Replies to post #72425 on Sycamore Entertainment Group Inc (SEGI)

[Myth]

I disagree.....what does Convertible Note # 5 have to do with a 232 million dollar loss ?

Note 2 - Liquidity The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. The Company had cash and cash equivalents of $355,187, a working capital deficiency of $237,788,940 and an accumulated deficit of $240,159,857 as of December 31, 2020. The Company incurred a $232,358,010 net loss for the year ended December 31, 2020. Since inception, the Company’s operations have been financed primarily through the sale of equity and debt securities. The Company has incurred losses from operations and negative cash flows from operating activities since inception and expects to continue to incur substantial losses as it continues to fully ramp up its operating activities. While we expect to continue incurring losses in the foreseeable future, we successfully raised $2,650,000 in debt financing with no specific repayment terms, in 2020.




In April of 2021, the Company entered into an amendment with the noteholder for Convertible Note 5. The noteholder agreed to settle for $500,000 in cash and 30,000,000 common shares.