[...] Liquidity and Capital Resources At March 31, 2012, we had $5,160 in cash, as opposed to $2,482 in cash at December 31, 2011. Total cash requirements for operations for the three month period ended March 31, 2012 was $39,432. As a result of certain measures implemented to reduce corporate overhead, management estimates that cash requirements through the end of the fiscal year ended December 31, 2012 will be between $2.0 million to $5.5 million. As of the date of this Report, we do not have available resources sufficient to cover the expected cash requirements through the end of the second quarter of 2012 or the balance of the year. As a result, there is substantial doubt that we can continue as an ongoing business without obtaining additional financing. Management's plans for maintaining our operations and continued existence include selling additional equity securities and borrowing additional funds to pay operational expenses. There is no assurance we will be able to generate sufficient cash from operations, sell additional shares of Common Stock or borrow additional funds. Our inability to obtain additional cash could have a material adverse effect on our financial position, results of operations and our ability to continue its existence. If our losses continue and we are unable to secure additional financing, we may ultimately be required to seek protection from creditors under applicable bankruptcy laws. We had total current assets of $180,160 as of March 31, 2012. This was a decrease of $2,185, or 1%, as compared to current assets of $182,345 as of December 31, 2011. The decrease was primarily attributable to expense of the Company's prepaid expenses. We had total assets of $554,816 as of March 31, 2012. This was a decrease of 20,535, or 3.6%, as compared to total assets of $575,351 as of December 31, 2011. The decrease was primarily attributable to depreciation on fixed assets of $18,350. We had total current liabilities of $2,254,012 as of March 31, 2012. This was a decrease of $192,113, or 8%, as compared to current liabilities of $2,446,125 as of December 31, 2011. The net decrease was attributable to a decrease in Notes payable due to the conversion of loans into common stock. Our financial condition raises substantial doubt about our ability to continue as a going concern. Management's plan for our continued existence includes selling additional stock through private placements and borrowing additional funds to pay overhead expenses while maintaining marketing efforts to raise our sales volume. Our future success is dependent upon our ability to achieve profitable operations, generate cash from operating activities and obtain additional financing. There is no assurance that we will be able to generate sufficient cash from operations, sell additional shares of common stock or borrow additional funds. Our inability to obtain additional cash could have a material adverse effect on our financial position, results of operations and our ability to continue as a going concern. __________________________________________________ Quelle: http://biz.yahoo.com/e/120515/ecos.ob10-q.html
Anmerkung: Fett formatierte Stellen von mir - im Original normal formatiert. |
Thread abonnieren
