Don't put words in my mouth to make some point. I have always said that the EBITDA number was BS for the press releases. The filings tell the real story as always and I post quotes directly from them all the time. I say revenue means very little for this very expensive business model and you only have to look at the bottom line numbers to know that a $400K plus EBITDA claim is for the low information trader who bases buying decisions on spoon fed press releases. These claims are also why the company has little credibility with the traders.
Bottom line is that they will pay little if any debt down with cash flow and the clock is ticking on their defaulted debt obligations. Like I said, Leonite becomes puppet master in less than six months and they won't be shy about capitalizing on their investment.
The Company’s ARIA subsidiary continued its growth and had a $404,700.00 EBITDA for the second quarter which was a 117% increase over the first quarter of 2022.
The operating income was $126,702 and $104,321 for the six months ended June 30, 2022 and 2021, respectively, an increase of $22,381 or 21.4%. In the prior period, management fees of $52,708 were reversed, after eliminating the reversal of management fees, operating income increased by $73,994, primarily due to the operating income of $131,359, generated by Evernia offset by an increase in operating expenses for the legacy business related to an increase in professional fees as discussed above.
Net loss
Net loss was $344,599 and $4,994,594 for the six months ended June 30, 2022 and 2021, respectively, a decrease of $4,649,995 or 93.1%...
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