Friday, January 12, 2018 11:54:25 AM
Based on the 10-q, this company makes no money, has no assets, no employees, even goes as far as to point out their incompetence....
Based on this evaluation, our CEO and CFO have concluded that our disclosure controls and procedures were not effective as of September 30, 2017, at reasonable assurance level, for the following reasons:
? Ineffective control environment and lack of qualified full-time CFO who has SEC experience to focus on our financial affairs;
? Lack of qualified and sufficient personnel, and processes to adequately and timely identify making any and all required public disclosures;
? Deficiencies in the period-end reporting process and accounting policies;
? Inadequate internal controls over the application of new accounting principles or the application of existing accounting principles to new transactions;
? Inadequate internal controls relating to the authorization, recognition, capture, and review of transactions, facts, circumstances, and events that could have a material impact on the company’s financial reporting process;
? Deficient revenue recognition policies;
? Inadequate internal controls with respect to inventory transactions; and
? Improper and lack of timely accounting for accruals such as prepaid expenses, accounts payable and accrued liabilities.
As you are aware, a company is only worth or valued at what someone is willing to pay. The only value is the patent they bought for an agreed upon value of: 50k other than that, it's assumptions based on key achievements, which they have been incapable of doing. Why? no one works there. There are no workers to get things done.
Recent SBFM News
- Form 10-Q/A - Quarterly report [Sections 13 or 15(d)]: [Amend] • Edgar (US Regulatory) • 08/20/2024 08:05:21 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/19/2024 08:05:35 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/16/2024 09:00:24 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 08:05:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:05:09 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 07/11/2024 08:00:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/06/2024 09:05:31 PM
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 03/05/2024 09:37:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:05:35 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/23/2024 09:03:01 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/21/2024 09:28:39 PM
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 02/21/2024 01:24:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 10:01:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/15/2024 04:39:32 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:53:03 PM
- Form 424B4 - Prospectus [Rule 424(b)(4)] • Edgar (US Regulatory) • 02/14/2024 04:18:31 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/13/2024 05:15:10 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/12/2024 09:05:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/12/2024 02:04:50 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 02/09/2024 10:17:56 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 02/01/2024 09:17:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 05:38:24 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 01/08/2024 01:10:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/07/2023 09:59:51 PM
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