||Nature of Operations and Going Concern|
CELLDONATE INC. (the Company)
was incorporated under Chapter 78 of the Nevada Revised Statutes of the State of Nevada on August 15, 2006, and has its
head office in Las Vegas, Nevada. The Company is a development stage company in the business of developing mobile and social media
advertising solutions. The Company develops online and mobile applications, games and tools which are designed to engage consumers
in transacting e-commerce transactions and presenting deals and offers to consumers. The Company will require additional financing
to complete the development of its anticipated products and market them to customers. The Company has not generated any sales revenue
The Companys interim
financial statements have been prepared on a going concern basis, which contemplates the realization of assets and discharge of
liabilities in the normal course of business. Several adverse conditions cast substantial doubt on the validity of this assumption.
The Company has incurred losses since inception and has an accumulated deficit of $362,873 as of September 30, 2012, has limited
resources and no source of operating cash flows. As at September 30, 2012, the Company has a working capital deficiency of $306,733
(March 31, 2012 - $273,917).
The Companys continuance
as a going concern is dependent on the success of the efforts of its directors and principal stockholders in providing financial
support in the short-term, raising additional equity or debt financing either from its own resources or from third parties, and
achieving profitable operations. In the event that such resources are not secured, the assets may not be realized or liabilities
discharged at their carrying amounts, and the difference from the carrying amounts reported in these interim financial statements
could be material.
The accompanying interim
financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification
of the assets or the amounts and classifications of the liabilities that may result from the inability of the Company to continue
as a going concern.