Emotion Fashion Group, Inc is a wholly owned subsidiary of RETC meaning RETC has direct control over how this unit is managed. Why is this one's status expired during 4Q 2020 for failure to file a renewal?
Maybe it had nothing going on to begin with & RETC's claim of making PPE material is just b.s.?
10-K 2019 excerpts:
Management took steps to promptly close all its Bluwire stores and Fashion Group operations, laying off the vast majority of its employees. The Company’s landlords and Libertas, Vox and Reliant have all agreed to collections deferment of an indeterminant duration. The Fashion Group continues limited operations in creating and producing PPE materials.
So which subsidiary within the Fashion Group is making the PPE stuff?
More from 10K 2019:
Samantha Sisca (“Sisca”) was the Seller of the membership interests of Social Decay LLC d/b/a Social Sunday (“Social”) to the Company. The Company may have claims and/or causes of actions against Sisca for misrepresentation, breach of contract, and other claims. On April 15, 2020, Sisca terminated her employment with the Company. Management has not determined the extent of its claims, nor what actions are in the best interests of shareholders.
Sisca is no longer as of 4/15/2020. Who is running this subsidiary now? No answer at the number made available online.
RUNE NY telephone number: "Your call cannot be completed as dialed please check..." This business is run on an "by appointment only" basis. If the phone number doesn't work, how does anyone make an appointment? Send emails I guess:
From 10-K 2019:
Rune NYC, LLC leases 550 square feet for $1,950 per month at 252 West 38th Street, NY, NY 10018. Rune still sublets 50% of the space to another fashion brand for $750 per month lowering its monthly rental cost to $1,200. The lease expired February 28, 2020, and the company has been month to month thereafter.
Did they terminate their month to month lease, go to another location & not take their business number? Very strange.
Who controls all these "subsidiaries" would that be CEO/CFO/Directors who are living in Asia?
C'mon people.
AI
