Tonner One World Holdings Inc (TONR): 10Q results

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Saturday, 11/21/2015 6:40:54 PM

Saturday, November 21, 2015 6:40:54 PM

10Q results - A few things to consider and to keep in perspective:

2013 to 2014 O/S increased from 21.8 million to 251.3 million - an increase of 229.5 million over 12 months. We are now at 403.1 million, and increase of 151.8 million (9 months only).

The good news is that the company showed $885k in sales for the quarter, of which $861k was one major retailer (Walmart). Putting it another way, the grand total of all other sales to Amazon, Walmart.com, HEB, Fiesta, Dollgenie, Banana Girl, et. al. totaled only $24k, although definitely a bright spot considering the other 6 months of 2015 had grand total of $1572.

The bad news is that the gross margin of $347k for the quarter was quickly eaten up by $683k in G&A, $40k in R&D and depreciation, $692k in interest expense.

Potential convertible debentures still hang over the company to the tune of over 2 Billion shares.

As expected, the Tonner deal of acquiring just shy of 10% of the Company via preferred shares didn't happen. The number of preferred shares remain unchanged from last month. The good news is that Tonner's 5% fee does not appear to have kicked in on the Walmart sale.

The lawsuits have a few interesting notes:
1. Darling Capital original complaint asked for $57.6k in relief. The settlement (if you wish to call it that) resulted in the company agreeing to shell out $70k consisting of 4 payments (nice negotiating Sweet T!). As of the filing, only one $10k payment was made. The final payment was due yesterday, no doubt they are in default yet again.

2. LG Capital originally filed for $186.2k in relief. Because of OWOO's success in "protecting shareholders", that judgment is now a whopping $296.1k!!

3. No mention of Gel Capital lawsuit "settlement" in the 10Q which stated in the Courts the following: IT IS HEREBY STIPULATED AND AGREED: 1. OWOO agrees and shall pay to GEP the sum of $98,000.00 in three separate payments and subject to adjustments pursuant to the terms of this Settlement Agreement (the "Payments"), as follows: a. OWOO shall pay GEP the first Payment of $20,000.00 on or before May 21, 2015; b. OWOO shall pay GEP the second Payment of $45,000.00 on or before July 2, 2015; c. OWOO shall pay GEP the third Payment of $33,000.00 on or before August 13, 2015