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Note 2 - Going Concern
3 Months Ended
Jun. 30, 2016
Notes  
Note 2 - Going Concern

Note 2 – Going Concern

 

The Company's financial statements have been prepared assuming the Company will continue as a going concern. The Company has sustained net losses since inception, which have caused an accumulated deficit of approximately $22.1 million at June 30, 2016. In addition, the Company has consumed cash in its operating activities of approximately $1 million for the three months ended June 30, 2016 compared to $1.1 million for the same period last year. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern.

 

Management has been able, thus far, to finance the losses through a public offering, private placements and obtaining operating funds from stockholders. The Company is continuing to seek sources of financing.  There are no assurances that the Company will be successful in achieving its goals.

 

In view of these conditions, the Company's ability to continue as a going concern is dependent upon its ability to obtain additional financing or capital sources, to meet its financing requirements, and ultimately to achieve profitable operations. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that may be necessary in the event the Company is unable to continue as a going concern.