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Going Concern
3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Going Concern

NOTE 2           GOING CONCERN 

 

As reflected in the accompanying audited financial statements, the Company had a net loss of $1,606,117 for the three months ended March 31, 2015, has an accumulated deficit of $38,742,462 as of March 31, 2015, and has negative cash flow from operations of $637,592 as of and for the three months ended March 31, 2015.

 

As the Company continues to incur losses, transition to profitability is dependent upon the successful commercialization of its products and achieving a level of revenues adequate to support the Company's cost structure.

 

The Company may never achieve profitability, and unless and until it does, the Company will continue to need to raise additional cash. Management intends to fund future operations through additional private or public debt or equity offerings. Based on the Company's operating plan, existing working capital at December 31, 2014 was not sufficient to meet the cash requirements to fund planned operations through January 31, 2015 without additional sources of cash. This raises substantial doubt about the Company's ability to continue as a going concern.  The accompanying financial statements have been prepared assuming that the Company will continue as a going concern and do not include adjustments that might result from the outcome of this uncertainty.