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10. Going Concern Considerations
6 Months Ended
Jun. 30, 2014
Notes  
10. Going Concern Considerations

10.   Going Concern Considerations

 

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has incurred net losses since inception. As reported in the financial statements, the Company has an accumulated deficit of $32,723,588. At June 30, 2014, the Company had total current assets of $110,284 and total current liabilities totaling $528,237, and a working capital deficit of $417,953, however, the majority of the assets of the Company are in the form of intangible assets.  All of these factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

The ability of the Company to continue as a going concern is dependent on its ability to raise adequate capital to fund operating losses until it is able to engage in profitable business operations. To the extent financing is not available, the Company may not be able to, or may be delayed in, developing its services and meeting its obligations. The Company will continue to evaluate its projected expenditures relative to its available cash and to evaluate additional means of financing in order to satisfy its working capital and other cash requirements. The accompanying financial statements do not reflect any adjustments that might result from the outcome of these uncertainties.