Zero Cash Only Asset is a $500k On-line Poker Software License Liabilities $119,640 (Notes Payable)
Zero Revenue General and administrative expenses YTD $134,940
FY 2010 Cash flows from operating activities: Net loss $ (134,940) Adjustments to reconcile net loss to net cash used by operating activities: Accounts payable and accrued expenses $5,740 Stock issued to repay notes payable $10,500 Common stock issued for services $129,200
From Inception to December 31, 2010 Stock issued to acquire license $500,000 (only asset on the books) Stock issued to repay notes payable $272,100 Common stock issued for services $2,041,621
$2M received from sale of Stock and nothing to show for it, no assets, plants, equipment - NOTHING!
For the ENTIRE YEAR of 2010, all the stock sold by Vega went to pay General and administrative expenses. In other words, Molen and friends pocket!
11/02/2009 2:38PM Vega Accepting Bids for Construction of Georgia Manufacturing Plant
12/08/2009 - Vega Issues Q4 Update to Shareholders South Georgia Manufacturing Plant: "We have applied for a grant from the State of Georgia under the federal State Energy Program to help fund the construction of the manufacturing plant."
03/25/2010 8:30AM Vega's Georgia Manufacturing Plant to Produce Bio-Coal for European Power Companies
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