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2. GOING CONCERN
9 Months Ended
Sep. 30, 2012
Going Concern  
NOTE 2. GOING CONCERN

As reflected in the accompanying unaudited consolidated financial statements for the nine months ended September 30, 2012, the Company had net losses of $1,819,970. Additionally, at September 30, 2012, the Company had a working capital deficit of $1,729,485, an accumulated deficit of $24,160,430 and a stockholders’ deficit of $1,616,308. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

Envision is pursuing a capital raise to raise at least an additional $2,000,000 during the next several months. Envision also intends to renegotiate the debt instruments that currently become due in December 2012. Further, the Company has previously contracted projects that are ongoing and continues to seek out new contracts and projects that will provide additional revenues and operating profits. All such actions and funds, if successful, are expected to be sufficient to cover monthly operating expenses as well as meet minimum payments with respect to the Company’s liabilities over the next twelve months in addition to providing additional working capital.

 

 The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.