Paradigm Medical Industries Inc. (PDMI)

[El_Jefe42]

Read page 6 of the 14Q1 financials regarding 'Going Concern' ...

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Historically, the Company has not demonstrated the ability to generate sufficient cash flows from operations to satisfy its liabilities and sustain operations, and the Company has incurred significant losses.

Moreover, during the three months ended March 31, 2014, the Company had no in revenues and, as of March 31, 2014, had no cash in the bank. The Company lacked the necessary financial resources during the quarter to purchase inventory and pay employees to manufacture and assemble the Company's products. As a result, the Company was unable to fill orders for its products due to insufficient financial resources. Additionally, the Company has been unable to continue development as its products because of a lack of funding. Accordingly, the Company is no longer a going concern.

The Company is currently inactive, with no business operations, paid employees or corporate office. The Company has been unable to continue as a going concern because of its inability to generate sufficient income and cash flow to meet its obligations on a timely basis and obtain additional financing as required. The Company is actively seeking additional capital and fmancing but there can be no assurance that it will obtain such additional capital and financing. Without additional capital and fmancing, the Company will be unable to resume its business operations.

http://www.paradigm-medical.com/Library/Quarterly_Report_033114.pdf