CarbonMeta Technologies Inc (COWI)

[1manband]

COWI is insolvent based on their own SEC filings.

Besides being overdrawn at the bank and bouncing checks, they state this in their most recent 10-Q:

The Company has a working capital deficit of $24,796,865 and $24,786,737 as of September 30, 2023 and December 31, 2022, respectively. The Company has accumulated deficits of $64,427,436 and $64,003,956 as of September 30, 2023 and December 31, 2022, respectively. Additionally, the Company is in default of substantially all of its debt and other obligations (see Notes G, I, J and L)."

Massive working capital deficit and in default on "substantially all" of its debt and liabilities. They can't pay anyone. That is the definition of insolvent. And it is not getting better, but worse. Every day COWI racks up over $3,300 in interest charges on their toxic debt. EVERY SINGLE DAY. COWI can't cover that, and they can't hire enough people to pump the stock enough to find buyers to sell stock to cover it. EVERY SINGLE DAY. The only way COWI was able to keep the lights on and file this 10-Q was by borrowing almost $100K from their former subsidiary.

So what are they going to do next quarter? Or is that when Lloyd again goes dark?