Since our acquisition of the Company in
Liquidity and Capital Resources
We continue to maintain a cash balance in order to fulfill our financial
commitments. This cash balance or burn rate required to fulfill our financial
commitments is
FORWARD-LOOKING STATEMENTS Our disclosure and analysis in this Information Report contains some forward- looking statements. Certain of the matters discussed concerning our operations, cash flows, financial position, economic performance and financial condition, including, in particular, future sales, product demand, the market for our services, competition, exchange rate fluctuations and the effect of economic conditions include forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates" and similar expressions are forward-looking statements. Although we believe that these statements are based upon reasonable assumptions, including projections of orders, sales, operating margins, earnings, cash flow, research and development costs, working capital, capital expenditures and other projections, they are subject to several risks and uncertainties, and therefore, we can give no assurance that these statements will be achieved. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures we make. These are factors that we think could cause our actual results to differ materially from expected results. Other factors besides those listed here could also adversely affect us. Our officers and directors have indicated that they are unwilling to make any commitment to loan additional capital at this time, other than to pay ongoing fees connected with regulatory and working capital requirements. Accordingly, our officers and directors are under no legal obligation to make additional capital contributions to us in the future. Should we require additional funds and are unable to raise said funds, we will either have to suspend operations until we do raise the funds, or cease operations entirely. Delivery of this information and disclosure statement does not imply that the information contained herein is correct as of any time subsequent to the date first written above.
Limited Operating History; Need for Additional Capital We are at present a development stage corporation and as such yet to generate minimal revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is now subject to all the risks inherent in the establishment of a new business enterprise, including limited capital resources, and possible cost overruns due to price and cost increases in services. In order to become profitable and competitive, we must continue to pursue our new business model for the Company. We continue to seek equity financing to provide for the capital required. We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue operations. Additional equity financing may result in additional dilution to existing shareholders.
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