Legion M

[Handyman4545]

I know just enough about GAAP accounting to know that I shouldn't be talking about any numbers before they are reviewed by accountants. :)

This is not helpful Jeff.

"A[n SEC} reporting company also has record keeping requirements, must implement internal accounting controls and is subject to the Sarbanes-Oxley Act of 2002, including the CEO/CFO certifications requirements, prohibition on officer and director loans, and independent auditor requirements. Under the CEO/CFO certification requirement, the CEO and CFO must personally certify the content of the reports filed with the SEC and the procedures established by the issuer to report disclosures and prepare financial statements."

Your statement did not paint you as as a reliable captain of the ship.
It painted you as a captain who is sure we'll get there... so long as the navigator and helmsman know how to get us there.

Granted, you're not yet under the auspice of SEC oversight yet but if you ever intend to become a public company (which we all hope for since our money is wasted if you don't) you need to understand this part if nothing else.
YOU are responsible for the success or failure of the company, not the accountant.

P&L's don't divulge specific confidentialities.
They don't tell what any individual person or company made, lost or agreed to.
They simply state project "A" made or lost this much money after these expenses were deducted.

American Greed is chocked full of cherubic business personalities having a massive party & lifestyle at the expense of the investors but there was a huge price to pay for it.
Interesting coincidence that your latest round of funding closes before your alleged and thinly described public financial disclosure.

Once again Jeff.
If you and Paul are not comfortable with pulling the company out of the red and then running it in the black, put someone else in who can.

I am an investor.
I may not have any voting rights (fortunately for you) but I can still make my opinions and suggestions known to my fellow and future investors.

Full disclosure on your part might change the way I feel and write.