"OBJ Enterprises (OTCBB: OBJE) President and CEO Paul Watson issued the following open letter to shareholders today celebrating the company’s achievements in 2012...."
Let's see....achievments in 2012:
Outstanding shares (pre-split) increased from 13 to 29.3 million (an increase of over 125%)
Share price dropped from $14.40 to $1.42 (a drop of over 90%)
The company exercised a 40:1 Reverse Split.
Assets dropped from $47k to $11k (a 76% drop in assets)
As of May 31, 2012, the Company has negative working capital of $223,801
The Company incurred interest expense of $248,618 during the nine months ended May 31, 2012
The Company has yet to generate any revenues from their business operations
The Company has gone from Euro-Trash Jeans to iphone apps to gaming systems (translated - they have no focus).
The one shining achievement for OBJED is that they did not get suspended by the SEC (unlike sister companies ONYX, GSLO, EHSI, EVSO, SSLR, CYGX, and GAEC)
