2.4.0.8000080 - Disclosure - GOING CONCERNtruefalsefalse1false falsefalseD130101_130630http://www.sec.gov/CIK0001167905duration2013-01-01T00:00:002013-06-30T00:00:001true 1fil_GOINGCONCERNAbstractfil_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0GOING CONCERN:2false 2us-gaap_LiquidityDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<!--egx--><pre>3. GOING CONCERN</pre><pre>The accompanying&nbsp; consolidated&nbsp; financial statements have been prepared assuming</pre><pre>that&nbsp; the&nbsp; Company&nbsp; will&nbsp; continue&nbsp; as a going&nbsp; concern&nbsp; that&nbsp; contemplates&nbsp; the</pre><pre>realization of assets and the&nbsp; satisfaction&nbsp; of liabilities in the normal course</pre><pre>of business.&nbsp; The Company has suffered&nbsp; recurring net losses from operations and</pre><pre>had a working capital&nbsp; deficit of $24,185,563 as of June 30, 2013,&nbsp; which raises</pre><pre>substantial&nbsp; doubt about the Company's&nbsp; ability to continue as a going&nbsp; concern.</pre><pre>The&nbsp; Company's&nbsp; ability to continue&nbsp; as a going&nbsp; concern is&nbsp; dependent&nbsp; upon its</pre><pre>capability to raise additional funds through debt and equity&nbsp; financing,&nbsp; and to</pre><pre>achieve profitable operations. Management's plans to continue as a going concern</pre><pre>and to achieve a profitable level of operations are as follows:</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Advanced Waste &amp; Water Technology, Inc.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Successfully&nbsp; sell&nbsp; large-scale&nbsp; waste water treatment&nbsp; equipment</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; through AWWT's established licensing agreement.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Baker's Pride, Inc.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Secure&nbsp; additional&nbsp; donut and bread&nbsp; customers&nbsp; to&nbsp; increase&nbsp; the</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; utilization&nbsp; of existing plant assets and place&nbsp; significant&nbsp; and</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; competitive&nbsp; bids to&nbsp; strategic&nbsp; players&nbsp; within the fresh&nbsp; bread</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; manufacturing&nbsp; industry,&nbsp; as well as increase&nbsp; revenues&nbsp; from its</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; existing customers,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Increase co-pack donut,&nbsp; bread and bun business once the existing</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; plant assets are operating at maximum capacity,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Tyree Holdings Corp.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp; &nbsp;Increase&nbsp; sales of the&nbsp; environmental&nbsp; business&nbsp; unit to existing</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; customers and bid on additional&nbsp; jobs outside of Tyree's&nbsp; current</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; customer base. Tyree's ability to succeed in securing&nbsp; additional</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; environmental&nbsp; business&nbsp; depends on the ability of one of Tyree's</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; primary&nbsp;&nbsp; customers&nbsp; to&nbsp; secure&nbsp;&nbsp; remediation&nbsp;&nbsp; work&nbsp; by&nbsp; bidding</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; environmental&nbsp; liabilities currently present on gasoline stations</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and referring this work to Tyree,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Evaluate Tyree's construction and maintenance business units with</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; respect&nbsp; to&nbsp; their&nbsp; ability&nbsp; to&nbsp; increase&nbsp;&nbsp; margins&nbsp; and&nbsp; operate</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; profitably independent of each other,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Liquidate&nbsp; excess&nbsp; inventory&nbsp; that&nbsp; will not be&nbsp; utilized&nbsp; in the</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; normal&nbsp; course&nbsp; of&nbsp; operations&nbsp; during&nbsp; the&nbsp; next six&nbsp; months&nbsp; to</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; generate additional working capital.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Amincor Other Assets, Inc.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Liquidate&nbsp; assets held for sale to provide working capital to the</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company's subsidiaries,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Rent out assets held for sale to offset the costs of ownership of</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; those&nbsp; assets&nbsp; wherever&nbsp;&nbsp; possible,&nbsp;&nbsp; if&nbsp; the&nbsp; assets&nbsp; cannot&nbsp; be</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liquidated.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Amincor, Inc.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; Secure new&nbsp; financing&nbsp; from a&nbsp; financial&nbsp; institution&nbsp; to provide</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; needed working capital to the subsidiary companies.</pre><pre>While management believes that it will be able to continue to raise capital from</pre><pre>various funding sources in such amounts&nbsp; sufficient to sustain operations at the</pre><pre>Company's&nbsp; current&nbsp; levels through at least June 30, 2014, if the Company is not</pre><pre>able to do so and if the Company is unable to become&nbsp; profitable in 2013 and the</pre><pre>first half of 2014, the Company would likely need to modify its plans and/or cut</pre><pre>back on its operations. If the Company is able to raise additional funds through</pre><pre>the issuance of equity securities, substantial dilution to existing shareholders</pre><pre>may result.&nbsp; However,&nbsp; if&nbsp; management's&nbsp; plans are not achieved,&nbsp; if significant</pre><pre>unanticipated&nbsp; events occur, or if the Company is unable to obtain the necessary</pre><pre>additional funding on favorable terms or at all, management would likely have to</pre><pre>modify&nbsp; its&nbsp; business&nbsp; plans&nbsp; to&nbsp; continue&nbsp; as a going&nbsp; concern.&nbsp; The&nbsp; condensed</pre><pre>consolidated&nbsp; financial&nbsp; statements do not include any adjustments that might be</pre><pre>necessary if the Company is unable to continue as a going concern.</pre>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations.No definition available.false0Going ConcernfalseGOING CONCERNUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.amincor.com/20130630/role/idr_DisclosureGOINGCONCERN12