Mundus Group Inc (MNDP)

[Foxwoods Man]

I suggest everyone read the last quarterly report (3rd quarter) and do their own DD. This company is awash in debt, squabbling with Airstar and lost $1.1 million IN THE 3RD QUARTER vs. 990k for ALL OF 2009. Volume is not your friend...it is the company trying to stay afloat.

From the report:

Note 9 – Going Concern
It is noted that Airstar Inc. or Vario USA Inc. has a disagreement about their contract, and they are currently in dispute over its agreement in October 2010. This could affect the viability about both of the company’s future working operations with one another. Management states a going concern about the company’s future as of this 2010 fiscal year and in 2009 and 2008. The company has not been audited since 2007 and there has not been any valuation of assets.
In the audited annual report for the fiscal year 2007, the Company’s financial statements were presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
The Company has incurred a net loss of $1,128,453 for the 3rd Quarter ended October 31, 2010 and $990,941 for the year ended January 31, 2009 and $1,351,159 for the year ended January 31, 2008. In the prior two years the Company and Twin Hills combined incurred net losses of $1,727,915 and $2,279,360 for 2006 and 2005, respectively.
The going concern issues have been discussed with management in order to inquire about potential future plans designed to alleviate the concerns noted