Annual report pursuant to Section 13 and 15(d)

Note 3 Going Concern

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Note 3 Going Concern
12 Months Ended
Dec. 31, 2014
Notes  
Note 3 Going Concern

Note 3 Going Concern

 

As reflected in the accompanying financial statements, the Company has a net loss of $(29,528) and net cash used in operations of $(13,204) for the year ended December 31, 2014, and an accumulated deficit of $(64,551) at December 31, 2014.  In addition, the Company has not yet generated significant revenues. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

The Company expects that its current cash resources as well as expected lack of operating cash flows will not be sufficient to sustain operations for a period greater than one year.  The ability of the Company to continue its operations is dependent on Management's plans, which include continuing to raise equity based financing.

 

The accompanying 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.  These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

 

As described in Note 8 Subsequent Events, subsequent to December 31, 2014, through April 13, 2015, the Company received gross proceeds of $7,871,600 through the sale of shares of its common stock and warrants. The Company believes that these proceeds should be sufficient to fund its proposed operations and business plan for the next twelve months.