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Wednesday, December 23, 2020 12:22:15 PM
The Company is in its development stage and has limited operating history.
The Company has limited operating history. The Company will need to continue building its organization and team to competently evaluate and develop sophisticated aerospace and other technologies, including new aircraft. Since the new members of the team will not have worked together, there will likely be personnel changes as the Company proceeds, which may cause disruptions in workflow. The Company is also in the process of building out its location, which will require proper implementation of security protocols, IT infrastructure, a project management system, policies and procedures, in addition to meeting the demanding reporting requirements as a new public company. These challenges will place additional demands on management’s time which may create temporary delays in executing the Company’s business plan or in the development process.
The Company anticipates significant operating losses into the future and additional capital may be required.
Since the Company is still in the process of acquiring and developing technologies, including a new type of aircraft, there is no revenue and there will be significant operating losses into the foreseeable future. There is no assurance that the Company will be able to raise the capital that will be required to sustain operations and execute its business plan, which involves raising capital for acquisitions. Furthermore, any equity or debt financings, if available at all, may be on terms which are not favorable to the Company (and therefore its shareholders) and, in the case of a new equity offering by the Company, existing shareholders will be diluted unless they purchase their proportionate share of the equity offering. If adequate capital is not available on economically viable terms and conditions, the Company’s business, operating results and financial condition may be materially adversely affected.
https://www.otcmarkets.com/filing/html?id=14417422&guid=OncqUHcmvreCpth#BANJ_10K_HTM_ITEM1A
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