XML 30 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
2. GOING CONCERN
3 Months Ended
Mar. 31, 2014
Risks and Uncertainties [Abstract]  
NOTE 2. GOING CONCERN

As reflected in the accompanying unaudited condensed consolidated financial statements for the three months ended March 31, 2014, the Company had net losses of $1,017,230. Additionally, at March 31, 2014, the Company had a working capital deficit of $1,124,187, an accumulated deficit of $28,633,328 and a stockholders’ deficit of $1,028,131. 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 through a private offering and other capital sources. We further expect to have growth in revenues through new contracts in the upcoming periods that may provide net gross profits. 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.

 

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.