EDITED: Hey CFG, thanks for the heads up. I was just sloppy. Yesterday I took a few minutes to review the filing that was made Friday (though not in depth) and in my opinion, from all appearances the S1 filing may have well been driven by the Goldin creditor group. There is no other practical or strategic business reason that I can see for embarking on a process with the attendant costs and burden with absolutely zero benefit to the company. To the contrary it has created a cost and further dilution to all of the shareholders as it appears that they had to issues a lot of shares to counsel. This is consistent with dog's thoughts on the power Goldin Group wields over management. It seems the 30 day capital reserve disclaimer continues as does the substantial going concern opinion. Why they chose to not not disclose current sales numbers and update a lot of the financial details is in my opinion highly suspect. I believe that some percentage of their sales are being consigned so they cannot book the revenues without significant footnoting and reserves for returns. What percentage that is remains to be seen. There should be some disclosure re manufacturing and the Purchase Order financing arrangement. If they are consigning sales I doubt that a PO financing facility could be accessed, again in my opinion as I have never had a PO financing facility nor have I ever sold anything on contingency. They also clealy state that some percentage of sales are also dropped shipped. This may all be old news but again, I never really looked at any of this in-depth as my original interest was not driven by investment. It would be interesting to see updated information to see what other professional services they are utilizing. In my opinion other than progress on the sales front, which is clouded by the aforementioned qualifiers, there aint much to be hopeful for in the publicly disclosed information. Hopefully the SEC will clamp down on companies using facebook and other social media, either treat that as "OFFICIAL DISSEMINATION" and hold the companies accountable or ban their use. the reaction on this board to such postings clearly shows that the "Puffery" theory and defense is not applicable here and probably elsewhere. Investors are absolutely relying on the facebook page as a relible source of material facts about the company. This aint just "sales talk".
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