GREY:ZMSPF - Post by User
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Pandoraon Apr 02, 2019 10:57pm
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Post# 29573876
RE:RE:RE:RE:RE:RE:Pandora & ZMS & Science
RE:RE:RE:RE:RE:RE:Pandora & ZMS & ScienceA couple of excerpts from the quarterly:
Going concern uncertainty:These consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern, which presumes that the Company will be able to realize assets and discharge its liabilities in the normal course of business for the foreseeable future. As at January31, 2019, the Company had limited operating revenue, a working capital deficiency of $3,473,442shareholders’ deficiency of $1,741,047, and negative operating cash flows of $3,637,663. The Company’s current revenue is not sufficient to sustain operations. These factors, among others, create significantdoubtas to the ability of the Company to continue as a going concern.
Subsequent Events:
ZIS offered a 2% equity interest in ZIS in exchange for USD 1.5million. The funds have been received but due to a declining share price, the Chinese investment group requested to renegotiate the investment and the parties agreed to make it a loan convertible to shares when the restructuring transaction is finalized. An additional USD 1.5 million was invested by the same investor during the quarter for an increase in equity interest. The terms have not been finalized to date.
Subsequent events(continued):(e)Subsequent thequarter end, the Company expects to receive approval from Hamamatsu for the delivery of LFS scintillation boules produced by the LFS Scintillation Crystal Facility in Shanghai, representing thousands of LFS scintillation crystals. The deliveries cannot bebook as revenue until they are examined and qualified by Hamamatsu