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Muscle Pharm Corp. Message Board

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  • petermcmanus43 petermcmanus43 Oct 2, 2012 5:03 PM Flag

    Bottom

    Bottom unfortunately if your holding shares of this stock is $0.0000000. From the prospectus released on the 26th of September:

    OUR INDEPENDENT AUDITORS HAVE EXPRESSED SUBSTANTIAL DOUBT ABOUT OUR ABILITY TO CONTINUE AS A GOING
    CONCERN, WHICH MAY HINDER OUR ABILITY TO OBTAIN FUTURE FINANCING.

    As reflected in the accompanying unaudited interim consolidated financial statements, the Company had a net loss of $9,853,389 for the six
    months ended June 30, 2012, and a working capital deficit and stockholders’ deficit of $12,668,017 and $11,013,113 respectively, at June 30,
    2012. Also reflected in the accompanying financial statements, the Company had a net loss of $23,280,950 and net cash used in operations of
    $5,801,761 for the year ended December 31, 2011, and a working capital deficit and stockholders’ deficit of $13,693,267 and $12,971,212,
    respectively, at December 31, 2011. These factors raise substantial doubt about the Company's ability to continue as a going concern.
    The ability of the Company to continue its operations is dependent on management’s plans, which include the raising of capital through debt
    and/or equity markets with some additional funding from other traditional financing sources, including term notes, until such time that funds
    provided by operations are sufficient to fund working capital requirements. The Company may need to incur liabilities with certain related parties
    to sustain the Company’s existence.
    The Company will require additional funding to finance the growth of its current and expected future operations as well as to achieve its strategic
    objectives. The Company believes its current available cash along with anticipated revenues may be insufficient to meet its cash needs for the
    near future. There can be no assurance that financing will be available in amounts or terms acceptable to the Company, if at all.

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