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GOING CONCERN UNCERTAINTIES
12 Months Ended
Dec. 31, 2012
GOING CONCERN UNCERTAINTIES  
GOING CONCERN UNCERTAINTIES

NOTE 2. GOING CONCERN UNCERTAINTIES 

These consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future.

 

For the year ended December 31, 2012, the Company suffered from substantial losses with the accumulated deficit of $2,989,044 as of that date. The continuation of the Company is dependent upon the continuing financial support of shareholders and achieving the exploration for recognized mineral deposits and generating significant revenue from the commercial production. The actions involve certain development and exploratory strategies in these mines. However, there is no assurance that the Company will be successful in securing sufficient funds to sustain the operations.

 

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.