I’m not say she’s right, but no one know how many sales have been made. It’s all coming from Rich, including his fin filings. There’s no way one verifying anything he says. So it could all be BS to sell shares.
It could also be a legit company that has done $300K + $190K + $260K or $750K so far this year. F he did another $500M in 4th qtr, at 2X Sales, that’s a Company worth $2.25M. If a buyer offered that and Richie accepted, 51% of that goes to ICNB or $1.14M. Take OS and add debtor shares plus 120M just issued this month, you get 1.577B (Plus warrants). So let’s assume 1.6B all toll. Now just before RIchie signs buyout, he’ll convert his Pref Ds (because he’s not stupid) and total shares will be 3.2B.
Now take $1.14M and divide by 3.2B and shareholders will receive less than $.0004/Share. When RIchie reports 4th qtr or dilutes some more, the valuation can be redone.
For example, suppose he does $3M in 4th qtr. That’s $4.75M. Let’s go to 5X Sales because of obvious growth instead of 2. Company worth now $24M. If we further assume, that no more dilution from expenses will occur (should be profitable enough unless he takes out his “deferred salary”, in which case, it may not be), $24M / 3.2B = $.0075/Share.
We are trading now at slightly below the best case scenario. It’s overvalued. Now you know another reason price is stalling. It’s trading on unproven numbers.
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