Reading the first part of NNRX’s second quarter report (income part) that seams to refer to “The Plant” which is NNRX’s current source of revenue, this is my assumption/interpolations. Everyone can form there own that is there right as this one is mine.
Under “Issuer’s Facilities:
The Plant is 60,000sqft, which means the plant building is complete. Note: 30,000 sq ft is most likely used for seed production it is not large enough area for any meaningful product production.
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT:
Shareholders Deficit has only been increased by just $75,880, a small amount in the skim of things.
Revenues have increased by $220,123 over what was done in First Quarter of 2023’, while Cost of Sales has decreased by $10,568 for the same period. Looks to me like "The Plant" is doing better on this stand point. Not as good as I would have like to have seen, but better than what I'm hearing being posted lately.
Gross Profit (Loss) has decreased by $392,122 between the first and second quarters. Which is a plus for the company.
TOTAL OPREATING LOSS for “The Plant” HAS DECREASED BY $1,924,142 between the first and second quarter. Which is a plus for the company
NET LOSS HAS DECREASED BY $ 1,110,226 between the first and second quarters. Which is a plus for the company.
Note: These numbers are for "The Plant" not NNRX as a whole.
As to the Resignations of three of the “The Plant’s” officers as noted below, it appears that they DID NOT meet there required milestones. As a former owner of a company till I retired 10 years ago, I would most likely have fired them. The way I would have done it would be to ask them to resign, in that way they would not have the stigma of being FIRED on there résumés.
"NOTE 13- SUBSEQUENT EVENTS
Officers and Board Members Resignations
during January of 2023, Scharratt Reicher and Mattie Cooper resigned from officer positions. During March of 2023, Clayton
Wiedemann resigned from his officer role. The resignation is related to disagreement over Company shares to be issued following achievement of revenue and profit milestones (see note 1), that have not been achieved. The Company is in settlement discussions with the former officers and believes that an agreement will be reached during May or June."
NOTE: Just as a reminder, “The Plant” is a company owned by NNRX and IS NOT NNRX it’s self. We, or at least Myself have invested in NNRX not the plant. Even if, which is most unlikely, be returned to it's previous owners NNRX would still remain as a SEC stock ticket (our/my shares)
I see nothing that changes my investment in NNRX at this time, knowing full and well that NNRX is a Sub Penny Stock and is a very risky investment in the first place with a potential of large profits in the future.
P.S., AS A SIDE NOTE IF YOU NOTICE THE THREE RESIGNED MEMBERS WERE LISTED AS DIRECTORS.
