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EXCEL - IDEA: XBRL DOCUMENT - Bio-Matrix Scientific Group, Inc.Financial_Report.xls
10-Q - QUARTERLY REPORT - Bio-Matrix Scientific Group, Inc.bmsn_10qv.htm
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EX-31.2 - CERTIFICATION - Bio-Matrix Scientific Group, Inc.bmsn_ex312.htm
EX-32.2 - CERTIFICATION - Bio-Matrix Scientific Group, Inc.bmsn_ex322.htm
EX-31.1 - CERTIFICATION - Bio-Matrix Scientific Group, Inc.bmsn_ex311.htm
EX-10.1 - CONVERTIBLE PROMISSORY NOTE - Bio-Matrix Scientific Group, Inc.bmsn_ex101.htm
EX-32.1 - CERTIFICATION - Bio-Matrix Scientific Group, Inc.bmsn_ex321.htm
v2.4.0.6
Going Concern
3 Months Ended
Mar. 31, 2012
Organization, Consolidation and Presentation of Financial Statements  
Going Concern Note

NOTE 5. GOING CONCERN

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Exclusive of a onetime non-cash gain of $42,182,649 recognized upon the deconsolidation of Entest, The Company generated net losses of $ 14,600,936 (including $536,961 of Net Losses attributable to non-controlling interest in Entest and $663,649 in Equity in Net Losses of Entest) during the period from August 2, 2005 (inception) through March 31, 2012. This condition raises substantial doubt about the Company's ability to continue as a going concern. The Company's continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

Management plans to raise additional funds by offering securities for cash. Management has yet to decide what type of offering the Company will use or how much capital the Company will raise. There is no guarantee that the Company will be able to raise any capital through any type of offerings.