I guess you believe in the six (6) Strikes your out, theory of Finance.
1) No Hemp deals
2) No CBD Deals
3) No Pot Cultivation Expansion
4) No $10 million Income, "orders already on Books"for being "In
good position". w/ Chinese Cnnections" for PPE SALES. Should've been $100 million by now, if legit
5) No Income, for "In good positions, & with Chinese connection, already "have $30 million dollars, on the Books" in Restaurant Supply orders". "Huge demand for paper products, since Covid"...Should've been $100 million by now if legit company.
6) Likely No Income, from Budcars, for SGMD. 'till Deal Finalized. Deal not completed, Finalized yet, for 40% share of ownership. Deal w/ be finalized, when final payment made.
Then we have 1A report:
We have incurred losses since our inception, have yet to achieve profitable operations and anticipate that we will continue to incur losses for the foreseeable future.
Even if we obtain more customers or increase sales to our existing customers, there is no guarantee we will be able to generate a profit… If we cannot operate profitably, we may have to suspend or cease operations.
For the fiscal year ended June 30, 2019 we incurred an operating loss of $4,915,077. For the fiscal year ended June 30, 2018, we incurred an operating loss of $1,241,947. At June 30, 2019 we had an accumulated deficit of $47,088,950. Although we have generated substantial revenues, they are insufficient to make the Company profitable. We plan to increase our expenses associated with the development of our business. There is no assurance we will be able to derive revenues from the development of our business to successfully achieve positive cash flow…
We do not have sufficient cash on hand.
As of March 31, 2020, we had $7,510 cash on hand. These cash resources are not sufficient for us to execute our business plan. If we do not generate sufficient cash from our intended financing activities and sales, we will be unable to continue our operations. We estimate that within the next 12 months we will need at least $5,000,000 in cash from either investors or operations… Nor can we assure our shareholders that we will not be required to obtain additional financing on terms that are dilutive of their interests. You should recognize that if we are unable to generate sufficient revenues or obtain debt or equity financing, we will not be able to earn profits and may not be able to continue operations.
The Company sustained continued operating losses during the nine months ended March 31, 2020 and for the fiscal year ended June 30, 2019.. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations, in which it has not been successful..
AI
