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Going Concern
12 Months Ended
Dec. 31, 2016
Going Concern [Abstract]  
Going Concern

3.

Going Concern


Since its inception, with the exception of the years ended December 31, 2007 and December 31, 2013, December 31, 2014 and December 13, 2016, during which it generated net income of $386,000 and $10,300, $7,700 and $258,500, respectively, the Company has incurred significant losses and, as of December 31, 2016, had accumulated losses of $13,192,200. For the year ended December 31, 2016, the Company had net income from operations of $271,800. For the year ended December 31, 2015 Company’s had a net loss from operations of $38,700. The Company had negative working capital of $194,600 at December 31, 2016 and $364,000 at December 31, 2015. The Company, which is substantially dependent on its licensees to generate licensing revenues, may incur operating losses and experience negative cash flow in the future. Sustaining profitability and positive cash flow depends on the Company’s ability to maintain the increases in revenues and gross profits that it realized in 2016 from its traditional business. There can be no assurances that the Company will be able to generate sufficient revenues and gross profits to sustain profitability and positive cash flow in the future.


Receipt of funds in earlier periods from investors and from demand loan holders have allowed the Company to remain in operation through the current date. Management of the Company believes that it may need additional capital in the future both to fund investments that may be needed to maintain operating revenues at levels that will sustain its operations and maintain the levels of operating income and positive cash flow achieved during 2016. There can be no assurances that the Company will be successful in obtaining sufficient additional capital, or if it does, that the additional capital will enable the Company to impact its revenues so as to have a material positive effect on the Company’s operations and cash flow. The Company believes that without additional capital, whether in the form of debt, equity or both, it may be not be able to satisfy its debts as they  become due.


The above mentioned factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the date the financial statements are issued. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.