It won't be delayed indefinitely, so you'll be wrong there. Regarding generating no revs, I'd interepret that as "currently" none as of the day of the filing.
It also states the co. is in the process of obtaining (phrase underlined) all of the outstanding shares of the company. Further since talking about debt, one, that's mostly assumed debt from 2006 inception to now. Two, he also assumed the 1mil+ net operating loss carry forward tax benefits, assuming future revenues n profits. Good thing there for the co. and shareholders once profits (if) are generated.
3, most companies have Long term debt like that that exceeds current assets and revs. I know cuz I worked for a $500mil company with 1bil plus in LTD from loans of notes not due for years (terms were always extended), that reported EBIT well below that 1bil debt, yet reported A/L on plus side and traded $5-10 a share the 7 yrs I worked there. You guys do understand financial reporting and how companies operate right? Somebody always owes somebody unless your Google or some giant conglomerate lol. Granted penny stocks are always "concerned about their ability to be an ongoing business" that is a boilerplate statement and a cya statement, nothing unique there. I forgot also that Joel is financing the operations out of his own pocket (see Related Party Transactions). Good to see he ain't hurting for funds...oops blows that BS blah blah blah angle about getting rich off of "bagholders" imo lol.
I could go on but I'm sure you get the drift.
Hell, it's a penny stock after all. 99% of The language in these reports is boilerplate stuff. Keep on keeping on fellas. I am going to wait it out as long as I need to. Enjoy your weekends!
Blah blah blah lol.
All IMFO
Oh one thing, you will likely know that I can't respond to any post today since I'm limited to one, so I can always retort tomorrow or some other date. In the event I think of anything else to counter or simply point out. Laters lol
News 
Market Data 
Discover 
AI
