Coast to Coast Podiatry is a private corporation registered to Mr. and Mrs. Otiko. They use the same office address as ViaDerma Licensing, a public corporation.
ViaDerma pays $10,000 per year for this space. Who receives the rent check?
Coast to Coast is likely the main contributor to ViaDerma revenues.
Otiko issued a news release a year ago announcing Coast to Coast as a Distributor. He did not disclose that he and his wife ARE Coast to Coast.
The SG&A budget shows ~50k per quarter. I am certain the Otiko's, as Directors, along with brother Manny, are pulling a salary.
This has been going on since ViaDerma became a public entity in 2014, soon after the Otiko's married.
The Annual Report will likely show a loss, and about a 200M increase in unrestricted shares. We don't know if shares were used to pay the six-figure debt noted in the last Q's. Where did the shareholder money go in the past year?
Q1 2017 will show an increase of ~20-30M shares outstanding, the Float, and a few million coming off restriction. There will probably be no revenue in Q1 other than what Coast to Coast may pay to ViaDerma.
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