NOTE 4 GOING CONCERN

9 Months Ended

Sep. 30, 2013

Going Concern Disclosure [Abstract]

Going Concern Disclosure [Text Block]

NOTE 4     GOING CONCERN

The Company’s consolidated financial statements are prepared using US GAAP applicable to a going concern which contemplates the realization of assets and settlement of liabilities in the normal course of business.  The Company has incurred significant losses from its inception through September 30, 2013, which have resulted in an accumulated deficit of $31,042,888 as of September 30, 2013.  The Company does not have funds sufficient to cover its operating costs for the next 12 months, has a working capital deficit of $2,980,355, and has relied on debt and equity financing to sustain its operations.  Accordingly, there is substantial doubt about its ability to continue as a going concern.

Continuation of the Company as a going concern is dependent upon future revenues, obtaining additional capital and ultimately, upon the Company’s attaining profitable operations.  The Company will require substantial, additional funds to complete the development of its products, perform hospital beta testing and fund additional losses, until future revenues are sufficient to cover the Company’s operating expenses. If the Company is unsuccessful in obtaining additional funding, it may be forced to substantially reduce or cease operations.

The Company believes that it will need approximately $2,000,000 over the next 12 months for continuing research expenses, marketing, and related activities, as well as for general corporate purposes, including expanded manufacturing and sales.  

During 2012, the Company raised a total of $1,420,793 through the sale of 16,729,278 shares of common stock at prices ranging from $0.05 to $0.165 per share, which funds have been used pay current obligations and to pay for the initial costs of development for its hospital disinfection system.  During the nine months ended September 30, 2013, the Company raised a total of $1,160,250 through the sale of 26,891,412 shares of common stock at prices ranging from $0.03 to $0.06 per share.  The Company believes it will be able to raise additional funds from some of the same investors who have purchased shares from 2009 to 2013, although there is no guarantee that these investors will purchase additional shares.  Certain of these investors have orally committed to continue to fund the Company’s projects on a monthly basis.

Continuing as a going concern is dependent on the Company’s ability to successfully accomplish the plan described in the preceding paragraphs and eventually attain profitable operations.  The consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of these uncertainties.