We will moving away from Facebook as a primary channel for communication, and will use company press releases, website and other methods.
(Eddie, have you finally figured that out.)
Financials: The accounting is up to date, it needs to be reviewed and audited.
(Eddie, we have heard we are close. Now we are up to date.)
Stock: We are cancelling a large number of shares that were fraudulently issued and were not authorized by the Board of Directors.
(Eddie, congratulations on trying to save face on withdrawing from federal lawsuit. The attempt has failed.)
Restructuring: We are restructuring the equity of the company with a series of transactions. The restructure will allow the company to eliminate substantial debt, attract investment and senior management.
(Translation, we are issuing stock)
Legal: We are prevailing in all matters, trying to resolve all asap but not at the cost of compromising.
(I just don't see it Eddie)
Sales: In addition to the Africa sales pipeline of banks, we are working with a US based payments company that operates in Latin America.
(Hey Eddie, hollow update. What are the sales?)
Revenue: Due to a number of unplanned reasons, roll-out at UBA has slowed in the past year, this has caused financial problems for us as we have relied on this account for revenue.
(Reason number 1. You need to pay Eldaddy Ding Dong. Paying employee salaries is key.)
Management: We engaged a new senior officer in early November, with plans to replace the CEO in Q1. This is someone with extensive CEO experience with tech companies.
(What's the secret Eddie? Who is the savior?)
Re-listing on OTCQB: We will only re-list as a fully reporting company, we plan to register with the SEC when our Form 10 filing is complete that will include audited financial statements.
(Come on now Eddie. Remember the trial balances. I know your plan. Audit 2017 and 2018 and bury the real estate transactions. It won't work. ). I have the dossier.
Investment: The company requires investment to continue operations. We are working with private investors and strategic partners raising $1.5 million.
( Well this is true but at the same time in your sick mind, continuing lawsuits is more important than continuing operations. Makes perfect sense to me. )
Shareholder plan: I expect opening valuation on OTCQB to be several times higher than when we withdrew.
(Not a smart thing to say, I guarantee that!!!!!!!!!!!!!!!!!!!!!)
We are reducing the number of authorized shares and reverse splitting the stock, this is a net even transaction that does not dilute shareholder equity.
(Still waiting for the filings at the State of WY.)
Factors affecting valuation will be:
Cancellation of fraudulent stock
Issuance of stock to resolve debt
Issuance of employee stock
Issuance of investor stock
(And your resume Ed)
The issuance of new stock does have a dilution effect, however, it is offset by two factors. The stock is being concentrated with the cancellation of fraudulent shares. A significant amount of debt is being repaid in stock instead of cash.
(Translation. You're screwed as a shareholder because Eddie has spent your money on lawsuits.)
