3.5 Million in debt. Stay away from this stock. Going Current isn't going to help this disaster of a so called Company.
2. Going Concern
NSL’s financial statements are prepared using Generally Accepted Accounting Principles applicable to a
going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of
business. However, NSL has generated minimal revenue and accumulated significant losses since
inception. As of September 30, 2018, company has accumulated a deficit of $2,533,041 and a working
capital deficit of $1,080,821. All of these items raise substantial doubt about its ability to continue as a
going concern. Management’s plans with respect to alleviating the adverse financial conditions that caused
management to express substantial doubt about the NSL’s ability to continue as a going concern are as
follows:
In order to fund the start-up of operations during the period ended September 30, 2018, management plans
to enter into several financing transactions and try to raise funds. The continuation of the Company as a
going concern is dependent upon its ability to generating profitable operations that produce positive cash
flows. If the Company is not successful, it may be forced to raise additional debt or equity financing.
There can be no assurance that the Company will be able to achieve its business plans, raise any more
required capital or secure the financing necessary to achieve its current operating plan. The ability of the
Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan
described in the preceding paragraph and eventually attain profitable operations. The accompanying
financial statements do not include any adjustments that might be necessary if the Company is unable to
continue as a going concern.
