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Rodinia Oil Corp. V.ROZ



TSXV:ROZ - Post by User

Comment by highrideron May 02, 2013 11:30am
120 Views
Post# 21329509

Doesn't Look Good ...

Doesn't Look Good ...

Doesn't look very good .   They even mention it themselves in their latest financials.   Delisting ???   Time will tell.

 

 " As the Corporation is in the early stages of exploration, its ability to finance operations is dependent upon the

existence of economically recoverable hydrocarbons and its ability to obtain new sources of financing. The cost to

operate in Australia is extremely high and the Australian dollar has appreciated approximately 25% since the

planning stages of the original capital program, which has created additional challenges since the Corporation’s

financing activities have been undertaken in Canadian currency. These circumstances create significant doubt about

the Corporation’s ability to continue as a going concern and accordingly, the appropriateness of the use of

accounting principles applicable to a going concern.      "

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