Horsts
2 weeks ago
They have nothing, so what can they do except selling stocks ? And how much can they sell, if all are already sold ?
I'he accompanying financial statements have been prepared assuming the Company will continue as a going concern.
which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of September 30, 2024, the Company had $0 in cash on hand and an accumulated deficit of $(2,382,975).
Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. There can be no assurances that the Company can continue to raise cash on favorable terms.
Cash and cash equivalents
The Company considers all cash on hand and in banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents. As of September, 2024 and September 30, 2022 we had $0 and $-0- in cash on hand respectively.
Revenue recognition
Revenues are accounted for in accordance with the FASB's Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606).
The amount of revenue recognized reflects the consideration which the Company expects to be entitled to receive in exchange for the products and/or services. To achieve this principle, the Company applies the following five steps:
1.Identify the contract with the customer;