Cl5Pascal2671
4週前
Yeah, they kept the subsidiary but only sold the "brand." Same thing happened with American Metabolix, sold the "brand" (to a former Supplement Group employee) in July 2022 but still listed as one of their subsidiaries. They've also sold Storm Lifestyle to the same ex-employee over at NxGen.
When you go back to all the articles before acquistions, these brands were bringing in millions in revenues, and management dangled things like top retailers are after us, which mystery Fizzique flavor is coming next, we entered the Walmart contest, etc ... All positive news until it just vanished into thin air.
I felt that they played musical chairs within their own businesses and subsidiaries. When they've created Supplement Group Europe, they've sold all their shares in Supplement Group USA. But only S.G.USA had all of the subsidiaries underneath them while S.G. Europe got to play privately, in which S.G.USA paid $50k/mo to ... themselves and additionally into Green Light Development LLC.
Maybe S.G. USA held all the liabilities while they were able to get away with it at S.G.Europe. Before they've got rid of PDPG & TQLB, they held shares in both. Coincidentially, GTEH is the only one left standing, in which they dont hold shares in.
The whole, PDPG, TQLB & GTEH didn't make sense, either. TQLB sold American Metabolix to GTEH for one thing. Second thing, they also reported to S.G. Europe.
I don't know but if you look far back, it feels like GTEH was just paying off the last ticker, PKGM's debt.
The last thing I've could remember following was that the latest reverse split was canned by FINRA for something I can't remember. But it poses the question, how GTEH able to pull of the reverse split back in 2018?
I hope management gets held accountable. They mislead investors.
Slojab
4週前
Huh. There was such a lack of interest back then, that no one posted that the Q3 report had been submitted to OTC Markets. A lot of info was in that report. I don't understand that in one statement they claim they sold Sinfit at a point in time within the third quarter, and then list it as a subsidiary.
On August 29, 2022 Sinfit Nutrition, Inc. sold the brand SINFIT as it began to exit the functional food markets due to
unsustainable rises in the cost of freight and the continued, covid related, difficulties in consistently obtaining high
quality product has made this brand one of the more poor performing and low profit brands within the group.
Both companies continue to operate other, successful brands that are profitable, and a name change for each
company will occur at the end of 2022.
B. Please list any subsidiaries, parents, or affiliated companies.
SINFIT Nutrition, Inc. 100% owned and controlled subsidiary
American Metabolix, Inc. 100% owned and controlled subsidiary
Nature Spoon, LLC. 75% owned and controlled subsidiary
Then, there's this....
In July 2021, the Company acquired 75% of the equity of “Nature Spoon LLC” from “Sara Zolfaghari”, the sole member of the company,
through equity purchase agreement dated July 20, 2021 for $ 267,500 cash.
In September 2021, the Company acquired 100% of the equity of “American Metabolix, Inc.” from “Torque Lifestyle Brands, Inc.”
through equity purchase agreement dated September 1, 2021 for $ 1,300,000
So, who knows now what is contained, if anything, within the ticker GTEH. Not that anyone cares given the current status as a dead company.
Slojab
6月前
Let's see now, since that date, they did a 1:70000 reverse split and they stopped reporting to OTC Markets and therefore were dropped to the Expert Market.
You can't find anywhere that Fizzique is sold so there's a question as to whether they're even still doing business. But you think that the sp as of a date 5 years ago "could possibly be the catalyst for a turnaround in this stocks performance"
db, with the utmost sincerity, I don't think you should be trading the OTC.
And not to be picky, but the sp was higher in early 2018 than it was in 6/17. So, I guess if nothing happens to the stock, you can always hope for a move 6 months from now, eh?
Slojab
10月前
Will your broker dump your shares out of your account? That's what all those $.000001 trades are.
This was pulled from the IRS website.
Question
I own stock that became worthless last year. Is this a bad debt? How do I report my loss?
Answer
If you own securities, including stocks, and they become totally worthless, you have a capital loss but not a deduction for bad debt. Worthless securities also include securities that you abandon. To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it.
Treat worthless securities as though they were capital assets sold or exchanged on the last day of the tax year.
You must determine the holding period to determine if the capital loss is short term (one year or less) or long term (more than one year).
Report worthless securities on Part I or Part II of Form 8949, and use the appropriate code (see the Instructions for Form 8949) for worthless security deduction in the applicable column of Form 8949.