The Company's consolidated financial statements have been prepared on
a going-concern basis which presumes the realization of assets and
discharge of liabilities in the normal course of business for the
foreseeable future. The Company reported a loss of $1,682,729 for the
three months ended March 31, 2008, has a shareholders' deficiency of
$5,055,125 as at March 31, 2008 and has experienced significant
operating losses and cash outflows from operations since its
inception. The Company has operating and liquidity concerns due to
its significant net losses and negative cash flows from operations.
The Company's ability to continue as a going-concern is uncertain and
is dependent upon its ability to raise additional capital to
successfully complete its research and development programs,
commercialize its technologies, obtain regulatory approvals for its
products and ultimately, generate profitable operations and positive
operating cash flows. It is not possible at this time to predict the
outcome of these matters. It will be necessary for the Company to
raise additional funds for the continuing development and marketing
of its technologies. These consolidated financial statements do not
include any adjustments and classifications to the carrying values of
assets and liabilities that may be required should the Company be
unable to continue as a going concern.
|SOURCE PreMD Inc.|
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