RE:Insiders Dumping
Probably going to put in a bid at one cent and if I get them fine and if I do not that is okay. But I will not chase a stock that is a pure gamble and will not put much into it. Will treat it like going to the ponies.
Remember that you do not buy or sell a stock just because someone else on this board does.
1. NATURE OF OPERATIONS AND GOING CONCERN
Canadian International Pharma Corp., (the “Company”) was incorporated under the laws of the Province of British Columbia and is currently trading on the NEX Board of the TSX Venture Exchange (Trading Symbol: CIP.H). The Company was previously engaged in in the acquisition and exploration of mineral resource properties, however, its intention is to pursue new business opportunities in the area of pharmaceutical and nutraceutical manufacturing and distribution.
These consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern, which assume that the Company will be able to continue in operation for the foreseeable future, will be able to realize its assets, discharge its liabilities and commitments in the normal course of business.
Management believes the Company will be successful at securing additional funding to continue its operations and intended to advance its new business opportunities in the area of pharmaceutical and nutraceutical manufacturing and distribution, however, the Company has incurred significant operating losses over the past several fiscal years (2019 - $175,901; 2018 - $222,423), has a working capital deficit of $311,865 (October 31, 2019 - $273,388), has a deficit of - $15,929,931 (October 31, 2019 - $15,891,454), has limited resources, no source of operating cash flows and no assurances that sufficient funding will be available to further its goals and objectives. These indicate the existence of a material uncertainty that may cast significant doubt about the Company’s ability to continue as a going concern.
The application of the going concern concept is dependent upon the Company’s ability to successfully complete its manufacturing process, commercialize its products and receive regulatory approvals for its business, the outcome of which cannot be predicted at this point. As a result, it may be necessary for the Company to obtain additional capital, such as issuance of equity and/or debt securities, or alternative financing sources of financing. There is no assurance that the Company will be able to obtain sufficient funds to continue its operating activities