Strattner Financial Group (SCNG)

[REmde]

How legit is EVFL?
This is from their June 30, 2009 financial statements:

"Going Concern
Evolution has incurred significant losses from operations through June 30, 2009 and has limited financial resources. The Company has a significant accumulated deficit, negative current ratios and negative tangible net worth at June 30, 2009 and December 31, 2008. These factors raise substantial doubt about our ability to continue as a going concern.
Management intends to raise capital through other offerings, secure collateralized debt financing and use these sources of capital to grow and enhance its alternative fuel production and distribution operations. If additional funds are raised by issuing debt, we may be subject to restrictive covenants that could limit our operating flexibility. Evolution’s performance will also be affected by prevailing economic conditions. Many of these factors are beyond Evolution’s control. There can be no assurance that adequate funds will be available when needed and on acceptable terms, or that a strategic alternative can be arranged. The accompanying financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.
These items, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amount and classification of liabilities that may result from the outcome of this uncertainty.
There can be no assurance that any of management’s plans as described above will be successfully implemented or that the Company will continue as a going concern.

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