Friday, September 18, 2009 6:48:05 PM
We are in the development stage. There is no assurance that our activities will be profitable. The likelihood of our success must also be considered in light of the problems, expenses, difficulties, complications, delays and all of the inherent risks frequently encountered in the formation and operation of a relatively new business.
Going Concern
The financial statements are presented on the basis that we are a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business over a reasonable length of time.
Management believes that current plans to expand the our operations and a combination of financing and capital raising plans will provide sufficient working capital to allow us to continue as a going concern.
Costs of Conducting Business
We will still incur costs for research and development; however, the major work on the EC V has been completed. Our Marketing efforts will be expanded to include the new technologies we acquired. The ability to generate a profit . . .
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