Service Team Inc (SVTE)

[Kallie]

This is what I would question the company sold 50 million shares (averaging the price at .007)and there is still debt its not gone. They also indicate they may sell more and then he puts in the filing O/S is 37 million. Not very creditable at all IMO. This does not include the shares sold for the convertible debt either. I was under the impression huge revenues and no debt which is far from the truth

Liquidity and Capital Resources

As of February 29, 2016, we had assets of $ 256 , 303 including current assets of $ 184 , 865 . We have accounts payable of $197,972, convertible notes payable of $69,463, accrued expenses of $101,757. Hallmark Venture Group, Inc. is prepared to advance us additional funds as needed. Accrued expenses are for work performed by employees during the organizational and operational stages of the Company. There is no firm date for which these are to be paid. It is to be repaid when we have funds available. Since inception we have also raised $354,382 from the sale of our common stock. We believe our ability to achieve commercial success and continued growth will be dependent upon our continued access to capital either through additional sale of our equity or cash generated from operations. We will seek to obtain additional working capital through the sale of our securities. We will attempt to obtain additional capital through bank lines of credit; however, we have no agreements or understandings with third parties at this time.