So where did the cash from the last few financings go ?......lol.
$120,000 in late Feb. $320,000 in late March Not to mention the $200,000 they got from Pak It in Feb.
$640,000 in less than two months and they have no money ?
Something smells rotten in Niagara.
LMFAO.
Management estimates that the repair of the processors will require the expenditure of between $175,000 and $200,000. At June 3, 2014, we lacked the working capital or access to bank credit to make these repairs.
Well I guess my often repeated question about when they were going to 8K the shutdown of production has been answered. NEVER, scumbags just shut their mouths up instead of reporting serious material events. Never surprises me how dishonest and outright scammy the company and its leaders are.