Solar Energy Initiatives Inc (SNRY)

[EmptyBones]

THIS IS A NIGHTMARE!! I was going to buy tomorrow but after DD
Note 2 – Going Concern


As reflected in the accompanying financial statements, the Company has a net loss of $583,884 for the nine months ended April 30, 2013; and an accumulated deficit of $17,768,990 at April 30, 2013.


These factors, among others, raise doubt about the Company ’ s ability to continue as a going concern. The accompanying financial statements do not include any adjustments related to recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern.


In response to these problems, management has taken the following actions:

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The Company is seeking third party debt and/or equity financing;

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The Company is cutting operating costs, and

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As described in Note 6, the Company has been involved in numerous acquisitions with the intent of achieving a level of profitability