I have trouble cutting through all the financial details and putting it together. It appears that the accumulated deficit has jumped $10,000,000 in the last quarter. Did I read that correctly?
Net operating loss carry forward
$21,502,000 (Nov. 30, 2006)
$31,373,000 (Feb. 28, 2007)
And what is this?
"During the six months ending May 31, 2007, no allocation of losses was made to the minority interest, because the Company’s 80% owned subsidiary, AmeriChip, Inc., is considered dormant and is not expected to conduct business in the future."
Dormant? Does that mean it's gone to sleep for good? Are we to expect a merger? Perhaps an offer of 'restricted' shares coming with a new name and symbol?
SeaPick |
