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Going Concern
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

NOTE 2 - GOING CONCERN

 

As shown in the accompanying unaudited condensed consolidated financial statements, the Company incurred a net loss of $598,159 and $657,853 for the three months ended March 31, 2018 and 2017, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $11,439,918 as of March 31, 2018.   The Company anticipates further losses in the development of its business. The Company had a net working capital of $963,990 at March 31, 2018 as a result of the continuing operations of the company. Based on its current forecast and budget, Management believes that its cash resources will be sufficient to fund its operations at least until the third quarter of 2018. Absent generation of sufficient revenue from the execution of the Company’s business plan, it will need to obtain debt or equity financing by the fourth quarter of 2018.

 

As reflected in the unaudited condensed consolidated financial statements, the Company had an accumulated deficit at March 31, 2018, a net loss and net cash used in operating activities for the three months ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern.