IMPERIAL PETROLEUM RECOVERY CORP - FORM 10-K - XML - IDEA: XBRL DOCUMENT - December 4, 2012

NOTE B - GOING CONCERN

As shown in the accompanying financial statements, the Company has incurred recurring losses and has an accumulated deficit as of $21,456,365 as of October 31, 2011 and a negative working capital of $5,928,018 as of the same date. The Company generated minimal revenues in its operations in 2011 and the Company continues to be dependent on its ability to generate future revenues, positive cash flows and additional financing. There can be no guarantee that the Company will be successful in generating future revenues, in obtaining additional debt or equity financing or that such additional debt or equity financing will be available on terms acceptable to the Company. These factors raise substantial doubt about the company's ability to continue as going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.