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Check out the two last companies started by "Max" Pozzoni , they both went under and were pulled from trading after losing their investors a pile of money.
They were true north energy corp and falcon natural gas corp.
Cobra has No board of directors , no employees but "Max" , a one man show.
His salary at present is about $50 thousand per month according to latest 10-Q filings.
Why would their lastest sec filings fail to mention $10 million dollars in equity funding?, probably because it doesn't exist.
Check into this one very carefully if you are intending to invest in it.
In its report dated July 30, 2009, our auditors, Ronald R. Chadwick, PC expressed an opinion that there is substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustments that may result from the outcome of this uncertainty. We have generated no operating revenues since our inception. We had an accumulated deficit of $695,158 and $530,041 as of August 31, 2009 and May 31, 2009, respectively. Our continuation as a going concern is dependent upon future events, including our ability to raise additional capital and to generate positive cash flows.
Due to increased salary and website/investor communication expenses, our operating expenses during the three months ended August 31, 2009 increased to $163,458 from $90,922 during the three months ended August 31, 2008
At August 31, 2009, we had a working capital deficit of $583,446 compared to a working capital deficit of $106,091 at May 31, 2009. Current liabilities increased to $802,061 at August 31, 2009 from $127,163 at May 31, 2009. The increase in current liabilities at August 31, 2009 compared to May 31, 2009 was due to amounts due on lease contracts. Current assets increased to $218,615 at August 31, 2009 from $21,072 at May 31, 2009. The increase in current assets at August 31, 2009 compared to May 31, 2009 was due to an increase in cash
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