Where is SRA headed? Ask the AuditorsThe Company is in the exploration stage and has not earned revenue from operations. During the nine months ended June 30, 2019, the Company incurred a net loss of $189,683 and cash flows from operating activities of $6,638. In addition, the Company has a working capital deficit of $225,392 and a deficit of $3,190,192.
The Company’s ability to continue as a going concern, realize its assets and discharge its liabilities in the normal course of business in fiscal year 2019, meet its corporate administrative expenses and continue its exploration and research activities, is dependent upon Management’s ability to obtain additional financing, through various means including but not limited to equity financing. No assurance can be given that any such additional financing will be available or that it can be obtained on terms favourable to the Company
the way I read that...mangement was the source of 50% funding. Not a lot of interest from Mr Market in a hard rock lithium project
Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company manages its liquidity needs by carefully monitoring cash outflows due in day-to-day business as well as any anticipated transactions. The Company has a working capital deficit of $225,392 at June 30, 2019, including $7,637 in cash and current liabilities totalling $633,532, due within the next 12 months. There has been no change to Management’s assessment of liquidity risk compared with the prior year
JMHO