Sunday, November 08, 2015 6:57:46 AM
Great progressive meeting with out accountant and new woking relationship with our SEC reporting services company. GNGR had a choice to either choose the OTC DNS service for a cost of about $5000 annually which allows GNGR to submit our financials ourself or have an SEC reporting company submit the financials to the SEC’s Edgar system for far less cost per submission (each quarter). GNGR has opted to be an SEC reporting company and use these services for the two obvious reasons, 1) GNGR wants the SEC and our investment community to know we are taking the steps to show we are posting accurate information to the SEC before our investors and 2) the reduced cost compared to the OTC DNS services.
As I have stated in past posts, GNGR does not make any products any more. No brains, no chocolate, no soap, no castings, nothing. GNGR will be receiving licensing and possibly royalty fees from the current licensees and future licensees GNGR obtains.
GNGR will have no rent, no overhead other than the cost to keep current on the OTC which now looks to be less than $3000 annually (including legal and accounting fees) and move to the OTCQB (when we move forward further) GNGR has no need for Liability insurance or even a utility. GNGR may incur a cell phone expense of about $35 per month.
Grant
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