Posted On: 02/05/2016 5:34:15 PM
Post# of 2290
This is the most truthful statement out of Francine the CEO of Boreal I've heard since invested in this company.....
Note 3 – Going Concern
The accompanying financial statements have been prepared assuming that the company will continue as a
going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the
normal course of business. Since January 10, 2006 (date of quasi reorganization), the Company has
accumulated a deficit of approximately $4,463,851. Currently, the Company has a minimum cash balance
available for the payment of ongoing operating expenses, and its operations is not providing a source of
funds from revenues sufficient to cover its operational costs to allow it to continue as a going concern. The
continued operations of the Company is dependent upon generating profits from operations and raising
sufficient capital through placement of its common stock or issuance of debt securities, which would enable
the Company to carry out its business plan. In the event we do not generate sufficient funds from revenues
or financing through the issuance of our common stock or from debt financing, we may be unable to fully
implement our business plan and pay our obligations as they become due, any of which circumstances
would have a material adverse effect on our business prospects, financial condition and results of
operations.
Note 3 – Going Concern
The accompanying financial statements have been prepared assuming that the company will continue as a
going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the
normal course of business. Since January 10, 2006 (date of quasi reorganization), the Company has
accumulated a deficit of approximately $4,463,851. Currently, the Company has a minimum cash balance
available for the payment of ongoing operating expenses, and its operations is not providing a source of
funds from revenues sufficient to cover its operational costs to allow it to continue as a going concern. The
continued operations of the Company is dependent upon generating profits from operations and raising
sufficient capital through placement of its common stock or issuance of debt securities, which would enable
the Company to carry out its business plan. In the event we do not generate sufficient funds from revenues
or financing through the issuance of our common stock or from debt financing, we may be unable to fully
implement our business plan and pay our obligations as they become due, any of which circumstances
would have a material adverse effect on our business prospects, financial condition and results of
operations.
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