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Going Concern
3 Months Ended
Mar. 31, 2017
Going Concern [Abstract]  
GOING CONCERN

NOTE 2 – GOING CONCERN

 

The Company incurred a net loss of $844,301 for the three months ended March 31, 2017, and had an accumulated deficit of $160,429,292.  As of March 31, 2017, the Company had cash in the amount of $15,686 and total liabilities in the amount of $7,909,760. We also had a working capital deficit of $7,588,775 as of March 31, 2017. Over the last several years, its operations have been funded primarily through the sale of both equity and debt securities. Inasmuch as the Company is still evaluating its future strategy and has no source of revenue, it is difficult to assess the Company’s future operating needs.   As of the date of the Company’s most recent audit, for the fiscal year ended December 31, 2016, it had not generated sufficient revenues to meet its cash flow needs.  The Company’s current cash on hand is insufficient for it to be able to maintain any operations, including the expenses of remaining a public company. At the current level beyond May 2017 and due to the outstanding debt owed, the Company does not anticipate that it will have the assets from which to pay such expenses. As a result, the Company’s auditors have expressed substantial doubt about the Company’s ability to continue as a going concern.  Although the Company has generated revenue during the quarter ended March 31, 2017 that was generated in its former line of business, and it still operated at a net loss.  The Company currently has no operations from which to obtain revenue.  If it cannot continue as a going concern, and cannot successfully revise its business plan it will need to cease operations, which will reduce or completely eliminate the value of your investment.