Thursday, May 16, 2013 8:28:18 AM
The Company will require additional funding of between $2,000,000 and $3,500,000 during the balance of fiscal 2013 to finance the growth of its current and expected future operations as well as to achieve its strategic objectives. The Company believes its current available cash along with anticipated revenues may be insufficient to meet its cash needs for the near future. There can be no assurance that financing will be available in amounts or terms acceptable to the Company, if at all.
In response to these problems, management has taken the following actions:
· continue with the implementation of our business plan;
· generate new sales from expanded retail distribution of EnerJel™, PowerFuse™ and ElectroFuse™;
· seeking additional third party debt and/or equity financing;
· continue facilitation of licensing efforts; and
· allocate sufficient resources to continue with advertising and marketing efforts.
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