Cherubim Interests Inc (CHIT)

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From recent $CHIT SEC Filing - Going Concern

http://ih.advfn.com/p.php?pid=nmona&article=72828968

The audited financial statements for the year ended August 31, 2015, included in our annual report on the Form 10-K filed with Securities and Exchange Commission, have been prepared on a going concern basis, which implies that our company will continue to realize its assets and discharge its liabilities and commitments in the normal course of business. The continuation of our Company as a going concern is dependent upon the continued financial support from our shareholders, the ability of our Company to obtain necessary equity financing to achieve our operating objectives, and the attainment of profitable operations. As at May 31, 2016, our company has accumulated losses of $6,262,744 since inception. As we do not have sufficient funds for our planned operations, we will be required to raise additional funds for operations and expansion. Due to the uncertainty of our ability to meet our current operating expenses and the capital expenses noted above, in their report on the annual financial statements for the year ended August 31, 2015, our independent registered auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern. Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent registered auditors.

The continuation of our business is dependent upon us raising additional financial support. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

Amended Quarterly Report (10-q/a)
Date : 11/03/2016 @ 5:06PM
Source : Edgar (US Regulatory)
Stock : Cherubim Interests, Inc. (PL) (CHIT)
Quote : 0.0017 0.0 (0.00%) @ 8:00AM