So the 3rd quarter financials have been uploaded to EDGAR.
The good news is that all the hard work that Mark and the team have been putting in seems too have paid off. /s
Revenues for the quarter were actually UP year-over-year. From $ 22K in the quarter last year all the way up to...$ 25K in the quarter this year. Sadly, revenues for the 9 month period decreased from 2022 to 2023. But no matter, since revenues here are just an afterthought anyway.
The loss from operations was over $ 500k for the quarter (down from $ 1.2 million in the same quarter last year) and for the 9 months the loss was "only" $ 2.5 million, down from $ 6.6 million in the same period last year.
The company continues to need influxes of cash. There were only $ 37k in current assets ($ 34k of that in cash) while current liabilities were at $ 17.5 million, an increase from last year. Accounts payable alone is $ 1.2 million. The balance sheet also shows that several notes are in default of repayment terms. No surprise there.
The big "no news" is no word on the super duper customer deal that was in the pipeline. The name of that customer was supposed to be revealed months ago, but alas, Mark has proven to be a liar once again. The subsequent events section of the 8K just talks about the issuance of new shares - to pay a consulting bill and to bring in cash (because Mark and his crackerjack team need to get paid or else they might....leave?????).
Another disastrous quarter for a company whose very existence is solely to put money into the pockets of the 3 amigos and, per a prior post, to put money into the pockets of their sons. A true multi-generational scam.
