Solar Integrated Roofing Corp (SIRC)

[sbrisson]

The actual numbers are quite problematic not just the label. Even if label is out... Q1 numbers are really bad. Unless my reading is incorrect then burning cash at high rate of speed...


The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $10,071,179 at May 31, 2020, had a net loss of $455,586 and net cash used in operating activities of $318,930 for the year ended May 31, 2020. The Company’s ability to continue as a going concern is dependent upon its ability to repay or settle its current indebtedness, generate positive cash flow from an operating company, and/or raise capital through equity and debt financing or other means on desirable terms. If the Company is unable to obtain additional funds when they are required or if the funds cannot be obtained on favorable terms, management may be required to restructure the Company or cease operations.