On4 Communications Inc (ONCI)

[Anvil]

Here is a GAAP lesson. For the 6 months ended April, 2019, net income was $1.1 million, A/R increased $1.7 million, resulting in negative cash flow of $600k.

They paid $300k for some scam name Cogsomething.

They financed the NEGATIVE CASH FLOW, with $711k debt from the CEO, $155k note payable, $80k of toxic debt and approximately $20k in accounts payable.

At least that is what the company is reporting.