i know this seems a small point and will be called nitpicking by some. But it illustrates, once again, how sloppy and careless CAGR is in everything it does and puts out. "Seize" is the wrong word to use. Not once has this company put out any communique or report that didn't have clear signs of being done in a slip-shod, hurry up and do something manner. Even their first PR misspelled two of the easiest words in the language.
Once and for all, that little blurb certainly puts the lie to the rumor that CAGR was/is a "highly profitable" company. Coupled with the reports unaudited numbers, it s plain that CAGR isn't, never was and doesn't plan to be, highly profitable. which explains why they have to give away shares at .0005 to pay off debt.
"Should sales performance not meet projection numbers by end of 1st business year, we will seize the operation and take a loss on freight cost, China duty plus taxes, start-up investment, 12 months of operating expenditure, and cash reserve, total estimated figure is $315,000. Of this figure, we expect to recover $15,000 from the start-up expenditure plus 30% of the gross profit at about $70,000, and $30,000 cash, total of $115,000, taking a $200,000 loss."
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