Writ Media Group Inc. (WRIT)

[rexiey2k]

They filed their finacial statement for the period ending 9/2011.
Basically the same as previous one except bigger losses and more dire news. Also they issued 80 million more shares which bring the total to over 500 million which is 350 million more than when the intial offering came out. No secret why it's tanking.

As reflected in the accompanying consolidated financial statements, the Company has accumulated deficit of $349,879 that includes losses of $335,171 for the six months ended September 30, 2011. The Company also had a working capital deficiency of $480,915 and negative additional paid-in capital of $136,065 as of September 30, 2011. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The consolidated financial statements have been prepared on a going basis and do not include any adjustments that might result from the outcome of this uncertainty.


Although management is currently attempting to implement its business plan, and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful.