NOTE 3: GOING CONCERN
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12 Months Ended |
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Dec. 31, 2012
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Going Concern Disclosure [Text Block] |
NOTE
3: GOING CONCERN
The
accompanying financial statements have been prepared on a
going concern basis of accounting which contemplates
continuity of operations, realization of assets, liabilities,
and commitments in the normal course of business. The
accompanying financial statements do not reflect any
adjustments that might result if the Clean Coal is unable to
continue as a going concern. Clean Coal has an accumulated
deficit and limited working capital as of December 31, 2012.
Management believes Clean Coal will need to raise capital in
order to operate over the next 12 months. As shown in the
accompanying financial statements, Clean Coal has also
incurred significant losses since inception. Clean
Coal’s continuation as a going concern is dependent
upon its ability to generate sufficient cash flow to meet its
obligations on a timely basis and ultimately to attain
profitability. Clean Coal has limited capital with which to
pursue its business plan. There can be no assurance that
Clean Coal’s future operations will be significant and
profitable, or that Clean Coal will have sufficient resources
to meet its objectives. These conditions raise substantial
doubt as to Clean Coal’s ability to continue as a going
concern. Management may pursue either debt or equity
financing or a combination of both, in order to raise
sufficient capital to meet Clean Coal’s financial
requirements over the next twelve months and to fund its
business plan. There is no assurance that management will be
successful in raising additional funds.
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