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4. GOING CONCERN
12 Months Ended
Dec. 31, 2012
Going Concern  
NOTE 4 - GOING CONCERN

 

NOTE 4 - GOING CONCERN

 

As shown in the accompanying financial statements, the Company generated a net loss of $450,571 for the year ended December 31, 2012 primarily as a result of ongoing operational expenses of the Company. The Company did not generate any revenue from product sales for the years ended December 31, 2012 and 2011.  As of December 31, 2012, the Company’s current and total liabilities exceeded its current assets by $1,651,559.  These factors, as well as the uncertain conditions that the Company faces relative to capital raising activities, create substantial doubt as to the Company’s ability to continue as a going concern.  The Company is seeking to raise additional capital through private placement offerings and is targeting strategic partners in an effort to finalize the development of its products and begin generating revenues.  The ability of the Company to continue as a going concern is dependent upon the success of future capital offerings or alternative financing arrangements and expansion of its operations.  The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.  As of December 31, 2012, the Company had $3,055 of cash available on hand.  The Company will require additional funding during the next twelve months to finance the growth of its current operations and achieve its strategic objectives.  Management is actively pursuing additional sources of financing sufficient to generate enough cash flow to fund its operations through 2013. However, management cannot make any assurances that such financing will be secured.