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EXCEL - IDEA: XBRL DOCUMENT - AMERIGO ENERGY, INC.Financial_Report.xls
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v2.4.0.6
BASIS OF PRESENTATION: Going Concern (Policies)
3 Months Ended
Sep. 30, 2012
Policies  
Going Concern

Going Concern

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.  The Company has incurred cumulative net losses of approximately $15,876,814 since its inception and requires capital for its contemplated operational and marketing activities to take place.  The Company's ability to raise additional capital through the future issuances of the common stock is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.