Quarterly report pursuant to Section 13 or 15(d)

GOING CONCERN

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GOING CONCERN
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
GOING CONCERN

NOTE 9 – GOING CONCERN

 

As reflected in the accompanying financial statements, the Company has an accumulated deficit of $15,365,515 at June 30, 2016, had a net loss of $709,558 and net cash used in operating activities of $11,405 for six months ended June 30, 2016.

 

The Company now recognizes its cash position does not support the Company’s daily operations.  Management is analyzing future potential opportunities for the business including the potential of a restructuring. The Company has been unable to raise additional funds and may need to scale back operations. This raises substantial doubt about the Company’s ability to continue as a going concern.