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Alias Born | 09/12/2017 |
Friday, November 29, 2019 1:32:54 PM
At July 31, 2019, we had no cash or cash equivalents or other assets, no operating business or other source of income and outstanding liabilities of $10,957 while our shareholders’ deficit was $8,641,493.
Consequently, we are now dependent on raising additional equity and/or debt to meet our ongoing operating expenses. There is no assurance that we will be able to raise the necessary equity and/or debt that we will need to fund our ongoing operating expenses.
It is our current intention to seek to raise debt and, or, equity financing to meet ongoing operating expenses and attempt to acquire, merge with or engage in a business combinations with another entity or entities to create value for our shareholders. There is no assurance that this series of events will be satisfactorily completed, and future losses are likely to occur.
As a result of these, among other factors, we received from our registered independent public accountants in their report for the financial statements for the years ended April 30, 2019 and 2018, an explanatory paragraph stating that there is substantial doubt about our ability to continue as a going concern.
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