Bitech Technologies Corp (BTTC)

[Amigo Mike]

From yesterday's 10k

Management Overview

At the end of 2008, we launched our new business concept of medical services and technology that delivers turnkey solutions to spine surgeons, orthopedic surgeons and other healthcare providers for necessary, reasonable and appropriate treatment for musculo-skeletal spine injuries. Moving forward, our main focus will be on the expansion and development of spine injury diagnostic centers across the nation.

During the fourth quarter of 2018, the decision was made to discontinue funding future medical procedures due to our cash position, which also hampers our ability to pay back existing debt to Wells Fargo and a current shareholder (see Note 6—Notes Payable and Long-Term Debt). We have not funded any procedures in 2019 and will not do so unless we can access additional capital. The service revenue we have funded has resulted in longer settlement times, which has created a slowdown in cash collections. Additionally, our efforts to establish a market for the Quad Video Halo has not met our expectations and we have cut back its development and operations, however in late 2018 we were able to sell certain contracts to customers for the use of our QVH units along with image processing services.

There can be no guarantee of us continuing as a going concern if we cannot find additional funds. We continue to explore opportunities to raise additional capital to fund the Company’s operations.

I hope most of the long termers that owned the stock sold already. Feel bad for those that bought mgmt's and their mouthpiece's sunshine for all these years. All those "private message board" posts too. Simple formula. Poor MGMT. PERIOD.

I clearly stated MGMT wasn't getting the job done on numerous occasions and here it is. The company has been mismanaged to the point of more or less discontinuing funding of medical procedures. MGMT has known for YEARS of the need for capital and only way to turn the tide was to get money and expand ..... Yet they didn't do it ..... One excuse after another. Love CFO saying MGMT is committed to the business. IT DOESNT MATTER HOW COMMITTED YOU ARE IF YOU SUCK AT YOUR JOB.

Such an easy business ..... Run into the ground.

Amigo Mike