Saean Group Inc. (SEAN)

[bell345]

Wonder what happens if MyECheck, goes bankrupt as stated in their last 10Q: "the ability of the Company to continue as a going concern is dependent on Management's plans, which include the raising of capital through debt and/or equity markets. The Company will require additional funding during the next twelve months to finance the growth of its current and expected operations and achieve strategic objectives. Additionally, the Company will need to continually generate revenues through its current business operations in order to generate enough cash flow to fund operations through 2016."

As reflected in the accompanying consolidated financial statements, the Company had a net loss of $3,660,413 in 2015 and a net income of $55,680, in 2014, and net cash used by operations of $570,818 and net cash provided by operations of $61,369 for the nine months ended September 30, 2015 and 2014, respectively. The Company had a working capital deficit of $2,566,277 at September 30, 2015 and $1,345,517 at December 31, 2014 and a stockholders’ equity of $577,033 at September 30, 2015 and a stockholders’ deficit of $1,193,035 at December 31, 2014.

The company is sending out money (losing) with every transaction!

http://ih.advfn.com/p.php?pid=nmona&article=69646897