Facts are indisputable I totally agree. So with that I would urge you to read the 10Q and K that were released today. Highlights being:
Company only has 4 employees. 3 of those officers make $450k each per year thru 2020
2017 - Revenue $128k
2017- Co lost $15.6mil
2017- Co issued 22mil shares, restricted many to " consultants/advisors" for zero cost
Many claim SPYR is losing money because its all R&D, well 2017 they only spent $1.6mil on R&D (recall total loss was $15.6mil) so only 10% of loss was R&D
Cash and cash equivelants- $87k
Auditor issued a " Going Concern" clause to their filing
During first 6 mo's of 2018 co issued another 5.6mil shares to "consultants/advisors" again, at zero cost.
Please read closely the following as many feel the company has no exposure to Fiore and the SEC, as you will see the total opposite is true:
On June 18, 2018 the Company was named as a defendant in a case filed in the United States District Court for the Southern District of New York: Securities and Exchange Commission vs. Joseph A. Fiore, Berkshire Capital Management Co., Inc., and Eat at Joe’s, Ltd. n/k/a SPYR, Inc. Joseph A. Fiore was the Chairman of our Board of Directors and is a significant shareholder. Mr. Fiore resigned from his positions as Chairman of the Board and as a Director of the Company effective August 1, 2018. The suit alleges that Mr. Fiore, during 2013 and 2014, while he was the Company’s Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors, engaged in improper conduct on behalf of the defendants named in the case related to the Company’s sales of securities in Plandai Biotechnology, Inc. The Commission alleges that Mr. Fiore and the Company unlawfully benefited through the sales of those securities. The Commission also alleges that from 2013 to 2014, the Company’s primary business was investing and that it failed to register as an investment company, resulting in an alleged violation of Section 7(a) of the Investment Company Act of 1940. The suit seeks to disgorge Joseph A. Fiore, Berkshire Capital Management Co., Inc., and the Company of alleged profits on the sale of the securities and civil fines related to the Company’s failure to register as an investment company with the Commission.
ALL of the above CANNOT be disputed as it is directly from the 8K and 10Q.
AI
