laughable! facts about transit contracts non-performance terminations
the company's transit revenue was higher during Covid years 2020 and 2021 than pre-Covid years 2019
don't try and fool anyone using Covid as an excuse, here's why.
*******fact: 2020 and 2021 Covid annual filings show company applied for and received 66K of Covid Payroll Protection for the years 2020 and 2021 to support a supposed 5 employee (requiring W-2's) staff (see online government site for PPP data by company name). Hope that gets investigated if not already.
*******fact: from pre-Covid 2018 to 2019 transit revenue dropped from 276K to 150K (see 2019 10-K filing). LMAO!
*******fact: only 1 employee was on the payroll (see filings) during the period of Dec 2019 thru December 2021. Ceo was deferring his salary because the mystery 550K of 2019 SG&A candy jar must have sufficed.
*******fact: pre-Covid filings show company only had approximately 3 or 4 customers accounting for 75-80% of the transit revenue before Covid. LMAO!
******fact: 88K revenue increase in year 2 Covid 2021 (377K) than year 1 Covid 2020 (289K). Doesn't look like much more damage was done?????? Peanuts, but it was something to pay the bills until the company couldn't perform on its contract to meet the revenue and performance requirements. LMAO!
******fact: company blew 260K loan on Chinese shelters in 2016 to install as part of a contract (see filings) and they were still rotting away, for sale on tweetBay, as of July 2022.
******fact: Company stills owes every penny of the 260K private loan pissed away on junk chinese shelters you could probably now buy for .10 cents on the dollar out on the Nj UPS store (corporate office address) curb. LMAO!
we've seen the excuse machine at work for too long.....
- Mexico's government unrest excuse (Durango solar farm), then the permitting stage went away and then the supposed identified funding source went away. (despite meeting with location officials and surveys done) LMAO
- Australia feedstocks ended up being the partners supposedly dropping the ball excuse. (despite tweet stating 2 locations have been "identified" as of July 2022) LMAO
- 19 Medrecycler franchise states identified (see July 2022 tweets) that were supposedly new advanced recycling technology, but then the excuse machine says the Ri bond partner only wanted to invest in Ri (that excuse was never mentioned anywhere else but ihub)??? LMAO!
- Elba, AL property purchase excuse is now something was wrong with the property? (meanwhile another co. just leased 47K of 200K of sq. ft and still no executed agreement anywhere in sight). LMAO!!
and on and on and on......
my opinions are just that
good luck
Bearish
