It's easy to point out 10 reasons that would startle a potential investor, but let's look closer into those claims.
1. Tim built Jobs.com and sold it for more than $50 million dollars. While some may see his time as ceo of Nurses Lounge was quite pitiful, how exactly was it a scam?
2. With more and more people having higher disposable incomes, and car ownership being at an all-time high, the niche market place for car accessories/modifications is only getting bigger with greater demand from all over the world.
3. Amazon charges high fees to sellers, in excess of over 15%, hence why 4less opened up its own website to avoid these high fees. 4Less, on the other hand, offers to lift kit sellers the ability to place items within their warehouses and not be charged until the sale of the given items.
4. While 2018 10K may have shown a good deal of debt, it is quite clear through the clear presence of dilution in both FLES and MCGI, that much of these debts have been cleared. In addition, how can you assume how much debt FLES has when the financials haven't even been released? LOL?
5. In 2018 we pulled over $8.3 million with gross profits of over $1 million. In 2019, we are on track to beat that with $2.25 million in Q1 with gross profit at $750,000. If this stays consistent for the rest of the quarters in 2019, that would put FLES at $9 million revenue with over $3 million in gross profit.
6. When MCGI merged with FLES, MCGI used a completely different accountant than FLES, therefore it would've been easier for MCGI to switch to the accountants FLES were using (Fruci) to make the auditing much easier and efficient. Why they chose to do that at the last minute, no one really knows. It is clear through both calls with Fruci and Fles CEOs that the 10k is still being worked on.
7. Tim has been known as a dilution machine, but some may think it's to fund his lifestyle (questionable), or it is simply to help expand FLES so that it can target a greater customer-base and generate a greater profit?
8. The only name change associated with Timothy Armes is changing Nurse's Lounge (MCGI) to FLES due to the merger. Nurse's lounge was a public company while FLES was private. FLES wanted to become a publicly traded company so they merged with MCGI. Seems simple enough to understand.
9. Steffan had to take on a much larger role, with the recent acquisition of another company, therefore he didn't have the time needed to respond to FLES shareholder's questions, so he delegated the role to one of his colleagues. The news is there. It's not a secret.
10. For some, OTC/PINK stocks can be very lucrative. While you may have had a terrible experience trading OTC/PINK stocks, it doesn't mean every one of them is a scam. Really???
Your 10 reasons have been debunked, and with a little research, it isn't hard to see right through them.
