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3. GOING CONCERN
6 Months Ended
Jun. 30, 2015
Going Concern  
GOING CONCERN

As shown in the accompanying financial statements, the Company generated a net loss of $331,839 during the six months ended June 30, 2015. The Company did not generate any revenue from product sales during the six months ended June 30, 2015 or June 30, 2014. As of June 30, 2015, the Company’s current and total liabilities exceeded its current assets by $647,524. As of June 30, 2015, the Company had $31,578 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. 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 principally 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. Management is actively pursuing additional sources of financing sufficient to generate enough cash flow to fund its operations through calendar year 2015. However, management cannot make any assurances that such financing will be secured.