Overview of Financial Statements Overview of Financial Statements
I Here thanks to chefboy, and thought bI would poke around ands see if I might find an investment.
Never heard of KS-so here we go...
The first point is, when we review financials and the initial page is from the auditor and they have a going concern statement, one should at least have some concern in turn...
“Material Uncertainty Related to Going Concern We draw attention to Note 1 in the financial statements, which indicates that the Company incurred a net loss of $2,426,666 during the year ended May 31, 2021 and had a deficit of $29,948,836 as at May 31, 2021. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. “
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note, pumpers were invariably say that these are normal for companies to have these, but they are certainly not. If you look at the number of companies that post and they success rate, it is concerning.