I totally disagree that GTCH's 2022 10-K was "seriously bad." In my reading it shows incredible improvement over 2021's 10-K.
For instance, 2021 sales were $0; 2022 sales (Ravenholm deal) were $1,152,000. An increase in sales of "infinity." This is seriously bad?
2021 operating expenses were a monstrous $18,665,514; 2022 operating expenses were REDUCED 487% to a mere $3,178,160. On what planet is this seriously bad?
2021 other "expenses/income" came it at additional expenses of $15,454,919. In 2022 there were no additional expenses--instead there was income of $8,122,215. This is an improvement of an astounding $23,577,134. This is seriously bad?
Bottom Line: in 2021 GTCH posted a LOSS for the year of $33,930,433. In 2022, GTCH posted NET INCOME of $5,323,856. This is an amazing improvement of $39,254,289 ... and a swing from a loss to positive income. How could anyone see this as seriously bad?
GTCH's net income for 2022, taken against issued shares of 2,930,101,819 as of mid-April 2023, comes out to income of $0.00182/share. GTCH is trading at $0.0006/share. This means that GTCH's net income per share for 2022 is 300% greater what a share costs on the OTC. Or, an absurd P/E Ratio of 0.33.
By the way, these year-end 2022 financials do not take into effect the 13,000,000 shares of TREN that accrue to GTCH under the recent TREN deal. TREN shares closed at $1.42 today.
All in all, I'm just fine with this 10-K. I think it shows a company recovering from some very bad earlier years. Others can call it seriously bad. What are you going to do?
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