From the interim financial report:

Because of continuing operating losses, the Company’s continuance as a going concern is dependent upon its ability to obtain adequate financing and to reach profitable levels of operations. As disclosed in Note 19, Subsequent Events, the Company has completed a financing; however, additional financings will be required. It is not possible to predict with certainty whether financing efforts will be successful or if the Company will attain profitable levels of operations. Management believes it will be successful in raising the necessary funding to continue operations in the normal course of business; however, there is no assurance that these funds will be available on terms acceptable to the Company or at all.

Bluenoser