LNBY · Landbay Inc · Webcasts, Transcripts & Audio

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

“The Company has identified conditions and events that raise substantial doubt about its ability to continue as a going concern. Although the Company generated a small amount of net income and net cash inflows during the current quarter, its core business operations remain in an early stage and have not yet achieved sustainable operating activities. In addition, the Company has incurred significant accumulated losses, resulting in a net capital deficiency. Accordingly, substantial doubt exists regarding the Company's ability to continue as a going concern. Management's plans to alleviate this substantial doubt include efforts to improve operating performance and profitability, increase cash flows from operations to meet ongoing operating requirements, and obtain additional working capital support from the Company's majority shareholder and President. However, there can be no assurance that these plans will be successfully implemented or that such financing will be available on acceptable terms, if at all, to fund the Company's future capital expenditures and operating needs.”