Late this afternoon a company in Fort Lauderdale, FL called Puget Technologies Inc. put out a catchy little press release:
puget technologies inc
3D printing is quite a change for Puget Technologies Inc. from the many (many, many) cannabis press releases they’ve put out recently.
I guess pot sales just aren’t what they were when I was a teenager, because in the most recent 10-Q from PUGE, the company reported zero sales, $8,810 in cash, and debt of $56,018. Additionally, the following “Going Concern” is given: Puget Technologies Inc
“To date the Company has little operations and nominal revenues and consequently has incurred recurring losses from operations. Little in the way of revenue is anticipated until we complete the financing to implement our initial business plan. The ability of the Company to continue as a going concern is dependent on raising capital to fund our business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. Our activities have been financed from the proceeds of share subscriptions and loans from shareholders. From our inception to July 31, 2013, we raised a total of $3,000 from a private offering of our common stock, on October 1, 2010, to a former officer and director of the Company, and $12,000 from the sale of 300,000 shares in a public offering of our common stock. The Company plans to raise additional funds through debt or equity offerings. There is no guarantee that the Company will be able to raise any capital through this or any other offerings.”
I’ll say this though, Puget Technologies Inc. has launched a website almost as pretty as the Makeism 3D Corp. site*.
*Makeism 3D Corp. is currently suspended from trading by the SEC. It’s unfortunate that it took the SEC so long to catch up with MDDD. Subscribers to 3DPrintingStocks.com received a “Caution Advised” notice on the company on its third day of trading.
But back to Puget Technologies Inc. Their new website states:
“Reducing waste, clogging and bloated software will enhance the end-user experience and maximize company growth for our investors.”
If anyone knows what this might mean in relation to 3D printing, please fill me in! Maybe it makes sense to cannabis stock buyers, but not to this 3D printing investor.
I’ll be contacting the CEO, Ron Leyland, to ask who is on the new “dedicated research and development team” the company boasts on their website, when they couldn’t scrape up $12,000 for a single salesperson…according to their own 10-Q that is, which states:
“If revenue supports the expense we intend to spend $12,000 to hire one salesperson to introduce our products. The salesperson’s job would be to find new potential purchasers, and to set up agreements with wholesale customers to buy our luxury wool products.”
You see, before launching their spiffy new 3D printing website, Puget Technologies Inc. was (or still is?) into cannabis, and prior to that they were pushing energy drinks, and prior to that they were selling “luxury wool products”.
There really isn’t much else to say here other than Caveat Emptor as this purveyor of pot with no prior 3D printing industry experience and about $8,000 in the bank (according to their SEC filings) suddenly tries to catch a buzz as a new 3D Printing Stock.
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Disclosure: I have no position in shares of Puget Technologies Inc. (PUGE)
Gary Anderson……..Follow me on Twitter: @3DPrintingStock
puget technologies inc