Thursday, July 18, 2013 3:44:02 PM
The question that we should be asking of our management is where will the new capital come from to invest in VSTA when all of the "profits" in the accounting period reported in the compilation are tied up?
The bottom line is that the accountant said that everything reported by the company prior to January 2012 was incorrect.
The accumulated retained earnings was wiped out and now is in fact negative.
All of the previous OTC filings of financings, revenues and after tax profits were a misrepresentation.
If the company had no cash prior to the period and what they made during the period was untouchable then how, in good faith, can our management make an offer when they had no cash to do so.
The accountant went on to say that there were no material events subsequent to report being issued.
No year end 2012 statement has been issued or even a part year 2013.
So, did BGMO make any money?
Did they millions of dollars through equity issues to fund the purchase of VSTA?
I am seeing my $ 9k investment dwindle to nothing. I hope that someone can turn this around.
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