Over the course of approx. 2 years of watching them, there has been several questionable issues.
In no particular order:
The announcement of a loan with Chase, then they said it was a misunderstanding
The unannounced unit recall
The share purchase agreement with Lucky, LLC
The nobody CFO who connected them with shady Doheny then quit just a year later with a boatload of shares and a severance package
The reluctant Doheny to take on a preferred placement
The announcement of a share reduction that hasn't happened yet
And now, what appears to be a typo in the 10-Q which inflates income or, deflates expenses (however you look at it) by approx. $530k
Here's the breakdown:
They reported ZERO (0) general and administration expenses
THEN
They SUBTRACTED $389k (the entire ammout they spent) from the zero general and administration charges.
It should read as a positive number which would jive with the est. $100k extra which would leave $289k they spent on G&A which would be right on target for the quarter.
Watch, they'll come back and say it was an error that it should of been a positive number. All they have to do is file a 10-Q/A.
I grew up with a neighbor who was my best friend from before school to our early twenties. This kid was an incredible athlete with scholarship offers starting in middle school for football and a knack for business like you've never seen but, he was a compulsive liar with sociopathic behavior. Needless to say, he never made anything of himself, blew every college offer, spent the profits from his businesses faster than they came in, then resorted to just conning what he could and spent it like no tomorrow. No matter what he did, whoever he talked to, or whatever, he constantly lied and would steal then would lie again when he got busted. He was absolutely the worst thief and liar but he couldn't help himself. As his friend for so long, he trusted me with his problem and I was probably the only person he couldn't lie to or steal from and get away with it. Long story short, after many painful conversations many years ago I stopped talking to him. Then I found out through a few years ago he was arrested by the FBI for financial fraud in the 8 digit range and a few other charges, doing like a 10 year sentence.
Reason I tell this story, is because when I read the 10-Q the other day, I got the same feeling that one of the people behind B&D is of the same nature as my old sociopathic best fried doing a dime and who I haven't wanted to talk to in over twenty years.
But like I said over on their board, I could be wrong, I hope I'm wrong, but... the numbers just don't add up. Plus I emailed them and they got right back in like 5 minutes just quoting the PR, then I emailed them right back and asked why the G&A column is reading as a credit.... two days ago, I've yet to hear from them.
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