As of the date of this prospectus there are 48,612,365 shares of common stock issued and outstanding.
As of September 30, 2013, we had total current assets of $970,653, consisting of $319,366 in Cash, $69,585 in Refundable Income Taxes, $281,702 in Deferred Income Tax Benefit and $300,000 in Prepaid Expenses and Other Current Assets. We had total current liabilities as of September 30, 2013 of $208,656.
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We believe that we have sufficient capital to cover all anticipated operations during the next 12 months: cash on hand was $319,366 as of September 30, 2013. Additionally, we have already begun generating revenue from our interior design services. Lastly, as part of the transaction through which we sold the majority of our assets in March 2012, $300,000 was held back by the purchaser and placed in an escrow account to cover potential liabilities. On November 7, 2013 all $300,000 of this amount was released to us. We believe that these amounts are adequate to fund the company’s current projected capital requirements for at least eighteen months. We do not presently have any material commitments for capital expenditures.
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