Nov. 10, 2023 9:04 PM Post# 35729756

"Hi all.

Just took a look at the financials.

:

Revenue was 3,685,725 but 

Net loss from operations 

7,171,171

AndRevenue was5,657,783 same quarter a year ago and losses worsened compared Net loss from operations 2,088,686

The cash remaining is 873,498, and the cash 

Vs 9 months ago 2,364,861

Not a great story overall, but they are hanging in there

Can they survive and get the accounts receivable in or will they hit a liquidity crunch?

Its a gamble

In the companies words:

"The Company has incurred, in the last years, operating losses and negative cash flows from operations, and as a result, the Company has an accumulated deficit of $112,100,495 as at September 30, 2023, ($93,384,858 as at December 31, 2022). Furthermore, there have been unexpected delays in the collection of certain accounts receivable from contracts closed in a prior year. This has resulted in a shortfall in cash flows from operating activities that would be used in fundin g the Company’s operations.

As at September 30, 2023, the Company has working capital deficiency of $6,433,575 ($1,650,709 as at December 31, 2022) including cash of $873,498 ($3,445,649 as at December 31, 2022). The working capital is net of an allowance for credit losses amounting to $9,073,254 ($5,023,283 as at December 31, 2022)"

Source sedar dot com accessed nov 10, 2023"