From 10Q
Plan of Operation
We are a start-up, Exploration Stage corporation and have not yet generated or realized any revenues from our business activities.
Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated until the Joint Venture obtains funding and starts operation pursuant to a formal approval under Chinese law. Accordingly, we must raise cash from sources other than revenue from the Joint Venture operation. Our only other source for cash at this time is investment by related parties and others. The cash we raise may allow us to stay in business for at least one year. If able to attract sufficient capital, our success or failure will be determined by whether the Joint Venture could be successful in the on-line video sharing industry.
Can anyone provide information regarding formal approval under Chinese law? Would be very helpful for me. TIA
"A man doesn't know what he knows until he knows what he doesn't know"
