Mimvi Partners With Entrepreneur Media And Microsoft [View article]
Being new to investing please tell me how this, found in the 10-Q, (http://bit.ly/XSuTIi) for MIMVI, doesn't bother anyone.
"Our insolvent financial condition also may create a risk that we may be forced to file for protection under applicable bankruptcy laws or state insolvency statutes. We also may face the risk that a receiver may be appointed. We face that risk and other risks resulting from our current financial condition.
During the nine months ended September 30, 2012, we raised $940,000 in equity financing and $100,000 in debt financing (net of repayments); however, this does not alleviate our current financial position, nor does it enable us to sustain our current operations.
For these and other reasons, we anticipate that unless we can obtain sufficient capital from an outside source and do so in the very near future, we may be unable to continue to operate as a corporation, continue to meet our filing obligations under the Securities Exchange Act of 1934, or otherwise satisfy our obligations to our stock transfer agent, our accountants, our legal counsel, our EDGAR filing agent, and many others.
[...] Apart from the limited funds that we have received there can be no assurance that we will receive any financing or funding from any source or if any financing should be obtained, that existing shareholders will not incur substantial, immediate, and permanent dilution of their existing investment."
VRNG - Ready To Run [View instapost]
Mimvi Partners With Entrepreneur Media And Microsoft [View article]
Mimvi Partners With Entrepreneur Media And Microsoft [View article]
"Our insolvent financial condition also may create a risk that we may be forced to file for protection under applicable bankruptcy laws or state insolvency statutes. We also may face the risk that a receiver may be appointed. We face that risk and other risks resulting from our current financial condition.
During the nine months ended September 30, 2012, we raised $940,000 in equity financing and $100,000 in debt financing (net of repayments); however, this does not alleviate our current financial position, nor does it enable us to sustain our current operations.
For these and other reasons, we anticipate that unless we can obtain sufficient capital from an outside source and do so in the very near future, we may be unable to continue to operate as a corporation, continue to meet our filing obligations under the Securities Exchange Act of 1934, or otherwise satisfy our obligations to our stock transfer agent, our accountants, our legal counsel, our EDGAR filing agent, and many others.
[...] Apart from the limited funds that we have received there can be no assurance that we will receive any financing or funding from any source or if any financing should be obtained, that existing shareholders will not incur substantial, immediate, and permanent dilution of their existing investment."