Auto Parts 4Less Group Inc (FLES)

[DKEZ]

Some fun insight from the Medcareers 10k following the acquisition of Nurses Lounge because it’s my day off and I have nothing better to do:

Although it is not presently anticipated that the Company will make a significant acquisition, the Company may enter into additional merger and/or acquisitions with separate companies, which may result in our majority shareholders changing and new shares of common or preferred stock being issued, resulting in substantial dilution to our then current shareholders. If we do consummate any acquisitions, and our management fails to properly manage and direct our operations, we may be forced to scale back or abandon our operations, which will cause the value of our common stock to decline or become worthless.

Bold section sounds accurate as of right now.

Shareholders May Be Diluted Significantly Through Our Efforts To Obtain Financing, Satisfy Obligations And/Or Complete Acquisitions Through The Issuance Of Additional Shares Of Our Common Stock Or Other Securities.

We have no committed source of financing. Wherever possible, our Board of Directors will attempt to use non-cash consideration to satisfy obligations. In many instances, we believe that the non-cash consideration will consist of restricted shares of our common stock or other securities. Additionally, moving forward, we may attempt to conduct acquisitions of other entities or assets using our common stock or other securities as payment for such acquisitions. Our Board of Directors has authority, without action or vote of the shareholders, to issue all or part of the authorized but unissued shares of common stock and preferred stock with various preferences and other rights. These actions may result in substantial dilution of the ownership interests of existing shareholders, and dilute the book value of the Company’s common stock.

This looks accurate as of present day as well, the PR about institutional investors was the bait that got most of us to bite. Clearly misleading now that it’s been months upon months with no update and clear dilution has resumed indicating no such financing has, or ever will, occur.

Tim is clearly the old dog that can’t learn a new trick and the PRs stating otherwise have only served to mislead potential investors.

Source: http://getfilings.com/sec-filings/130923/MEDCAREERS-GROUP-Inc_10-K/

Love,

Dad


P.S. this 10k, similarly following an acquisition, was filed September 20 (2 months later than we currently sit for all of the math majors out there). Hopefully this date is irrelevant information but worth noting since Timber is such a creature of habit.