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Re: None

Tuesday, 04/30/2013 7:58:01 AM

Tuesday, April 30, 2013 7:58:01 AM

Post# of 25333
The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America which contemplate continuation of the Company as a going concern. The Company has consolidated losses from operations of $5,781,038 for the 3 months ending February 28, 2013 compared to a loss of $799,589 for the same period ending February 28, 2012. There is a total accumulated deficit of $40,753,600 as at February 28, 2013, and a net loss of $7,930,191 for the nine months then ended. Furthermore, the Company has inadequate working capital to maintain or develop its operations, and is dependent upon funds from private investors and the financial support of certain stockholders.
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