2. Going Concern and Liquidity

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern and Liquidity

NOTE 2. GOING CONCERN AND LIQUIDITY

As of September 30, 2019, and December 31, 2018, the Company had $192,503 and $464,118 in cash on hand respectively, and no revenue-producing business or other sources of income. Additionally, as of September 30, 2019, the Company had outstanding liabilities totaling $9,856,344 and $192,503 in short term liquid assets.

In the Company’s financial statements for the fiscal years ended December 31, 2018, and 2017, the Reports of the Independent Registered Public Accounting Firm include an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern. These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. Based on our current financial projections, we believe we do not have sufficient existing cash resources to fund our current limited operations.

It is the Company’s current intention to raise debt and/or equity financing to fund ongoing operating expenses. There is no assurance that these events will be satisfactorily completed or at terms acceptable to the Company. Any issuance of equity securities, if accomplished, could cause substantial dilution to existing stockholders. Any failure by the Company to successfully implement these plans would have a material adverse effect on its business, including the possible inability to continue operations.