Going Concern |
6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | |||||||||||
| Going Concern |
2. Going
Concern
The
accompanying consolidated financial statements have been prepared
in conformity with accounting principles generally accepted in the
United States of America (“GAAP”), which contemplate
continuation of the Company as a going concern. As reflected
in the accompanying consolidated financial statements, the Company
has losses from operations and negative cash flows from operations
and current liabilities exceed current assets. These conditions
raise substantial doubt as to the Company’s ability to
continue as a going concern.
In
view of the matters described in the preceding paragraph,
recoverability of a major portion of the recorded asset amounts
shown in the accompanying consolidated balance sheet is dependent
upon continued operations of the Company, which, in turn, is
dependent upon the Company’s ability to continue to raise
capital and ultimately generate positive cash flows from
operations. The financial statements 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 its
existence.
Management
has taken or plans to take steps that it believes will be
sufficient to provide the Company with the ability to continue in
existence, including the following:
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