Absolutely 0 sales of product and nothing could have been delivered to Gulf Coast without it shown as revenue according to GAAP rules.
So that was another bogus PR.
Evidently Gary is planning on pleading stupidity and it is his consultants fault.
So how much professional service money did Gary and Sharon take to talk to themselves?
""Results of Operations
Due to our continued lack of funds, our operations are very limited. As a result, we realized no revenue during the three months ended June 30, 2011.
The largest expenses during the three months ended June 30, 2011 were for consulting services. The expense related to consulting services was $411,051 for the three months ended June 30, 2011, which totaled $1,955,889 for the period since inception (6/17/2009) to June 30, 2011. The majority of the consultants are being paid through the issuance of common stock. Such consulting services include, but are not limited to accounting, legal, business development, SEC reporting, investor relations and mergers and acquisitions. Our executive officers received $10,334 during the three months ended June 30, 2011 and are obligated to receive an additional $77,266 based on the terms of their contracts with the Company. Additionally, the Company had expensed $58,400 during the first quarter of the 2012 fiscal year related to 60 shares of preferred stock that was issued to our executive officers in the fiscal year 2011. The Company has issued during the three months ended June 30, 2011, 40,000,000 shares of common stock related to $56,200 of consulting services rendered during the three months ended June 30, 2011 and $30,000 of services to be rendered within the current fiscal year. The Company is obligated to issue 171,803,622 shares of common stock in the next twelve months. The common stock the Company is obligated to issue is related to $400,000 of services rendered during the fiscal year 2011 and $53,675 during the three months ended June 30, 2011 and $200,391 of services to be rendered in the future.
We realized a net loss of $456,601 for the three months ended June 30, 2011. During the period from inception to June 30, 2011, we realized a retained deficit of $2,956,825, primarily due to operating losses of $2,207,736 and a loss of $759,590 due to recapitalization expenses during the period from inception to June 30, 2011. ""
Gonna make a difference !
