Treaty Energy Corp. (fka TECO)

[caprock]

Ted check this out.

NOTE 4 – GOING CONCERN

The accompanying financial statements have been prepared assuming that Treaty will continue as a going concern. As shown in these financial statements, we have had continuing negative cash flows from operations and working capital deficits and have no productive assets as of September 30, 2009. These conditions raise substantial doubt as to our ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. Management intends to finance these deficits by making additional shareholder notes and seeking additional outside financing through either debt or sales of its common stock.

All of this from a company that is stating 12 billion in potential revenue.. I wonder if they will say we are in the gravel business next?!?

"we have determined that if all of the above programs could be completed, the collective reserves would include approximately $7 - $9 billion in oil reserves and over 1 trillion cubic feet of natural gas reserves that would be valued at about $4 billion in today's market"