Friday, July 07, 2017 3:33:37 PM
And the one other aspect that stood out was that Paul said the company has not been selling any shares. Which sounds good until you realize they've given away 445 million shares in the past 6 months to pay off minimal debt. A single quarters revenue should have been able to do that.
I'm looking forward to checking back here in 3-5 years, to see if they've graduated to touting $100 million + revenue and still claiming audits are too expensive. Of course all while investors continue to claim that audits aren't important. I feel like there's a good chance that this company will NEVER verify the amount of money they have made, through a credible 3rd party firm.
If a kid walked up to me with a baseball card and said it was worth $1 million but he was selling it for $100 and asked me to buy it, I would look for proof or validation, just as any logical person would. But for some reason that same simple logic goes out the window here because traders "feel" like the company is telling the truth.
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