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Nature and Continuance Of Operations - Going Concern
3 Months Ended
Mar. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature and Continuance of Operations

NOTE 1 – NATURE AND CONTINUANCE OF OPERATIONS - GOING CONCERN

 

These interim consolidated financial statements as at March 31, 2013 and for the three month period then ended have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. Sanwire Corporation (Formerly, NT Mining Corporation) (the “Company”) has a loss of $45,998 for the three month period ended March 31, 2013 (March 31, 2012 - $38,520) and has working capital deficit of $11,378,033 at March 31, 2013 (December 31, 2012 - $1,372,035).

 

Management cannot provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive, or raise additional debt and/or equity capital. Based on its prior demonstrated ability to raise capital, management believes that the Company’s capital resources should be adequate to continue operating and maintaining its business strategy during the fiscal year ending 2013. However, if the Company is unable to raise additional capital in the near future, due to the Company’s liquidity problems, management expects that the Company will need to curtail operations, liquidate assets, seek additional capital on less favorable terms and/or pursue other remedial measures. These interim consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

At March 31, 2013, the Company has suffered losses from exploration stage activities to date. Accordingly, the Company must rely on its management to perform essential functions without compensation until a business operation can be commenced. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The interim consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.