The sinking ship. No one will finance a POORLY managed, unprofitable company with bad or unwanted product.
".bioMETRX is dependent on raising additional funding necessary to implement its business plan. bioMETRX' auditors have issued a "going concern" opinion on the financial statement for the year ended December 31, 2007, indicating a severe working capital deficiency, although the Company significantly increased the intellectual property of the Company,. These factors raise substantial doubt in bioMETRX' ability to continue as a going concern. If bioMETRX is unable to raise further funds or if revenues are insufficient to complete the development of its products and fund its operations, it is unlikely that bioMETRX will remain as a viable going concern."
