UMEW · UMeWorld Inc. · Documents

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

“These conditions, together with recurring operating losses and reliance on external financing, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the consolidated financial statements are issued. Management's plans to alleviate this substantial doubt include: · pursuing additional business arrangements and growth opportunities in the functional nutrition and health-and-wellness markets through Dagola; · expanding distribution channels and product offerings to increase revenues; and · seeking additional capital through promissory notes, private placements, and other financing transactions. There can be no assurance that these plans will be successful or that additional financing will be available on acceptable terms, or at all.”