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Tell the story as you like.
My point is that since the 1000% gains, now back down to pre-spike levels and over the past two years, that has been the story.
Where it is going is irrelevant when stuck in decline.
Until audit, AMFE will very likely not hold a significant gain from one trading session to the next. If everything coming together as the story is being told, then there should be at least some organic growth while share price down here in the gutter.
So, I will restate it as before: From a trader's perspective buy in on an upward swing and let go, AMFE cannot hold a gain.
that's the story here from a trading perspective: catch the small wave upward and let go, it will fall. One thing proven of AMFE stock is that is cannot hold gains.
I would love if that was the plan in play, but more to be done to help actual shareholder confidence would be helpful.
The problem is that by pattern of preceding events, I don't believe outright revenue recognition will be seen for a long time.
I think the main goal of both buyer and seller here is to keep pulling the dangling carrot right as it is nearly grasped.
The transparency of the 8K would have been nice at any time prior to release of numbers...like a simple statement that BizRight revenues still not seen on current quarter, we expect those revenues to be recognized per closing of deals by X date.
Another big question is what of ongoing revenue and collection that BizRight has done in past year? If it is simply a GAAP issue, will those revenues be retroactively recognized? If it is due to ownership, will they be seen upon closing of company purchase? And the 30 million dollar question: DO THESE REVENUES EVEN EXIST IN THE FIRST PLACE?
It is unethical for him to report revenue numbers that were reported and never retracted when it is evident that time for deals to close would preclude revenue recognition for at least a year which is the same year he was forecasting those very same revenue recognition numbers.
That unfortunately is the problem at hand.
Had he stated $70M rev recognition on closing of both deals which may take up to 2 years and require a significant burden on shareholders and share price, then there would be much less negative sentiment at this point.
All the deals are done, but it is all just a verbal intention at this point. Just waiting on final signatures, then the lawyers, then a sign off on ads. After the ads are signed off we will still have to wait for authorization of distribution and finalization of revenue recognition numbers from that verbal deal referenced in the first sentence. The revenue recognition from verbal deal will then need to await final signature, lawyer, ads, and authorization.
Because you know, it is their money, not Steve's
LOL at this bait and switch BS.
From the 8K:
ZERO!
First thought - Pathetic. Same gear up and fluctuation in yogurt business statement can be seen in many previous reports.
There was conspicuously very little said about Sky, Bizright, and Budlife . . . except the section discussion all the shares issued in the last nine months.
This is a pathetic report and absolutely requires a letter of explanation.
I don't know about the rest of this board, but I am getting very tired of hearing about GAAP issues being the problem of revenue recognition.
Ads were to hit 3 days ago.
Where are they?
Maybe a youtube link if they are truly out there.
So you've proven scam detection, do you have any stats on winners?
Where dem ads at?
yo, yo, yo yo, where dem ads at?
My reply is that there is nothing of any public knowledge that would contribute to revenues. It is not a dodge, but simple logic that if revenue exists, then there should be a channel by which the revenue can be verified.
Also, while circumstantial and coincidental, the misdirection regarding information of the issues I have noted creates a pattern of dishonesty, which can be extrapolated further to imply poor confidence in financial reporting.
Can you provide evidence of Pharrell, PL ads, or any documented partnership that would yield revenue such as reported CarMax, AutoNation, or other dealerships?
The lack of a paper trail on that end is enough evidence for me.
Evidence it has not been doctored is third party verification. That is accomplished through audit.
SEC filing isn't a verification of financials. They are posted as information available to investors for risk/reward analysis and with forward looking statement scapegoat clause.
OTC filings are what they are - a marketing ploy and strategy to keep a security in public trading. Attorney letter only states filings have been done according to information available to attorney. It is not an audit or verification of the information contained in report.
Thus, evidence has not been presented by third party verification that filings of revenues and financial status are true.
using the phrase FAKE NEWS lowers one's credibility.
if they bassed in size, that would be cool too!
It is a GREAT IDEA.
You are correct that it may not help.
But I firmly disagree that it is a bad idea.
No no no, as shareholders we are AMFE. If it is AMFE's responsibility, then it is our responsibility.
Also companies like some sense of importance. The old saying that even bad press is still press brings attention to the existence of the company, perhaps opening channels of future revenue. I believe they would welcome the attention.
I'll re-read it when we have a deal with them.
The financials are, and have been, doctored. He remains unwilling even to speak of audit even though the false reasoning for previous inability to complete has been removed. What is your response to that?
Also, AR does not seem to convert one quarter to the next. Which begs the question is ONCI is even actually collecting this receivable revenue?
My guess is that any inventory that is produced is shipped to a PO box "warehouse" for so-called clients and that inventory being out of initial production warehouse is then listed as receivable. Honestly it's a quite elegant solution for a company that can't actually make headway with what should be a game changing technology.
Latest tweets give no proof of anything.
As to the GEICO tweet, why would you publicly slam the business decision making of a potential client?
What if AMFE shareholders collectively blasted RBSM daily, even hourly to apply a sense of urgency to completion of Audit.
If enough pressure applied to their daily operations resources, maybe we as shareholders could do more to get the audit situation behind us.
http://www.rbsmllp.com/contact-us.php
Jam their email, phone lines, and fax lines - perhaps that could allow them to know the importance of keeping this client.
Will this stock ever stop being a shitty investment?
He obviously can't tell you. Since he is under NDA and revs are the money of clients and they don't want to be bothered by his shareholders.
Can you promise to never reverse split, too, even when your share price falls below it's levels prior to your acquisition?
But, what if those thoughts are correct?
Honestly, more legitimate evidence would have surfaced by now if any of this is actually true.
can't ungag the TA, we could become aware of massive dilution and forged share structure.
He's like the abusive narcissistic alcoholic husband that always promises to change.
It will never happen again... (RS)
Next time will be different... (PL)
This really is something new... ("hopefully")
It is all the desperate plea of a misleading scoundrel.
No one is adding fuel to a fire, this is a sinking ship. That is what's happening. All analytics are worthless with only the event of a true and verified deal with a legit company, verified by the partnering company, being the event that might possibly trigger a reversal and upswing.
The only one adding fuel to the fire is the misleading CEO.
likely something that won't materialize.
but it'll be good rumors along the way.
Cool. it made it back to the shitty open that was already in trips. It really hasn't done anything all that incredible today.
My reference of chart checking is the steady decline since late 2017 when price was over a penny. Give justification for that chart please.
LMAO
That is a very laughable hypothesis.
There is no news.
Except maybe RS when it reaches .0002
Dude, reality check. PPS tanked. Chart is only accomplishment that matters.
It is all words until we see results.
Today's news is a step in the right direction, but I'll still need to see it come to fruition to believe execution has improved.
So essentially he is re-issuing the so-called retired shares. Brilliant.
I honestly wish I had access to such a network of scams like he does.
I am uncertain of the intelligible message you are trying to convey.
If I can clarify for you, my prediction is based on trend, experience, and past performance. In addition, extrapolation of previous time frames and completion rates puts it on course for a late report. It is very simple to see. That's the DD most relevant. Has company execution changed or shown evidence of improving? Currently, not so much.
It is real easy to assume it will be late. In fact I did just that in my last post. Totally possible and accomplished.
I believe it will be late due to the fact that when the previous 2 year audits were completed, auditors then had proper numbers to complete FY 2018. They are currently operating on a timeline that can only be described as wholly effing unreasonable. That said, the advice given Roger to not release numbers until audited means FY 2019 will likely be delayed if the timeframe of the incompetent RBSM for FY 2018 is any indication. Now into the eighth month of trying to complete audit since completion and release of previous 2 gives me reason to believe a minimum of three months delay will be likely for next year's number release.
This is probably the only thing I truly believe with certainty of this company at this point.