Please compare the non-stop stupidities and paid-for pumping that Metanor (MTO.v) rams down the throat of the mouthbreather end of the investment community (lots of examples here of the corporate soft-soap, even more here of the paid-for pumperooneys) with the things they are required to print when it comes to regulatories, such as the year end filings that they’ve just stuck on SEDAR. Example, this from the MD&A
GOING CONCERNThese financial statements were prepared on a going concern basis, using the historical cost, except for the financial assets accounted for at fair value through profit or loss.For the year ended June 30, 2013, the Company generated a loss of $17,288,422 and has a deficit of $60,177,215 as at that date. In addition to its current working capital requirements, the Company must obtain additional financing to meet its commitments and obligations in respect to its exploration and evaluation programs, its funds reserved for exploration following the issuance of flow-through shares and its long-term debt contractual commitments. As at June 30, 2013, the Company has a negative working capital of $5,226,539, including $2,746,815 in cash. The Company believes that the current liquidity position is not sufficient to fund next year’s cash commitments and other expenses to be incurred until June 30, 2014.The Company’s ability to continue as a going concern depends on its ability to realize its assets and to obtain additional financing. Even if the Company has been successful in the past in doing so, there is no assurance that it will manage to obtain additional financing in the future and no guarantees that the financing sources or initiatives will be accessible to the Company or that they will be available under such conditions acceptable for the Company. The application of the International Financial Reporting Standards (“IFRS”) on a going concern basis may be inappropriate, since there is a significant doubt as to the appropriateness of the going concern assumption.These financial statements do not reflect the adjustments to the carrying values of assets and liabilities, the reported amounts of revenues and expenses and the classification of statement of financial position items if the going concern assumption was deemed inappropriate, and these adjustments could be material. Management did not take these adjustments into account as it believes in the validity of the going concern assumption.
Cute, huh? 267m shares out, a market cap of nearly $43m, $200k and $300k salaries for all the directors on board and as a company worth precisely fuck all.
Moral: Read The Reg Fs, dumbass