This is from the FB group. A guy posted this and it helped me quite a bit. These seem to be the main points to look for on a 10-k
Okay, so there have been a ton of posts on here about whether or not you should buy this stock and when you should buy it. I am not a financial advisor and to use my advice is to do so at your own risk. But I will share some of the due diligence for those of you who dont know how to read a 10-k
1.) Revenues from 2019 were $2,429,442. This has increased YOY since the acquisition by Brian Goodman.
2.) Operating Expenses were at $1,769,890. Revenues far outweighed company operating expenses for FY19
3.) Cash Equivalency (money in the bank) was at $1,731,095. This is almost enough to cover the operating expenses for the entire year. So the company is in good shape for a short term economic downturn.
4.) Shares outstanding. This is where people get nervous. Remember, this company was originally a mining company and submitted offerings and R/S like candy. The current S/O is 2,814,601,020. When the R/S hits, it will decrease the float to 18,764,007 share. Not sure if this will be a micro or a small cap. Doesn't really matter. Volatility wil be in our favor.
5.) There are 0 offerings with no S3 filed. During the year ended July 31, 2019, the Company issued 13,000,000 shares of common stock for services.
During the year ended July 31, 2019, the Company issued 209,414,000 shares of common stock for the settlement of convertible notes.
As of July 31, 2019, 6,000,000,000 common shares of par value $0.00001 were authorized, of which 2,845,318,757 shares were issued and outstanding.
The offer and sale of such shares of our common stock were effective in reliance on the exemptions for sales of securities not involving a public offering, as set forth in Rule 506 promulgated under the Securities Act of 1933 and in Section 4(2) of the Securities Act of 1933. A legend was placed on the certificates representing each such security stating that it was restricted and could only be transferred if subsequent registered under the Securities Act of 1933 or transferred in a transaction exempt from registration under the Securities Act of 1933.
6.) Convertible notes. Ready for this? "The Company no longer has any mining Assets. All mining claims and assets were disposed of and or transferred in exchange of the cancellation of Convertible Notes held by various Note Holders." They have all been settled and cancelled.
IMO this is a long term hold. Hopefully this clears up some of the FAQs we get on this specific stock.
AI
