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Going Concern
9 Months Ended
Sep. 30, 2015
Going Concern:  
Going Concern

Note 2 – Going Concern

 

The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has had recurring operating losses and negative cash flows from operations. Those factors, as well as uncertainty in securing additional funds for continued operations, create an uncertainty about the Company’s ability to continue as a going concern. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

The Company continues to seek funding from private debt and equity investors, as it needs to promptly raise substantial additional capita above and beyond expected licensing revenue in order to finance its plan of operations. There can be no assurance that the Company will be able to promptly raise the necessary funds on commercially acceptable terms if at all. If it does not raise the necessary funds, it may be forced to cease operations.