Well I hate to think this, but Cracker does have a point.
The Quarterly Report (10-08/02/2019) was not promising by reading it and Note 2. was no help. With no news at all this stock just all of sudden just starting running?
How many times have all of us seen this with other stocks with a big run suddenly it starting dropping like rocks.
This run just signal red flags to me and that is why I sold half of mine at .02 So its no risk for me at all now since I cover my investment with profit. We will see tomorrow if it runs or sinks.
If it is a pump and dump it will happen again and again at least two more times.
I hope not, but message boards should have two sides of a story and not be one sided because that is not good for all of us who are pondering on buying or selling.
I like how people starting ready Crystal balls on what is going to happen, get real. Like Cracker said this is the OTC.
All I can say don't get greedy and hate yourself in the morning. Cover you ass and do your own DD, the gut feeling does work.
Note 2. Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the nine months ended June 30, 2019, the Company had a net loss of $519,046 and negative cash flow from operating activities of $195,814. As of June 30, 2019, the Company had negative working capital of $740,331. Management does not anticipate having positive cash flow from operations in the near future.
These factors raise a substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.
The Company does not have the resources at this time to repay its credit and debt obligations, make any payments in the form of dividends to its shareholders or fully implement its business plan. Without additional capital, the Company will not be able to remain in business.
Management has plans to address the Company’s financial situation as follows:
In the near term, management plans to continue to focus on raising the funds necessary to implement the Company’s business plan. Management will continue to seek out debt financing to obtain the capital required to meet the Company’s financial obligations. There is no assurance, however, that lenders will continue to advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raise doubts about the Company’s ability to continue as a going concern.
In the long term, management believes that the Company’s projects and initiatives will be successful and will provide cash flow to the Company, which will be used to finance the Company’s future growth. However, there can be no assurances that the Company’s planned activities will be successful, or that the Company will ultimately attain profitability. The Company’s long-term viability depends on its ability to obtain adequate sources of debt or equity funding to meet current commitments and fund the continuation of its business operations, and the ability of the Company to achieve adequate profitability and cash flows from operations to sustain its operations.
