XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
3. GOING CONCERN UNCERTAINTY
9 Months Ended
Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN UNCERTAINTY

As shown in the accompanying condensed financial statements, during the nine months ended September 30, 2017 and 2016, the Company did not generate any revenue from product sales and reported net income of $42,871 (resulting primarily from a favorable debt settlement) and a net loss of $215,293, respectively. As of September 30, 2017, the Company’s current liabilities exceeded its current assets by $846,830 and the Company had a total stockholders’ deficit of $233,523.  As of September 30, 2017, the Company had $4,203 of cash. These factors, among others, raise substantial doubt that the Company will be able to continue as a going concern.

 

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 2017 and into calendar year 2018. However, management cannot make any assurances that such financing will be secured.