Replies to post #14145 on Cannabis Science Inc (fka CBIS)

[dayadog]

not sure i agree with you

a going concern is a business that functions without the intention or threat of liquidation for the foreseeable future, usually regarded as at least within 12 months.
en.wikipedia.org/wiki/Going_concern

An actuarial valuation that the pension plan will continue indefinitely
www.pensionsatwork.ca/english/glossaries.php

The sale of the ongoing business of the company, often the preferred route of a Licensed Insolvency Practitioner since it usually means that the business continues, bobs are saved and a higher price is obtained
www.beerandyoung.com/glossary.php

this concept is the underlying assumption which any accountant makes when he prepares a set of accounts. That the business under consideration will remain in existence for the foreseeable future.
www.bized.co.uk/learn/sheets/glossary.htm

Realisations may be higher where it is possible to sell a trading business, rather than ceasing to trade immediately and selling the assets on a 'break up' basis.
www.lovewell-blake.co.uk/glossary.aspx

an ongoing operating business enterprise. Going Concern Value - the value of a business enterprise that is expected to continue to operate into the future. ...
www.corporatedoctor.com.au/pages/papers/glossary_valuation_terms.htm
The accounting concept that an company will have a continuing existence for the foreseeable future. If the auditor has a questions about the viability of the company, that information will be reflected in its opinion letter.
www.credittoday.net/public/2014.cfm

concept:-the business is assumed to continue operating instead of being closed/liquidated or sold or we can say that the business will continue its operation to the foreseeable future.
bookkeeping.a-z-finance.net/accounting-assumptions-principles-and-constraints/

[newmedman]

dayadoger is 100% correct.....It was what came after that got me.....We want to remain a going concern

[BIG bhapa]

Trust me buddy I work to assist auditors, if a company does not state any going concern that means the company is doing fine, if they have gone bankrupt, then they state the discontinued business operations, it's a big difference, and they tell you speficically they files for chapter 11.

And with CbIS, the going concern is when the auditor or internal auditors or CPA's have "substantial doubt" about a company's operations, it does not mean they will go bankrupt, but it suppose to give us investors an idea, that the company could stop operations and later in like a year or more go bankrupt, and mitigating factor to contribute to stop the "going concern" is that the company will issue new class of shares as dividend to stop this...and then in the next year you will see there is no "going concern" because that means it has been alleviated, and auditors or accountants do not give you the reason for the alleviation of doubt, they are only suppose to disclose "doubt", not the reasons why the "doubt stopped"....but they do however document those in the auditors Working Papers (WP)...trust me, I do this like 4-6 times a week to assist CPAs.