ABC's Monthly Report Submitted to CNSX - Apr 7, 2015
"As disclosed in the latest financial statements, there were a number of credit facilities, which came due during the last reported quarter and continue to come due on a regular basis. These facilities are either renewed or repaid in the normal course of business.
As indicated in the SEDAR filings of October 28, 2014, the Company’s auditors, Manning Elliott LLP have resigned effective October 8, 2014. As stated in these filings, there have been no reportable events in connection with the resignation of Manning Elliott LLP.
Further, as indicated in the SEDAR filing of January 13, 2015, effective December 18, 2014, MNP LLP have been appointed to replace Manning Elliott LLP as the Company’s auditors.
Other than the above, there were no expiry or termination of any material contracts or agreements between the Issuer, the Issuer’s affiliates or third parties during the preceding month."
Moreover; "As disclosed in the Company’s financial statements, the Company has incurred a significant net loss as a result of a decline in gross margin. Further operating losses may result in future going concern issues if they are not adequately addressed by management."
The report submitted does not highlight any new developments for ABC, other than confirm no new derogatory information. It's safe to presume that management continues to work with Beidahuang Group. Through its consolidation with Beidahuang Group it would seem fair to expect economies of scale to be reached once more and ABC's plants would kick back into production under some sort of profit sharing arrangement.
DYODD. Best of luck to all, and now we wait for that snap, crackle, pop from any good news with Beidahuang Group.