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Basis of Presentation, The Company and Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2013
Basis Of Presentation Company and Summary Of Significant Accounting Policies [Abstract]  
Basis of Presentation, The Company and Summary of Significant Accounting Policies
Basis of Presentation, The Company and Summary of Significant Accounting Policies
 
The accompanying unaudited interim consolidated financial statements of Plures Technologies Inc. and subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The interim consolidated financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly our results of operations and financial position for the interim periods.
 
Although the Company believes that the disclosures in these unaudited interim consolidated financial statements are adequate to make the information presented not misleading, certain information normally included in the footnotes prepared in accordance with US GAAP has been omitted as permitted by the rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 filed with the SEC on April 15, 2013.
 
For a complete summary of our significant accounting policies, please refer to Note 1 included in Item 8 of our Form 10-K for the fiscal year ended December 31, 2012. There have been no material changes to our significant accounting policies during the six months ended June 30, 2013.
Liquidity and Management Plans
Liquidity and Management Plans
 
The accompanying unaudited consolidated interim financial statements have been prepared assuming that the Company will continue as a going concern. As of June 30, 2013, the Company's liquidity was limited to cash on hand of $2,309,979 and as reflected in the unaudited interim consolidated financial statements; the Company has an accumulated deficit, has suffered significant net losses, and has negative cash flows from operations, which raises substantial doubt about the Company’s ability to continue as a going concern. During the first six months of 2013, the Company has received a total of $6,224,999 in debt financing. Current investors and management provided $4,224,999 in convertible debt and a third party provided an additional $2,000,000 in secured debt. The third party has first lien on all Company assets. The unaudited consolidated interim financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern.
 
Accounting Standards Update (ASU) 2013-11, “Income Taxes (Topic 740) - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” was issued in July, 2013.  The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013.  Early adoption is permitted.  The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The Company does not expect adoption of this ASU to have a material impact on its financial statements.