I like that track the merchandise that is rolling out, but I am concerned about the company staying afloat. Consider that last month, the company needed to disgorge 2 million to pay the debt holders I think. From the sec filings, they may have raised enough to cover a portion but I don't think anymore than that. It does appear that Anson may have bailed it out a bit if they did choose to excerise their warrants at .76. To clarify, if you read the section on the senior notes, you will note the 4.5 mil debt is divvied up. Mr. Heyward brought .5 mil and the 883k is paid out presumably since it's Feb without bankruptcy and the last payment was due Dec 2019. There's 750k that should be paid out completely last month. There's a 1.7 mil principal payment due last month as well.
The company does have profitable assets such as its yt channel. The licensing rights to llama llama. From what I've seen, llama llama sells but it's low margin and I have no idea what the volume is.
What I am most concerned with is how disconnected Mr. Heyward is with reality. He guided 9.6 mil for last year; in the 3q they made 5 mil in gross revenue and had operating expenses of 9.6 mil so maybe he switched the numbers? ??Now there was 4 mil in deferred revenue so they could make their numbers if they recognized it all. The idea that the company is going from 9.6 mil to 50 mil in a year is a very large projection. This is supppose to be conservative estimates; he wrote a paragraph on how management came to those numbers. I doubt it considerably. Mr. Heyward has proven he is not above some manipulation with his press releases.
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