Are you serious?....ohh my gawd….ATPT is filing under Dark Status...at best Skull and Crossbone nothing can be believed in their filings....although their last Q was very easy to read as they have zero dollars ….no actually they have -10k for 2018 and -27k for 2017. This supposed deal for Budlife is now over 18 months and it still has not been committed too...so now you will know why... at the end of 2017 they had $550 in the till...now they have at the end of 2018 is 0...that's right zero dollars. THis is why there has been no more follow thru on the Budlife product…..
Once fully tested and with sufficient inventory in place to satisfy projected demand, the Company will expand nationally in the balance of the medical marijuana states, leading with the contiguous states in the West, and Alaska.
Prototypes of the Company’s initial products have already been created and tested, and development of a production model is in hand. The Company is negotiating with a Minnesota-based company for them to manufacture the finished products to the Company’s specifications. Part of the proceeds of the Primary Offering will be used to acquire equipment to manufacture and assemble proprietary components for the Company’s products; this equipment would be co-located at our manufacturer’s Minnesota premises assuming we finalize negotiations with the Minnesota manufacturer. We plan for finished products to be stored there onsite or shipped to distributors, including the Company’s California distributor, Sugarmade. Why the heck would you be manufacturing in Minnesota???...say what?...Acquiring equipment??...say what?? colocated? huh? why???
This is why that I think SGMD will never complete this deal...it's a bloated pig deal!!! Who was that who originally said this was a bloated pig offer.. Mudpuppy??….I was too busy to read the filings ...but now I know why he coined it...:
USE OF PROCEEDS
We estimate that the net proceeds from this offering will be approximately $7,900,000.00 after deducting the estimated expenses of registration. they figure that they need some 2 mil walk arounf money...
We anticipate that the net proceeds of the Offering will be used primarily to execute our business plan as follows: $500,000 for the acquisition of new development and production equipment, $1,200,000 for hiring personnel, $2,000,000 for purchasing supplies to produce our packaging products; and $4,200,000for general working capital. Additionally, proceeds may be used for retiring debt, initiating the process of listing our stock on the OTCQB (or another quotation board) and receiving DTC eligibility, paying other general and administrative expenses, and use as general working capital. The precise amounts that the Company will devote to its programs will vary depending on numerous factors, including but not limited to, the progress and results of its research and assessments as to the market potential of its proposal to develop the business. In the event that we sell less than the maximum shares offered in the Primary Offering, our first priority is to pay fees associated with registration of our stock and becoming a publicly traded company.
...and this is just funny sh1t..that tells me how screwed up ATPT is...…………….:
On July 2, 2018, the Company entered into a Settlement Agreement (the Settlement Agreement"), whereby the parties terminated their Purchase Agreement dated
December 8, 2017 with Maurice Parham in accordance with the termination provisions in said Purchase Agreement, and return the parties to their pre-Purchase
Agreement status. Thereby Maurice Pelham resigned from the Company and Joseph Passalaqua was reinstated to the Board of Directors of the Company. Maurice
Parham will not transfer to the Company the rights to the Universal Nation business plan.
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