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NOTE 16. SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
NOTE 16. SUBSEQUENT EVENTS

NOTE 16.  SUBSEQUENT EVENTS

 

Impact of Disease Outbreak and Management’s Plans

On March 11, 2020, the World Health Organization declared the outbreak of a respiratory disease caused by a new coronavirus as a “pandemic”. First identified in late 2019 and known now as COVID-19, the outbreak has impacted thousands of individuals worldwide. In response, many countries have implemented measures to combat the outbreak which have impacted global business operations, including drastic reductions or stoppages in international flights by all major international airline carriers which are serviced by the Company. 

Majority of the states within the United States have issued a stay at home order to its residents and have required closure of all in-store retail restaurants. Accordingly, the Company’s revenues associated with our business model has drastically declined through date of the financial statements and its results of operations, cash flows and financial condition have been negatively impacted by the pandemic.

The impact of the disease outbreak, as of the date of the financial statements, remains highly fluid and uncertain.  The Company is unable to predict, with any sort of certainty, the timing for the end of international travel restrictions, along with the subsequent recovery and resumption of normal operations of its airline customer base.  Similarly, the Company is unable to predict the timing for resumption of normal purchasing activity related to its freshly prepared meals business with its largest customer.  Accordingly, the financial impact on the results of operations, cash flows and financial condition cannot be reasonably estimated at this time.  No impairments were recorded as of the balance sheet date; however, due to significant uncertainty surrounding the situation, management's judgment regarding this could change in the future.

The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company has sustained operating losses in 2020 through the date of the financial statements as its revenue has significantly decreased for reasons described above. 

Management believes the following actions being taken to revise the Company's operations during the pandemic provide the opportunity for the Company to continue as a going concern:

 

The Company continues to maintain the business working with customers to fit their needs - We are also offering COVID19 type services. We have clients in the medical field and are offering to do survey work for them in regards to their response for the COVID outbreak so they can document how they are doing as a company. We are in touch with our customers daily, we have even discussed switching them from phone calls to web surveys until this has passed. Along with the above the Company is applying for the Paycheck Protection funds to assist in maintaining our employee base.