Replies to post #12319 on Oncologix Tech Inc (OCLG)

[rarefind]

Loss on conversion of notes payable decreased to $0 for the three months ended May 31, 2015, from $57,197, for the comparable period in fiscal 2014. The decrease was due to conversions of only substansive convertible notes in fiscal 2015.

Loss on conversion of notes payable decreased to $0 for the nine months ended May 31, 2015, from $93,577, for the comparable period in fiscal 2014. The decrease was due to conversions of only substansive convertible notes in fiscal 2015.

LIQUIDITY AND CAPITAL RESOURCES

Since March 2013, we have acquired five companies. While these acquisitions greatly increased the value of our Company, we are not fully cash flow positive. Cash flows from the issuances of promissory notes and common stock for cash are not sufficient to meet our working capital requirements for the foreseeable future or provide for expansion opportunities. We incurred $1,494,097 and $1,152,393 in net losses, and we used $390,970 and $450,662 in cash for operations for the nine months ended May 31, 2015 and 2014, respectively. Investing activities used $563,017 and $67,232 for the nine months ended May 31, 2015 and 2014, respectively, due primarily to our acquisition of Esteemcare. Net cash generated from financing activities for the nine months ended May 31, 2015 and 2014 was $1,059,126 and $664,818, respectively. As of May 31, 2015, we had a cash balance of $120,485. These conditions raise substantial doubt about our ability to continue as a going concern.

We anticipate that we will require approximately $1,000,000 to operate through August 31, 2015. Approximately $500,000 will be required to fund corporate overhead including debt servicing with the balance to invest into raw material inventory, manufacturing and new product development at Dotolo, as well as begin sales activities with AMPT. Additional funding will allow us to meet our current sales demands and expenses of Dotolo, Amian Angels and Oncologix, while keeping our public filings current.

As of May 31, 2015, we had total outstanding short-term and long-term debt and liabilities totaling $4,901,157 net of discounts. Please see Note 11 for further information.

Cost of revenues increased to $885,596 for the three months ended May 31, 2015, from $788,757 during the comparable period in fiscal 2014. Cost of revenues for Dotolo were $0 for the three months ended May 31, 2015. Cost of revenues for Amian Angels were $698,215 for the three months ended May 31, 2015 and consist primarily of wages paid to personal care service employees who directly provide the PCA and SIL services. Cost of revenues for Esteemcare were $187,371 for the three months ended May 31, 2015 and consist primarily of purchases of leased and sold inventory.

-47-Revs up but the cost of the revs were up huge....company in dire straights

Cost of revenues increased to $2,628,797 for the nine months ended May 31, 2015, from $2,066,800 during the comparable period in fiscal 2014. Cost of revenues for Dotolo were $0 for the nine months ended May 31, 2015. Cost of revenues for Amian Angels were $2,129,572 for the nine months ended May 31, 2015 and consist primarily of wages paid to personal care service employees who directly provide the PCA and SIL services. Cost of revenues for Esteemcare were $499,225 for the nine months ended May 31, 2015 and consist primarily of purchases of leased and sold inventory.

Research and Development Expense