XML 45 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Going Concern
6 Months Ended
Sep. 30, 2013
Going Concern [Abstract]  
GOING CONCERN

NOTE 6 — GOING CONCERN

 

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a development stage entity and has not established any sources of revenue to cover its operating expenses. As shown in the accompanying unaudited condensed consolidation financial statements, the Company has not generated any revenue for the period from October 19, 2011 (date of inception) through September 30, 2013. The Company has a recurring net loss, and total deficit accumulated during its development stage of $5,027,124 and a working capital deficit (current liabilities exceeded current assets) at September 30, 2013 of $3,089,679. Additionally, current economic conditions in the United States and globally create significant challenges attaining sufficient funding.

 

The Company’s ability to continue existence is dependent upon commencing its planned operations, management’s ability to develop and achieve profitable operations and/or upon obtaining additional financing to carry out its planned business. The Company intends to fund its business development, acquisition endeavors and operations through equity and debt financing arrangements. The Company is dependent upon its Managing Member and Founder to provide financing for working capital purposes. However, there can be no assurance that these arrangements will be sufficient to fund its ongoing capital expenditures, working capital, and other cash requirements. The outcome of these matters cannot be predicted at this time. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might necessary should the Company be unable to continue as a going concern.