|Here's the location in Sherwood Park where Virtutone is booking (but very clearly not collecting) tens of millions. |
240, 2181 Premier Way, Sherwood Park
"Pursuant to the terms of the agreement, the company will be issuing $12,500 in shares per quarter to Agoracom. The number of shares to be issued at the end of each quarter will be determined by using the closing price of the shares of Virtutone on the TSX Venture Exchange on the first trading day of the month following each quarter for which the advertising services were provided by Agoracom. "
ANY company happy to flip off it's paper with no control over dilution whatsoever is a large PoS, forget the fact that said worthless paper is going directly to a busted red-handed securities crooktard.
|Stay tuned folks. This is never rocket science and the largest clue to the nature of this latest AgoraScam scam is a crooked GreekTard.|
"As at April 30, 2013, the Corporation has an accumulated deficit of $1,512,603 (January 31, 2013 - $1,467,178). The Corporation is also in violation of certain covenants on its bank debt (note 6) at April 30, 2013."
"The Corporation must also maintain a ratio of total liabilities to tangible net worth (defined as net assets, excluding intangible assets) of not more than 2.5:1. The covenants are assessed by the bank at the end of each fiscal year. At April 30, 2013, the Corporation is in compliance with its debt service coverage ratio covenant and is not in compliance with its tangible net worth covenant. As such, the bank has the right to demand repayment. At June 27, 2013, the bank has not demanded repayment."
Upshot? IF company is rolling in cash flow and massive net worth as they would have public idiots believe WHY is the Co deliquent in its covenant? Further, WHEN the bank pulls that line this dope show will have no liquidty whatsoever, zero, and that assumes it CAN pay it back. (which it absolutely cannot)
Tell us again about all those massive "revenues" Georgie Peorgie.
The "Revenue Scam" explained.
OF COURSE these flaming retards are "excited" but how many public companies release their gross sales figures the day after the month? Fuk all thats how many. The "Revenue Scam" involves setting up one or more bogus enterprises and then billing them for services, which, naturally, they will never pay for. The reported revenue number is 100% and entirely bogus and there is no profit possible in swapping paper assets and liabilities between non-arms' length entities.
Bad debts expense goes to the moon, accounts receivable is a massive large fraudulent fiction and the entity goes tits up in a score of months as no accountant on the planet will sign off on a sickening and very obvious fraud.