Leet Technology Inc (LTES)

[Sobek]

Yeah lol, it took me a few times to find Lucky. I'm not an attorney either, but know that many companies hide behind the 'Forward Looking Statement' clause to protect themselves.

But I think it's not as much as coming clean in filings as opposed to their accountant not wanting to lose their license for smoking the books, hence why it took so long to get the filings out. Can almost be positive they were screaming at Wainer, "WTF BRO", for the last couple months, hell they might even quit as well.

As far as what the future holds, who knows. Their eps tanked which was my biggest concern. Second biggest concern is the share structure... authorized went up 10 million to 120 million shares, o/s increased almost 25%, and they've yet to sell the 5.5 million issued to the float from the ipo and now the CEO owns the equivalent to 100 million commons in preferred shares and has yet to retire his 8 million which is rapidly becoming only a drop in the bucket. Liability/asset ratios aren't that much of a concern in new and growing companies as long as they trend friendly. It's that bottom line.

But let's say they do get 5,000 units out. What's it going to cost us in equity? Another 5,10,20 million shares? If you think about it, with the o/s increasing almost 25%, they once again just stripped shareholders of any equity they built up in new unit revenues.