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EXCEL - IDEA: XBRL DOCUMENT - HK BATTERY TECHNOLOGY INCFinancial_Report.xls
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EX-21.1 - EXHBIT 21.1 SUBSIDIARIES OF THE REGISTRANT - HK BATTERY TECHNOLOGY INCsubsidiaries_ex21z1.htm
EX-31.1 - EXHIBIT 31.1 SECTION 302 CERTIFICATION - HK BATTERY TECHNOLOGY INCsection302cert_ex31z1.htm
EX-32.1 - EXHIBIT 32.1 SECTION 906 CERTIFICATION - HK BATTERY TECHNOLOGY INCsection906cert_ex32z1.htm
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10-K - FORM 10-K ANNUAL REPORT - HK BATTERY TECHNOLOGY INCannualreport_10k.htm
v2.4.0.6
GOING CONCERN
12 Months Ended
Dec. 31, 2011
GOING CONCERN  
GOING CONCERN

NOTE 3 - GOING CONCERN

 

The Company's 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. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern.

 

Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business.

 

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern.  

 

During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with research and development. The Company may experience a cash shortfall and be required to raise additional capital.

 

Historically, it has mostly relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse affect upon it and its shareholders.