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Company News Releases...
Pacific Booker Minerals Inc. Announces Audited Financials Posted
Vancouver BC, April 30, 2014: Pacific Booker Minerals’ audited financial
statements for the year ended January 31, 2014 has been filed on sedar and are
available for downloading on our website at
http://www.pacificbooker.com/financials.htm, If you would prefer, complete
the area on that page to request a copy sent by regular mail. The mailing
information provided will be used for that purpose only.
In compliance with NYSE MKT Company Guide, the Company announces that the
auditor's report contained a paragraph titled “Emphasis of Matter” in accordance
with Canadian generally accepted auditing standards and PCAOB (United States)
auditing standards.
The report from the Auditors stated: “Without qualifying our opinion, we draw
attention to Note 2b to these financial statements, which states that Pacific
Booker Minerals Inc. incurred significant losses from operations, negative cash
flows from operating activities and has an accumulated deficit. This, along with
other matters as described in Note 2b, raise substantial doubt about the ability
of the Company to continue as a going concern. Management's plans in regard to
these matters are also described in Note 2b. The financial statements do not
include any adjustments that might result from the outcome of this uncertainty”.
Note 2b states in part that “A going concern in accounting is a term that
indicates whether or not the entity can continue in business for the next fiscal
year. Indicators against “going concern” are negative cash flows from
operations, consecutive losses from operations, and an accumulated deficit.
Pacific Booker Minerals Inc. is a resource company, and must incur expenses
during the process of exploring and evaluating a mineral property to prove the
commercial viability of the ore body, a necessary step in the process of
developing a property to the production stage. As a non-producing resource
company, the Company has no operating income, cash flow is generated mostly by
the purchase of shares from the Company, and an accumulated deficit is the
result of operations and exploration activities without production. Management
has based “the ability to continue in operations” judgement on various factors
including (but not limited to) the opinion of management that the Morrison
project will receive the necessary certificates/permits to allow the Company to
proceed with the development of the project to the production phase, that the
Company’s claims are in good standing through fiscal year 2014/2015, the NI
43-101 feasibility study (completed in 2009) shows commercially viable
quantities of mineral resources. The Company has sufficient cash on hand to meet
its obligations for at least the next fiscal year and has taken steps to reduce
operating costs.’’
If you would like to be added to our email newsgroup, please send your request
by email to info@pacificbooker.com.
On Behalf of the Board of Directors
“John Plourde”
John Plourde, Director
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