Management believes the Company's ability to continue as a going concern is alleviated because the Company was able to obtain third party financing subsequent to year end through the issuance of a convertible promissory note (the “Note”) for the amount of $500,000, bearing interest at 20% per annum, of which $350,000 has been received during February of 2007 (See Note 14). Management also believes its other current sources of liquidity as of March 31, 2007, included approximately $183,066 in cash and cash equivalents, and a $256,410 line of credit available for use under its current line of credit facility, are sufficient to satisfy its cash requirements over the next twelve months. Although there is no assurance that such financing will be available, or if available, that such financing will be available on reasonable terms, management believes it has the ability to borrow additional funds from third parties such as financial institutions or will be successful in a debt or equity financing that will be sufficient to fund its operations for the next twelve months.
