Quarterly report pursuant to Section 13 or 15(d)

Going Concern

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Going Concern
9 Months Ended
Sep. 30, 2018
Going Concern [Abstract]  
GOING CONCERN
2. GOING CONCERN

 

The accompanying consolidated financial statements and notes have been prepared assuming the Company will continue as a going concern. For the nine months ended September 30, 2018, the Company incurred a net loss of $3,944,256, generated negative cash flow from operations, has an accumulated deficit of $33,941,033 and working capital deficit of $2,541,046. These circumstances raise substantial doubt as to the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to create and market innovative products, raise capital, reduce debt or renegotiate terms, and to sustain adequate working capital to finance its operations. The failure to achieve the necessary levels of profitability and cash flows or obtain additional funding would be detrimental to the Company. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.