Saddle Ranch Media Inc (SRMX)

[nodummy]

Since all five 3(a)10 transactions involved debt owed to Techware Technology Co Ltd it suggests a pattern where Timothy P Peabody is going to continue to seek out 3(a)10 funding until all of the Techware Technology Co Ltd debt is paid off.

Probably the best way to determine the possibility of any new 3(a)10 lawsuits in the future would be to find out how much debt Tricascade Inc owes to Techware Technology Co Ltd.

The SRMX OTC filings do not itemize their debts very well. They list $1,845,926 in liabilities, but they do not specify which part of those liabilities belongs to Techware Technology Co Ltd.

https://backend.otcmarkets.com/otcapi/company/financial-report/185746/content



Most likely its the line that is titled "Amount due to product developer" since that is the only line that decreased between September 30, 2017 and December 31, 2017 while the first three 3(a)10 transactions were taking place.

$487,000 was due to the product developer on June 30, 2017 then during the 3rd quarter of 2017 the debt went down to $385,000

https://backend.otcmarkets.com/otcapi/company/financial-report/184961/content



That is consistent with the first 3(a)10 transaction from July 18, 2017 which covered $102,000 due to Techware Technology Co Ltd

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX1.pdf

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX1b.pdf

So the second 3(a)10 transaction from October 3, 2017 that knocked off another $175,000 should have taken it down to $210,000

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX2a.pdf

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX2b.pdf

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX2c.pdf

The third 3(a)10 transaction from November 28, 2017 that knocked off another $100,000 should have taken it down to $110,000

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX3a.pdf

But the annual report for December 31, 2017 showed a balance still due of $157,100 not $110,000

https://backend.otcmarkets.com/otcapi/company/financial-report/185746/content



There are only two possible explanations for the balances not matching. #1) SRMX received new invoices from Techware Technology Co Ltd during the 4th quarter of 2017. #2) SRMX is double dipping and using the same invoices more than once as a way of getting more cash for the company

#2 is highly illegal so I sure hope that's not the case. Unfortuntely, not all the lawsuits have copies of the invoices included in the lawsuit so we can't compare all the invoices to see when the work was done and to make sure the same invoices are not being used for more than one 3(a)10 transaction. More likely Techware Technology Co Ltd is just doing new work for SRMX and billing SRMX with new invoices.

Using the new $157,100 balance due as of December 31, 2017, the fourth 3(a)10 transaction from January 23, 2018 that knocked off another $100,000 should have taken the new $157,100 balance down to $57,100

https://promotionstocksecrets.com/wp-content/uploads/2018/01/SRMX4a.pdf

But the fifth 3(a)10 transaction from February 12, 2018 is for $100,000 which is more than what should have been left. That means that Techware Technology Co Ltd must have served SRMX with new invoices since the start of the new year.

It appears the issue goes beyond just paying off old debt. SRMX is using 3(a)10 transactions to pay off new debts as the invoices arrive. This makes it impossible to determine how many more new 3(a)10 transactions may take place in the future. It looks like as long as Techware Technology Co Ltd is providing services for SRMX there will be an endless stream of dilution.