Followers | 170 |
Posts | 8965 |
Boards Moderated | 0 |
Alias Born | 01/24/2011 |
![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, March 31, 2015 11:37:04 AM
The press release tried to give the impression that the annual report was great, but it really wasn't.
The only reason the company has more cash on the balance sheet is because Perlowin loaned about $260K to the company during the fourth quarter, which now owes him $1.2M
The 2014 revenue was mostly shares received from consulting clients, and the company wrote off another $1.7M of the value of those shares in the fourth quarter. What was once valued at over $7M is now claimed to be worth (at the end of 2014) less than $2.5M. Those shares are worth even less now.
I've calculated that the 4Q/14 revenue was about $80K, but there appears to have been no Cost of Goods Sold (Cost of Sales) for that revenue (no increase in COGS from the first nine months of 2014). It's impossible to know if the $80K was sales of hemp products, stock received from Vaporbrands, or simply an accounting adjustment.
The company paid out nearly $4.8M in stock-based compensation, and over $1.5M in consulting fees.
Outstanding shares increased to 2.74B. The increase wasn't as much as I expected, as I thought that Perlowin would convert more of his preferred to Commons and take some repayment of his loans in new preferred K shares, but that didn't happen in Q4.
Finally, on paper, the company lost $905K in FY2014.
"Soylent Green is people!!!"
Detective Robert Thorn: Telling uncomfortable truths since 2022
DRT is Charleton Heston's character in the 1973 movie, Soylent Green, set in the year 2022, and is not my real name
Element79 Gold Corp Appoints Warren Levy to Board of Directors • ELMGF • Aug 28, 2024 9:51 AM
Integrated Ventures Announces Strategic Entry Into Health & Wellness Industry with Focus on GLP-1 Products • INTV • Aug 28, 2024 8:30 AM
ELEMENT79 ANNOUNCES UPLISTING TO OTCQB VENTURE MARKET • ELMGF • Aug 26, 2024 10:03 AM
North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • NBRI • Aug 26, 2024 10:00 AM
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM