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Replies to post #73021 on Infrax Systems Inc (IFXY)
The Company's financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. At March 31, 2018 and June 30, 2017, the Company had $63 and $63 in cash, respectively, and $1,591,985 and $532,701 in negative working capital, respectively. For the nine months ended March31, 2018 and June 30, 2017, the Company had a net loss of $1,120,379 & $35,246. Continued losses may adversely affect the liquidity of the Company in the future. In view of the matters described in the preceding paragraph, recover ability of a major portion of the recorded asset amounts shown in the accompany ing balance sheet is dependent upon continued operations of the Company, which in turn is dependent upon the Company's ability to raise additional capital, obtain financing and to succeed in its future operations.
