Pegasus Tel Inc (PTEL)

[Bramabill]

Consider:
NEITHER Company has gone Bankrupt...

Neither company has any revenue, By definition, a company like PTEL is bankrupt when liabilities are greater than assets.

GOING CONCERN QUALIFICATION
In their Independent Auditor's Report for the fiscal years ending December 31, 2010, Robison, Hill & Co. stated that several conditions and events cast substantial doubt about our ability to continue as a “going concern.” At December 31, 2010, we had $289 cash on hand, $218 in accounts receivable and an accumulated deficit of $(.270,262 At September 30, 2011, we had $317 cash on hand, $208 in accounts receivable and an accumulated deficit of $(19,343,938). See “Liquidity and Capital Resources.”

WORKING CAPITAL
We had total assets of $507 and total liabilities of $212.905 resulting in a working capital deficit of $(212,398) for the year ended December 31, 2010. We had total assets of $525 and total liabilities of $511,715, resulting in working capital deficit of $(511,190) for the nine months ended September 30, 2011.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8266188