Tuesday, April 24, 2018 8:44:06 PM
We have 4 trading days left before the end of the month. At that time, mPhase should have audited financials ready for the new company. If not, the new company can choose to give more time or to cancel the deal. If they do have the financials, the new company will need some time to review before they give the green light. Regardless of the time to review, mPhase should file the audited financials to the SEC immediately. If they do, it would be a good indication that things are on schedule.
Keep in mind that the new company won't care if the company has a profit or loss. It will look at the auditor's report of any financial obligations the company may have. mPhase put out an 8k stating that they took care of their toxic debt and set up a payment schedule with the financier as a regular loan. That loan turned out to be discounted drastically as long as the company paid it off pretty quickly. IMO, the elimination of the toxic debt was a sign that mPhase was pretty serious about the reverse merger and that the deal will likely go through.
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM