Can B Corp (CANB)

[stripus]

How long can WRAP continue as a going concern with pitiful and declining revenue and unstainable mounting toxic debt?
Revenues decreased $15,286 from $110,431 in 2015 to $95,145 in 2016. The decrease was due to the loss of business from certain customers.
As of December 31, 2016, the Company had cash and cash equivalents of $30,193 and a working capital deficit of $605,131. For the years ended December 31, 2016 and 2015, the Company had net losses of $665,050 and $3,591,723, respectively. These factors raise substantial doubt as to the Company's ability to continue as a going concern.  The Company plans to improve its financial condition by raising capital through sales of shares of its common stock.  Also, on January 23, 2017 (see Note 15), the Company entered into an agreement to acquire an entity in the business of manufacturing and distributing products containing the cannabinoid CBD, extracted from industry hemp legally imported from overseas. However, there are certain conditions precedent to closing of this transaction and it may not occur. Also, the Company plans to pursue new customers to attain profitable operations. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.