GOING CONCERN |
6 Months Ended |
|---|---|
Jun. 30, 2011 | |
| GOING CONCERN |
NOTE 3 – GOING CONCERN
As
shown in the accompanying financial statements, the Company
incurred a loss from continuing operations of $28,296 during
the six months ended June 30, 2011 and has an accumulated
deficit of $5,033,599 at June 30, 2011. Management in
October 2008 dissolved the saw mill operations in Australia which
was in receivership, spun out the bankrupt subsidiary and is
currently looking for a merger candidate for the public shell. Our
short term liquidity needs are principally related to our operating
expenses. It is expected that this will get funded by our principal
stockholder or other investors. The accompanying
financial statements have been prepared assuming that the Company
will continue as a going concern and do not include any adjustments
as a result of this uncertainty.
|