Dead in the water
From the first page of the financials:
Emphasis of Matter
Without modifying our opinion, we draw attention to Note 1 to the consolidated financial statements which indicates that the Company has no sources of recurring revenue and has incurred losses amounting to $23,067,963 since its inception. These conditions, along with other matters as set forth in Note 1, cast significant doubt about the Company’s ability to continue as a going concern
The notes, as well as the numbers are worth taking the time to read.
now before our resident cheerleaders come on here to post this is a rather routine clause attachment..it is not. It is worded differently than the standard clause
My thoughts:
Axi was insolvent and bankrupt as of FOUR MONTHS AGO.!! no new money has come in.
Looking at the expenses, virtually all money went to G&A expenses.
there is the matter of the ddebentures and the property does not have economic fefeasibility
the big ginger cheese has left for medical reasons.
i expect when rational thinkers go through the financials, we could literally see a penny stock price.
they have no money to move ahead, or even pay their bills right now. A 100 million share issue at .05 , besides diluting the stock to the consistency of water, would not allow them to advance.
Its over folks. Some of us made some money, some lost. And I suppose some will desperately hang on .