Progressive Green Solutions, Inc. has inadequate capital and need for additional financing to accomplish their business and strategic plans. Also note that this sector is highly competitive. With an accumulated deficit of $2,265,170, a net loss of $2,348,587 and net cash used in operating activities of $2,309,483 for the year then ended raise substantial doubt in the minds of their auditors about the company’s ability to continue as a going concern. If the company cannot continue as a going concern, its stockholders may lose their entire investment. They rely on only two clients so the loss of either customer could adversely affect their business. In summary, if there‘s not enough investor, this company will be bankrupt. It is impossible to know the float, probably in the hands of the insiders and that is why the price can vary from 41,61% in a single day with only $28,122 involved in 27 transactions!
