IBC just issued a 2013 Year-End Corporate Update indicating The ”Company is aware that there has been a recent increase in trading activity of the Company’s shares and a decline in its stock price. The Company confirms that it is not aware of any adverse material changes in the operations of, or prospects for, the Company that would explain this activity”. The stock has dropped over 80% in the last year. The recent financial statement indicated As at March 31, 2013, the Company had not yet achieved profitable operations, incurred a loss of $4,113 (000) during the nine months ended March 31, 2013 and, as of that date, the Company had accumulated losses of $36,679 (000) since inception. Furthermore, the Company expects to incur further losses in the development of its business, all of which cast significant doubt about the Company’s ability to continue as a going concern”.
Can this company be trusted?