The Real Scoop on Ethos
The sharp minded skeptics at Quatloos have discovered through the SEC filings that Ethos lied about their sales figures.
It appears that Ethos has been losing money from the beginning, and that according to documents filed with the SEC,
"Victor Industries to the Securities and Exchange Comission regarding their proposed merger with Ethos Environmental Inc (http://www.secinfo.com/d18hJx.v3c.htm#1stPage). Here are the real sales figures for Ethos FR:
2003: $ 198,8122004: $ 332,7802005: $ 1,780,825
2006 (1st half): $2,711,762
EEI's auditors also comment that "the Company has experienced recurring losses from operations and has a substantial accumulated deficit. These conditions raise substantial doubt about the Company's ability to continue as a going concern."
Maybe they should simply declare themselves to be a web 2.0 company engaging in social networking and get a postive rating from Fred Wilson.
Technorati Tags: sec filings, ethos, social networking, quatloos, fred wilson, 1stpage, http, eei, exchange comission, skeptics, merger, victor
Technorati Tags: sec filings, ethos, technorati, social networking, quatloos, 1stpage, http, eei, exchange comission, fred wilson, skeptics, merger, victor
