Mustang Alliances, Inc. is a junior mining company with a focus on the acquisition and development of precious metals properties in Honduras. As of September 30, the company's cash position has improved, however, its accumulated deficit during the exploration stage jumped up. In addition, the net loss substantially rose up.
The biggest issue for MSTG appears to be the fact that the company has not yet generated revenues from planned principal operations and is considered an exploration-stage company.
In other words, there can be no assurance that sufficient funds will be generated from operations or that funds will be available from external sources such as debt or equity financings or other potential sources. Meaning that, at this point, the going concern status of Mustang remains valid.