Just read the beacon report... I know most companies at thsi level have similar statements... but,
"The Company has reported operating and net losses, negative cash flow and working capital, and an accumulated
deficit that raise doubts about its ability to continue as a going concern. UPDA has secured financing for its operations mainly by issuing shares of common and preferred stock and notes."
"Since UPDA begun its oil and natural gas operations, it has reported operating and net losses. Although the Company anticipates rising revenues in 2008, the Company currently must rely on external financing to fund its ongoing operations. Additional equity sales dilute the ownership interest of existing shareholders and more loans could constrain the Company’s operations by increasing debt service requirements."
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