Lead Innovation Corporation (LEIC)

[TMilzSr]

I agree with the news about being long overdue. However your previous post about spending million dollars and ready for launch missed a crucial piece (section 7 - Going Concern) of the quarterly report.

From my take, it appears that the "related party" that purchased the licenses with a commitment to install several within 18 months went bust.

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7. Going Concern
The accompanying financial statements have been prepared in conformity with generally
accepted accounting principles, which contemplate the continuation of the Company as a
going concern. The Company reported accumulated deficit of $16,250,369 as of May 31,
2017. The Company also incurred net losses of $39,072 and $131,205 for the six month
periods ended May 31, 2017 and 2016, respectively. To date, these losses and
deficiencies have been financed principally through the loans from related parties.
In view of the matters described, there is substantial doubt as to the Company's ability to
continue as a going concern without a significant infusion of capital. At May 31, 2017,
the Company had minimal operations. There can be no assurance that management will
be successful in implementing its plans. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
We anticipate that we will have to raise additional capital to fund operations over the next
12 months. To the extent that we are required to raise additional funds to acquire
properties, and to cover costs of operations, we intend to do so through additional
offerings of debt or equity securities. There are no commitments or arrangements for
other offerings in place, no guaranties that any such financings would be forthcoming, or
as to the terms of any such financings. Any future financing will involve substantial
dilution to existing investors.