JanOne Inc (JAN)

[Principian]

ARCI Financial Forensics....

I took a few passes over the ARCI quarterlies to get an understanding if the ApplianceSmart Revenue and its imoact to the ARCI bottom line. I then took the time to review the Live Ventures last 2 Quarters that they are now reporting ApplianceSmarts numbers. I think there is a high possibility that this has probably caused a revenue shortage to ARCI and with the lack of Revenue from Geotraq to plug the whole, ARCI have to contend with a 2017 Annual Loss as well as a further 1st Qtr 2018 Loss. I would suspect either will trigger issues with their Creditor's Loan Covenants.

They have roughly till around June 18th to post 10K and 10Q or provide plan for compliance to NASDAQ. With the stock now below $1.00 for over 4 months they face being delisted.