I meant Dingaan Holdings, not sure where Wagner came from.... who is Dingaan anyway? A Bahamas corporation, it says... ?
I consider this to be bleeding cash:
CASH FLOWS FROM FINANCING ACTIVITIES
Cash advanced from Lines of Credit................ $40,000
Principal payments on notes payable...............(163,609)
Cash paid on Line of Credit........................(95,200)
Dividends paid....................................... (153)
Net Cash Provided (Used) by Financing Activities...(218,962)
INCREASE (DECREASE) IN CASH........................(502,699)
CASH, BEGINNING OF PERIOD ...........................600,231
CASH, END OF PERIOD...............................$ 97,532 =========
And that is even though they cashed out $256,000 in CDs. It hardly matters if they make a small profit, with debt so high. Notes payable went from zero in 6/98 to $414,000 in 3/99. Meanwhile, their credit line is decreasing.
I don't see how much excitement will be generated by GoProfit, their $30,000 in assets, and their empty web page.
Internet ventures really suck money, and DDEQ doesn't have it.
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