Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. WESTMOUNTAIN DISTRESSED DEBT INC (1421602) 10-Q published on Nov 14, 2016 at 12:15 pm
Reporting Period: Sep 29, 2016
The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The company has incurred losses since its inception resulting in an accumulated deficit of $502,840 as of September 30, 2016, and further losses are anticipated in the development of its business. The Company currently has a working capital deficit of $131,875 which includes an outstanding payable to OTC Markets of $10,000 for continued listing of our common stock. Accordingly, there is substantial doubt about the Company's ability to continue as a going concern.
The following discussion of our financial condition and results of operations should be read in conjunction with, and is qualified in its entirety by, the consolidated financial statements and notes thereto included in, Item 1 in this Quarterly Report on Form 10-Q. This item contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated in such forward-looking statements.