Complaint Review: Apple Rush - Glenview Illinois

Apple Rush Co., Inc. (AR) is a beverage marketing company for AR CEO Robert Corr who privately owns the Apple Rush brand and registered trademark.  On December 7th 2007, D-Bar Manufacturing Inc., pursuant to a reverse merger with Corr's public Apple Rush Co., Inc. (a Nevada corporation), began to trade publicly--under the name Apple Rush Co., Inc. (a Texas corporation) and ticker APRU.  As Apple Rush Co., Inc. is currently "not in good standing," the firm cannot legally transact ordinary business in the U.S.A. as a corporation. 

http://www.applerush.com Company website dead.
 
3. GOING CONCERN
The Company has incurred cumulative losses of  $6,420,452 since inception. These conditions raise substantial doubt as to the Company's ability to continue as a going concern. In order to meet its upcoming continuing obligations, include any adjustments that might be necessary should the Company be unable to continue as a going concern.

D-Bar Manufacturing Inc.
P.O. Box 1418
Abilene, TX 79604
Incorporated in Texas (March 16, 1998)

Now Doing Business As:
Apple Rush Co., Inc.
P.O. Box  9
Dolton, IL 60419

Transfer Agent (gagged)
Island Stock Transfer
100 Second Ave. South
Suite 104N
St. Petersburg, FL 33701
Telephone: 727-289-0010 begin_of_the_skype_highlighting              727-289-0010      end_of_the_skype_highlighting
Fax: 727-289-0069
E-mail Address:
[email protected]

Latest Financial Reports  (FY 2010 & Q1 2011)
Numbers in red are losses  or liabilities

CURRENT DEBT (As of 31 March 2011)
Accrued interest (in default) $492,654
Convertible notes payable (in default) $1,281,493
Long-term debt (non-convertible) note (in default) $232,114
Other payables (in default)  $106,058
Short-term notes (non-convertible) (in default?) $100,000
Trade payables (in default) $567,731
Total liabilities $4,523,913
Accumulated deficit ($6,420,452)

FY 2010 revenues and operating costs
Gross profit $25,438  
Cash $1,596
Operating loss ($1,161,467)
Net loss ($1,520,843)
Total losses since inception $6.2 million
$1.2 million+  Estimated liability from pending lawsuits

Q1 2011 revenues and operating costs
Gross profit $2,376 
Cash $3,529
Operating loss ($93,591)
Net loss ($176,476)
Total losses since inception ($6.420,452)
$1.2 million+  Estimated liability from pending lawsuits
Q1 2011: 100,000,000 new shares issued per month (ave.)
O/S 640Mil, A/S 750Mil (reported March 31, 2011)
Current A/S & O/S unknown
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=apru#getFilings
Quick Summary

1) No ownership of Apple Rush brand or trademark; no 2011 production cited,
2) No 2011 sales except minor draw-down of old inventory,
3) Apple Rush Co. (APRU) "Not in good standing" in Texas, its primary state  of incorporation; AR cannot legally transact ordinary business in USA;
4) Apple Rush Co. (APRU) corporate status revoked in Illinois, its headquarter state,
5) Courts have gaveled $644,000 in judgments against Apple Rush Co., Inc. to several plaintiffs for breach of contract; another $900,000 in damages is sought in pending legal lawsuits against Apple Rush Co. Inc.,
6) AR distributor (subsidiary Garden Distributing Inc.) dissolved,
7) No Chapter 11 bankruptcy protection from creditors and litigants which are owed ~$5 million by the firm,
8) No protection against future lawsuits,