Posted in : strip , Recent Updates| Tagged : cartoon strip , amusement
It ’s the day before Thanksgiving . All the laughable book journalist are busy constitute travelling plan , family design , turkey plans , Black Friday programme .
Which means it ’s allow for to the hacks , rumor mongers and multitude who wish worm too much , to front through the SEC filings of Wizard World , made yesterday .
And , ho boy .
This paragraph sticks out half a international mile .
The Company estimates the hard cash and immediate payment equivalents currently on bridge player as of November 21 , 2016 is insufficient to fund its operations on a tenacious term foundation pastDecember 31 , 2016 .
So there ’s that .
for fund cognitive operation past that date is dependant on direction ’s plans , which let in the lift of majuscule through debt and/or equity market place with some additional financial support from other traditional financing source , including term notes , or the significant decrease of operating expenses until such time that funds provided by operations are sufficient to fund working uppercase prerequisite .
Which is a shame , really , as Wizard World has been doing significantly better in 2016 than in 2015 . According to these figures , last year they made a last income loss of over two millon , this year a positive nett income of over three quarter of a million . So that meant they did n’t have to pay any taxis .
They also co - create the caller ButtaFyngas , which has been PR’ed asNorman Reedus ' app , which wee-wee your telephone sound like Dwight . They own 50 % .
They also mention that their offices are subleased from Bristol Capital Advisors , " an entity controlled by the Company ’s Chairman of the Board . The term of the Sublease is for 5 years and 3 months beginning on July 1 , 2016 with monthly payments of $ 8,118 . Upon instruction execution of the Sublease , the Company paid a security measures sediment of $ 9,137 and $ 199,238 for prepaid rent . " Which , I suppose , keep things in the family .
spill the beans of which , we covered the lawsuitagainst Chief Marketing Officer and Wizard founderStephen Shamus , andscooped the news on his counterclaim . They say " the lawsuit is in an early stage and the Company intends to soundly follow its claims and establish a tight defense against the Counterclaim . In the event we flunk to defend against the Counterclaim , we may be capable to a judgment which could materially impact our financial condition . "
fundamentally , Shamus wants a million .
But even if it all goes their way , they still take extra support to continue into 2017 …
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