Quarterly report pursuant to Section 13 or 15(d)

Going Concern

v3.23.1
Going Concern
3 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

Note 2 – Going Concern

 

The consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company provided $14,246 of cash in operating activities during the three months ended March 31, 2023, and currently has $221,065 in cash as of March 31, 2023. Additionally, at March 31, 2023, the Company had an accumulated deficit of $5,060,807 and a working capital deficit of $3,765,602.

 

There is substantial doubt about the Company to continue as a going concern for a period of twelve months from the date of these financial statements were made available. The Company without additional sources of debt or equity capital would potentially need to cease operations. Management plans to seek to raise additional capital within the next twelve months that is expected to sustain its operations for the next year. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain restrictions on our operations, in the case of debt financing or cause substantial dilution for our stockholders, in case of equity financing. In addition, the Company expects to begin a marketing campaign to market and sell its services. There can be no assurance that such a plan will successful.

 

The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.