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North American Oil & Gas Corp. Message Board

  • ron284 ron284 Dec 6, 2013 12:09 PM Flag

    Who cares about glossy Tobin report

    This quote from the 11/12/13 10-Q says it all.... Based on the Company’s current expectations, and, along with subsequent events involving stock purchase, we believe that we are only sufficiently funded through November 2013. We do not have any firm commitments to raise additional capital nor is there any assurance sufficient capital will be available at acceptable terms.

    The cash requirements of the Company may have a material impact on our liquidity. The reasons for this are:

    The Company has only secured sufficient funds to maintain its current operations through November 2013. There is an uncertainty as to whether the Company can maintain operations through the fourth quarter of 2013 without securing additional capital through cash raisings, or investor project participation; and there is no certainty that the Company can achieve profitable levels in the oil and gas exploration field, or that it will be able to raise additional capital through any means.

 
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