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Act which may deter changes in control of our management which have not been approved by our Board of Directors.
+Added: have going concern issue.
+Added: Company has minimal revenues from our remaining oil and gas assets.
+Added: We are in need of additional cash resources to maintain our
+Added: We have not yet received any revenue from the sale our CBD skincare products.
+Added: These factors raise substantial doubt
+Added: about its ability to continue as a going concern.
+Added: The Company’s ability to continue as a going concern is dependent on its
+Added: ability to raise additional capital or obtain necessary debt financing.
+Added: The Company is presently dependent on its controlling
+Added: shareholder to provide us funding for its daily operation and expenses, including professional fees and fees charged by regulators,
+Added: although he is under no obligation to do so.
+Added: Company intends to meet the cash requirements for the next 12 months from the issuance date of this report through a combination
+Added: of debt and equity financing by way of private placements, friends, family and business associates.
+Added: The Company currently does
+Added: not have any arrangements in place to complete any private placement financings and there is no assurance that the Company will
+Added: be successful in completing any such financings on terms that will be acceptable to it.
+Added: we do not have sufficient working capital to pay our operating costs for the next 12 months, we will require additional funds
+Added: to pay our legal, accounting and other fees associated with our Company and our filing obligations under United States federal
+Added: securities laws, as well as to pay our other accounts payable generated in the ordinary course of our business.
+Added: Once these costs
+Added: are accounted for, we will focus on the following the manufacture and sale of our CBD skincare products.
+Added: failure to raise money will have the effect of delaying the timeframes in the business plan as set forth above, and the Company
+Added: may have to push back the dates of such activities.
+Added: have material weaknesses on internal control.
+Added: has assessed the effectiveness of our internal control over financial reporting under COSO Framework 2013 as of March 31, 2017
+Added: based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of
+Added: the Treadway Commission.
+Added: As a result of this assessment, management concluded that, as of March 31, 2017, our internal control
+Added: over financial reporting was not effective.
+Added: The material weaknesses identified related to (i) lack of segregation of duties due
+Added: to a lack of accounting staff and resources with appropriate knowledge of U.S.
+Added: GAAP and SEC reporting and compliance requirements;
+Added: (ii) a lack of sufficient documented financial closing policies and procedures;
+Added: and (iii) a lack of independent directors and
+Added: an audit committee.
corporate office is located at 310 Fourth Avenue South, Suite 7000, Minneapolis, Minnesota 55415.
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MINE SAFETY DISCLOSURES
−Removed: (Not applicable)
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.