You would probably also offer potential buyers proof that you were profitable outside of saying "we're profitable" and writing on your own internal balance sheets that "we're profitable." If one wanted to sell their business or merge, they would have audited financials. Not doing so is essentially saying there is not intent to perform either of these actions, or you're potentially hiding something even more nefarious.
Saying audited financials are too costly, while expecting nearly $1.7 million monthly should be a clear red flag for any investment. Any company at this stage of claimed revenue should be jumping at the chance to prove their reports, rather than making jabs at daytraders in their press releases.
What is hurting this stock more, daytraders, or the fact that they're simultaneously diluting hundreds of millions of shares, while claiming to be making the sort of money that should make dilution unnecessary? It gets worse when you realize that as claimed revenue hitting record highs, and the stock gained as much as 600%, rather than use any of that cash to pay off debts to give shareholders a break, they more than doubled the rate of dilution in Quarter 2. Quarter 1 = 145 millions shares issued.
Quarter 2 = 300 million shares issued.
Since those are the "negotiations" and they will be negotiating more, look out for even more shares to be issued in Q3. Drip, drip, drip.
It gets easier to understand the current price, when you start looking more closely.
300,000,000 shares at $.0022 would be $660,000 but as the PR stated, we were up far more. As high as .0042.
300,000,000 at $.0042 would be $1.26 million.
Why did 300,000,000 shares issued only take care of $300,000 debt? Where's the rest of this money going. The questions abound.
I'm a share holder here but I'm starting to like this less and less...
