Digital Brand Media and Marketing Group Inc (DBMM)

[rozzy]

Its obvious Many here have Not
read Any of the filings..

From the latest filings
https://ih.advfn.com/stock-market/USOTC/digital-brand-media-marketing-DBMM/stock-news/81535784/quarterly-report-10-q

The accompanying condensed consolidated financial statements have been prepared on a going concern basis. The financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern.

The Company has outstanding loans and convertible notes payable aggregating $1.7 million at November 30, 2019 and doesn't have sufficient cash on hand to satisfy such obligations. However, the Company generated proceeds of $96,733 from financing activities in the three months ending November 30, 2019. The Company also has a non-binding Commitment Letter from an investor of $250,000 which also includes a right of first refusal on additional capital raise up to $3 million which will contribute to satisfying such obligations and fund any potential cash flow deficiencies from operations for the foreseeable future.

Accordingly, the accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the financial statements do not necessarily purport to represent realizable or settlement values. The financial statements do not include any adjustment that might result from the outcome of this uncertainty.

Oh My