PINL:GRPOF - Post by User
Post by
av8tor42on Jan 02, 2018 5:45pm
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Post# 27265689
look again...
look again... Tetra Bio-Pharma Inc.
Notes to the Condensed Consolidated Interim Financial Statements Three and Six Months Ended May 31, 2017
(Expressed in Canadian Dollars)
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Going concern
These condensed consolidated interim financial statements (“consolidated financial statements”) have been prepared on the basis of accounting principles applicable to a going concern, which assume that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations as they come due. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. The Company has not yet determined whether its clinical trials will produce revenue generating pharmaceuticals or whether it will be awarded a license to produce medical marijuana from the Canadian Government. The Company has not generated any operating revenues or positive cash flows from its operations from inception to date. The Company has a deficit of $4,657,095 as at May 31, 2017 (November 30, 2016 - $1,902,885).