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Note 2 - Liquidity and Management's Plans
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Substantial Doubt about Going Concern [Text Block]

NOTE 2. LIQUIDITY AND MANAGEMENTS PLANS

 

As of December 31, 2022, the Company reported cash and cash equivalents of $1,787,248 and had working capital of $1,635,370.  The Company has reported operating income of $58,993 and cash flows from operations of $801,412 for the year ended December 31, 2022 and has an accumulated deficit of $69,670,404 at December 31, 2022.

 

Management believes that the Company has adequate cash resources to fund operations during the next 12 months after the filing of this annual report on Form 10-K. However, there can be no assurance that anticipated growth in new business will occur, and that the Company will be successful in launching new products and services. Management continues to seek alternative sources of capital to support the growth of future operations.

 

Although there can be no assurances, the Company believes that the above management plan will be sufficient to meet the Company’s working capital requirements through the end of March 2024 and will have a positive impact on the Company for the foreseeable future.