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Just wondering if anyone has heard any more about the release of blow-by gas valve release date? I got an email reply from the company 3 weeks ago stating the release in 4 to 8 weeks. Anyone have any other word?
here is the recent news regarding their finacial status.
Form 10KSB for SAVI MEDIA GROUP, INC.
17-Apr-2006
Annual Report
During the period from inception, August 13, 2002, to December 31, 2005, we have not generated any revenue from operations. As of December 31, 2005, we have accumulated net losses in the development stage of $247,676,149 for the period from inception, August 13, 2002, to December 31, 2005. Additionally, at December 31, 2005, we are in a negative working capital position of $404,264 and had a stockholders' deficit of $360,556. Our auditors have opined that such matters raise substantial doubt about our ability to continue as a going concern. We financed our operations mainly through the sale of common stock and have been entirely dependent on outside sources of financing for continuation of operations. For the remainder of fiscal 2006, we will continue to pursue funding for our business
We believe that we can operate at our current level of liquidity for the next twelve months. In addition to the money raised pursuant to the Securities Purchase Agreement, we believe it is imperative that we raise an additional $5,500,000 of capital in order to implement our business plan. We are attempting to raise additional funds through debt and/or equity offerings.
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