At December 31, 2012 we had a working capital deficit of $2,270,876 and an accumulated deficit of $41,604,253. The report from our independent registered public accounting firm on our audited financial statements for the fiscal year ended September 30, 2012 contained an explanatory paragraph regarding doubt as to our ability to continue as a going concern as a result of our net losses in operations.
A lot of company's 10-Q Quarterly Report that have been falling contain that information, but some companies like IWEB is turning their business around and making major changes and progress.
IWEB have been making structural changes and eliminating debt, and pushing more sales towards profitability.
I'm trying to figure out if this stock is worth my time. Probably not, considering the mostly uninformed responses I received on this post, and lack of explanation for how this "going concern" will be addressed.
that would also explain the declining 20,30.45,50,95,150, week average for the last 3 years. tough spot when net revenue is not enough to keep it afloat. probably has a need product but money is tight for alot of small & medium size companies. some are trying to find a way to stay alive and that means not spending . I have been saying for months they needed a reverse split to stay alive, maybe they will have to now.
Sentiment: Strong Sell
They can execute a short, that is a possibility, but then that causes the ratchet provision to kick in and the creditors that gave capital at the .12 range and now have a huge amount of warrant at the new exercise price of .074, would consequently have a countless number of warrants, or simply own a huge chunk of the company. This management team due to past actions/financing is in a corner with no way out! I implore anyone that researches this company to CLOSELY read the financials and realize just how bad of a shape they are in. I truly believe at this time, they will have to file for bankruptcy and renegotiate the terms of financing...but the good news. Rob Hows knows from past management experience at CompUSA how to run such an entity!