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Speedemissions Inc. Message Board

  • originalfred66b originalfred66b Apr 4, 2008 7:05 PM Flag

    Annual Report

    Some notes from the 10-KSB For The Fiscal Year Ended: December 31, 2007.

    our independent auditors raised substantial doubt about our ability to continue as a going concern due to our recurring losses from operations, operating cash flow deficiencies, and our limited capital resources.

    accumulated deficit of $12,029,892

    Our largest shareholder, GCA Strategic Investment Fund Limited, and its affiliate, owned approximately 65% of our outstanding common shares and control approximately 82% of our outstanding voting securities as of March 14, 2008.

    As of February 29, 2008, there were 5,162,108 shares of common stock outstanding. If all warrants and options outstanding as of February 29, 2008 are exercised and all preferred stock are converted to common stock, there will be 46,045,121 shares of common stock outstanding.

    approximately 100 shareholders of record

    For 2007, loss of $258k on sales of $9.7M.

    Share equivalent = 5.2M common + 4.3M Class A + 18.8M Class B = 28.3M shares

 
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