I really can't believe someone can post this totally out of context, putting it together with a sentence that refers to the whole company, when that comment refers to Discontinued Operations:
The whole quote should have been the following:
This actually is great news too, getting rid of previous operations.
On the other hand, yes the company lost $3,083,478 in the fiscal year, but here is why:
Revenue 5,802,037 Cost of revenue 5,053,453 Total Operating Expenses 1,659,082 Operating (loss) income -910,498 Interest expense -320,527 Loss on settlement of acc payable and conv debt/Other -914,353 Default principal increase on convertible notes payable -938,100 Loss from continuing operations -3,083,478
The Operating loss was only $910,498 of the total and there were two events that are not going to repeat, related to the previous toxic debt and its settlement (also great news) that totaled almost 2 million dollars. And keeps getting better, a substantial part of those losses are going to be credited in following financial reports as stated by the company, which means more income. Also interests are going to be lower.
I also subtracted the 3Q from the whole year income statement and what I found is the following for the 4Q alone:
Revenue 2,196,148 Cost of revenue 1,941,451 Total Operating Expenses 560,037 Operating (loss) income -305,340 Interest expense -142,448 Loss on settlement of acc payable and conv debt/Other -655,077 Default principal increase on convertible notes payable -144,773 Loss from continuing operations -1,247,638
One time events mentioned above and higher interests again affecting results, but the operating loss was just $305,340, so we are just starting and already almost profitable.
Wait for the 1Q report and other PRs coming in the following days or hours and you will see what Will happen to the share price.
Finally those comments about going concern are standard and normal disclosures for companies that are starting, is a legal requirement.
Sorry for the long post, but I cannot stay quiet when I read posts like this. I hope this gives more clarity to the new investors, the ones watching on the sidelines and any doubters.
This is going to be much bigger than we all think.