Well, MCGI, a public company with massive debt, essentially a shell, merged with 4Less, expanding business with great revenue for the pink sheets. They merged into Fles and started trading at .60, or .0001, which was the former price of MCGI. Many, including I, thought dilution was over as MCGI went from hundreds of millions to billions of shares. So, we invested back in April with the hope of seeing the awaited 10k of Fles, which would shine a light on how great of a company it was and bring about a major reversal to the pps of Fles. At that time, there was a 2M OS, so everyone was thinking the 10k would put us at $10-15 a share. Then in Mid-May, when the 10k was expected to be released, it never got released. Instead, Fles management said we will release end of next week. End of next week shows up and still no 10k. Then it became shortly and than soon. In the mean-time, no one suspected dilution was taking place. We had seen a run from .40 to $2 in 1 day with light volume, so this was one of those stocks which could run easily. Time goes on and volume increases. Then we get an 0S updated in early June that put us around 5M OS, which wasn't too bad considering we were trading at like .30 and had over 8M in revenue. So, here we are today, dilution continues, the revenues are solid, over $8.3M confirmed in the recent consolidated report. The accountants are still working on the 10k, and, well, many think the 10k will bring change. As of now, the 10k is 3 months late and we really have no idea when it will be released, but in the mean time shares will continue to be diluted. But let me get this straight, we dropped close to 50& on what 1M shares? This is very undervalued. If this continues, we will have a 17M OS and be sub penny. There is value in this company, and the CEO and fellow longs know it as well. We just need market sentiment to be bullish, and that hasn't happened in a while. Once the 10k is released things will change for the better, but it is not a matter of if but when?
