portlander10-
the numbers that eztradin plays with are interesting indeed; some questions if you can take them.
1) Where was the $500K average per normal mine drawn from? Guess, or company issued?
2) Where did the 'over $20M' in development costs come from?
3) According to the LOI:
"YongAn will provide funding of up to $50 million to the JV, and over two acres (10,000 square meters) of land to build and outfit a world-class manufacturing facility in Jiaozuo city, Henan. CCII will provide the JV with professional services including product certification, sales and marketing, technical support, and market intelligence. iPackets will provide the JV with its technology intellectual property as an asset to be utilized for the China market only, continued product development, technology direction, and technical knowledge transfer."
It sounds like iPackets is licensing its technology to the JV, and letting them pick up the bulk of the tab for it; if that's so, is a 25% cut reasonable, or optimistic?
Also - the LOI discusses BUILDING a world class manufacturing facility - that can't happen overnight. Realistically, IMO the partners wouldn't plunk down money on a facility until after the deal is finalized, and the facility couldn't be ready for production for at least 3-4 months - unless it's some sort of tilt-up fab or something.
So...the revenues being thrown around here ($25Billion???) are quite a ways away, and in the meantime, the company still has no revenue streams, and must continue to make payroll (i.e., sell shares). While the picture being painted is pretty, the stock continues to lose 10% a day, with increasing volume, not a good sign at all.
Can you explain the absence of the alleged $85K downpayment and the $350K they were supposed to have received from the sale of 2 of their systems on the 10K & 10Q they have on file?
Can Mr. Kanno?
Transparent books that make sense are an integral component of legitimate companies - surely they know that.
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