Replies to post #37712 on All American Pet Company Inc (AAPT)

[Alydyr]

BOW WOW BUCKS FOUNDATION INC.
Status:
Revoked

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=hdrHDxzKhr7i%252b3kMWX8keg%253d%253d&nt7=0


BOW WOW MILLION INC.

NV20091271493
Revoked
http://nvsos.gov/sosentitysearch/CorpSearch.aspx

[Mr. Smith]

Watch out, this POS is gonna dump! Company is gonna dilute ;) share spitting run back to the trips coming! Short this baby right in front of the note holders! Tankage coming!

[Mr. Smith]

The Company has never operated at a profit. The Company has continued to seek and has obtained substantial new equity investment, however, the company remains under significant financial strain primarily because of its low level of sales and limited operating funds. Our limited level of sales results from the Company not having enough funds to support the manufacture of its products, and not having all of the funds necessary to market its products or to pay the other costs required to place its products in stores where they can be sold.

[Mr. Smith]

We have never generated any significant revenues, have a history of losses, and cannot assure you that we will ever become or remain profitable.

[Mr. Smith]

Our independent registered public accountants included an explanatory paragraph in their audit report in connection with our 2010 financial statements stating that because we have incurred a net loss of $7,439,775 and a negative cash flow from operations of $2,116,774 for the year ended December 31, 2010 and had a working capital deficiency of $3,154,575 and a stockholders' deficiency of $3,365,717 at December 31, 2010, there is substantial doubt about our ability to continue as a going concern. These factors, along with others, may indicate that we will be unable to continue as a going concern for a period of twelve months or less.

[Mr. Smith]

ITEM 3. LEGAL PROCEEDINGS

The Company was and is involved in various litigations with trade creditors, former employees and professionals. Currently there are ten judgments against the Company in the aggregate amount of approximately $291,010. A media company filed a suit to collect unpaid fees dating from October 30, 2007 of $71,033. The media company was granted a judgment for $71,033 by Los Angeles Superior Court on April 6, 2010, which is still owed by the company. There have been no efforts on the part of the media company to collect the judgment and the Company believes that it will be able to settle the amount for a reduced final payment. A materials handling company was granted a judgment for $3,654 by Superior Court of California on January 18, 2008. There has been no further collection activity on this account. An internet marketing company filed suit against the Company and agreed to arbitration which was settled for $20,000 in October of 2010. There have been no payments made on this settlement. An accounting firm that provided services to the company obtained a judgment through arbitration that was confirmed by the Circuit Court in West Palm Beach for $150,000 on August 25, 2010. The Company has been in negotiations with various payment plans and is expecting to settle the matter for a reduced amount that has not been determined at this time. A public relations firm obtained a judgment in the amount of $44,323 on April 9, 2010 for fees owed for services. There has been no collection activity and the Company is planning to negotiate a reduced settlement of the final balance owed. A videographer filed suit in Small Claims Court in Mercer, New Jersey for $2,000 and received a default judgment in November of 2007. The company has had no contact with the plaintiff in this matter and expects to not pay anything of this judgment amount.

The company has settled a lawsuit with a former employee in the amount of $90,000 plus $2,069 previously settled. The Company is required to make an initial payment of $15,000 on or before April 30, 2011 and 14 monthly installments of $5,357 begining June 1, 2011. As of July 1, 2011, the Company has not made any of the required payments under the terms of the agreement.

A grocery services company filed to substitute attorneys for on its filing to collect $22,000 in fees for advertising services on February 22, 2011. This matter is pending; however the Company believes it will be settled for a nominal amount if anything based on the age of the payable.