Good lord, just POST it already...
The facts were spun to the negative like they always are. Here is every reference to "going concern" in the filing. Nowhere did they say "distinct possibility" whish is what was posted here. What was said, twice, is that management believes that their plan will KEEP ERHC as a going concern. Kinda the opposite of what was posted.
What is sad is that ANY of the people BICKERING about this could have chose to POST this instead of BICKERING.
"Going Concern
The accompanying consolidated financial statements have been prepared on the basis that the Company will continue as a going concern which contemplates the realization of assets and the satisfaction of liabilities in the ordinary and usual course of business. As of December 31, 2015, the Company has a working capital deficit and negative cash flows from operating activities. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on raising additional capital to fund ongoing exploration projects and ultimately on attaining future profitable operations. The Company is continuing with its plan to further seek new opportunity for farm-out its assets in Kenya, Chad and the Sao Tomé and Príncipe Exclusive Economic Zone. Management believes that the Company’s current operating strategy will provide the opportunity for the Company to continue as a going concern as long as the Company continues to obtain additional financing; however there is no assurance that this will occur. The financial statements do not include any adjustments that might result from the outcome of this uncertainty."
"Additionally, the Company’s financial statements as of December 31, 2015 have been prepared on the assumption that the Company will continue as a going concern."
"GOING CONCERN
Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure Their assessment is a result of our recurring operating losses and the continuing and immediate need for capital raising to fund operations. Management does believe it has created and is executing on a viable plan that has the capability of eliminating the threat to continuation of our business. This plan involves hiring outside professional services and continuing to seek for opportunity to farm-out its assets in Kenya, Chad and the Sao Tomé and Príncipe Exclusive Economic Zone. We will have to raise additional funds to continue our operations and, while we have been successful in doing so in the past, there can be no assurance that we will be able to do so in the future. Our continuation as a going concern is dependent upon our ability to obtain necessary additional funds to continue operations and the attainment of profitable operations."
People maintain anonymity for a reason and it is rarely noble.
AI
