shoondale
1 day ago
Broke, boatload of unsold inventory..."The Company has $4,576 cash on hand, product inventory valued at $137,851 and prepaid expenses of $1,017 for total current assets of $143,144 and current liabilities of $381,121 on December 31, 2023, and we have incurred operating losses to date. While sales have commenced with respect to acquired inventory and product licenses, funds generated from these sales were not sufficient to pay debt and fund ongoing operations. We have limited cash on hand. The Company expects that as it expands its planned scope of business and works to increase revenues, it will continue to incur operating losses. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s operations have been funded to date by management and shareholders, save for the acquisition costs to purchase certain assets, licensing and intellectual property rights which were partially funded from the sales of acquired product inventory and through the issuance of shares of the Company’s preferred stock. The Company expects this funding to continue until such time as it can acquire a profitable operating business or undertake a financing. There can be no assurance that the Company will continue to receive this funding from management or shareholders, will be able to generate sufficient revenue from sales of products or that the funding received or generated will be sufficient to pay for its ongoing operations. Management’s plans for the continuation of the Company as a going concern includes successful operation of its recently acquired assets in order to attain profitable operations, the development of a commercially viable business, and financing of the Company’s operations through sale of its common stock, as well as shareholder and management advances until such time as it has established profitable operations."
https://www.otcmarkets.com/otcapi/company/financial-report/392649/content
Techroemancer
3 days ago
No one is. He's running out of material so now he's resorting to "what if this"
Here you go Shoon, here's those sales contracts. I swear, I gotta do all this guy's DD for him since he can't manage to do any himself.
Liquidnano, Inc.
On March 19, 2023, the Company entered into an Exclusive Global Supply Agreement with Liquidnano, Inc. an industry leader in Liquid Glass Screen Protection for mobile devices. These wipe-on products provide scratch, shatter, and impact resistance to all types of handheld device screens. Under the terms of the agreement, Liquidnano, Inc. (the “Distributor”) must purchase at least $725,000 USD of Product during the first twelve (12) months following execution of the Agreement, $1,495,000 USD of Product within months thirteen (13) to twenty-four (24), and $2,810,000 within months twenty-five (25) to thirty-six (36), where month one (1) starts on the first day of the calendar month immediately following the Effective Date. Volume targets beyond that will be mutually agreed upon but shall be at least $2,810,000 USD per year. If the volume target is missed, the agreement will become nonexclusive unless at least 75% of the annual minimum is achieved, in which case the exclusivity is not revoked. However, the shortfall must be made up the following year or the Agreement becomes non-exclusive.
STAT Sanitizing LLC
On August 22, 2023, the Company entered into an exclusive supply and distribution agreement with STAT Sanitizing LLC (“STAT”) whereby the Company granted STAT the exclusive rights to market and sell certain Megola products within the Territory defined as the US market for remediation services. The agreement has a term of 24 months, renewal for consecutive 12-month periods subject to STAT meeting certain minimum purchase commitments. STAT must purchase at least $500,000 USD of product during the first 12 months from August 22, 2023 and $1,000,000USD of product during the second 12 months. Should the volume targets not be met the agreement will become non-exclusive for the remaining term of the agreement. Any sales by the Company in the Territory or by STAT outside of the Territory, the Company will pay STAT a commission fee of 10% of all such sales and the sales will be included in the minimum purchase commitments. The product included in the agreement is MedeSol Cleaner Deodorizer.
shoondale
4 days ago
"The Company has $4,576 cash on hand, product inventory valued at $137,851 and prepaid expenses of $1,017 for total current assets of $143,144 and current liabilities of $381,121 on December 31, 2023, and we have incurred operating losses to date. While sales have commenced with respect to acquired inventory and product licenses, funds generated from these sales were not sufficient to pay debt and fund ongoing operations. We have limited cash on hand. The Company expects that as it expands its planned scope of business and works to increase revenues, it will continue to incur operating losses. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s operations have been funded to date by management and shareholders, save for the acquisition costs to purchase certain assets, licensing and intellectual property rights which were partially funded from the sales of acquired product inventory and through the issuance of shares of the Company’s preferred stock. The Company expects this funding to continue until such time as it can acquire a profitable operating business or undertake a financing. There can be no assurance that the Company will continue to receive this funding from management or shareholders, will be able to generate sufficient revenue from sales of products or that the funding received or generated will be sufficient to pay for its ongoing operations. Management’s plans for the continuation of the Company as a going concern includes successful operation of its recently acquired assets in order to attain profitable operations, the development of a commercially viable business, and financing of the Company’s operations through sale of its common stock, as well as shareholder and management advances until such time as it has established profitable operations."
https://www.otcmarkets.com/otcapi/company/financial-report/392649/content
Techroemancer
4 days ago
Shoon's right! Positive dilution to come and only 600MM shares post-dilution! Here's the positive dilution - Management team knows their stuff! Thank you for allowing me to post their positive dilution for all to see again brother 🤜🤛
General Proposed Use of Funds:
This offering is a pivotal step in our strategic plan, designed to enhance various facets of our business.
We plan to allocate funds into each of the categories listed below.
Product Development:
We plan to invest $1,100,000 in product development. These funds will be used for rigorous product testing to ensuring that each our products not only meets but exceeds industry standards in terms of quality and efficacy. Our commitment to product testing is intended to differentiate us in a competitive market.
Regulatory Registrations:
We plan to invest $920,000 in regulatory registrations. These funds will be used to meet compliance and safety requirements and continue to build trust with our customers and stakeholders.
Manufacturing Scale-Up:
We plan to invest $300,000 to scale our manufacturing capabilities. These funds will be used in conjunction with contract manufacturers to build manufacturing capacity to meet projected market demand. We plan to not only scale our ability to produce more products, but also our ability to produce higher quality products.
Build-out of Lab Facilities:
We plan to invest $250,000 in the development of lab facilities. These funds will be used to further our R&D efforts and pave the way for new products.
Intellectual Property Protection:
We plan to invest $300,000 in intellectual property protection. These funds will be used to protect our broad portfolio with global potential to sustain a competitive edge in the market.
Marketing:
We plan to invest $930,000 in marketing. These funds will be used to effectively communicate our value proposition to our target audiences. Our comprehensive marketing plan will encompass digital marketing, participation in industry events, and the development of strategic partnerships, all aimed at building brand awareness and establishing a strong market presence.
Human Resources:
We plan to invest $1,500,000 in human resources. These funds will be used for wages and consulting fees. By attracting and retaining top talent, we aim to ensure that our company will be powered by skilled professionals who are not only experts in their respective fields but are also aligned with our vision and goals.
Corporate Expenses:
We plan to invest $700,000 in corporate expenses such as business insurance, legal, travel, and accounting. These funds ensure that we have the necessary safeguards and resources in place to manage our day-to-day operations effectively and maintain financial discipline.
Share Buy-Backs:
We plan to deploy 30% of the offering proceeds ($3,000,000) to buy back some of our Series D Preferred shares. These shares will be bought back at a 50% discount to the offering price, resulting in a price of $0.0125 per common share equivalent. We expect this investment will illustrate our commitment to minimizing dilution and delivering value to our shareholders.
Working Capital:
We plan to invest $1,000,000 in working capital. These funds will be used to optimize our cash flow through inventory builds and managing short-term liabilities and receivables.
Objectives Targeted:
The strategic deployment of these funds is a comprehensive approach aimed at enhancing every aspect of our business – from product development to market penetration, operational efficiency to financial stability. This holistic strategy is crucial in positioning our company as a leader in our field, driving sustainable growth, and achieving long-term success in the marketplace.
shoondale
4 days ago
SCAM!!! Clowns never sell the backed up inventory!!!!
December 31,2023 March 31,2023
ASSETS
Current Assets
Cash and cash equivalents $ 4,576 $ 850
Prepaid Expenses 1,017 1,087
Inventory 137,851 143,830
https://www.otcmarkets.com/otcapi/company/financial-report/401649/content
shoondale
5 days ago
"The Company has $4,576 cash on hand, product inventory valued at $137,851 and prepaid expenses of $1,017 for total current assets of $143,144 and current liabilities of $381,121 on December 31, 2023, and we have incurred operating losses to date. While sales have commenced with respect to acquired inventory and product licenses, funds generated from these sales were not sufficient to pay debt and fund ongoing operations. We have limited cash on hand. The Company expects that as it expands its planned scope of business and works to increase revenues, it will continue to incur operating losses. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s operations have been funded to date by management and shareholders, save for the acquisition costs to purchase certain assets, licensing and intellectual property rights which were partially funded from the sales of acquired product inventory and through the issuance of shares of the Company’s preferred stock. The Company expects this funding to continue until such time as it can acquire a profitable operating business or undertake a financing. There can be no assurance that the Company will continue to receive this funding from management or shareholders, will be able to generate sufficient revenue from sales of products or that the funding received or generated will be sufficient to pay for its ongoing operations. Management’s plans for the continuation of the Company as a going concern includes successful operation of its recently acquired assets in order to attain profitable operations, the development of a commercially viable business, and financing of the Company’s operations through sale of its common stock, as well as shareholder and management advances until such time as it has established profitable operations."
https://www.otcmarkets.com/otcapi/company/financial-report/392649/content
shoondale
6 days ago
Desperate scammer bought $5 worth of MGON to make it .01. Do we require a greater clue this is a scam?
https://www.otcmarkets.com/stock/MGON/quote
DATE TIMESTAMP PRICE $ CHANGE VOLUME
07/16/2024 11:24:30 0.01 0.00 500
07/16/2024 10:14:37 0.0085 -0.00 15,000
07/15/2024 13:29:30 0.0101 -0.00 10,000
07/15/2024 12:09:28 0.01065 0.00 5,000
07/15/2024 12:05:39 0.01015 0.00 10,000
07/15/2024 11:40:33 0.01015 0.00 5,000
07/15/2024 10:44:46 0.01015 0.00 10,000
07/15/2024 10:10:02 0.01015 0.00 5,000
07/15/2024 10:09:56 0.0085 -0.00 50,000
Techroemancer
6 days ago
You do realize your company is worse off than ours? Also, we have plenty to account for. New officers, new management, new products that are being sold, new contracts for those new products last year, new video showcasing further products. New filing approved from the SEC, new positive dilution for more research labs/employees/marketing/etc.
We have quite a lot going. And no, that's not bright and shiny objects in the future.
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