Baristas Coffee Company, Inc. (BCCI)

[jacksira]

Pretty good deal? We are all being had folks! This is one sick pony folks!

https://backend.otcmarkets.com/otcapi/company/financial-report/236222/content


(31)On February 25, 2019, the Company issued 10,000,000 restricted shares of the Company common stock to Barry Henthorn, the Company’s CEO, CFO,Principal Accounting Officer, Secretary and Director, for shares earned from March 1, 2016 through February 28, 2018 as granted under the amended employment agreement dated October 10, 2017. The four-year employment agreement granted Mr. Henthorn 5,000,000 shares per year beginning March 1, 2016 to February 29, 2020, an aggregate of 20,000,000 shares of the Company’s common stock. The shares were valued at $476,784 or $.0954 per share for the 5,000,000 shares earned from March 1, 2016 through February 28, 2017 and $37,250 or $.00745 per share for the 5,000,000 shares earned from March 1, 2017 through February 28, 2018.

page 18 Liquidity and Capital Resources As of September 30, 2019, we had cash of $170 and working capital deficit of $372,626. This compares to cash of $81 and a working capital deficit of $1,376,664 at December 31, 2018. The working capital improvement of $1,004,038 was primarily a result of issuing 20,000,000 shares of the Company’s common stock valued at approximately $1,028,000 to our CEO and former President pursuant to employment agreements. This stock was previously reported as accrued expenses on the accompanying consolidated balance sheets.


Revenues. We had minimal revenues from operations of $2,874 and $510 for the three months ended September 30, 2019 and 2018, respectively. The increase of $2,364 is attributable to increased coffee sales for the three months ended September 30, 2019 compared to the three months ended September 30, 2018.