Jammin Java Corp (JAMN)

[OTCRIDER]

FORM 10-Q http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11984912
Filed 04/07/17 for the Period Ending 10/31/16


Accumulated deficit (37,043,901)

Note 2. Going Concern and Liquidity
The Company incurred a net loss of $7,798,151 for the nine months ended October 31, 2016, and has an accumulated deficit since inception of $37,043,901. The
Company has a history of losses and has lost its only source of revenue. These conditions raise substantial doubt about the Company’s ability to continue as a
going concern. The operations of the Company have primarily been funded by the issuance of debt instruments as well as the sale of its common stock. The
Company will, in the future, need to secure additional funds through future equity sales or other fund raising activities. No assurance can be given that additional
financing will be available, or if available, will be on terms acceptable to the Company.


Note 5. Discontinued Operations
On February 22, 2017, our license from 56 Hope Road to do business under the name Marley Coffee was terminated (See Note 4 above.). As a result the Company
has discontinued Marley Coffee and all related operations. Pursuant to the reporting requirements of ASC 205-20, Presentation of Financial Statements –
Discontinued Operations , the Company has determined that the Marley Coffee business qualifies for presentation as a discontinued operation because it represents
a component of our entity and the discontinuance of Marley Coffee operations represents a strategic shift in our business plans. Therefore, the Company has
reclassified the assets and liabilities of the Marley Coffee business as discontinued operations in the accompanying Consolidated Balance Sheets and presented the
operating results of Marley Coffee as discontinued operations, net of tax, in the accompanying Consolidated Statements of Operations and Consolidated Statements
of Cash Flows.

https://www.marleycoffee.com/