RE:RE:RE:RE:RE:RE:Wow news is hard to come bynaimarantz wrote:
Nice try. Read it again....CNZ has no deficit and no debt.
As per SEDAR - Interim financial statements/report - May 30 2016
Page 6 - 1. Nature of operationsand going concern
"
Several adverse conditions cast substantial doubt on the validity of the going concern assumption. The Company has not generated revenue from operations. The Company incurred a net loss of $227,969 during the nine months ended March 31, 2016 and, as of that date the Company’s deficit was $12,385,886. At March 31, 2016, the Company has cash resources of $3,693 to settle its current liabilities of $1,177,188 representing a shortfall of $1,173,495. These circumstances lend substantial doubt as to the ability of the Company to meet its ongoing obligations as they come due, and accordingly, the appropriateness of the use of accounting principles applicable to a going concern. The Company’s ability to continue as a going concern is dependent upon raising additional capital to meet its present and future commitments, the continued support of certain shareholders and trade creditors and on achieving profitable commercial operations. " "