Monday, May 15, 2017 4:05:43 PM
The Company has realized a cumulative net loss of $1,308,971 for the period from inception (June 2, 2015) to March 31, 2017, has negative working capital of $517,524, and no revenues. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a year following the issuance of these condensed consolidated financial statements. The Company has insufficient revenue and capital commitments to fund the development of its planned products and to pay operating expenses.
The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:
March 31,
2017 2016
Options 22,887,417 -
Warrants 19,568,318 -
Series A convertible preferred stock 34,500,000 -
Series B convertible preferred stock 12,552,672,330 9,112,309,008
Convertible debentures 9,938,968,058 -
Total potentially dilutive shares 22,568,596,123 9,112,309,008
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