XML 74 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
GOING CONCERN
3 Months Ended
Mar. 31, 2013
Notes  
GOING CONCERN

NOTE 2 - GOING CONCERN

 

The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplate continuation of the Company as a going concern. The Company has recently sustained net losses totaling $36,780 for the three months ended March 31, 2013 and has an accumulated deficit of $622,703 at March 31, 2013. The Company has and will continue to use significant capital to grow and acquire market share. In May 2012, Prince USA filed for bankruptcy protection. As a result of the bankruptcy proceedings, we were unable to renegotiate the Distribution Agreement with Prince USA, although we reasonably expect to do so during the second quarter of 2013; however, no discussions have taken place regarding the termination or extension of the Distribution Agreement as of the date of this current report.

 

These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through sales of their common stock. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty.