Electra Stone Ltd ELCGF

17,000,000 Accumulative deficit

[perky38]

https://www.stockhouse.com/news/press-releases/2013/12/03/electra-gold-ltd-interim-financial-statements-for-the-nine-months-ended

This company sounds like a western country, with all thier large deficits. These countries dilute thier currencies over time to pay off the old debts, Will ELT do that?. Or will they just knock off some zeros on thier currency, to revalue?. ELT has allot of outstanding shares, they can revalue, by knocking off some zeros off thier outstanding shares, will they issue more shares?. your opinions please?

I have a small poistion in ELT
M

These financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception. The Company has accumulated a deficit of $17,311,765 and has a working capital deficit of $1,058,848 at September 30, 2013. The Company’s ability to continue as a going concern is dependent upon its ability to obtain continued credit and operational support from its operational partners and management. Management plans to obtain increased net cash inflow from Customer revenues, additional customers for its products, lower operating costs, and share capital financing from shareholders and new investors. These conditions raise substantial doubt about its ability to continue as a going concern. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that might be necessary should the Company be unable to continue in business.
Read more at https://www.stockhouse.com/news/press-releases/2013/12/03/electra-gold-ltd-interim-financial-statements-for-the-nine-months-ended#v5TjA6BqMuSbvZU2.99