v3.10.0.1
2. GOING CONCERN AND LIQUIDITY
6 Months Ended
Jul. 31, 2018
Notes  
2. GOING CONCERN AND LIQUIDITY

NOTE 2 - GOING CONCERN AND LIQUIDITY

 

As of July 31, 2018, the Company had cash of $9,388, insufficient revenue to meet its ongoing operating expenses, liabilities of $1,685,979, accumulated losses of $3,808,089 and a shareholders’ deficit of $1,605,859. The Company has not, as yet generated significant revenues as its key products are still under development.

 

The financial statements for the period ended July 31, 2018 have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company anticipates future losses in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans, loans from directors and, or, the sale of common stock. There is no assurance that this series of events will be satisfactorily completed.

 

These financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities that may be necessary if the Company is unable to continue as a going concern.