When used in this Annual Report, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements regarding events, conditions, and financial trends that may affect our future plans of operations, business strategy, operating results, and financial position.
Persons reviewing this Annual Report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and actual results may differ materially from those included within the forward-looking statements as a result of various factors.
Our future results and shareholder values may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results and values are beyond our ability to control or predict.
We may be required to update these forward-looking statements from time to time as circumstances change; however, we undertake no duty to do so.
Plan of Operation
We discontinued our business operations comprising the TOR-technology in
We now intend to focus our efforts on finding a new business opportunity for the benefit of our shareholders.
Results of Operations
Year Ended
General and administrative expenses during the fiscal year ended
During the fiscal year ended
Liquidity and Capital Resources
Current assets at
At
16 Capital Resources
During the fiscal year ended
During the fiscal year ended
During the fiscal year ended
We intend to fund future operations for the next 12 months through cash flows generated from operations, current cash on hand and the proceeds from advances from a related entity. If these cash flows are not sufficient to fund operations, we may be required to raise capital through either a debt or equity financing. These contributions are expected to satisfy amounts in accounts payable and potentially be used for operations. Currently, we cannot provide assurance that such financing will be available to us on favorable terms, or at all. If, after utilizing the existing sources of capital available to us, further capital needs are identified and if we are not successful in obtaining the required financing, we may be forced to curtail our existing or planned future operations. These factors raise substantial doubts about the Company's ability to continue as a going concern. We believe our plans will enable us to continue our current operations for a period in excess of one year from the date of our most recent balance sheet.
Off-Balance Sheet Arrangements
We had no off-balance sheet arrangements for the two fiscal years ended
© Edgar Online, source