Replies to post #36809 on Bitzio, Inc. (fka BTZO)

[TheGoldenGoosey]

Let's hear your opinion on this liner. **ALL FROM BTZOS 10Q***

Working capital requirements are expected to increase as a result of our anticipated growth, both organically and through future acquisitions. Accordingly, we will be working aggressively to secure sources of financing.


this one.

Management’s plan is to seek equity and/or debt financing. However management cannot provide any assurances that we will be successful in accomplishing any of our plans



Lastly,

For the three months ended September 30, 2015, we had revenues of $117,549, compared to $207,804 for the three months ended September 30, 2014. Sales decreased in 2015, mainly due to declining orders from our top customer, and lack of capital to boost sales.

But out of nowhere, we have no capital to boost sales. BUT WAIT, How did we find this loan?!?!?

On September 30, 2015, the Company borrowed $66,000 through a promissory note from a third party bearing 6% interest, with a 50% debt discount and a maturity of 5 years. As of September 30, 2015, the Company had principal outstanding in the promissory note of $66,000, and accrued interest of $11. $452 of the debt discount was amortized during nine months ended September 30, 2015.

On September 30, 2015, the Company borrowed $11,999 through a promissory note from a third party bearing 6% interest, with a 50% debt discount and a maturity of 5 years. As of September 30, 2015, the Company had principal outstanding in the promissory note of $11,999, and accrued interest of $2. $82 of the debt discount was amortized during nine months ended September 30, 2015.