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NOTE 3 - GOING CONCERN
|
12 Months Ended |
|---|---|
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Jul. 31, 2012
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| Going Concern Note |
NOTE
3 – GOING CONCERN
The
accompanying financial statements have been prepared assuming
that the Company will continue as a going concern, which
contemplates, among other things, the realization of assets
and satisfaction of liabilities in the normal course of
business. If the Company fails to generate positive cash flow
or obtain additional financing, when required, it may have to
modify, delay, or abandon some or all of its business and
expansion plans.
At
July 31, 2012, the Company had cash and cash equivalents of
$9 and working capital deficit of $165,967, which compares to
$72 cash and $41,396 working capital deficit as of July 31,
2011. The ability of the Company to emerge from the
development stage is dependent upon the Company’s
successful efforts to raise sufficient capital and then
attaining profitable operations. The Company intends to fund
operations through sales and equity financing
arrangements.
For
the year ended July 31, 2012 and 2011, the Company had net
operating losses of $124,453 and $72,742. From inception
through July 31, 2012 the Company incurred a cumulative net
operating loss of $241,846.
The
Company believes that its existing capital resources may not
be adequate to enable it to execute its business plan, and
that it will require additional cash resources during 2012
based on its current operating plan and
conditions. These conditions raise substantial doubt as to
the Company’s ability to continue as a going concern.
The accompanying statements do not include any adjustments
that might be necessary should the Company be unable to
continue as a going concern.
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MONAR INTERNATIONAL INC. - FORM 10-K - XML - IDEA: XBRL DOCUMENT - November 13, 2012
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