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Going Concern
3 Months Ended
May 31, 2019
Going Concern [Abstract]  
GOING CONCERN

 NOTE 3 – GOING CONCERN

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. During the three months ended May 31, 2019 and 2018, the Company incurred losses of $675,321 and $1,036,382, respectively, and had negative cash flows from operating activities of $397,436 and $1,000,853, respectively.

 

If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether.

 

Substantial additional capital resources will be required to fund continuing expenditures related to our research, development, manufacturing and business development activities. The Company's continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to retain its current financing, to obtain additional financing, and ultimately to attain profitability.

 

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that could result from the outcome of this uncertainty.

 

During the next twelve months we intend to increase operations of our AuraGen®/VIPER business both domestically and internationally. We plan to lease or acquire a new facility of approximately 50,000 square feet to support operations.