The SEC released the fact "which was DELIVERED." Read it and my post again below to use the source link for the public information.
"On April 4, 2016, the Commission’s Division of Corporation Finance (“Corporation Finance”) sent a delinquency letter to EXAD requesting compliance with its periodic filing requirements, which was DELIVERED."
There was no press release from EXAD about the delinquency letter in APRIL or anytime after. Would they have needed to release that information? I actually don't know the answer to that. However, there were releases AFTER in JUNE, JULY, and AUGUST about taking control of BDCI Bahamas Development Corporation with Incite Performance Wear and Native Outfitters Apparel. Also releases about and I quote "working with" Wells Fargo regarding financing for the acquisitions. Same executives of both EXAD / BDCI.
My opinion is that very few if any shareholders read through the balance sheets and profit & loss statements of either company. EXAD absorbs the revenue starting July 1st of BDCI as per the release and IT'S FAIR to analyze in these threads. Many of you keep talking about this revenue as the key here. So, last quarter BDCI revenue was $332,000 and cost of goods was $55,000. So, 83% margin / 504% markup in consumer goods ... abnormally tremendous! $455,000 in accounts payable and only $123,000 in net receivables ... upside down! In one year they jump from $0 to $413,000 in long term debt and $0 to $50,000 in other liabilities ... why? We could keep digging here but that's enough to get the point across.
There is a lot going on here. No one will know who/what/why is really happening in its entirety until the regulators detail further. That's the fact versus guessing but it does not feel good in my opinion.
Does anyone have exposure to BDCI which is linked to EXAD also in this thread?
Lol..no proof company did not know..you obviously never had any contact with any government agency. They don't send chain letters or junk mail. Usually delinquent letters or any letters if importance are sent certified. Therefore they can confirm the individual was given proper notice. At very least they are sent to the present address on file. By the time the letter was sent EXAD had already demonstrated a "pattern" of being out of compliance. This was no mistake. It was intentional. So now you can't trust any action or correspondence EXAD has provided because they were not acting in good faith.
I don't know of any connection between old and new CEO but I do know existing CEO formerly of BDCI pumped that stock with paid promotions then went dark. Dumped it. Drove the pps down then out of nowhere announce merger leaving bdci bagholders.
These guys are crooks. Can't compare this situation with others.
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