Bravatek Solutions Inc (BVTK)

[IdiotsPenny]

10Q Posted 10/30/2017 for period ending 9/30/2017:


Uncertainty as a Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has an accumulated deficit of $36,689,373 and has a working capital deficit of $14,012,729 as of September 30, 2017, which raises substantial doubt about its ability to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future and/or obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has plans to seek additional capital through a private placement and public offering of its common stock. These plans, if successful, will mitigate the factors which raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.


In other words, BVTK owes a ton of money to lenders and may not be able to continue functioning without substantial injection of revenues from operations or diluting common shareholders by increasing the A/S or a RS. They've already been sued for not meeting their obligations to lenders (it's in the 10Ks).