Sunset Island Group Inc (SIGO)

[Alan Brochstein]

SIGO DOESN'T ACTUALLY OWN THE CANNABIS

This is how SIGO describes itself in the 10-Q:

The Company’s principal line of business is the cultivation of medical cannabis.

Apparently they are a service provider. We have never seen a dime of revenue for the company, though their recent 8-K from 9/8 says:

The Company generated approximately $194,000 in revenue for month of August.

This could be true, but perhaps they are booking the entire revenue for their client, VBF Brands (that's the name on the lease).

We will have to wait until the next financial statement to see how this works in terms of profit to the company. unfortunately, the 10-K isn't due until the end of January. It's clear, though, the company owned NO PLANTS and NO INVENTORY OF CANNABIS as of 7/31, one day before sales commenced. This must be because THEY DON'T ACTUALLY OWN THE PLANTS OR THE DRIED FLOWER PRODUCED. Maybe the CFO doesn't know what she is doing? That's the only other explanation.



SIGO IS A SCAM - BE CAREFUL!