Goopstain
4 hours ago
I see a payroll tax deduction for $22,334. Thats 7.9715% of the $280,176 salaries deduction. When I get a paycheck, I am the one paying the tax, not the company. And 7.9715% tax rate is very unusual to say the least. Kinda makes me very skeptical of the whole disclosure, given ballass’s track record. I smell a RAT!
GLTA
POOPSTAIN
Scratchgolf
6 hours ago
$UBQU As mentioned yesterday the company is currently involved in many tasks to complete the integration of Innovative Outcomes into UBQU. We have a lot to do during August but believe shareholders will be happy with the plan and structure being implemented to move us forward.
Here is my take of the shareholder's current situation: There seems to be no doubt that IO is a real company with real revenues and trying to grow those revenues.
Where the shareholders struggle or rather yet, where the market struggles is the bloated financial structure (O/S) and the expenses to income ratio.
There are only 2 main ways the insiders can make money. Through selling stock or revenues from the company.
There is only 1 way that shareholders can make money. Buying stock and selling at a higher price.
So here is the conflict of interests that needs to be addressed by the company due to their horrendous track record.
The company can make money by selling stock that were issued to them without spending any of their own money to buy shares. So they literally can sell at .0001 and make money. Shareholders have to wait until at least .0002 to make any money which little to no volume have occurred at that price. Second, the company insiders can draw salaries and draw capital through quarterly expenses as seen below. Shareholders don't see a dime.
Advertising and marketing $17,850
Bank charges $2,641
Computer and internet $2,642
Consulting $5,000
Depreciation $1,670
Insurance $15,850
Office supplies $8,480
Postage and delivery $1,167
Professional fees $22,500
Rent $82,971
Salaries $280,176
Payroll taxes $22,334
Telephone $6,179
Utilities $11,521
I won't deny that some of the expenses above are legit, but you could question everyone of them to see how much commingling with insider's expenses that are occurring. There are nearly $500,000 for the quarter. What are the professional fees? Who gets the salaries? Who gets the rent from the building and is there an insider who owns it? (Just to name a few unanswered questions).
Bottom line. If the insiders have so much confidence in the future. Why take any salaries or any compensation in the form of an expense?
They should take stock options only to make it a truer even playing field. But then again, why would they do that when they can have their cake and eat it too? If they lowered the O/S and took no compensation until profitability, the stock would skyrocket.