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I-Glow

09/15/17 5:21 PM

#32745 RE: Luckybstrd #32744

The 10-K is pretty dismal.

The CEO has obtained a great deal more toxic debt - look under Subsequent Events. The CEO obtained another $297,000 in toxic debt.

The Revenue from the $1.1 million Bethel contract is nowhere to be found.

"We currently have minimal cash reserves. To date, the Company has covered operating deficits primarily through loans from the sole director, and third-party loans which if not paid with interest are convertible to the Company’s common stock. Accordingly, our ability to pursue our plan of operations is contingent on our being able to obtain funding for the development, marketing and commercialization of our products and services. However, as a result of its lack of operating success, the Company may not be able to raise additional funding to cover operating deficits."

Revenue $144,507
Cost of goods sold $303,340

Just the COGS are greater than the Revenue.

It looks like the CEO will have to amend this 10-K as there isn't any continuity between the Q3 and Q4.

I will go over the financials much closer at some point.

IG