Replies to post #74008 on California Grapes International, Inc (CAGR)

[Bretwalda]

Again, it would seem a concern if this entity thing/status affects CAGR current operations. If Franks leaving is transparent to current CAGR operations then that's cool. Legit question/concern IMO.

[pantherj]

That is absolute laughable nonsense. CAGR has nothing ... and now has nothing with which to make anything.

[dh30067]

Huh...? CAGR was just left holding the bag to a $467,000 loan to Frank's Beijing sub of which they will never be repaid! CAGR lists this loan as a asset which will now go to zero resulting in an immediate reduction of -$467,000 in CAGR assets.

But the real cost is not to CAGR but to shareholders since that "loan" came from share sales.

But the real question is how $467,000 of shareholder money was funneled thru CAGR to a Beijing Sub in China with no reporting financials or accountability to shareholders and now that sub will file bankruptcy while Frank the owner of that sub seperates himself from CAGR and likely not one nickel will return to the books of CAGR as I am quite certain the assets of Frank's Beijing sub are likely to be a few bottles of wine, a fax machine and some pens!

And what exactly did this $467,000 go towards since all the expenses are listed on CAGR side? Unforunately once this money left the books of CAGR it was simply a "loan" that may or may not ever be paid back. At $467,000 that's money leaving the books at the rate of $20K for 2 years.

So the end result will be $467,000 of shareholder money wipped clean from the books. This in addition to the $229,086 missing as already noted below:

CAGR reported $624,286 NET CASH PROVIDED BY FINANCING ACTIVITIES (share sales) for Q1 then reported a lesser figure $395,200 for the entire fiscal year yet another 618,375,150 shares were issued!

That's $229,086 less offering proceeds than were already reported on the books plus another 618,375,150 shares issued plus now an additional $467,000 that will disapper from the books in the bankruptcy of the Beijing sub!

If Frank was sinking the ship, then his resignation is a HUGE positive. I would even imagine the board may have strongly advised him to resign. All involved realized 450K was going to lead the company downward. Franks gonna hold the bag for the bankruptcy in China, The stock price should climb on this news in all actuality. CAGR is saved for another adventure!