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Going Concern
6 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Note 2 - Going Concern

The Company has begun principal operations and, as is common with a start-up company, the Company has had recurring losses during its early stage. These unaudited interim condensed financial statements have been prepared on the going concern basis, which presumes the realization of assets and the settlement of liabilities in the normal course of operations. The application of the going concern basis is dependent upon the Company achieving profitable operations to generate sufficient cash flows to fund continued operations, or, in the absence of adequate cash flows from operations, obtaining additional financing. The Company has reported losses from operations for the three months ending March 31, 2017 and 2016 of $10,169,187 and $224,623 respectively and for the six months ended March 31, 2017 and March 31, 2016 of $10,368,054 and $410,959 respectively. Renewable Energy and Power has an accumulated deficit of $8,451,944 as at March 31, 2017. This raises substantial doubt about the Company's ability to continue as a going concern.

 

In view of the matters described in the preceding paragraph, recoverability of a major portion of the recorded asset amounts and settlement of the liability amounts shown in the accompanying balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company's ability to succeed in its future 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 be necessary should the Company be 31, 2017and March 31, 2016 of unable to continue in existence.

 

Management continues to review operations in order to identify additional strategies designed to generate cash flow, improve the Company's financial position, and enable the timely discharge of the Company's obligations. If management is unable to identify sources of additional cash flow in the short term, it may be required to further reduce or limit operations.