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GOING CONCERN AND MANAGEMENT’S PLANS
12 Months Ended
Dec. 31, 2018
Managements Plan [Abstract]  
GOING CONCERN AND MANAGEMENT’S PLANS

The accompanying consolidated financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has continued to incur losses. For the year ended December 31, 2018, the Company reported a net loss of $11,531,526. The Company has an accumulated deficit of $67,127,122 and has a working capital deficit of $1,364,676 at December 31, 2018. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

Management feels that the addition of ShipTime’s services will return a valuable impact on the Company’s growth in the near future. The positive cash flow from operations is a significant indicator of our successful transition to the new shipping services. In addition to the existing services provided, ShipTime will launch products that are complementary to the current offering of AuctionInc and BeerRun. Combined, the Company believes that all segments of the operations will benefit from ShipTime.

 

Although there can be no assurances, the Company believes that the above management plan will be sufficient to meet the Company's working capital requirements through the end of 2019 and will have a positive impact on the Company for 2019 and future years.