XML 31 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
2. GOING CONCERN
6 Months Ended
Jun. 30, 2013
Going Concern  
NOTE 2. GOING CONCERN

As reflected in the accompanying unaudited condensed consolidated financial statements for the six months ended June 30, 2013, the Company had net losses of $1,754,759. Additionally, at June 30, 2013, the Company had a working capital deficit of $1,893,580, an accumulated deficit of $26,576,947 and a stockholders’ deficit of $1,814,801. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

In the upcoming months, the Company intends to raise additional working capital. We further expect to have growth in revenues through new contracts in the upcoming periods that could provide operating profits. Additionally, Envision intends to renegotiate the debt instruments that currently become due in December 2013. All such actions and funds, if successful, are expected to be sufficient to cover monthly operating expenses as well as meet minimum payments with respect to the Company’s liabilities over the next twelve months in addition to providing potential additional working capital.

 

The unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.