We may well be materially impacted by dangers linked with new solution development. The Enterprise also relies on a U.S.-primarily based supplier for a crucial ingredient in its solution formulations. If this supplier is unable to continue to provide this important ingredient, we would have to reformulate specific of our solution offerings or seek out other suppliers which could be a tricky and time-consuming approach. We believe that an acceptable IT infrastructure is important in order to help our everyday operations and the growth of our business enterprise.
The following discussion consists of forward-hunting statements that involve risks and uncertainties. The forward-searching statements are not historical details, but rather are primarily based on existing expectations, estimates, assumptions and projections about our industry, enterprise and economic benefits. Our actual benefits could differ materially from the outcomes contemplated by these forward-looking statements. Pursuant to our By-laws, two persons present in person or represented by proxy and each entitled to vote shall constitute a quorum for the transaction of company at any meeting of shareholders.
Due to the fact Anvirzel® has not yet been authorized by either the FDA or Wellness Canada, the capability of the Firm to educate physicians as to the possible advantages of Anvirzel® is restricted. Climate alter, droughts and pestilence could have a adverse effect on the Company’s oleander farm operations situated in D’Hanis, Texas.
Our consolidated monetary statements do not contain any adjustments to the amounts and classifications of the assets and liabilities that could be vital really should we be unable to continue in business enterprise. If the going concern assumption was not appropriate for nerium, Look At This, our consolidated economic statements, then adjustments would be vital to the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications applied.
The COVID-19 pandemic might cause important disruption to our enterprise model. We have committed resources towards establishing business operations in Mexico. In order to successfully create our organization and our revenues in foreign jurisdictions, we will be needed to add new personnel and devote monetary resources to these initiatives. There can be no assurance that such efforts will be profitable. Failure to realize on these initiatives could outcome in adverse effects on our business and outcomes of operations.
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The following variables, as well as other aspects affecting our operating outcomes and monetary condition, could cause our actual future benefits and economic condition to differ materially from these projected. The Company has not been involved in any bankruptcy, receivership or other similar proceedings. The Corporation has not been involved in any material reclassification, merger, or other consolidation of its company affairs given that inception. The Business is needed to meet neighborhood, municipal, state and federal government regulations with respect to environmental, fair organization and labor practices, anti-corruption and anti-bribery legislation.
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We have prepared our consolidated financial statements on a «going concern» basis which presumes that we will be able to realize our assets and discharge our liabilities in the typical course of organization for the foreseeable future. You really should cautiously take into consideration the following risk aspects and the other data included herein as nicely as the data included in other reports and filings produced with the SEC.
We have foreign subsidiaries and intend to expand our small business activity into those jurisdictions. Failure to gather the funds at present in escrow and the remaining installment payments due through October 2021 would have an adverse impact on the Company’s small business and its economic position. Furthermore, we are dependent upon our management team to oversee our operations. There can be no assurance that our management group will effectively reach our business enterprise objectives. In the event these persons are ineffective, our small business and outcomes of operations could be adversely impacted.