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Friday, May 01, 2020 1:42:14 PM
Since inception, our operations have primarily been funded through private debt and equity financing, and we
expect to continue to seek additional funding through private or public equity and debt financing. Most recently, we
have funded our operations from the proceeds of convertible debt. However, we currently do not have sufficient
authorized shares of common stock to secure additional convertible debt funding. The recent Covid-19 worldwide
pandemic has negatively impacted capital markets adding to the difficulty of raising either debt or equity financing.
Our ability to continue as a going concern is dependent on our ability to generate sufficient cash from
operations to meet our cash needs and/or to raise funds to finance ongoing operations and repay debt. However, there
can be no assurance that we will be successful in our efforts to raise additional debt or equity capital and/or that our
cash generated by our operations will be adequate to meet our needs. These factors, among others, raise substantial
doubt that we will be able to continue as a going concern for a reasonable period of time.
The financial statements do not include any adjustments that might result from the outcome of any uncertainty
as to the Company's ability to continue as a going concern. The financial statements also do not include any
adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications
of liabilities that might be necessary should the Company be unable to continue as a going concern.
This sounds like they will be authorizing more shares. Or they will do a reverse split and then authorize more shares.
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