The liquidity and going concern you quoted are for $MDIN. The below is strictly for Magnifind. They have a product and have minimal sales but is wayy different from what you quoted and was out of context.
NOTE 3 - LIQUIDITY AND GOING CONCERN
These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred losses since inception except for 2015 because of a non- refundable grant ($50,000) and has received minimal revenues from sales of services while testing its product. Management’s plans include raising funds from loans and in the public markets. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
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