The hype of rump groupies who apparently front run for insiders and serious players.
The hype of a mid western "billionaire".
The facts show,.... In the SEC filings, there's no mention of a investor worth billions. This "billion dollar" hype is all message board bull straight from the mouths of penny stock hustlers.
Google this.... C&H Capital Engaged To Assist.
The AUGT.OB filings with the SEC only mention a "sophisticated" mid west investor dropping a mill or two on freshly printed AUGT.OB script.
Obviously the mid western guy bought when it was still named Modavox and didn't read too deep into the facts files with the SEC....
BOOYAH!
Augme Technologies - AUGT.OB
formerly: INNERSPACE CORP (filings through 2003-07-30)
formerly: SURFNET MEDIA GROUP INC (filings through 2005-10-17))
formerly: MODAVOX INC (filings through 2010-03-19)
ITEM 1A. RISK FACTORS
You should carefully consider the risks described below together with all of the other information included in this report before making an investment decision with regard to our securities. The statements contained in or incorporated into this offering that are not historic facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. If any of the following risks actually occurs, our business, financial condition or results of operations could be harmed. In that case, the trading price of our common stock could decline, and you may lose all or part of your investment.
We have a history of losses and negative cash flows from operations and we may not be profitable in the future.
We had a loss of $1,736,510 for the quarter ended May 31, 2010, a loss of $8,378,499 for the fiscal year ended February 28, 2010, and a loss of $5,325,510 for the fiscal year ended February 28, 2009. We had an accumulated deficit at May 31, 2010 of $29,211,078. Our ability to generate positive cash flows from operations and net income is dependent, among other things, on the acceptance of our products in the marketplace, market conditions, cost control, and our ability to raise capital on acceptable terms. The financial statements included elsewhere in this document do not include any adjustments that might result from the outcome of these uncertainties. Furthermore, developing and expanding our business will require significant additional capital and other expenditures. Accordingly, if we are not able to increase our revenue, then we may never achieve or sustain profitability.
We have been able to meet our operating requirements since May 31, 2010 and received approximately $125,000 of additional financing. We will need to receive additional capital to continue our operations.
Financing may not be available to us on commercially reasonable terms, if at all. There is no assurance that we will be successful in raising additional capital or that the proceeds of any future financings will be sufficient to meet our future capital needs. It is not likely that we will be able to continue our business without additional financing. Currently, we have no commitments for additional financing.
We may become involved with litigation.
We may be subject to claims involving how we conduct our business or the market for or issuance of the Common Stock or other securities. Any such claims against the Company may affect our business, results of operations and financial conditions. Such claims, including those without merit, could require us to pay damages or settlement amounts and would require a substantial amount of time and attention from our senior management as well as considerable legal expenses.
