Ultrack Systems Inc (MJLB)

[VST7]

You have to take into account the fact that Steve/CEO had either 18 or 20Mil of his Restricted stock, he had the Restriction taken off, plus a Note Holder was issued 20Mil in NEW Shares, this is why the Unrestricted-(Float) went up from 230 Million to 270 Million.

IMO, from watching the Market Makers that are Dilutors for convertible notes, in my estimation this Note holders has at minimum 7 to 10 Mil share left to sell.

Then we have to wonder, HOW MANY Shares is Steve going to sell to "KEEP THE LIGHTS ON" since their Revs have dried up? Q1 Filing shows their Revs from Jan. to March; dropped from $276K in 2021 to $56K in 2022. A drop of $220K in Revs for only a 3 month period.

"IF" Transport Canada does NOT give Steve a Pass on his F'up wiring problem, then how will MJLB survive the next 6-8 months waiting for Certification after Resubmitting his "Fixed ELD", WITHOUT Selling shares to stay afloat?

"IF" Transport Canada gives them a Pass, then MJLB will surely see a Rebound, BUT if TC gives us a Pass, that means they have to give other Companies a "PASS" as well, to be fair to everyone.

One thing is for sure, Steve has NO Good News to release right now, he can't even be honest with shareholders about the Denial from Transport Canada on a wiring issue that does not conform to their standards.