Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

SPoT Coffee (Canada) Ltd V.SPP

Alternate Symbol(s):  SCFFF

SPoT Coffee (Canada) Ltd. (SPoT) is a Canada-based company, which designs, builds and operates community-oriented cafes. SPoT operates Company-owned cafes in Canada and the United States. The Company has a total of approximately 25 cafes operating, in development or under construction in the states of New York and Connecticut, including seven corporate-owned cafes located in Buffalo, Rochester, Saratoga Springs, Elmwood, Glens Falls, Orchard Park and North Tonawanda, 11 Operating Franchise cafes Kenmore, Hertel, West Hartford, Hamburg, Roswell Park, Clarence, Williamsville, Waterfront Village, Amherst, West Seneca, Niagara Falls and five SPoT Tops cafe locations, two Express cafes operating under license to Chartwells at the Buffalo State College. Its wholly owned subsidiaries include SPoT Coffee International Inc., SPoT Coffee Buffalo Inc., SPoT Coffee Transit Inc., Valshire SPoT Inc., SPoT Tonawanda, LLC and SPoT Orchard Park, LLC.


TSXV:SPP - Post by User

Post by goldfanaticon Jan 01, 2021 10:17am
436 Views
Post# 32207090

Worthless company really.

Worthless company really.

As of 9/30/2020:

 

Current Assets: $918,700

Current Liabilities: $5,419,356

 

Management believes that the future success of the Company depends primarily upon its ability to raise future capital to implement its comprehensive business plan. While the Company is using its best efforts to achieve its business plans by exploring further financing opportunities, there is no assurance that the Company will be successful in obtaining acceptable financing. These interim unaudited consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary in the event that the Company is unable to continue as a going concern. 

 

Such adjustments could be material. 

 

 

 

Long-term Liabilities:

 

Q4 2018: $264,121    Q3 2020: $3,967,305

 

Spot will never be able to pay back those liabilities. They are virtually bankrupt. 
Even if they were operating normally, the debt burden is too onerous and can not be repaid.

<< Previous
Bullboard Posts
Next >>