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Wednesday, December 15, 2021 11:04:13 AM
3. Going Concern
The accompanying unaudited consolidated financial statements have been prepared on a going concern basis. The ability of the Company to continue as a going concern depends on the ability of the Company to continue generate revenues from operations sufficient to cover its operating costs, to raise more capital or obtain new sources of financing sufficient to sustain operations. Management anticipates (but cannot guarantee) that the Company will indeed be able to generate operating income and sufficient cash flows in the near future to become self-sustaining and that it will be successful in obtaining financing to enable it to implement its business plan for 2022. However, these Financial Statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern.
5. Contingency
In recognition of past services performed for the Company, the Company’s Directors intend to approve the issuance of 50,000,000 restricted common shares to Eduardo Garcia, the Company’s CEO; 25,000,000 restricted common shares to Reggie Bergeron, the Company’s Senior VP of Operations, and 10,000,000 restricted common shares to Richard Gilbert, the Company’s Executive VP, sales and business development. At the date of this filing, the aforementioned common shares have not yet been authorized or issued.
(restricted shares suggest, to me, there's something furure-oriented to stick around for)
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