The auditors concerns are valid in the 8K. Some
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The auditors concerns are valid in the 8K. Some of the concerns mentioned could have been avoided if the CEO didn't pay himself a huge salary prior to ALIE creating any REVENUE. It appears that maybe ALIE didn't have enough starting capital to warrant such a pay check and putting the comapnay behind the 8 BALL prior to getting off the GROUND..
Our operations depend on our acquisition of certain equipment which has yet to be finalized. Competition and unforeseen limited sources of supplies in the industry could result in occasional spot shortages of supplies and certain equipment such as bulldozers and excavators that we might need to conduct our operations. Though we do own some mining equipment, we will need to locate additional products, equipment and materials in the course of our operations. If we cannot find the products, equipment and materials we need, we will have to suspend or limit our operations until we do find the products, equipment and materials that we require. Our auditors have expressed a going concern opinion. We have no established source of revenues, have incurred losses since inception, have a working capital deficit and are in need of capital to grow our operations so that we can become profitable. Accordingly, the opinion of our auditors for the year ended September 30, 2012 is qualified and subject to uncertainty as to whether we will be able to continue as a going concern. This may negatively impact our ability to obtain additional funding that we may require or to do so on terms attractive to us and may negatively impact the market price of our stock.
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