USRM ON TARGET FOR MASSIVE LOSSES IN 2017..uh..oh....
Just looking at the past SEC FILED 10-K ANNUAL REPORTS, looks like USRM, this here penny POS special, is about to REPORT A LOSS THAT MIGHT BE THEIR LARGEST IN THE PAST 5 YEARS OR SO...based on how bad their financial situation was in the 3rd Qtr, as reported in the most recent SEC 10-Q....
They're a GOING CONCERN AND LIQUIDITY WARNING and "revenues" haven't amounted to jack sh$%t...just went to LARGER BASE PAY INCREASES for Tomas and Comella along with LARGE "CASH BONUSES" to the "TWO"..who such out most of the cash this near cash broke little train wreck has at any given time...almost $2 MILLION ANNUAL goes just to "THE TWO" and they only have a few employees at the entire "company" and spend almost NOTHING on R&D..a total bigger farce...IMO....
Look at the LOSSES from their last ANNUAL FILINGS and then look at the 9 month LOSS TO DATE for 2017...and it looks like their SEC 10-K IS GONNA BE ANOTHER EPIC TRAIN WRECK and certainly still a GOING CONCERN and LIQUIDITY WARNING...guaranteed on that...
LOSSES FROM SEC 10-K FILINGS going back 5 years and the 9 month LOSS TO SEPT 30th of 2017...looks like they're in for another EPIC HUGE FINANCIAL LOSS and thus more borrowing or "other" means for survival cash will be needed....
Parenthesis in financial statements of course mean LOSSES:
2017: As of Sept 30th 2017 had MASSIVE LOSS OF (3,828,368)
SO....as of 3 months ago...they were already gonna LOSE CLOSE TO $4 MILLION LARGE in 2017....and that's more than in the past 4 yrs of SEC filings...the biz is still a massive, massive train wreck and failure....THEY MAKE NO MONEY, NO PROFITS and TAKE MASSIVE LOSSES despite endless dilution and high interest borrowing and now selling-off the few assets they HAD, PAST TENSE, etc
2016: (2,070,386)
2015: (1,641,880)
2014: (2,253,511)
2013: (3,143,259)
2012: (4,016,467)
LOOK AT THAT, they hadn't reported close to a $4 MILLION LOSS since clear back in 2012...but are on-target for one in this upcoming SEC 10-K. JUST LOOKS B A D, BAD if you ask me....nothing is improving...and now they got likely MASSIVE LEGAL BILLS as they "try" and defend against the FDA via hiring some mega-bucks "BIG DC LAW FIRM" after getting spanked with a big ole, deadly serious WARNING LETTER and multiple rounds of 483 WARNINGS...
None of which Commella or USRM have heeded or corrected...which of course will IMO, lead to a NEXT LEVEL FDA ENFORCEMENT ACTION...probably a court INJUNCTION or similar...which will probably just about nail the coffin shut on this POS if you ask me....FIGHTING THE FEDS WILL BK THIS LITTLE GNAT ON THE WINDSHIELD OF THE FEDS....USRM is blip to the Federal Govt and they be spitting in the eye of the FDA...which I'm sure Commissioner Gottlieb doesn't take kindly...after making numerous public statements he's gonna "GO AFTER THE UNSCRUPULOUS and the BAD ACTORS"...and happens to state that in the context of Comella and BLINDED LADIES and all the other fiascos like cGMP violations and ATTEMPTING TO IMPEDE A FEDERAL INVESTIGATION...
"NOTE 2 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS
The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements during nine months ended September 30, 2017, the Company incurred net losses of $3,828,368 and has a working capital deficit (current liabilities in excess of current assets) of $5,304,333. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.
The Company’s primary source of operating funds in 2016 and 2017 has been from revenue generated from sales and cash proceeds from the sale of common stock and the issuance of convertible and other debt. The Company has experienced net losses and negative cash flows from operations since inception, but expects these conditions to improve in 2018 and beyond as it develops its business model. The Company has stockholders’ deficiencies at September 30, 2017 and requires additional financing to fund future operations."
THEY DO NOT "MAKE IT" as a biz w/o FURTHER FINANCING...says so right there...and they're a 6 CENT POS...so how they gonna get "financing" now...even GACP "TERMINATED" their supposed "$5 million investment" and bailed on this mess....after the FDA smacked um with that FORMAL WARNING LETTER....they're a hot potato...who the H is gonna "finance" some firm that's in deep troubles with the FEDERAL GOVERNMENT....MAKES NO SENSE TO ME...????? (well, actually it makes total sense to me, LOL !!)
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