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People really shouldn't invest unless they can read

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bhumiartha   Wednesday, 09/04/13 11:01:40 AM
Re: RealRaynor post# 230
Post # of 278 
People really shouldn't invest unless they can read and understand company filings with the U.S. Securities and Exchange Commission.
Here is an extract from the company's most recent:

Note 2 – Going concern:

As at March 31, 2013, we are a passive investor in an operating oil and gas company and we hold a Mineral Rights Agreement (see note 4) which gives us the rights to certain oil and gas exploration leases. We continue to seek other oil and gas acquisitions that we can operate. While we have acquired an interest in certain mineral properties (Note 4) we expect to incur exploration stage operating losses until revenue generating operations commence, and for a period of time thereafter. We rely on our officers and directors to perform essential functions without compensation until a business operation can be commenced. We have entered into an agreement for funding of up to $2,500,000 (CDN) by way of an equity placement and a credit facility but we have not yet drawn down the first funding of $500,000 (Note 5). There can be no assurance that funds will be available from the credit facility if and when needed.

From inception through March 31, 2013, we have incurred operating losses of approximately $180,280, of which approximately $123,994 represents actual cash losses. At March 31, 2013, our cash on hand was $7,233.

These factors raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.


And this company is trading at $6 plus, despite all the warnings and all the exposure?
No sympathy for anyone who buys based on Schlotter, the Tighes, and the other crew of proven pumpers and dumpers.

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