Well, CEO apparently lied in a press release
, but the financial report confirms the big lie. CEO apparently lied in 2017 fluff press release
- oh my!
Did he pocket the cash himself or just not report it? If not, then where did the revenue from their "sold-out" tour go?
MLCG is pretty much flat broke, and has been diluting as fast as they can, but not many buyers at these high prices. Many retail investors couldn't even sell until their brokerage houses completed the reverse split and release the new shares for trading. Looks like MLCG will continue to dilute investors into the ground, since they kept share authorization at 15 billion shares after the reverse split.
They have no cash and no sales/revenue, despite claiming they would have "record" revenues. Check their financials. They had $0 sales/revenue. Check out the excerpt from the 2017 annual report, which showed $0 in revenue/sales.
Product sales - (none)
Costs of goods sold -
Gross Profit - Yet, MLCG indicated it has "record" sales
- apparently that was completely false. Who siphoned all the cash from the company?
MIAMI, March 7, 2017 /PRNewswire/ --
ML Capital Group, Inc. (USOTC: MLCG) today announced that the Company has sold out its first ever luxury cannabis tour scheduled around the upcoming Denver 420 Cannabis event. In January this year, together with Spanish Peaks ScrumpDelicacies and Puration, Inc. (USOTC: PURA) as co-sponsors, MLCG announced its official sponsorship of the Denver 420 Fest 2017 (http://www.denver420fest.com/
and its first luxury cannabis tour in Colorado in conjunction with the event. As of today, that luxury tour is sold out.
The sellout tour adds to MLCG's record 2017 sales track record.
MLCG recently published a management presentation detailing a preliminary $1 million 2017 forecast
based on its historical $400,000 in existing non-cannabis luxury tour annuals sales in combination with the recent introduction of its new cannabis tourism