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Microcap & Penny Stocks : LRSY Reporting shell looking for a business
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To: SSP who wrote (6)5/1/2000 5:52:00 PM
From: Jim Bishop  Read Replies (2) of 41
 
LASER RECORDING SYSTEMS INC has filed a Form 10-K405 (Annual Report) with
the United States Securities and Exchange Commission.

Click on the following hyperlink to view this filing:
freeedgar.com

"Liquidity and Capital Resources

The Company's financial statements have been prepared assuming that it will
continue as a going concern. As shown in the consolidated financial statements,
at January 31, 2000 the Company had total assets of $6,634 and an accumulated
deficit of $7,402,426. The Company obtains its entire financial support from
loans from the Company's majority shareholder, and it is likely that additional
loans from that shareholder will be necessary if the Company is to pursue its
plans to merge with an operating enterprise. These factors, among other things,
raise substantial doubt about its ability to continue as a going concern. The
consolidated financial statements do not include any adjustments relating to the
recoverability and classification of recorded asset amounts or the amounts or
classification of liabilities that might be necessary should the Company be
unable to continue in operation."
Click on the following hyperlink to manage your Watchlist:
freeedgar.com.
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