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The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. For the year ended June 30, 2022, the Company had a net loss of $2,523,277, cash used in operations of $2,070,030, cash provided from financing activities of $1,309,008 and accumulated deficit of $28,101,458 and total stockholders’ equity of $256,576. The Company has limited available cash resources and it does not believe its cash on hand will be adequate to satisfy our ongoing working capital and growth needs throughout Fiscal Year 2023. The Company is continuing to seek to raise capital through the sales of its common
stock, preferred stock and/or convertible notes, as well as potentially the exercise of outstanding warrants, to finance the Company’s
operations, of which it can give no assurance of success. Management has devoted a significant amount of time in the raising of capital
from additional debt and equity financing. However, the Company’s ability to continue as a going concern is dependent upon raising
additional funds through debt and equity financing and generating revenue. The Company believes that its current capitalization structure,
combined with ongoing increases in revenues, will enable it to successfully secure required financing to continue its growth.
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