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uvaphd

08/19/19 10:53 AM

#91983 RE: PIGEON RIVER PROSPECTIN,TN #91982

Thanks—I found it: had been looking for a PR...

uvaphd

08/19/19 11:19 AM

#91984 RE: PIGEON RIVER PROSPECTIN,TN #91982

About a year ago, several here determined that the kits likely cost $400 each and sold for $1600. If correct, they sold 48 kits in the Q ended 6/30: $19,200 (most recently reported COGS) / $400= 48.

Another interesting tidbit (from Note 3, p. 7):

“NOTE 3 – RELATED PARTY TRANSACTIONS

The Company has incurred a monetary obligation to a related corporation to reimburse the cost of services provided to the Company (management and consulting) through March 31, 2020. Each of the Company’s executive officers is employed by the parent company, CMH, and will continue to receive his or her salary or compensation from CMH. The Company has an agreement with CMH which obligates the Company to reimburse CMH $45,000 per month for such services. The compensation paid by CMH will include an allocation of services performed for CMH and for the Company. The amounts are presented as a “management fee payable - related party” on the accompanying unaudited condensed consolidated balance sheets. The liability is non-interest bearing, unsecured, and will be due upon the Company successfully raising at least $1,000,000 through the sale of equity. At the option of CMH, the reimbursable amounts set forth in the Agreement may be paid from time to time in shares of common stock of the Company at a price equal to a 30% discount to the lowest closing price during the 20 trading days prior to time the notice is given. The Agreement may be terminated by either party upon 30 days’ prior written notice. As of June 30, 2019, amounts due to CMH under the arrangement were $18,082.”

How likely is it that the principals would agree to work under these terms if they didn’t believe strongly in the legitimacy and future value of CELZ? Doesn’t seem likely AT ALL.