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Note 2 - Liquidity
3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Liquidity and Going Concern [Text Block]
NOTE 2
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LIQUIDITY
 
 
As shown in the accompanying consolidated financial statements, the Company incurred a net loss of $739,785 and $37,791 for the quarters ended March 31, 2016 and 2015, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $7,046,082 as of March 31, 2016. The net loss presented for the current quarter is attributed to goodwill impairment, an increase in professional fees as related to the Merger, and an increase in stock compensation expense. The net loss present for the prior period was attributed to stock compensation expense and research and development expenses. The Company anticipates further losses in the development of its business. Additionally, the Company had a net working capital of $3,014,732 at March 31, 2016 as a result of the Merger and simultaneous financings. Based on its current forecast and budget, Management believes that the Company’s cash resources will be sufficient to fund its operations for nearly two years. Absent generation of sufficient revenue from the execution of the Company’s business plan, it will need to obtain debt or equity financing in late 2017 or early 2018.