RE:RE:RE:RE:RE:RE:3.35 soon"Soory mikey but your number are just paranoia propaganda"
fortfry
no moron, my numbers are based on facts
Combined Deficit Is Now Over $117,000,000.00
3. Going Concern
There is substantial doubt about the Company's ability to realize the carrying value of its assets and discharge its liabilities as they come due. The Company requires additional equity or debt financing in fiscal 2015 in order to continue operations. The Company is currently evaluating the different options available. The continuance of the Company as a going concern is dependent upon, among other things, its ability to obtain additional financing, achieve positive operating cash flows and the on-going support of its shareholders, affiliates and creditors. For the nine month period ended March 31, 2015, the Company incurred a loss of $3,974,504 and had negative operating cash flows of $4,208,968. At March 31, 2015, the Company had negative working capital of $16,676,786 and an accumulated deficit of $104,158,715.
If the Company is unable to realize its assets and discharge its liabilities in the normal course of business, material adjustments may be necessary to the carrying amounts and/or classification of assets, liabilities and expenses in these interim financial statements.
https://www.sedar.com/
2. Going Concern
The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has experienced negative cash flows from operations since inception and has incurred a deficit of $13,118,602 through February 28, 2015.
As of February 28, 2015, the Company had a working capital deficit of $4,216,832. During the nine months ended February 28, 2015, net cash used in operating activities was $2,994,143. The Company expects to have similar cash needs for the next three months. At the present time, the Company does not have sufficient funds to fund operations over the next twelve months.
Implementation of our business plan will require additional debt or equity financing and there can be no assurance that additional financing can be obtained on acceptable terms. We have limited revenues to cover our operating costs. As such, we have incurred an operating loss since inception. This and other factors raise substantial doubt about our ability to continue as a going concern. Our continuation as a going concern is dependent on our ability to meet our obligations, to obtain additional financing as may be required and ultimately to attain profitability. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Management plans to meet its operating cash flow requirements from financing activities until the future operating activities become sufficient to support the business to enable the Company to continue as a going concern. The Company continues to work on generating operating cash flows from the commercialization of its software platform. Until those cash flows are sufficient the Company will pursue other financing when deemed necessary.
The Company is pursuing a number of different financing opportunities in order to execute its business plan. These include, short term debt arrangements, convertible debt arrangements, common share equity financings, either through a private placement or through the public markets and has engaged a number of investment brokers to assist management in achieving its financing objectives. During the nine months ended February 28, 2015, the Company raised $2,017,175 through various financial instruments net of repayments.
There can be no assurance that the raising of future equity or debt will be successful or that the Company’s anticipated financing will be available in the future, at terms satisfactory to the Company. Failure to achieve the equity and financing at satisfactory terms and amounts could have a material adverse effect on the Company’s ability to continue as a going concern. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and the Company may have to cease operations.
https://www.sec.gov/Archives/edgar/data/1511735/000121390015002699/f10q0215_yappncorp.htm