Have any of you read the 10-Q
Some notable quotes from the 10-Q: Here are some of my issues.. Now don't get me wrong.. I made some big bank this week but I cashed out at 0016...
"If we are unable to secure additional financing to cover our operating losses until breakeven operations can be achieved, there is no assurance that we will be able to continue as a going concern."
"We have incurred significant net losses and negative cash flows from operations since our inception. As of October 31, 2013, we had an accumulated deficit of $10,513,158 and a working capital deficit of $2,020,192."
"As shown in the accompanying financial statements, for the three months ended October 31, 2013 and 2012 and since April 28, 2008 (date of inception) through October 31, 2013, the Company has had net income (losses) of $230,129, ($161,499) and ($10,513,158), respectively. As of October 31, 2013, the Company had not emerged from the development stage. In view of these matters, the Company's ability to continue as a going concern is dependent upon the Company's ability to begin operations and to achieve a level of profitability. Since inception, the Company has financed its activities principally from the sale of public equity securities. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources."
"For the three months ended October 31, 2013 and 2012, the Company had revenues of $1,112 and $0 respectfully. Since inception, the Company has earned $5,604 in revenues and has incurred cumulative net losses of $7,789,334. For the three months ended October 31, 2013 and 2012, we incurred operating expenses of $56,694 and $52,938, respectively, and we had net losses of $50,705 and $84,343, respectively. Our activities have been attributed primarily to start up and business development."
Other info: they have zero employees. The CEO, president and chairman is all the same person and is not paid as an employee. They rely strictly on consultants which is not a valid business plan, as consultants have no direct or financial interest in the company.
Does anybody have any insider information that has heard different?????
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