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Going Concern
12 Months Ended
Sep. 30, 2011
Going Concern  
Going Concern

Note 9 – Going Concern

 

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.  For the years ended September 30, 2011 and 2010, we incurred net losses of ($1,218,651) and ($1,901,060), respectively.  As of September 30, 2011 and September 30, 2010, we had working capital deficits of ($1,463,672) and ($2,993,817), respectively, and negative cash flows. These factors, and negative cash flows, raise substantial doubt the Company's ability to continue as a going concern.

 

Our continuation as a going concern is dependent upon our ability to generate sufficient cash flow to meet our obligations on a timely basis, to obtain additional financing or refinancing as may be required, to develop commercially viable products and processes, and ultimately to establish profitable operations.  We have financed operations primarily through the issuance of equity securities and debt and through some limited operating revenues.  Until we are able to generate positive operating cash flows, additional funds will be required to support our operations.  We will need to acquire additional funding in fiscal year 2012 to continue our operations.  The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.