Thursday, August 09, 2012 12:14:56 PM
the personal atm thing is easy - just read his 10-Q's.....after operating and selling expenses, he has a third called "general and admin expenses - other" which for example in Q1 2012 was $188,000....that equates to over $2,000/day each and every day of the quarter....as he has no employees to speak of and pays $1,100/month in rent.....add to that all of the convertible financing + the $2.5 million from TCA global......he enjoys very nice revs and has very low expenses....so where is all of that money going?
where's the contradiction? he can't even come close to explaining the vast amounts of cash he burns through, the ridiculous amount of notes he still has out, up until recently he had a stack of credit cards some of which were at 24%, was actually overdrawn on his checking account one quarter recently, and just look at the meteoric rise in shares in just the last 90 days with the toxic notes converting monthly ... O/S almost doubling, and these note conversions extend well into the future.
beware of the pump it will leave you in the dump
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