Wednesday, April 18, 2018 10:53:33 AM
But since VTNL seems to be a 1-man company, and does not manufacture their product, it is within the real of possible for a reseller to use a private house to conduct business.
All he has to do is to man the phone, promise the stuff to dispensaries and vet offices, relay the orders to the actual manufacturer, get a steep mark-up and laugh all the way to the bank.
What worries me more is the capacity of LBC Bioscience to actually deliver sizeable orders.
You see, LBC Bioscience seem to be a very young company,
When LBC filed its S-1 in early 2017 it had no assets and $114 cash.
Its 2016 sales numbers were $37,710 of gross revenue.
Its final S-1 prospectus, filed 10/02/2017, showed $32,805 of revenues for the first half of 2017, and no assets (no real estate, no manufacturing plant, no equipment).
They were operating at a small loss.
The company filed a NT 10-Q on 11/14/2017, but has not managed to file the 10-Q nor a 10-K since.
Since LBC Bioscience appears to be VTNL sole supplier, will it be able to ramp up production and deliver the preposterous $$$millions of orders that VTNL purports to have ?
Stay tuned.
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