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GOING CONCERN
12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN

NOTE 3 - GOING CONCERN

 

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

 

Management evaluated all relevant conditions and events that are reasonably known or reasonably knowable, in the aggregate, as of the date the consolidated financial statements are issued and determined that substantial doubt exists about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent on the Company’s ability to generate revenues and raise capital. The Company has not generated any revenues to provide sufficient cash flows to enable the Company to finance its operations internally. As of December 31, 2023, the Company had $224 cash on hand. At December 31, 2023, the Company has an accumulated deficit of $1,398,333. For the year ended December 31, 2023, the Company had a net loss of $416,500, and cash used in operations of $371,864. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date of filing.

 

Over the next twelve months, management plans to raise additional capital while it identifies and completes a planned acquisition of an Operating Business. However, there is no guarantee the Company will acquire an Operating Business or that, in the event it does acquire an Operating Business, it will generate sufficient revenues or raise capital to continue operations. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

Recent accounting pronouncements

 

Company management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

 

 

TRUSTFEED CORP.

(formerly HEALTHMED SERVICES, LTD)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2023