Replies to post #69538 on Viva Entertainment Group Inc (OTTV)

[whitie]

I get it. No worries. The 15 million is losses from operations not necessarily debt. And for startups once we show a profits we can use these loses overtime to offset profits thus lowering out tax liability.
JF posted a spreadsheet awhile back that showed in detail how the toxic lenders are being paid off and notes renegotiated. The dilution speak of, and let's not kid ourselves their has been both note holders cashing in and the company hopefully bank rolling to pay for coming Ad campaigns. But if you believe in recurring revenue business models as I do it will allow the company the grow exponentially in the early years without in our case huge demands in overhead to implement our solution. By partnering and signing up Dealers and creating a distribution network we incur very little selling expense. Plus you multiply your selling efforts a 1000 fold. So if all us kings have not been feed a line of BS from JF and the launch happens and we get early reports of subs coming in, then there will be so much hype on the ticket that 3 $$$ is not out of the question in a very short period of time. Of course their is the other side of this argument.

[powerbattles]

Many people when they view company financial statement with assumption Accumulated deficit ($ 15,379,41 ) is overhanging debt

OVER HANGING DEBT THAT STATEMENT CAN SCARE MANY PEOPLE AWAY.

That presentation is inaccurate, misleading to others. Matter of fact they are about to finish their last note conversion and become DEBT FREE. Everyone needs to fully understand that. Let me repeat it again they are about to become DEBT=FREE.

Accumulated deficit ($ 15,379,41 ) this is extremely considered a GREAT NEWS.

First, let me explain what is Accumulated deficit?

When a business generated more net losses than profits over the life of the business, it has negative retained earnings, which it reports as an accumulated deficit. It may be called accumulated losses, retained losses or retained earnings. Retained earnings are reported in the shareholders' equity section of the corporation's balance sheet.

Accumulated deficit is tax benefit that allows them to deduct tax on future profits. (tax write-off.) and that can carry forward the fiscal year to the next fiscal year by using the SAP standard carry forward.

Accumulated deficit ($ 15,379,410 ) where this amount is coming from?

1 - An accumulated deficit that is accumulated from the Company received forgiveness of stock payable of $3,390,000 and amounts due to former CEO.

From 10-Q

NOTE 3 – RELATED PARTY TRANSACTIONS
"In connection with the acquisition of Viva Entertainment and the resignation of our former officers and directors, the Company received forgiveness of stock payable of $3,390,000 and amounts due to former CEO of $132,854. These amounts were written off prior to closing and have therefore not been included in Equity. However, the former CEO funded an additional $30,000 to the Company for working capital during the year ended October 31, 2016.

1- Forgiveness payable of $3,390,000

2 - Future paid retained earning (WAGE) $8,887,291

3 - Accrued Salary and Wages $ 329,840

4 - Accounts Payable and Accrued Liabilities 263,549

5 - Total other expense (1,130,256 )

6 - General and administrative $576,085

7 - Consulting services $ 576,085

And a few more items consider the business expense. As you see the biggest amount is future WAGE and forgiveness all these are Condensed Statements of Operations. Now is become TAX WRITE OFF.

It's nothing for you to concerns or worries. Retaining earnings by a company increases the company's shareholder equity, which increases the value of each shareholder's shareholding.