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Going Concern
9 Months Ended
Nov. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN

NOTE 2 – GOING CONCERN


The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company is reporting in this Quarterly Report operating losses of approximately $326,000 and $1,189,000 for the three and nine-months ended November 30, 2020, respectively, and negative cash flow from operating activities of approximately $1,246,000 for the nine-months ended November 30, 2020; such factors raise substantial doubt about the Company’s ability to continue as a going concern.


If the Company is unable to generate profits on a sustained basis and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether.


Substantial additional capital resources will be required to fund continuing expenditures related to our research, development, manufacturing and business development activities. The Company’s continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to retain its current financing, to obtain additional financing, and ultimately to attain profitability.


Beginning with the second quarter of Fiscal 2020, we increased operations of our AuraGen®/VIPER business and revenue for the three and nine-months ended November 30, 2020 of Fiscal 2021 was approximately $7,800 and $61,000, respectively, as compared to approximately $397,000 and $745,000 of revenue in the comparable periods of Fiscal 2020.