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Posts | 1835 |
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Alias Born | 08/11/2021 |
Sunday, September 03, 2023 7:20:34 PM
What's worse is the following in the GOING CONCERN section of the linked document (consider the implications of the emphasized parts):
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The Company’s financial statements have been prepared on a going concern basis, which assumes that it will be able to realize its assets and discharge its liabilities and commitments in the normal course of business for the foreseeable future. As of June 30, 2023, the Company had $31,338 of cash, an accumulated deficit of $32,864,455 and a loss from operations of $70,929. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its generating profitable operations in the future and/or to obtain the necessary financing to meet obligations and repay liabilities arising from normal business operations when they come due. The Company’s management intends to finance operating costs over the next year with the public issuance of common stock and related party loans. While the Company believes that it will be successful in obtaining the necessary financing and generating revenue to fund its operations, meet regulatory requirements and achieve commercial goals, there are no assurances that such additional funding will be achieved or that it will succeed in its future operations. The Company’s financial statements do not include any adjustments that may result from the outcome of these uncertainties.
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Again, it is what it is. The mismanagement team is generating a net loss and plans to dilute the stock and acquire more debt over the next year. The company said that, not me. Don't trust Lakota-45, as he seeks after ill-gotten gains at the expense of the naive. I won't tolerate that immoral and unethical behavior any longer, and no one else here should either. If people want to invest in $WDLF, that's fine... but let them do so while aptly informed of the risks.
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