XML 22 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Liquidity/Going Concern
12 Months Ended
Dec. 31, 2017
Notes  
Note 3 - Liquidity/Going Concern

NOTE 3 – LIQUIDITY/GOING CONCERN

 

The Company has accumulated losses of $21,926,295 and has had sustained negative cash flows from operating activities since inception (May 2008). These factors raise 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, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. During the year ended December 31, 2017, the Company raised aggregate gross proceeds of $635,049 in capital through the issuance of notes payable and $25,000 through the issuance of common stock.  Management plans to (i) raise additional capital as soon as possible, to fund continued operations of the Company and (ii) eventually to generate profits from operations.

 

In the event the Company does not generate sufficient funds from revenues or financing through the issuance of its common stock or from debt financing, the Company will be unable to fully implement its business plan and pay its obligations as they become due, any of which circumstances would have a material adverse effect on its business prospects, financial condition, and results of operations. The accompanying financial statements do not include any adjustments that might be required should the Company be unable to recover the value of its assets or satisfy its liabilities.