Nexteligent Holdings Inc (NXGT)

[elichen]

"The company is experiencing continued operating losses and has a high debt obligation. These conditions raise substantial doubt about the Company's ability to continue as a going concern".

(Copied from Quarterly Report, Published: Dec 10, 2015
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NOTE 2: GOING CONCERN
The Company sold the assets and business of Efftec in November 2012 and acquired Yam Yam. (See Note 7). The Company planned to raise capital utilizing debt and equity to fund the continuing development operations of Yam Yam, and is currently utilizing the same means to fund its current operations in the mobile application sector The company is experiencing continued operating losses and has a high debt obligation.

These conditions raise substantial doubt about the Company's ability to continue as a going concern. The accompanying consolidated statements have been prepared assuming that the Company will continue as a going concern. These consolidated statements do not reflect any adjustments that might result from the outcome of these uncertainties.