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Replies to post #25361 on Mucinno Holding Inc. (MCNO)
“Already reporting $2.36M net income!“
Most of that is the change in derivative liability. When convertible debt is converted to stock at a significant discount to market the derivative liability that was recorded when the notes were sold is written back. There is no impact on the company or its cash.
Lots of stinkie pinkies have people thinking they actually made that much money. They didn’t. But they were converting notes to stock.
They are reporting income from operations of about $400K...but it’s not audited so it could all be make believe.
AI
