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NOTE 2 - GOING CONCERN
3 Months Ended
Mar. 31, 2017
Notes  
NOTE 2 - GOING CONCERN

NOTE 2 – GOING CONCERN

 

The accompanying consolidated financial statements have been prepared with the recognition that there is considerable doubt about whether the Company can continue as a going concern.  As shown in the accompanying condensed consolidated financial statements, the Company incurred a net loss of $1,166,181 for the three months ended March 31, 2017 and has an accumulated deficit of $5,577,182 at March 31, 2017.  The Company also used cash in operating activities of $1,470,228 during the three months ended March 31, 2017.   These factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

 

In order for us to continue as a going concern, we will need to obtain additional debt or equity financing. We are regularly and continually seeking additional funding from investors and from time to time we are in various stages of negotiations.  Nonetheless, to date we have not accomplished a financing of the size needed to put the Company on a stable operating basis. There can be no assurance that we will be able to secure additional debt or equity financing, that we will be able to attain positive cash flow operations, or that, if we are successful in any of those actions, those actions will produce adequate cash flow to enable us to meet our future obligations. All of our existing financing arrangements are short-term. If we are unable to obtain additional debt or equity financing, we may be required to cease operations.