SLDC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2023-01-23

• As of February 28, 2017, the Company had total current assets of $19,921 and total current liabilities of $5,490,782 for a net working capital deficit of $5,470,861. As of February 29, 2016, the Company had total current assets of $26,864 and total current liabilities of $5,381,900 for a net working…

• We need to raise additional money to meet our general and administrative expenses, and we need to raise money to achieve our business objectives. The additional funding will come from equity financing from the sale of Telco Cuba's common stock or the issuance of debt securities. If we are successful…

• Based on the nature of Telco Cuba's business, management anticipates incurring operating losses in the foreseeable future. Management bases this expectation, in part, on the fact that unrolling a telecommunications operation will cost a substantial amount of money, and possibly take several years be…

• Telco Cuba's ability to raise additional funding is based on;

• Due to the Company’s lack of operating history and present inability to generate revenues, our independent auditors have added an explanatory paragraph to their audit opinion issued in connection with our financial statements for 2015, and 2016 indicating substantial doubt about Telco Cuba's ability…

Text removed vs the prior filing · source: 10-Q · 2016-02-09

• The Company was an early stage Mining and Exploration Company throughout the fiscal year ended November 30, 2014 and early 2015, seeking to acquire, develop, and manage various oil, gas, and mineral properties and resources. In August 2009, the Company entered into an agreement to acquire the minera…

• Results of operations for the three and nine months ended August 31, 2015 and 2014

• Operating expenses for the nine months ended August 31, 2015 consisted of $226,387 in general and administrative expenses compared to $120,517 in costs for the nine months ended August 31, 2014. The increase resulted from the addition of Amgentech operations to those of Telco Cuba in the current per…

• Other expense for the three months ended August 31, 2015, was $78,274, and is derived from the convertible debentures and notes payable carried by the Company. For the three months ended August 31, 2014, the interest expense was $0 as Amgentech carried no debt in the prior year.

• Other expense for the nine months ended August 31, 2015, was $78,274, and is derived from the convertible debentures and notes payable carried by the Company. For the nine months ended August 31, 2014, the interest expense was $0 as Amgentech carried no debt in the prior year. Interest expense was o…