No comments from you guys? Morse is claiming LBAS will be *cash flow positive* this year!!
"Our second fiscal quarter will come to a close at the end of this month and I am pleased to report that we’re going to have a record quarter. Our combined revenue for Q1 and Q2 will exceed $800,000 which means that our revenues for the first two quarters of 2013 will almost equal our total revenue for 2012. I can also share that we expect our revenue for Q3 of this year to exceed $700,000, which means that our Q3 revenue may equal or even exceed our combined revenue from Q1 and Q2. Based on our current run rate, we are on target to become cash flow positive by the end of our fiscal year, which is August 31, 2013."
The statement by CEO makes no sense. At $800,000 qrtly revenue run rate the company will have a qtrly cash burn of almost $1.0 million or more. How can Q4 be cash positive? It can't and I cannot see how CEO can make that statement. Bottom line LBAS needs $5.0 million to pay for past losses and needs at least that much going forward. If they are at almost cash positive let's see where CEO agrees to sell shares and why he can't get at least $.20 like last year when nothing was as good as what he now predicts.