"Structurally this $100,000+ USD financing consisted of two convertible debentures and two equity private placements (priced at $.0025 per share). A Form 8-K will be filed by the Company within the next few days, fully disclosing the terms and conditions of this financing."
Can't wait.
"The Company also believes that it has effectively preempted a major potential risk to shareholders by successfully addressing the issue of financing its FY '17 audit work at this relatively early period of time."
The year ended on Friday. The 10-K isn't due for 3 full months. Raising money now to assure that funds are in hand for the payment of auditors is silly.
The total bill for ALL of the 2016 work, including quarterly reviews, was $55,000.
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