GOING CONCERN |
12 Months Ended |
---|---|
Sep. 30, 2019 | |
GOING CONCERN [Abstract] | |
GOING CONCERN |
NOTE 3 - GOING CONCERN
The Company's
consolidated financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a going
concern which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. The Company reported a net loss of
approximately $176,000 and $532,000 for the years ended September 30, 2019 and
2018, respectively. As of September 30, 2019, the Company has an accumulated
deficit of approximately $16.2 million and a working capital deficit of
approximately $1.05 million. The Company believes the acquisition of the ReadyOp
software platform in 2016 was a prudent purchase by the Company. Additional
revenue has been generated for the Company and management believes revenue will
continue to increase each quarter. In order to continue as a going concern, the
Company will need, among other things, additional capital resources. Management
is currently seeking funding from significant shareholders and outside funding
sources sufficient to meet its minimal operating expenses. However, management
cannot provide any assurances that the Company will be successful in
accomplishing any of its capital funding plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |