Saturday, May 13, 2017 7:51:30 PM
OK! It really sucked. I had hoped that by saying that it was great, people would actually read the 10-q and see how bad it really is.
So here's the bulletin! Our fearless leader who was to take us to fame and fortune, who, in his words, "...is a genius as a strategic advisor specializing in rendering expertise in the areas of capital planning and procurement, licensing and branding....", has been unable to get the conventional financing he was expecting through Deutsche Bank, and had to resort to private funding (we all know what that shit can lead to).
Next, he hired a promoter, Simon Graj and added him to the Board of Directors. Quoting Giordano, "Graj is a pioneer in the world of branding and retail. He's been called the "Willy Wonka" of the fashion industry. {well, dip him in chocolate and save him for Easter}. If Giordano is so damn good, why do we need to hire someone with the same claim to fame, i.e. marketing guru? Why? Because Giordano isn't nearly as good as he thinks he is. We have no business and mounting debt.
We're under contract to pay $20,000.00 per month for licensing of a product which has had no that's Z-E-R-O income to date. And we are committed to a 3 year contract.
Joy Nunn, the real expert in fabric rejuvenation and a Corporate Director, resigned in February 2017, refusing* to continue as Director. Wonder why there was no 8-k on that?
Lastly; net losses have doubled this quarter over last quarter.
* The words , "refusing to continue as Director" is quoting someone else, so I can't verify its veracity, but given the data at hand, it sounds reasonable. I suspect, with all the flimflamming, the hiring of, and inclusion of Graj as Director was the last straw.
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