NOTE 7. GOING CONCERN |
9 Months Ended |
|---|---|
Sep. 30, 2016 | |
| Notes to Financial Statements | |
| NOTE 7. GOING CONCERN |
The Company has suffered recurring losses from operations and has a working capital deficit and stockholders' deficit, and in all likelihood will be required to make significant future expenditures in connection with continuing marketing efforts along with general administrative expenses. As of September 30, 2016, the accumulated deficit is $17,001,034. These conditions raise substantial doubt about the Companys ability to continue as a going concern.
The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions or others. By doing so, the Company hopes to generate revenues from sales of its alcohol sensing and ignition lock systems. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern. |