Truth is stranger than fiction! His 71 yr old Mom is taking over...
Wonder why they keep this "all in the family"? Pretty easy to put this puzzle together.
"Loretta Vermette, 71, has been a successful real estate agent for more than 30 years. She established her real estate career with the prestigious real estate broker Seven Gables Real Estate in Tustin, California. At that time, she specialized in private golf communities of Orange County and established herself by consistently placing in the top 10 percent of California Realtors every year. Ms. Loretta then joined REMAX Real Estate marketing downtown condominiums in Orange County, California and became nationally recognized as one of the nation's top five percent of Realtors as a Certified Residential Specialist in 2003, 2005, 2006 and 2007. Ms. Vermette is the mother of our founder, Shannon Illingworth."
Sentiment: Strong Sell
"On March 23, 2015, our board of directors accepted the resignation of Shannon Illingworth as a Director of the Company"
CFO Leaves, Chairman leaves... who is next? Who wants to be left holding the bag/liability?
Sentiment: Strong Sell
On October 27, 2014, AVT, Inc. (the "Company"), conclusively determined that the previously issued audited financial statements as of and for the fiscal year ended December 31, 2011 ("Previously Issued Financial Statements") as presented in the Company's Annual Report and Amended Annual Report on Form 10-K filed with the Securities and Exchange Commission for the same year (collectively, the "December 31, 2011 10-K"), contain certain errors that materially impact the Previously Issued Financial Statements. Accordingly, these Previously Issued Financial Statements and related financial information should no longer be relied upon.
Specifically, the Company identified errors in its Previously Issued Financial Statements in connection with the accounting for inventory, property and equipment, intangible assets equity based compensation, exchange of debt for equity, depreciation and amortization expense , derivatives embedded in its debt instruments and incorrect classification of expenses.
Figured this would be a good place to sell my interest in the bridge.
One day you wake up and this is halted...forever.
Those Swiss bank accounts aren't what they used to be either :)
Have a blessed day.
shares outstanding = 124M
Continually issuing more shares, continually losing more money...
"123,986,472 and 104,085,210 shares issued and outstanding, as of October 31, 2014 and January 31, 2014, respectively"
Shares will 100% go to ZERO