Tuesday, May 17, 2016 3:05:13 PM
1. I believe the late filings are all on purpose. The Class A shares provide serious penalties/benefits to the Class A investors if the company files late. Since the Class A investors took control of the board they have filed every Q/K late. This is a breach of their fiduciary duties to the shareholders and a weird conflict of interest. It's pretty f'd up that by not doing their job the directors benefit.
2. They are selling the service division as a hail mary to raise cash. By the time they pay off the money they borrowed from the board and their arrears there won't be much left. In the meantime they will lose all that money each month as free cash so their cash burn will go up and they'll be back to a cash flow crisis fairly shortly.
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM
Element79 Gold Corp Announces 2024 Clover Work Plans & Nevada Portfolio Updates • ELMGF • Sep 10, 2024 11:00 AM
Nightfood Holdings Inc. Completes Major Step on Uplist Journey by Closing Strategic All-Stock Acquisition of CarryoutSupplies.com • NGTF • Sep 10, 2024 8:15 AM
Element79 Gold Corp. Announces Sale of 100% Interest in Elder Creek, North Mill Creek, and Elephant Projects to 1472886 B.C. Ltd. • ELEM • Sep 9, 2024 9:34 AM