Informative 10-Q , mostly for shorters ...
IOO , totally confirms/explains why 3D is now -1D ,
and down ~90% in the last year. We expect BK within 1 more.
Here's why [as reported in the latest 10-Q] :
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3DIcon CORPORATION
(A Development Stage Company)
BALANCE SHEETS
September 30, 2008 and December 31, 2007
September 30, 2008 (Unaudited) ; December 31, 2007 (Audited)
Assets
Current assets:
Cash $ 123,186 $ 705,519
Accounts receivable 3,500 -
Prepaid insurance 24,727 15,944
Total current assets 151,413 721,463
Property and equipment, net 28,022 11,832
Debt issue costs, net 67,046 97,249
Deposit-other 2,315 -
Total assets $ 248,796 $ 830,544
Liabilities and Stockholders' Deficiency
Current liabilities:
Current maturities of
convertible debentures payable $ 590,000 $ 700,000
Accounts payable 1,007,778 484,513
Accrued salaries 36,976 -
Accrued interest on debentures 8,845 8,854
Total current liabilities 1,643,599 1,193,367
Convertible debentures payable,
less current maturities 676,979 558,375
Total liabilities 2,320,578 1,751,742
Stockholders' deficiency:
Common stock; $.0002 par, 250,000,000 shares authorized and
145,496,328 and 127,125,232 shares issued and outstanding at
September 30, 2008 and December 31, 2007,
respectively 29,099 25,425
Additional paid-in capital 8,143,073 6,451,906
Deficit accumulated
during development stage (10,243,954 ) (7,398,529 )
Total stockholders' deficiency (2,071,782 ) (921,198 )
Total liabilities and stockholders' deficiency $ 248,796 $ 830,544
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IOO , the 10-Q shows that 3D is ~out of cash ,
and still burning cash , faster than ever ,
thanks to the 2 new exec's salaries + bonuses.
extra , Sincerely .
P.S. ; Since 3D has no 'products' to sell , to cover their
growing expenses + losses ; they Must Dilute [faster than
ever] , or go BK , if the averaging-down does not pick up.
