Going Concern

12 Months Ended

Dec. 31, 2013

Going Concern [Abstract]

GOING CONCERN

3.         GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company’s operations resulted in a net loss of $3,195,259 and used cash in operations of $2,407,706 for the year ended December 31, 2013.  As of December 31, 2013, the Company had an unappropriated accumulated deficit of $5,026,223 and a working capital deficiency of $4,249,349.

In the course of its development activities, the Company continues to sustain losses. The Company predicts that it will start generating profits in 2014. The Company expects to finance its operations primarily through capital contributions from stockholders and related companies. The Company borrowed from stockholders and related companies a net amount of $181,528 and $2,611,189 during 2013, and the stockholders and related companies agreed to lend more funds to the Company as needed for management to execute its business plan for at least the next twelve months.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required until such time as it can generate sources of recurring revenues and to ultimately attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.