XML 47 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Going Concern
3 Months Ended
Jul. 31, 2013
Going Concern  
Going Concern

NOTE 2. GOING CONCERN

 

REGI incurred net losses of $200,847 for the three months ended July 31, 2013, has a working capital deficit of $1,716,781 and an accumulated deficit of $11,929,418 at July 31, 2013. These factors raise substantial doubt about the ability of REGI to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. As a result, REGI’s consolidated financial statements as of July 31, 2013 and for the three months ended July 31, 2013 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.

 

REGI also receives interim support from affiliated companies and plans to raise additional capital through debt and/or equity financings. There continues to be insufficient funds to provide enough working capital to fund ongoing operations for the next twelve months. REGI may also raise additional funds through the exercise of warrants and stock options, if exercised. There is no assurance that any of these activities will be successful.