At a quick glance, sort of a 30,000 foot quick view. Rev's for the quarter down about 10% vs last year same quarter about $85K difference. The real surprise here is total the total NET LOSS has been GREATLY REDUCED!
2021 was $7,346,362 2022 now $1,279,297 a reduction of $6,067,065 that's about an 83% reduction in NET LOSS!!
With that said, it was done through massive dilution: 2021 O/S was 4,850,306,210
now in 2020 it's now 15,589,961,938 a 10,739,655,738 increase in O/S
There has been no more dilution since last Q outstanding shares/OS remain the same.
Take note: Discover can't dilute below $.0003
"On April 1, 2022, the “Company entered into a promissory note (the “Note”) in favor of Discover Growth Fund, LLC (the “Discover”), in the aggregate principal amount of $1,200,000 for which the Company received $1,000,000 in cash, reflecting an original issuance discount of 20%, with repayment to be made not later than April 1, 2023. Pursuant to the Note, at any time and from time to time Discover may, in its sole discretion, subject to certain ownership limitations, convert all or any portion of the then outstanding balance of the Note into shares of the common stock of the Company at a price per share equal to the closing bid price on March 31, 2022 of $0.0003. The Company recorded a debt discount of $200,000 for the original issue discount amortizable over the succeeding twelve months in accordance with ASC 835-30-45. Interest expense of $50,000 was recorded for the three and six months ended June 30, 2022.
Below is part of the Remo Weber deal!
On July 13, 2022, 79,175 shares of Series C Convertible Preferred Stock were converted to 791,750,000 shares of common stock.
On July 13, 2022 the Company signed a definitive agreement to acquire Electric Built, Inc. headquartered in Inglewood, California. The Company had initially executed a binding Letter of Intent (“LOI”) on April 8, 2022 with Electric Built, Inc. The acquisition is expected to close by September 20, 2022.
So for a quick summary, huge reduction in Net Loss, but due to non-stop dilution, basically RETAIL is and has been keeping this company/Service 800 afloat.
I've said it 100 times, Service 800 needs to be sold ASAP or shut down as it has now more than proven IT CANNOT GROW IN ANY ENVIROMENT, ANY! Danielle either lied about growth coming in Q2 or she hasn't got a clue, i'm going with #2 another reason to shut this draining division down NOW!
IF the LOI isn't closed by i believe the definitive agreement date of Sept 20/2022 the shares will be returned to BYOC.
Not word mentioned on the Ticker Symbol change or at least from what i read.
In the end, just another Q with decreased Revenues quarter after quarter year after year! Dilution for the moment has stopped, but maybe that's because the pps is .0002/.0003 Discover can only sell at .0003 and above. I don't expect this Q to do much to move the ticker one way or the other... Unless they want it to. GL All
