Let's not forget the ole CHEESEBERGER eating CEO's BONUS.. ok?? Sheesh - losses of 31 million dollars and he give himself a stock bonus to dump on you...
Officer Salaries:
Officer salaries expense totaled $78,350 for the three months ended March 31, 2017, compared to $43,750, for the three months ended March 31, 2016, an increase of $34,600, or 79%. The increase was due to a bonus of 2,000,000 shares issued to our CEO in the current year valued at $34,600.
Note 2 – Going Concern
As shown in the accompanying condensed consolidated financial statements, the Company has incurred recurring losses from operations resulting in an accumulated deficit of ($31,381,015), and as of March 31, 2017, the Company’s current liabilities exceeded its current assets by $1,437,657. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management is actively pursuing new ventures to increase revenues. In addition, the Company is currently seeking additional sources of capital to fund short term operations. Management believes these factors will contribute toward achieving profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
The financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company’s ability to continue as a going concern. These financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.
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