FOFU trying again to sell shares.
As of OCT 28th 2011 FOFU has not provided a 3Q statement.
Another Awareness campaign this time 200,000 shares were issued for a one day campaign that will be dumped first thing this morning. If you remember last time FOFU dumped first thing and died.
StockGoodies, LLC / G6 Stocks, LLC has been compensated 200,000 free standing shares of common stock for a one day awareness campaign budget to profile FOFU by a third party (Please note we will be free to sell these shares at anytime and may or may not be selling during our awareness campaign.)
This exerpt from the 2Q is as follows: If you look closely you will see they have issued over $500,000 in common stock to officers and related parties. Since is has been six months those shares are now unrestricted. Officers salaries is now over 300K each Q. That is more than the revenue brought in.
At April 30, 2011, we had $48,647 in cash and cash equivalents and our current liabilities consisted of $230,550 in accounts payable and accrued expenses, $369,566 in notes payable and convertible notes, and $617,053 in accrued officer salaries.
For the nine months ended April 30, 2011, net cash used in operating activities was $187,195, inclusive of a $1,476,893 net loss for the nine months ended April 30, 2011. Additional significant factors effecting cash flows from operations were depreciation charges of $14,817, common stock issuances for services totaling $568,182, a loss on settlement of debt in the amount of $271,882, amortization of debt discount totaling $65,198, a change in inventory of $52,291, an increase in accrued officer salaries in the amount of $306,223, and a change in accounts payable and accrued expenses amounting to $6,292.
Cash used in investing activities during the nine months ended April 30, 2011 totaled $2,500, all of which related to the Company’s note receivable from a related party.
Net cash provided by financing activities was $151,500 for the nine months ended April 30, 2011, resulting primarily from proceeds from notes payable in the aggregate amount of $196,500, partially offset by payments on notes payable in the aggregate amount of $45,000.
Risking it all to obtain the reward, necessitates the motivation to succeed.
