GOING CONCERN |
9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| GOING CONCERN |
NOTE 3 – GOING CONCERN
As
shown in the accompanying financial statements, the Company
incurred a loss from continuing operations of
$37,877
during the nine months ended September 30, 2011 and has an
accumulated deficit of $5,043,180 at September 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. The Company’s short term liquidity
needs are principally related to its operating expenses. It is
expected that this will get funded by its principal
stockholder. 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.
|