Note 2 - Going Concern Uncertainty

12 Months Ended

Dec. 31, 2016

Notes

Note 2 - Going Concern Uncertainty

NOTE 2 – Going Concern Uncertainty

The consolidated financial statements have been prepared on a “going concern” basis, which contemplates the realization of assets and liquidation of liabilities in a normal course of business. As of December 31, 2016, the Company had cash and cash equivalents of $30,193 and a working capital deficit of $605,131. For the years ended December 31, 2016 and 2015, the Company had net losses of $665,050 and $3,591,723, respectively. These factors raise substantial doubt as to the Company's ability to continue as a going concern.  The Company plans to improve its financial condition by raising capital through sales of shares of its common stock.  Also, on January 23, 2017 (see Note 15), the Company entered into an agreement to acquire an entity in the business of manufacturing and distributing products containing the cannabinoid CBD, extracted from industry hemp legally imported from overseas. However, there are certain conditions precedent to closing of this transaction and it may not occur. Also, the Company plans to pursue new customers to attain profitable operations. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.