Is CLZ a going concern?

The Auditor, Bentleys, in CLZ's half yearly annual report states that the $2.2 million loss and other things for the last six months means that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.

In response CLZ state they are going to be a going concern because they will raise $400k through the current share placement and make more private placements raising $2.6 million and have increased their death spiral facility with stock assist to $5 million.

If you believe that CLZ will raise $2.6 million through a private placement good luck to you. I personally doubt it. Also the stock assist faciilty means new shares are dumped instantly - so don't expect any shareholder benefits from this.

With 50k in the bank and $3.8 million in debts plus with six months expenses at $2.2 million I believe this is the beginning of the end for CLZ.