BioNitrogen Holdings Corp. (BIONQ)

[LongRun8]

yah, the whole accounts receivable is vague.

one thing that was concerning to me was...

on p.8 of the March financial statements they said,
"Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern."

However, on p.5 of the June financial statements they said,
"we do not believe that we will have sufficient cash to meet our short-term capital requirements..."

In June 2012 they said the did NOT think they would have sufficient funds, but in March they said "management believes." Clearly, their feelings in March weren't very reassuring either, but at least they thought they could continue. In June it said they didn't think they could. That is not promising, but considering we are already almost done with another full quarter, hopefully they have changed their mind about their ability to continue!

I have a question for the more experienced traders out there. For total outstanding shares it says 200,500,187. For free trading it says 100,504,262. So I'm a novice but does that mean 200 million shares are available to the public to be traded but only 100,504,262 have been sold from the company so far? If that's correct, then hopefully they don't need to water down the stock by issuing more, they still have plenty to sell. They just need to sell them!

Thanks.