BrewBilt Brewing Co (BRBL)

[jjo1fam]

how about i just list more of those facts off the 10q

As of June 30, 2013 the Company had ($254) in cash. Cash equivalents comprise certain highly liquid instruments with an original maturity of three months or less when purchased. As at June 30, 2013 and March 31, 2012, the Company did not have any cash equivalents.

These condensed consolidated financial statements have been prepared on a going-concern basis which assumes the Company will be able to realize assets and discharge liabilities in the normal course of business for the foreseeable future.

The Company has experienced substantial losses since its inception and has limited business operations, which raises substantial doubt about the Company ’ s ability to continue as going concern. The ability of the Company to
meet its commitments as they become payable, including the completion of acquisitions, exploration and development of oil and gas properties and projects, is dependent on the ability of the Company to obtain necessary financing or achieving a profitable level of operations. There is no assurance the Company will be successful in achieving these goals.

The Company does not have sufficient cash to fund its desired exploration for the next twelve months. The Company has arranged financing as described in Note 7 and intends to draw upon this financing arrangement to fund exploration, production and administration. This financing may be insufficient to fund expenditures or other cash requirements required to find, develop and exploit oil and reserves to the point of profitable operations. There can be no assurance the Company will be successful in finding oil and gas reserves. The Company plans to seek additional financing if necessary in private or public equity offering to secure future funding for operations. There can be no assurance the Company will be successful in raising additional funding. If the Company is not able to secure additional funding, the implementation of the Company ’ s business plan will be impaired. There can be no assurance that such additional financing will be available to the Company on acceptable terms or at all.

These condensed consolidated financial statements do not give effect to adjustments to the amounts and classification to assets and liabilities that would be necessary should the Company be unable to continue as a going concern.