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Wednesday, May 08, 2024 4:58:33 PM
Has anyone taken a moment to look at QEDN?
They have no revs and no cash. How did they acquire a controlling block in YLLC?
Liquidity Overview
The accompanying unaudited consolidated financial statements have been prepared assuming that the
Company will continue as a going concern. This contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The Company incurred net losses of $111,093 and $23,675
for the nine month periods ended September 30, 2012 and 2011, respectively. Additionally, the Company
has experienced net losses for the past six years.
At September 30, 2012 the Company had $288 cash on hand, a deficit working capital of $3,243,334 and
an accumulated deficit of $4,650,800. Accordingly, the Company has limited liquidity and access to capital. The Company has insufficient
liquidity to fund its operations for the next twelve months or less. In addition, any of the following factors
could result in insufficient capital to fund the Company’s operations for a period significantly shorter than twelve months
Then, other JVs they supposedly had were mentioned.
Sofame Energy, Inc.
StockProfile.com
Kyrzyg Alumina
AFON 2010 Ltd
Kuma Oil
It didn't take long to realize there wasn't anything to trade or invest in.
I started out questioning how they "acquired" controlling interest in YLLC and what the purchase price or terms were when they don't seem to have any cash.
Then, I questioned why they'd even want YLLC.
Now, I question whether QEDN is a real company.
Sofame revoked in Nevada. Can't do business if you're not incorporated.
This was all in 2013. Not much has changed.
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
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