Quarterly report pursuant to Section 13 or 15(d)

NOTE 2 - GOING CONCERN

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NOTE 2 - GOING CONCERN
3 Months Ended
Mar. 31, 2015
Note 2 - Going Concern  
NOTE 2 - GOING CONCERN

NOTE 2 – GOING CONCERN

 

As reflected in the accompanying unaudited financial statements, the Company had a net loss and cash used in operations for the three months ended March 31, 2015 of $534,100 and $61,158 respectively, and the working capital deficit, stockholders’ deficit and accumulated deficit as of March 31, 2015 was $1,184,887, $1,184,887 and $6,621,609, respectively. These matters raise substantial doubt about the Company’s ability to continue as a going concern.

 

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 capital. The Company needs to raise additional funds and/or generate sufficient revenue to continue to meet its liquidity needs and realize its business plan and maintain operations. Management of the Company is continuing its efforts to secure funds through equity and/or debt instruments for its operations. At the present time, the Company has no financing commitments from any person, and there can be no assurance that additional capital will be available to the Company on commercially acceptable terms or at all. The Company reduced expenses from existing operations as a result of the merger.

 

These unaudited, consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.