The MaryJane Group Inc. (fka MJMJ)

[DaddyR]

Yup, straight from the 10-Q, and straight from the definition of "Going Concern." Apparently, this is common practice in auditing and accounting of financial statements, and is not a bad thing, but rather a GOOD thing. https://en.wikipedia.org/wiki/Going_concern

Though it sounds dire, thats just to cover their asses for the risk side (because stocks and business are risky), but the statement actually means that the company intends to continue in business for AT LEAST the next year, and INTO the foreseeable future. That they intend to take care of all responsibilities, and that the auditor thinks they can. Here is a quick snippet of the definition, but the whole definition can be found in the link above..

The going concern principle allows the company to defer some of its prepaid expenses until future accounting periods.[2] The going concern assumption is a fundamental assumption in the preparation of financial statements. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading or seeking protection from creditors pursuant to laws or regulations. Accordingly, unless the going concern assumption is inappropriate in the circumstances of the entity, assets and liabilities are recorded on the basis that the entity will be able to realize its assets, discharge its liabilities, and obtain refinancing (if necessary) in the normal course of business.[3]

AND, I googled the actual going concern quote from MJMJ's 10-Q, and it's found in many financial statements, from many, many, many different companies. The EXACT SAME quote.
So I guess you can feel better about that statement now WOlf! Hope this helps. ;)