GREY:SYXXF - Post by User
Post by
mountainposeon Oct 01, 2014 10:22am
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Post# 22986282
Accountants have "Going Concern" on company.
Accountants have "Going Concern" on company.( Personally I do not know how they are going to do this). These consolidated financial statements have been prepared on a going concern basis which contemplates the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. The Company has incurred significant losses since incorporation and as at January 31, 2014, the Company has an accumulated deficit of $17,302,337 (October 31, 2013 - $16,618,836). The Company's ability to continue as a going concern is dependent upon achieving profitable operations and the ability to obtain additional debt or equity financing. The outcome of these matters cannot be predicted at this time. These consolidated financial statements do not reflect the adjustments, of which some could be material, to the carrying values of assets and liabilities and the reported expenses and consolidated statements of financial position classifications that would be necessary if the going concern assumption were to be determined to be inappropriate.