Xcelerate Inc (XCRT)

[mahatmapaul]

Still not out of the woods, boys and girls.

From the 1-K filed two weeks ago:

Going Concern
***
As of December 31, 2023, the Company had an accumulated deficit of $9,830,631 and negative working capital of $1,223,864.

Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations , this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans . The Company will be required to continue to do so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible.