Excel Corporation (EXCC)

[patentminer2013]

So what you are saying is what's in the just released 10k is wrong? Read the whole statement and tell me which part is wrong?


The Company was not in compliance with certain of its financial covenants for the month ended January 31, 2017. As a result of the covenant breach, the debt is classified as current on the accompanying consolidated balance sheets in accordance with ASC 470-10-45. In accordance with ASU 205-40, the classification of the debt as current raises substantial doubt about the Company’s ability to continue as a going concern.