Bullboard - Stock Discussion Forum Invesco Trust for Investment Grade Municipals VGM

Invesco Trust for Investment Grade Municipals (the Trust) is a diversified, closed-end management investment trust. The Trust's investment objective is to provide common shareholders with a high level of current income exempt from federal income tax, consistent with preservation of capital. It will invest substantially all of its assets in municipal securities rated investment grade at the time... see more

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Invesco Trust for Investment Grade Municipals > GLOBAL GARDENS GROUP WORKING CAPITAL LIKELY SPENT !

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Post by bohemian61 on Apr 03, 2017 10:53am

GLOBAL GARDENS GROUP WORKING CAPITAL LIKELY SPENT !

READ THIS VGM INVESTORS-----Global Gardens Group Inc. (formerly Global Gardens Group Acquisition Corp.) (the Company) is in the business of developing and selling plant-based beverages. The Company's business address is 130 - 10691 Shellbridge Way, Richmond, BC V6X 2W8. On May 29, 2015 the Company completed an amalgamation with Global Gardens Group Inc. whereby each shareholder of Global Gardens Group Inc. received a common share of Global Gardens Group Acquisition Corp. (the Amalgamation). The Transaction resulted in Global Gardens Group Inc. becoming a wholly-owned subsidiary of Global Gardens Group Acquisition Corp. On September 30, 2015 the Company completed a vertical amalgamation with its wholly-owned subsidiary Global Gardens Group Inc and changed its name to Global Gardens Group Inc. These financial statements have been prepared on a going concern basis which implies that the Company will continue realizing assets and discharging liabilities in the normal course of business for the foreseeable future. Should the going concern assumption not continue to be appropriate, further adjustments to carrying values of assets and liabilities may be required. On June 30, 2016, the Company had a working capital of $634,385 (September 30, 2015 - $1,998,111) and an accumulated deficit of $11,514,918 (September 30, 2015- $9,511,170) and continues to realize significant losses. Accordingly, the ability of the Company to realize the carrying value of its assets and continue operations as a going concern is dependent upon its ability to obtain additional financing as needed and ultimately on generating future profitable operations. These financial statements do not include any adjustments related to the carrying values and classifications of assets and liabilities that would be necessary should the Company be unable to continue as a going concern.