Tbronk, the Q3 financials aren't exactly pretty...
Unfortunately, as the year has gone on, the revenue stream seems to have declined. Only $152k in Q3 puts them behind pace to reach last year's target of $2mm in revenues, and not sure if Q4 is ahead/behind schedule. After Q2 they had an outside shot to do it, but seems unlikely at this point.
Looks like they issued another 67mm shares to cancel $30k in debt, which brings the outstanding to 386mm shares. The positive is, there are only 114mm shares to issue before they have to increase the authorized amount. (If you can call that a positive) The shares issued for debt cancellation equates to a price of $.000447, so barring a miracle, doesn't look like the stock is moving up anytime soon unless those shares issued are restricted.
PRG Group has to make a decision: Current revenues don't support this share structure, and obviously obtaining financing outside of paying shares hasn't happened. They can either increase the share structure in the hope of attracting new financing, generate more revenues to increase share price, or even pay for awareness for the company, but at this point, we definitely need a PR from the company to talk progress toward goals, potential new business, etc. It's been quiet for WAY too long.
GLTA!
AI
