"Prepaid operating expenses of $59,118 and reduced current liabilities by 7,574"
Above from your analysis. Why is a $ 7,574.00 reduction in current liabilities any more significant then an increase in receivables of five times that amount.
They both affect cash flows which is very important if this company is to survive to monetize this valuable (???) asset.
Stock is constantly being DILUTED because of cash flow problems.
and at 4 to 5 cents a share you have to issue a lot of stock to carry a 35 thousand dollar increase in receivables.
Note: I am using 35 thousand from memory but if it is significantly different let me know
In this case time dilutes all shareholders since sale of stock is really only reliable source of funds. You or I don't even know the terms of the stockholder loans, nor can we command them to be made. Do you think their gratuitous"?
The loans may serve JJ's interests but I am sure he is aware that it benefits all of the stockholders and maybe there is another reward we are not privy to. He would be entitled to some interest on his loans (or options, or warrants, or ??? )
What are these receivables is the real question. MDMN is not an operating company as you pointed out. Who or what are they financing?
No explanatory notes to an unaudited ambigous financial statement is a slap in the face to all other stockholders. Other then JJ and those he may wish to keep informed.
Some time we can't see the trees from the leaves.
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