know what this means? I do, having been a CFO of a major company.
"the report of the Company's independent registered public accounting firm on the Company's financial statements for the period ended December 31, 2015 contains an emphasis of matter paragraph regarding the Company's ability to continue as a going concern based upon recurring operating losses and its need to obtain additional financing to sustain operations."
Never will be worth $1.3 Billion. What drugs are you on?
Up until now every joint venture that has been announced has fallen through. Unless the company's commercialization of its Patented CTS Cellulose to Sugar Technology is accepted by business, and contracts signed, this company is going to ZERO! Six months at the most until that happens. Invest wisely.
INCREASE IN AUTHORISED SHARES
The Company is also seeking to increase the amount of shares it has authorized from its current 110 million to 510 million. The Company has no intention to issue these shares at this time, only to have them available for future merger and acquisition opportunities as well as to position the Company for possible up-listing to the NASDAQ or New York Stock Exchanges, when the time is right.
“This is a move to put the Company in a more mature position so that as we grow over these next couple of years we can take advantage of the opportunities that will undoubtedly come our way and be ready for the eventual up-list to the big boards,” said CEO Daniel de Liege.
Authorized shares of stock refers to the type and number of shares which a company can issue or has the right to issue. Issued and Outstanding shares of stock, on the other hand, refers to the shares actually issued or distributed to shareholders. The number of issued shares outstanding determines ownership and voting rights in the company. Authorized shares do not have any dilutive effect on current shareholders.
Company CEO Daniel de Liege will introduce the nominated Board Members and give a brief update on the Company’s progress and future plans.
The meeting is open to all shareholders as of May 9, 2016. Non-shareholders will not be permitted to attend the meeting. Shareholders are responsible for their own travel and expenses. Proxy statements have been made available to all listed and registered shareholders.
You are cordially invited to attend our Annual Meeting of Shareholders on Wednesday June 15, 2016, at 2:00 p.m. local time at the Marriott West Palm Beach, 1001 Okeechobee Blvd., West Palm Beach, FL 33401. The business to be conducted at the Annual Meeting is explained in the accompanying Notice of Annual Meeting of Shareholders and Proxy Statement.
My financial service says that earnings will be reported tomorrow. Don't expect any (lol), however would like to see more news development on their progress selling and getting revenue producing contracts.