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Uncertainty Of Ability To Continue As A Going Concern
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12 Months Ended | ||
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Mar. 31, 2012
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| Accounting Policies [Abstract] | |||
| Uncertainty Of Ability To Continue As A Going Concern |
The Company’s financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has not generated a sustainable source of income and has accumulated deficit of $907,718 at March 31, 2012.
In view of the matters described above, recoverability of a major portion of the recorded asset amounts shown in the accompanying balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to raise additional capital, obtain financing and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
Management has taken the following steps to revise its operating and financial requirements, which it believes are sufficient to provide the Company with the ability to continue as a going concern. The Company is actively pursuing the new business development company activities and additional funding from strategic partners, which would enhance stockholders’ investment. Management believes that the above actions will allow the Company to continue operations through the next fiscal year. |
Morris Business Development Co - FORM 10-K - XML - IDEA: XBRL DOCUMENT - July 5, 2012
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