>The Company has incurred net losses since its inception creating an accumulated deficit balance of $7,904,236 and $6,541,062 at December 31, 1996 and 1995, respectively. Additionally, there is a working capital deficit of $1,169,443 and $262,780 at December 31, 1996 and 1995, respectively. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management intends to make an equity financing which will infuse additional working capital into the Company so that it can exploit and develop its newly acquired oil and gas properties, thereby generating a positive cash flow.
What is equity financing? does it means more common share dilution? |
