No matter what, it looks as if your strategy will work again. Drop in stock price is directly attributable to the share count which is a reflection of lack of management.
As of October 21, 2008, 596,445,073 shares of $.001 par value common stock were outstanding
Current assets - liabilities is negative 4 million.
Cutting through all the BS on both sides, is there any business plan that gets it through another year?
Going concern
The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred material recurring losses from operations. At August 31, 2008, the Company had an accumulated deficit of $34,935,799, limited cash, and negative working capital. For the nine months ended August 31, 2008, the Company sustained a net loss of $2,775,832. These factors, among others, indicate that the Company may be unable to continue as a going concern for a reasonable period of time. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that may be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is contingent upon its ability to obtain additional financing and to generate revenue and cash flow to meet its obligations on a timely basis. Management is currently putting sales strategies in place which will, if successful, mitigate these factors which raise substantial doubt about the Company’s ability to continue as a going concern. |
