Green Parts International Inc (fka GNPT)

[Shepo69]

And to answer your question.

"why does Asif issue a press release stating he is profitable when they have $1M in ACCOUNTS PAYABLE and owe FEDERAL TAXES!"

Why would he not announce it.??

Its a very positive result for the Q and shows the company is turning things around. I don't get you some times.
sometimes you bring up valid points and you seem intelligent like you know whats going on.. but then you make a post like the one you just did. and its complete negative BS and completely full of nonsense.

For example You say:
They have $2,000.00 IN CASH to pay millions of dollars IN CURRENT LIABILITIES.
Really?? cash changes day to day. That is what he had on the day he did the Q. he also has 700K out there that will be coming in addition to hopefully continued profitable Q's That is what he will use to pay off the debt. That's how it works.

Here it is in simple accounting 101 terms..

Past: Negative cash flow, expenses were more then income, to survive, need to borrow cash to keep things going and weather the storm ( low steal prices ect.) accumulated dept due to negative cash flow.

Current: Made changes to organization. Now cash flow positive. Will use positive cash flow plus accounts receivable to pay off the debt over time.

Simple..
IMOH