Wednesday, August 02, 2017 9:56:26 AM
LOL From Investopedia...
What is 'Net Income - NI'
In hindsight, the $1.6 million net income turned out to include $1,081,173 in one time profit from the sale of the VitaCig product line back to mCig for the return of 172,500,000 shares of VTCQ/OMHE stock. This was unexpected, but accurate according to GAAP accounting, since mCig had previously only claimed the purchase price of the Vitacig product line on its financials as $68,123.
Now that we've seen the financials and the large one time gain from the VitaCig sale, it's apparent that $1.6 million can't be projected across 4 quarters. That wasn't the case when I wrote that piece.
Based on what we know via subsequent financials and management sales projections, OMHE is still undervalued and should be trading at a minimum of $.05/share (or $.13/share once the OS restructuring is completed).
Les
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