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Wednesday, September 03, 2014 4:24:20 PM
Where you getting your facts? From "PR"??
Latest filed 10-Q, PAGE 4:
$92K CASH left on hand, end of qtr. What's just Tomas' and Comella's combined monthly base salaries? Pretty close to eating up most of that cash left on hand. 500K/12 = $41K and $250K/12 = $21K. That's $62K a month needed just to pay the two "base" salaries for TWO PEOPLE- and their entire company bank account finished the qtr with $92K cash left in it. How's that gonna work long term?
Here's from their SEC filing- the legally binding one: Latest 10-Q, PAGE 11
"NOTE 2 – GOING CONCERN MATTERS
The accompanying unaudited condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying unaudited condensed financial statements, during six months ended June 30, 2014, the Company incurred an operating loss of $1,078,971 and used $507,059 in cash for operating activities. As of June 30, 2014, the Company had a working capital deficit (current liabilities in excess of current assets) of approximately $9.6 million. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.
The Company’s existence is dependent upon management’s ability to develop profitable operations and to obtain additional funding sources. There can be no assurance that the Company’s financing efforts will result in profitable operations or the resolution of the Company’s liquidity problems. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern."
PAGE 5: NET LOSS FROM OPERATIONS:
"Six months ended June 30,"
2013: (1,123,232)
2014: (1,078,971)
That's a whopping difference of about $46K difference in their LOSS from operations, yr over yr- so what, whatever the "PR" says. 10-Q is the reality IMO.
The last PR didn't tell any " significantly different story!". It just told a "story", that's all IMO. Your statements are not backed by anything except who knows what...
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