Knife, thanks much for your projections. If I may, I'd like to "stand on your shoulders," i.e. build upon what you wrote.
1. To me, the most fascinating piece of the Fiscal Q4 reporting, and by extension the annual reporting, will be how the company will be reporting the "gain" on the conversion of the Gotama debt, as the conversion price was 15 cents per share at a time when the stock was selling around 4 cents per share. There was about $580,000 of debt-principal involved, or about 4 million shares including interest accrual (if I'm remembering anywhere near correctly). And so, we're talking here about more than 400K which could be either run through the bottom line as a one-time gain or just become part of "additional paid-in capital." This may be the discussion with the auditors that's holding up release of the financials.
2. The second most fascinating piece of the annual reporting puzzle will be how the "going concern" footnote will be worded. All of us are pretty much aware that just about all fledgling companies get this footnote, but the wording differences can be significant (running the range from the company needs more money to survive and only God knows where it's coming from, to, if the company continues to grow it will require more capital, and a number of sources are being explored). This item, like the first one, could be what's holding up release of the annual reporting.
3. Another footnote item will be the disclosures of transactions between the company and its officers. We read about the lease for office/warehouse space recently, and I wonder if there will be a footnote indicating that the monthly lease is comparable to what the company could have obtained on the open market.
4. Finally, I'll chime in with an opinion about the Q4 gross revenues. I would have viewed $1.8 million as impressive, but somewhere in the company correspondence or press releases, the projection was made of $6 million for the fiscal year - and here we are at $5.3 million. Is that close enough to make the investor community happy? Perhaps it is, if one annualizes based upon $1.8 million in Q4 and takes note of all the specialty equipment (rhodium, platinum, pick a metal) that is sold the moment it becomes available.
Overall, what's most amusing is that both the folks who were looking for six cents per share and the folks who were looking for two cents per share recently got what they were looking for, almost within hours of each other. It may be that exceptional volatility of the stock which is scaring potential investors away (one could get really suspicious about how the market-makers do their job).
Again, Knife, thanks for some excellent analytical work here, and I wish you well.
