RE: BTC about to go over $31k14 May 2022 23:20
After @iPhoneiTrade's post I checked Companies House and found the financial statements for Clear Leisure and Brainspark for 2020. They contain these paragraphs:
"We draw your attention to note 2.2 in the financial statements which states that the Company incurred substantial losses during the year and is in a net liabilities position. Note 2.2 also highlights that its parent company has incurred substantial losses during the year and that the operation existence is still dependent on the ability to raise further funding either through an equity placing, or through other external external sources of finance. The impact of this together with other matters set out in the note, indicate that a material uncertainty exists that may cast significant doubt on the Company's and parent company's ability to continue as a going concern."
Clear Leisure 2017 Limited Financial statement for the year ended 2020, signed September 2021. This paragraph also appears in the Brainspark financial statement.
"The company has a net liabilities position of £36,255,172 as at 31 December 2020. The company's operational existence is dependent on funding from its parent company, Quantum Blockchain Technologies plc.
After making due enquiries the director has formed a judgement that there is a reasonable expectation that the company can secure further adequate resources to continue in operational existence for the forseeable future and that adequate arrangements will be in place to settle their financial commitments, as and when they fall due."
Brainspark Associates Limited Financial statement for the year ended 2020, signed September 2021
I'm not experienced in reading financial reports but are these companies' finances anything to be worried about?
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