2014 FINANCIAL FILED AUDIT A MUST READ & FUTUREAs usual, FNR filed their 2014 Financials and Audit last day of April, note other companies have filed much earlier.
I URGE ALL INVESTORS TO READ THE AUDIT and AUDITOR's Comments on GOING CONCERN" ITS IMPORTANT TO READ THE ENTIRE AUDIT.
THE 2014 FINANCIAL AUDIT IS A MUST READ - ESPECIALLY AUDITORS LETTER, DAVIDSON & Company, dated 4/28, Page 2 - Bottom of Audit - EMPHASIS OF MATTER:
"we draw attention to Note 1 in the consolidated financial statment which describes conditions and matters that indicate the existence of material uncertainty that may cast doubt about Forty Nine North ability as a going concern"
I urge the readers to go to Page 8 of the Audit, Note 1 - "GOING CONCERN" 4 paragraph's - read closely "PARAGRAPH 3 of the GOING CONCERN"
Now we have seen a number of 2014 audit's for juniors and FNR is not the only one that has GOING CONCERN notes by AUDITORS, the Going Concern Comments vary by company and Audiors work and opinion's.
Future of FNR will depend on Resource MKTS? ABILITY TO RAISE FUNDS? COVER DEBT? and etc.
FNR can raise some cash by selling off equities in public companies. FNR can reduce their expenses by cutting EXPENSES and CUTTING STAFF and CUTTING COMPENSATION, as other companies are publically doing, refer to the FINANCIAL PRESS on this subject, we see stories daily. FNR is not the only company that needs to cut expenses and compensation and etc. refer to the FINANCIAL PRESS DAILY.
All the above in my humble opinion and based on the Filed Audits on Sedar for 2014, Auditors comments, Financial MKTS, Resource MKTS and etc.
PS - there is a possible way/avenue, as I have suggested before for FNR to raise some funds but, they seem to know where?
If I have mistated or misquoted the 2014 Audit that is filed on Sedar FNR MGMT please correct me.