The Company's financial statements are prepared
using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates
the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred losses since
inception of $13,490,348 and currently has very limited revenues, which creates substantial doubt about its ability to continue
as a going concern.
The future of the Company as an operating business will depend on its ability to obtain sufficient capital contributions and/or
financing as may be required to sustain its operations. Management's plan to address this need includes, (a) continued exercise
of tight cost controls to conserve cash, (b) receiving additional grant funds, and (c) obtaining additional financing through debt
or equity financing.
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described
in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying
financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
If the Company is unable to obtain adequate capital, it could be forced to cease operations.
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