Saddle Ranch Media Inc (SRMX)

[facts_matter14]

Oops! The devil in the details is baaaaad! Let’s see the bag holders address this.

Cash on hand as of 12-31-23, is $165,000, and sales appear to be over $118,000 in Q4, with a 94% Gross Margin.

Sounds great, right?

Oh no, here come FACTS:

Wen-Shone loaned POSRMX $200,000 in the final 2 months of 2023.

Cash on hand at end of 2023 was $165,000.

Do the math and see that POSRMX burned through $35,000 of the $200,000, while allegedly bringing in Gross Profit of over $100,000 in the last 3 months of 2023.

Then look at the Subsequent Events and see that POSRMX got an additional $250,000 from Wen-Shone between 1-1-24 and 3-26-24.

So, where did the $165,000 cash on hand go, in order to necessitate an additional infusion of $250,000??

That’s $450,000 in loans in less than 5 months.

If it smells like 💩 and looks like 💩 then it’s 💩