that you file with the government that take 3 months or more to process at normal rates and now we’re in covid where everything is slower. Exxe Group has always followed through, eventually.
These are pink sheets. Everything here is super risky. Exxe appears to be more formidable. It appears to be a great deal because of the opportunity which correlates to stock price which correlates to pink sheet. Whichever determines the other does not matter. If the stock price was higher it wouldn’t be the opportunity it is, it would automatically imply less risk = less reward. Amazon is a good investment, you dig? So screaming there is no audit is dumb because if there was an audit, the price of the stock would automatically be higher if the audit confirmed Exxe’s self-report unaudited financial statements with an unqualified opinion. Your statements are nonsense for these reasons.
Dude there’s still time to delete this post. Goldman Small Cap Research is not Goldman Sachs
please read their disclaimer about that right here: https://www.goldmanresearch.com/disclaimer.html
“Goldman Small Cap Research is not affiliated in any way with Goldman Sachs & Co.”
BigD going to be here the day the audit is released all happy and jubilant talking about retirement and yacht shopping.
it’s all just for fun
not all i disagree with are stupid
it’s okay, get rid of the stupid people we’ll be happy they’re gone when this gets going
Boris is back to his old ways. This better be an audit.
Manipulate much?
wagyu
exactly i love that pr. been waiting for this