![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, October 25, 2016 7:37:24 PM
What exactly does this mean?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11644541
In the future we will rely on cash flow financing activities to fund our capital expenditures and to support our working capital requirements. We expect that future cash requirements will principally be for capital expenditures and working capital requirements.
We have generated no revenues since our inception and have incurred an accumulative deficit of $3,265,443 as of June 30, 2016. We anticipate that we will continue to incur net losses in the near term, and we may never be able to achieve profitability. We expect to continue to incur losses for the foreseeable future. In order to achieve profitable operations we need to generate significant revenues from fees earned from the business. We cannot be certain our business strategies will be successful or that we will generate significant revenues and become profitable. With respect to our promissory note, preferred stock dividend and unpaid debt obligations ($364,125, $15,065 and $616,030, respectively), it is not the intention of the Company to utilize proceeds of this offering to satisfy those obligations. Rather we intend to negotiate deferrals in payment such that these obligations may be paid from operating revenues when available. To the extent that certain of these obligations cannot be deferred, we will need to obtain additional public or private equity financings or debt financings in order to continue operations.
Is Escue Energy using some of the same tactics that Gary F Kimmons used that ended up leading to multiple Reverse Splits?
FEATURED ELEMENT79 ANNOUNCES UPLISTING TO OTCQB VENTURE MARKET • Aug 26, 2024 10:03 AM
North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • NBRI • Aug 26, 2024 10:00 AM
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM
Maybacks Adds Award Winning Show to Its Lineup Discusses Maybacks Opportunity • AHRO • Aug 22, 2024 11:30 AM
North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz./ton Silver, Sierra County, California • NBRI • Aug 22, 2024 10:28 AM