CO2 Solutions Inc. Auditor Raises 'Going Concern' Doubt
October 17, 2018
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CO2 Solutions Inc. filed its Annual on Oct 18, 2018 for the period ending Jun 30, 2018. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
CO2 Solutions Inc. is a Canada-based technology company, which is involved in the capture and management of carbon dioxide (CO2). The Company is focused on commercializing an enzyme-based enabling technology for efficient CO2 capture from fossil fuel power plants, pulp and paper mills and other emitters of CO2. Its technology allows post-combustion emissions to be captured directly from industrial sources like chimneys. The CO2 is then extracted for purification in order to be reused or converted. Its technology is also adaptable to all types of gaseous effluents. The Company's industrial lung carbon-capture technology produces CO2 for reuse or conversion. Its carbon-capture technology uses carbonic anhydrase (CA) enzyme, which is necessary to the organic exchange of CO2 during respiration. The Company is focused on developing its technology platform, testing, de-risking and enhancing that technology platform.