RE:Horrible fins once againLOL, twitter turds have been pumping they were going to be good fins and F500 revealed ha haha. Such twats. Here is straight from the FINS:
Going concern: The Company has not earned substantial revenue from the sale of its products and is, therefore, considered to be in the development stage.
During the three months ended July 31, 2017, the Company incurred a net loss of $911,885 and negative cash flow from operating activities of $738,809. In addition, the Company has negative working capital of $123,137 (July 31, 2016 a negative working capital of $1,111,037) and an accrued deficit of $36,985,507 (July 31, 2016, $32,542,249).
The continuation of the Company's product development and marketing activities is dependent upon the Company's ability to successfully fund its working capital requirements through either debt or equity financing. There is significant doubt about the appropriateness of the use of the going concern basis of presentation because
management has forecast that the Company's current level of cash and cash equivalents will only be sufficient to execute its current planned expenditures for 2 to 3 months.
The Company is actively pursuing financing alternatives to provide additional funding. Management believes that it will complete one or more arrangements in sufficient time to complete its planned expenditures with minimal interruption; however, there can be no assurance that the capital will be available as necessary to meet these continuing expenditures or, if the capital is available, that it will be on terms acceptable to the Company.
BiggieSmall wrote: 20k in rev with 900k spending... You think the NYC venue and Failed500 would have amounted to something significant... They have the same spiel about fixing wifi and wifi global market... They're done.