NOTE 2 - GOING CONCERN AND PLAN OF OPERATION
The Company's financial statements have been presented on the basis that it will continue as a going concern. The Company has not generated significant revenues from operations to date. The Company has an accumulated deficit of $3,880,081 as of June 30, 2018.
To the extent that the Company's capital resources were insufficient to meet operating requirements, the Company has accessed loan funding arrangements to enable operations its future needs. These funds, of which the company has already received the first tranche of $200,000 in February, is being used to fund and establish the Company ’ s new manufacturing plant in Goldendale, WA.
A second tranche of $200,000 was due by the end of May, but due to constraints on financiers since the unexpected withdrawal of sub penny stock clearing by Alpine Securities, we have reorganized our terms with RB Capital whereas the $200K due in May has been reassigned. The balance of $1.1 million plus the $200,000
(Total 1.3 million), which completes the facility, will commence being received in late August- September of 2018 as originally planned. The Company does not anticipate that existing shareholders will provide any portion of the Company's future financing requirements.
No assurance can be given that the additional financing will be available when needed by the company. If adequate funds are not available, the Company may be required to delay or terminate expenditures for certain of its programs that it would otherwise seek to develop and commercialize.
