Look, I'm all for throwing out the warning flags on risky stock, perhaps because I have lost so much money by not understanding what I own, when I own(ed) it.
BUT, I do read the filings and what you are saying isnt true.
I'm the one here that has pointed out that they have an accumulated deficit of over 22 million. BUT, that is not the same as DEBT.
The debt is stated right on the Q -- it is (-5,587,221).
As for taxes owed, this is what it says in the last Q
We have been unable to make all required payments to the federal government for payroll taxes withheld from employee paychecks and the associated matching employer payroll taxes from April 1, 2015 through December 31, 2015 and for November and December of 2016. As of August 4, 2017, we owed approximately $309,000, including penalties and interest assessed through December 31, 2016, for the previously described payroll tax obligations to the federal government. We proposed a payment plan to the federal government and made payments totaling approximately $87,000 from September 30, 2015 through June 30, 2017, but we have not reached an agreed payment schedule for the remainder of our federal payroll tax obligations as of the date of this report. We made all federal tax deposits for 2017 payroll periods through June 30, 2017, however have been unable to make federal tax deposits for two payrolls paid in July 2017 and consequently owe federal employment taxes of approximately $25,100 as of August 4, 2017.
So they owe back taxes from other years and now are behind for this year.
As you can see, they are trying to negotiate a settlement for back taxes but its probably hard to negotiate a reduction for back taxes when you haven't paid current ones.
Not good owing the Fed govt and I dont know how these issues are settled... I do know I bought shares of stock trading sub-penny and they were behind on payroll taxes and eventually just disappeared (ticker no longer found/quoted)
Anyway, lots of strikes against this company, and its a lotto play at these prices. BUT AS BAD AS IT IS -- IT ISNT AS BAD AS YOU SAY.
