BYOC · Beyond Commerce, Inc. · Earnings Call Transcripts & Audio

Substantial doubt about the company's ability to continue as a going concern.

“There is substantial doubt about our ability to continue as a going concern. As of March 31, 2023, we had an accumulated deficit of $70,432,902 and a working capital deficit of $5,772,358. These conditions raise substantial doubt about our ability to continue as a going concern. We intend to continue relying upon the issuance of debt and equity securities to finance our operations. In this regard, we are restricted by the number of shares available for issuance in an equity financing, and we will likely need to increase our authorized capital in order to take advantage of such financing. However, there can be no assurance that we will be successful in obtaining shareholder approval to increase our authorized capital, that we will be successful in raising the funds necessary to maintain operations, or that a self-supporting level of operations will ever be achieved. The likely outcome of these future events is indeterminable. Our financial statements do not include any adjustment to reflect the possible future effect on the recoverability and classification of the assets or the amounts and classification of liabilities that may result should we cease to continue as a going concern.”