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Thursday, July 30, 2020 11:33:17 PM
Thinking SGMD paper goods fiscal Q4 approx $650k and PPE sales another $600k..??..Fiscal Q4 $1.25m..Add that to the previous 9 months revenue ($1,891,140) ending Mar31 and the yearly 10k 2020 that gets reported circa Sept30 likely nears 2019 $3,459,511..
Jimmy's 8k made clear that until SGMD exercises 30% option for Budcars controlling interest, SGMD will not be able to record the Budcars revenue in financials..but still able to share in profits, although Jimmy 8k'd at this time no profit.
"Sugarmade has acquired a 40% stake in BudCars and has been granted an option to purchase an additional 30%, which could provide Sugarmade a controlling interest. Thus, Sugarmade will share at the rate of 40% on all profits generated, if any, by the operations. Upon gaining a controlling interest, if such an event ever occur, Sugarmade would be able to consolidate all the revenues of the operations and report all such revenues on its financial statements."
My question is why wouldn't Jimmy expedite exercising the 30% option for another $525k and obtain controlling interest and benefit of reporting consolidation of all Budcars operations including revenues in SGMD financials??..If revenues growing 30% monthly, and multiple locations coming on board, why not fork over a measly $525k now and keep the 70% of Budcars growth in SGMD's hands, especially at 50% gross margins?
Jimmy, please clarify terms of exercising additional 30% Budcars controlling interest option..Budcars could do $12m in revenue next 12 months, but apparently not even 40% could be reported as SGMD revenue in financials..thx
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