As more fully described in "LIQUIDITY AND CAPITAL RESOURCES", we had $ 5,096 in cash at March 31, 2016, and $ 60,047 respectively, remaining on the lines of credit from Mr. Talari with which to satisfy our future cash requirements. Our management believes that the credit lines will support only limited activities for the next twelve months. We are attempting to secure other sources of financing to develop our business plan, and to implement our sales and marketing plan. We have no assurance we will be able to obtain additional funding to sustain even limited operations beyond twelve months based on the available lines of credit with Mr. Talari and FutureTech. If we do not obtain additional funding, we may need to cease operations until we do so and, in that event, may consider a sale of our technology. Our plan of operations set forth below depends entirely upon obtaining additional funding.
We do not have any ongoing discussions, arrangements, understandings, commitments or agreements for additional funding. We will consider equity funding, either or both of a private sale or a registered public offering of our common stock; however, it seems unlikely that we can obtain an underwriter. We will consider a joint venture in which the joint venture partner provides funding to the enterprise. We will consider debt financing, both unsecured and secured by a pledge of our technology. As noted above, we may be forced to cease operations without additional funding, after our limited cash and line of credit with Mr. Talari are exhausted.
LIQUIDITY AND CAPITAL RESOURCES
For the year ended March 31, 2016, the Company incurred a net loss of $ 1,405,156 . As of March 31, 2016, the Company had a working capital deficit of $ 800,885 and $ 2,330 in cash with which to satisfy any future cash requirements. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company depends upon capital derived from future financing activities such as loans from its officers and directors, subsequent offerings of its common stock or debt financing in order to operate and grow the business either directly or through its subsidiary. There can be no assurance that the Company will be successful in raising such capital. The key factors that are not in the Company's control and that may have a direct bearing on operating results. These factors include, but are not limited to, acceptance of the Company's business plan, the ability to raise capital in the future, the ability to expand its customer base, and the ability to hire key employees to grow the business. There may be other risks and circumstances that management may be unable to predict.
A HUNDRED YEARS FROM NOW IT WILL NOT MATTER WHAT MY BANK ACCOUNT WAS, THE SORT OF HOUSE I LIVED IN, OR THE KIND OF CAR I DROVE...BUT THE WORLD MAY BE DIFFERENT BECAUSE I WAS IMPORTANT IN THE LIFE OF A CHILD.
