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Note 2 - Liquidity and Management's Plans
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Substantial Doubt about Going Concern [Text Block]

NOTE 2. LIQUIDITY AND MANAGEMENTS PLANS

 

For the year ended December 31, 2021, the Company reported cash and cash equivalents of $2,839,687 and cash flow from operations of $1,203,354 and had working capital of $495,446.  The Company has reported an operating loss of $490,503 for the year ended December 31, 2021 and has an accumulated deficit of $70,322,550 at December 31, 2021.

 

Management believes that the continued growth of the new PAID platform of services in addition to the continued profitability of ShipTime’s services will return a valuable impact on the Company’s success in the future. The ongoing positive cash flows from operations is a significant indicator of our successful transition to the new shipping and eCommerce services. In addition to the existing services provided, ShipTime will launch products in the United States that are complementary to the current offerings. The Company also continues to seek alternate sources of capital to support future operations.

 

Although there can be no assurances, the Company believes that the above management plan will be sufficient to meet the Company's working capital requirements through the end of March 2023 and will have a positive impact on the Company for the foreseeable future.