RE:told you guys CHN makes $$$ohh, oh ... something smells with this one.
As at June 30, 2016, the Group has working capital deficiency of $2,142,064 (December 31, 2015: $3,544,157). In addition, the Group has trade and other payables, advance from a third party, loan payables, loan payables - related parties, and due to related parties to be matured within the next twelve months in the amount of $9,627,528 (December 31, 2015: $7,773,334). As at June 30, 2016, the Group has cash and cash equivalents balance of $1,630,350 (December 31, 2015: $1,594,835). The appropriateness of using the going concern basis is dependent upon, among other things, the acceptance of the education internet portal by the users to achieve a profitable level of operations by the Group. The outcome of these matters cannot be predicted at this time. Specifically, it is dependent upon the ability of the Group to obtain necessary financing.