GREY:SMDWF - Post by User
Post by
Czechlateon Sep 03, 2015 1:34am
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Post# 24074236
How do you get past this ?
How do you get past this ?Doing some DD and was all ready to buy 1/2 mil or so shares for a starter but then I went to sedar to go over the financials there and see what the debt scenario looked like. Thats when I saw this....
The Company has incurred losses since inception, has a working capital deficiency of $3,104,235, and an accumulated deficit of $28,663,928 at June 30, 2015 and expects to incur further losses in the development of its business. These conditions indicate the existence of material uncertainties which may cast significant doubt on the Company’s ability to continue as a going concern (
I agree with them that the cash flow problem and huge debt is significant. Where are they going to come up with money to continue operations? Does someone here know something I am not seeing? With total sales for last quarter at $139K and a loss of 1.79 million dollars how can they possibly survive?
What is supposed to act as a driver for the share price here? All I can see coming is a very bad financial position getting even worse. Too bad , they do have a great website.