ANSWERS TO RUMORS. ANSWERS TO RUMORS on 7/28.
QASP finalized the acquisition of the marijuana hydro grow supply
store in Colorado Springs, CO.
On 7/28, QASP was posting its closing documents on the OTC market
for people to view. There were many rumors to dis-credit QASP right after that. The purposes of my post is to answer the vicious
rumors.
Let's take a look:
The closing documents has many items:
A) Closing memorandum. B)Bill of Sale C)Exhibit A
D)Statement of Settlement (The purchaser's-or QASP's-Statement of
Settlement) E) Covenant not to compete F) and other items
RUMORS #1: "They haven't bought the store yet. It's not paid for"
RUMORS #2: GREEN EI still owes over $76k.
ANSWERS: QASP already BOUGHT the store and paid for.
Explain: D) above is the purchaser's Statement of Settlement (S of S)
The seller signed HIS OWN S of S (The purchaser-
QASP- didn't see HIS and the seller didn't see QASP's S of S either.
THIS IS the rule of escrow. Seller/purchaser mind their own business.).
CONCLUSION: The seller GOT what he wanted (he also got the $76,314.72 ON HIS S of S- which was listed on QASP's S of S )
and therefore, he signed the A), the B) and he signed other items
to close escrow on 7/16/2014.
RUMORS #3: "GEI came up with $100K somewhere (probably a convertible note) ".
Answer: This rumor is INVALID by itself because it is followed
by the word "Probably".
RUMORS # 4: "The seller financed $75K" is BAD !!!!
ANSWER: The seller financed $75K, THIS IS GOOD
because the seller KNOWS that HIS hydro grow store HAS BEEN MAKING
MONEY and QASP can use the profit from this store to pay for the
debt. (Seller financing is a sure way to know that the store that
QASP bought is a GOOD, PROFITABLE store).
RUMORS #5, #6: "There is no mention of any liabilities against the store other than the lease, but it does state that the seller keeps all accounts receivable."
ANSWERS: The "Bill of Sale" (B of S) mentioned about the EXHIBIT A
(is what QASP was buying). Accounts receivable does not belong to the sale because it happened ON or BEFORE the closing
date 7/16/2014.
NOTE: QASP CEO Donnell says: She BUYS the store,
she didn't say that she ROBS the store.
So, the seller kept the accounts receivable is the NORMAL business
way. This is NOT AN ACTION of liabilities against the store that
QASP (GEI's) owns.
RUMORS #7: "Looks like QASP just bought a bunch more of debt
to pass on to shareholders".
ANSWER: More debt, but QASP shareholders OWN MORE THAN the debt
of $75K, QASP owns the mj hydro grow supply store.
Let's see: The store $250K - $75K= $175K. (So, QASP shareholders gains $175K).
HOW much is the store worth now(opens 7 days/week, more services to mj growers, mj dispensaries)and after the e-commerce website
is built ? Answer: New revenue= $1,357,582./yr
@39% profit margin, QASP's store NEW profit = $529,456.98/yr.
(SO,QASP shareholders GAIN MORE than $175K, for sure !
Let's calculate: ($529,456/yr)x(10 years)=$5,294,560. with e-commerce website, opens 7 days (was 6 days/wk), add more services to marijuana growers, mj dispensaries (installation, repairs marijuana hydroponics products).
CALCULATE: $5,294,560.- $75K (debt)= GAIN =$5,219,560.
CONCLUSION: QASP shareholders gain $5,219,560. HAPPY, HAPPY !!!!
RUMOR #8: "Now QASP has another lease they can't pay"
ANSWER: With a profit of $529,456.98/year, QASP doesn't have any problem to pay its rent.
Even with rev=$557,582./yr (As is), QASP doesn't have any problem to pay its rent, either.
What do QASP shareholders get ? QASP IS PROFITABLE (opens 7 days/week, add more services to mj growers/dispensaries, new
e-commerce website), QASP shareholders gain MORE and QASP stock
will go up to above $0.012 (IT WILL GET THERE) and will go up
higher and higher because this is the beginning of end of
marijuana prohibition and this is the beginning of the QASP bright future.
Disclosure: I'm long, long, long QASP and holding QASP to the
next presidential election in 11/2016.
I don't flip. I INVEST in QASP. QASP is an investment.
(Please click on the "legalizeMJ" post to read QASP revenue).
AI
