Followers | 12 |
Posts | 2518 |
Boards Moderated | 0 |
Alias Born | 01/27/2011 |
Tuesday, August 14, 2018 10:30:12 PM
Dated 8/7/18
NOTE 3 – GOING CONCERN
The accompanying financial statements have been prepared assuming that the Company will continue as a
going concern, which contemplates continuity of operations, realization of assets, and liquidation of
liabilities in the normal course of business.
As reflected in the accompanying financial statements, the Company had an accumulated deficit at June 30,
2018 of $19,024,891 and its liabilities exceeded its assets. These factors among others raise substantial doubt
about the Company’s ability to continue as a going concern.
While the Company is attempting to commence operations and generate revenues, the Company’s cash
position may not be significant enough to support the Company’s daily operations. Management intends to
raise additional funds by way of a public or private offering. Management believes that the actions presently
being taken to further implement its business plan and generate revenues provide the opportunity for the
Company to continue as a going concern. While the Company believes in the viability of its strategy to
generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The
ability of the Company to continue as a going concern is dependent upon the Company’s ability to further
implement its business plan and generate revenues.
The financial statements do not include any adjustments that might be necessary if the Company is unable to
continue as a going concern.
https://backend.otcmarkets.com/otcapi/company/financial-report/199087/content
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM