Quarterly report pursuant to sections 13 or 15(d)

Note 1 - Organization and Nature of Business (Policies)

v2.4.0.6
Note 1 - Organization and Nature of Business (Policies)
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
Unaudited Interim Consolidated Financial Statements

Unaudited Interim Consolidated Financial Statements

 

The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Article 8 of Regulation S-X. The consolidated financial statements as of September 30, 2012 and for the nine months ended September 30, 2012 are unaudited; however, in the opinion of management such interim consolidated financial statements reflect all adjustments, consisting solely of normal recurring adjustments, necessary for a fair presentation of the results for the periods presented. The results of operations for the Period presented are not necessarily indicative of the results that might be expected for future interim periods or for the full year.

 

Liquidity

Liquidity

 

To reduce the risk of not being able to continue as a going concern, management has implemented its business plan to materialize revenues from it license agreements and has initiated a private placement offering to raise capital through the sale of its common stock. Although, uncertainty exists as to whether the Company will be able generate enough cash from operations to fund the Company’s working capital needs or raise sufficient capital to meet the Company’s obligations as they become due, no adjustments have been made to the carrying value of assets or liabilities as a result of this uncertainty.