Annual report pursuant to section 13 and 15(d)

2. Going Concern

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2. Going Concern
12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
2. Going Concern

At December 31, 2012, the Company had a working capital deficit of $8.0 million and an accumulated deficit of $154.7 million. The Company has continued to sustain losses from operations. In addition, the Company has not generated positive cash flow from operations since inception, and its current cash resources are not adequate to fund the Company’s operations for the next twelve months. During the year ended December 31, 2012, the Company received $6.9 million through the sale of its equity securities. The Company cannot provide any assurances as to if and when it will achieve profitability or generate positive cash flows from operations. These conditions, among others, raise substantial doubt about the Company's ability to continue operations as a going concern. No adjustment has been made in the consolidated financial statements to the amounts and classification of assets and liabilities which could result should the Company be unable to continue as a going concern.