MPIX's Quarterly Report was late getting filed but Victor finally got the Quarterly Report filed this morning.
Unfortunately though, Victor's financial results are pretty darn awful.
For starters, MPIX Corporation is reporting total assets worth just $8168 but liabilities of $1,085,155. Imagine that, the total value of all the assets of MPIX is worth just $8168. Perhaps all the value in MPIX is the value of MPIX's office furniture???
And get this, in the 3 months ending June 30th, 2014, Compensation and benefits totaled $163,286. Nice paycheck for doing $0 in business and posting net losses of $1,041,893. Somebody is taking home a sizable amount of money but it's not MPIX's shareholders, thats for sure.
Revenues were $0
Finally, Net Losses for the 1st and 2nd Quarters of 2014 are more than double the Net Losses from the same periods in 2013.
Net Losses for the first 6 months of 2013 were ($ 488,011)
Net Losses for the first 6 months of 2014 were ($1,041,893)
Net losses up more than 100% year over year isn't very pretty.
These financial results tell the story better than anything else.
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