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noshorthere

07/26/24 12:52 PM

#28495 RE: bcblbrbm #28494

Yes. They are only on OTC Expert Markets because of their failure to file their 10Q with SEC. For all intents and purposes it is nearly impossible to trade the shares while in Expert Markets. Shortly after they get current on their filings they will move up to "Pinks", and then some time later, if they stay current, they will get back to OTCQB.

Now, their real reason for not filing is not known. They claim their auditors, who are in Houston lost power. But 10Qs do not need to be audited, and the auditors have been fined $400K for crappy QC. They have been promising that their Uncle Bud's acquisition was going to take them to the moon. If so, why didn't they put out the 10Q in time?

Oh, yeah, they only generate around $2M annual revenue, so they pay their bills with discounted restricted common shares (that's where the constant share dilution comes from) so the cash can be used to pay their salaries. Schumacher is CEO and gets $400K/yr, and his wife is the COO, but I can't find what her take is. With a company of only around 20 employees those two are both grossly overpaid. Will they succeed? Who knows? they don't produce anything themselves, They haven't ever made a profit in at least 27 years. And they do not have a sales force. All they seem to have is a golden story that resonates with gamblers.