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NOTE 1: ORGANIZATION AND BASIS OF PRESENTATION: Going Concern (Policies)
6 Months Ended
Jun. 30, 2026
Policies  
Going Concern

Going Concern

 

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis which implies the Company will continue to meet its obligations for the next 12 months as of the date these financial statements are issued.

 

The Company had a working capital deficit of $24,788,849 and an accumulated deficit of $88,530,825 as of June 30, 2026. The Company also had a net loss of $2,597,180 for the six months ended June 30, 2026 and used cash in operating activities from continuing operations of $333,247 during that period.

 

Management’s plan to continue as a going concern includes raising capital in the form of debt or equity, growing the J Street and Prestige wine and beverage businesses, managing and reducing operating and overhead costs, and continuing to pursue strategic transactions and opportunities.

 

These matters, among others, raise substantial doubt about the ability of the Company to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. The Company is also pursuing discounted settlement of discontinued obligations.