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Going Concern
3 Months Ended
Mar. 31, 2016
Going Concern [Abstract]  
Going Concern

NOTE 2 – Going Concern

 

These unaudited condensed consolidated financial statements have been prepared on a going concern basis, which assumes the Company will continue to realize it assets and discharge its liabilities in the normal course of business.  As of March 31, 2016, the Company had an accumulated deficit and stockholders’ deficit of $44,868,853 and $5,061,339, respectively, and incurred losses from operations of $1,150,074 for the three months ended March 31, 2016 and used cash in operations of $879,453 during the three months ended March 31, 2016.  In addition, the Company has not yet generated revenue sufficient to support ongoing operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

During the three months ended March 31, 2016, the Company received $680,000 in advances from its convertible line of credit with its president and principal shareholder. The Company also received $225,245 from Lincoln Park Capital Fund LLC in connection with a $10 million stock purchase agreement entered into in August 2015. See Note 4.

 

Management believes that the Purchase Agreement with Lincoln Park, additional funding from its president and principal shareholder and the revenue prospects from the Wildland industry provide the opportunity for the Company to continue as a going concern.  Ultimately, the continuation of the Company as a going concern is dependent upon the ability of the Company to generate sufficient revenue to attain profitable operations.