v3.26.1
Going Concern
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

Note 2 – Going Concern

 

The accompanying unaudited consolidated condensed financial statements have been prepared in conformity with generally accepted accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplate continuation of the Company as a going concern. The Company had no revenues and incurred losses during the six months ended June 30, 2026 and 2025 totaling $2,871,675 and $2,486,382, respectively. In addition, the accumulated deficit amounted to $16,489,781 and $13,618,106 as of June 30, 2026 and December 31, 2025, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

 

Management intends to fund ongoing operations through a combination of existing cash balances, future capital raises through debt and equity, and cash receipts from anticipated revenue. However, the Company had cash of $54,661 at June 30, 2026 and used $1,650,150 of cash in operating activities during the six months then ended. Management’s plans are not considered probable of being effectively implemented and therefore do not alleviate the substantial doubt about the Company’s ability to continue as a going concern for at least one year from the date the condensed consolidated financial statements are issued. In order to continue as a going concern, the Company will need, among other things, additional capital resources. The Company is significantly dependent upon its ability to secure additional equity and/or debt financing. There are no assurances that the Company will be successful in obtaining additional capital.

 

The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These financial statements do not include any adjustments that might arise from this uncertainty.