LOOK AT ALL THAT DEBT - CO. INSOLVENT!!! SCAM
CONman and Karen have been robbing bagholders blind for months thru this pandemic! Dilution Machine OVER 12B Shares and counting, funneling monies for their Retirement Funds. LFL has major DEBT and this SHELL has TOXIC NOTES all over it. READ THE FILINGS PEOPLE!
Note 2-Going ConcernThe accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. For the three monthsendedMarch31, 2021, the Company has incurred a net loss of $417,470and used cash in operations of $337,354. The working capital deficit, stockholders’ deficit and accumulated deficit was $4,392,562, $5,708,905and $6,521,928, respectively, at March31, 2021. Furthermore, the Company received judgementsfor its default on its payment obligations under the termsof a series of convertible notes and has other significantly past due operating obligations. It is management’s opinion that these matters raise substantial doubt about the Company’s ability to continue asa going concern for a period of twelve months from the issuance date of this report. The ability of the Company to continue as a going concern is dependent upon management’s ability to further implement its business plan and raise additional capital as needed from the sales of stock orissuance of debt. The Company has been implementing cost-cutting measures and restructuring or setting up payment plans with vendors and service providers and has restructured some obligations. The accompanying financial statements do not include any adjustments that might be required should the Company be unable to continue as a going concern.
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