Being far from an expert at reading these things, I copied this out of the beginning (actually the top of their page 8).........What does everyone make of the 2nd paragraph below:
"Limited Working Capital; Financial Instability
As of December 31, 1998, the Company had a negative stockholder's equity of $8,004,726, an accumulated deficit of $37,888,635, and a working capital deficit of $8,892,289. The Company anticipates that the eventual resolution of the bankruptcy proceeding will reduce the consolidated working capital deficit.
Various factors affecting the Company's operations raise doubt as to the Company's ability to continue as a going concern. There can be no assurance that the Company will be able to continue as a going concern or achieve material revenues or profitable operations. The Company requires additional financing. In
this event, no assurances can be given that such financing will be available in the amount required or, if available, that it can be on terms satisfactory to the Company." |
