Anavex Life Sciences Corp (AVXL)

[abew4me]

Yes. Anavex was in deep financial trouble when Dr. Missling took over. Below is a statement from their 10k back in 2013.


"The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 1 to the consolidated financial statements, the Company had an accumulated deficit of $41,204,972 and negative working capital of $1,559,211 at September 30, 2013 and incurred a net loss of $3,700,046 for the year then ended. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter."

/s/ BDO USA, LLP

New York, NY
December 30, 2013

Compare that to today's financial condition that the company has no debt and over $143 million in the bank...is indeed a financial accomplishment!