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Re: protouch post# 8694

Thursday, 05/15/2008 11:34:40 AM

Thursday, May 15, 2008 11:34:40 AM

Post# of 8740
Sequiam takeover company BMRX release horrific financials for 1st quarter 2008.

Cash in Bank: $622.00

Sales for quarter: $2,743.00 (my daughter sold more Girl Scout cookies than that!!!!)LMAO

Loss for quarter: $1,436,262

Dilution from previous year quarter:100%

Unlike the lies in BMRX PR a day campaign NO SQUM executive is an employee or officer of BMRX. Heard that Barrow was livid when he found out about press release. Henderson and Barrow not employees of BMRX.

Sequiam financials 10 times better than this BMRX 10Q when Sequiam went into bankruptcy. By this statement in BMRX financial just released looks like the will be needing Basile's bankruptcy experience very soon.

From BMRX 10Q today:
"The Company has incurred a net operating loss of $1,436,262 for the three months ended March 31, 2008 and has a working capital deficit of $4,011,505 at March 31, 2008. The Company’s ability to generate revenues continues to be impeded by the limitation of capital necessary to manufacture products despite having substantial purchase orders. The Company’s net cash used in operations during this quarter was $112,477. The Company though optimistic about internally generating cash flow sufficient to meet recurring expenses remains dependent upon raising additional capital These factors raise substantial doubt about the Company’s ability to continue as a going concern, though the Company has raised additional funds.


There can be no assurance that sufficient funds will be generated during the next year or thereafter from operations or that funds will be available from external sources as debt or equity financings or other potential sources. The lack of additional capital could force the Company to curtail or cease operations and would, therefore, have an adverse effect on its business. Furthermore, there can be no assurance that any such required funds, if available, will be available on attractive terms or that they will not have significant dilutive effect on the Company’s existing stockholders."


OUCH, GLAD I AM NOT LONG BMRX!!!!


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