Wow! After reading that ASUV promo I thought I'd check their latest SEC 10-Q
That promo was the biggest piece of fluff crap I've read in a long time! It turns out I have more in liquid assets than they do by a factor of 10x!
otcmarkets.com
Liquidity and Capital Resources
As of October 31, 2012, we had current assets of $48,080, consisting of cash in the amount of $31,633 and prepaid expenses in the amount of $16,447. As of October 31, 2012, we had current liabilities of $212,180, consisting of license fees payable of $175,000 and accrued expenses of $37,180. Thus, we had a working capital deficit of $164,100 as of October 31, 2012. The largest component of our current liabilities is a
$175,000 license fee payable under our License Purchase Agreement with Kouei International. This represents the second of the three installment payments called for under the agreement.
Management estimates that approximately $50 million in new equity will be required in order to procure the necessary equipment, facilities, and supplies for our planned business and to commence our planned tire recycling operations. We currently do not have any firm arrangements for equity or debt financing and we may not be able to obtain financing when required, in the amount necessary to commence our planned operations, or on terms which are feasible in the opinion of management. |
