Quarterly report pursuant to sections 13 or 15(d)

NOTE 2 - GOING CONCERN

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NOTE 2 - GOING CONCERN
3 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
NOTE 2 - GOING CONCERN

NOTE 2 – GOING CONCERN

 

As reflected in the accompanying financial statements, the Company had a net operating loss for the six months ended June 30, 2012 of $409,233. The total accumulated deficit as of June 30, 2012 was $3,920,433. The ability of the Company to continue as a going concern is dependent on the Company’s ability to further implement its business plan and raise additional capital. On February 24, 2012 management received $62,500 in exchange for convertible notes amounting to $68,750 and warrants to purchase 1,375,000 shares of the Company’s common stock and on May 11, 2012 an additional $12,500 was received in exchange for convertible notes with warrants to purchase 275,000 shares of the Company’s common stock. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.