Replies to post #263 on Global Energy, Inc. (fka GEYI)

[BRIG_88]

This is even worse...it looks like a TON more dilution is coming just to keep the doors open......it looks like 314 million outstanding shares is going to balloon from here

Going concern considerations

The accompanying financial statements have been prepared assuming that Global Energy Inc. ("the Company") will continue as a going concern. As of December 31, 2010, the Company had approximately $128 thousand in cash and cash equivalents, approximately $5,490 thousand in negative working capital, a shareholders’ deficit of approximately $4,613 thousand and an accumulated deficit during development stage of approximately $10,487 thousand. Management anticipates that the Company will continue to generate significant losses from operations for the foreseeable future, and that their business will require substantial additional investment that has not yet been secured. Management is continuing in the process of fundraising in the private equity markets as the Company will need to finance future activities and general and administrative expenses. These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to obtain additional financing as may be required and ultimately to attain profitability.