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EXCEL - IDEA: XBRL DOCUMENT - Panache Beverage, Inc.Financial_Report.xls
10-Q/A - Panache Beverage, Inc.panache10qa.htm
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v2.4.0.6
NOTE 14 - GOING CONCERN
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
NOTE 14 - GOING CONCERN

 

NOTE 14 - GOING CONCERN

 

These consolidated financial statements have been prepared assuming that Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future.

 

As of March 31, 2012, the Company had a deficit of $1,231,844. Management has taken certain actions and continues to implement changes designed to improve the Company’s financial results and operating cash flows. The actions involve certain cost-saving initiatives and growing strategies, including (a) reductions in operating expenses; and (b) expansion of the business model into new markets. Management believes that these actions will enable the Company to improve future profitability and cash flow in its continuing operations through March 31, 2013. As a result, the financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of the Company’s ability to continue as a going concern.