Bots Inc (BTZI)

[lesgetrich]

How could a company Mcig that was in business for years, change their name and refocus the business, have only 3 employees.

Easy explanation. Most of their "employees" were contractors and were let go as the sales collapsed with Grow Contractors and then the Farm On contract. Paul next toyed with a joint venture with Bare Roots RX but by then the market for MJ was collapsing under fierce competition. With no new sources of income and the old sources having failed Paul had no choice but to minimize his payroll and redirect the business plan to something more promising. We all knew this three years ago and have been waiting for the new business plan to produce revenue. The company seems to be on the verge of doing so but this SEC action regarding their new rule (yes, a new rule that the new management would not have known how seriously it would be enforced) has thrown a monkey wrench in their plans. Shareholders actually should be grateful that through all those years, Paul managed to run the company without taking on any debt or selling any toxic shares.

I'm not saying it wasn't stupid for management to let the financials fall this far behind but it does make sense that they would want to delay news that they were not realizing any revenue, even if most of us guessed that was the case anyway. They needed time to get a revenue stream up and running and didn't want the pps to collapse in the meantime. For all practical purposes they are now like a start up company again.