Posted On: 07/20/2016 3:02:54 PM
Post# of 43065
Without any sales and marketing effort, and without sufficient funds to operate the business, there is only one possible further update left for Heddle to make.
" We do not have sufficient cash to operate our business which has forced us to suspend our operations until such time as we receive a capital infusion or cash advances on the sale of our processors...
The Company will continue to require substantial funds to continue the expansion of its P2O business to achieve significant commercial productions, and to resume sales and marketing efforts.
The Company has experienced negative cash flows from operations since inception, has net losses from continuing operations of $669,550, and $864,518, for the three months ended March 31, 2016, and 2015, respectively, and has a working capital deficit of $6,063,173 and an accumulated deficit of $72,913,648, at March 31, 2016. These factors raise substantial doubt about the Company’s ability to continue as a going concern and to operate in the normal course of business . "
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" We do not have sufficient cash to operate our business which has forced us to suspend our operations until such time as we receive a capital infusion or cash advances on the sale of our processors...
The Company will continue to require substantial funds to continue the expansion of its P2O business to achieve significant commercial productions, and to resume sales and marketing efforts.
The Company has experienced negative cash flows from operations since inception, has net losses from continuing operations of $669,550, and $864,518, for the three months ended March 31, 2016, and 2015, respectively, and has a working capital deficit of $6,063,173 and an accumulated deficit of $72,913,648, at March 31, 2016. These factors raise substantial doubt about the Company’s ability to continue as a going concern and to operate in the normal course of business . "
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