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Alias Born | 11/08/2011 |
Tuesday, January 13, 2015 10:53:57 AM
At the end of the day as you and others have pointed out, it was never about the doll sales, but rather the selling of the stock. Clearly from the multi-million dollar hole the company has dug for itself, that gravy train is over - there is no conceivable way the company can ever sell enough dolls, while simultaneously funding ongoing operations and the bloated overhead that they have become addicted to. The numbers simply do not support it, no matter how much PR and sub-penny temporary price swings that they induce.
Regarding feeding the ongoing need for cash, it is perplexing to me that the company would have defaulted on the two relatively small loans while simultaneously receiving the big infusion of cash from a new lender in October: http://finance.yahoo.com/news/one-world-doll-project-announces-130311461.html ??? Reading thru the complaints filed in the lawsuits, Ms. Melton was willing to settle the debt at a pretty good discount to what was owed and in fact signed a settlement agreement, only to default on that a few days later. Why would the company do that when their publically stated goal was to pay off toxic loans before they were converted? By defaulting, they basically scare off any new funding, which will inevitably be needed to fund the ongoing operations and aspirations to grow sales. A real head scratcher to me....meanwhile, break out the popcorn as we are headed back to last week's numbers ($0.0012)...
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