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Going Concern Uncertainty
9 Months Ended
Sep. 30, 2014
Going Concern Uncertainty [Abstract]  
Going Concern Uncertainty

Note 3- Going Concern Uncertainty

 

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The accompanying consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. The Company has incurred recurring losses, has negative working capital, has an accumulated deficit, and has experienced recurring negative cash flows from operations. This raises doubt about the Company's ability to continue as a going concern.

 

On August 27, 2014, we completed the closing of a private placement to accredited investors of 1,575,000 shares of our common stock, at a purchase price of $0.28 per share, for gross proceeds of $441,000. The net proceeds from the private placement will be used by us for capital expenditure requirements and for working capital and other general corporate purposes. Management believes that it will be successful in obtaining sufficient financing to execute its operating plan. However, no assurance can be provided that we will secure additional financing or be able to achieve and sustain a profitable level of operations. To the extent that we are unsuccessful in our plan, management may find it necessary to contemplate the sale of assets and/or curtail operations.