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EXCEL - IDEA: XBRL DOCUMENT - ROTATE BLACK INCFinancial_Report.xls
10-Q - QUARTERLY REPORT - ROTATE BLACK INCrobk_10q.htm
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EX-31.2 - CERTIFICATION - ROTATE BLACK INCrobk_ex312.htm
EX-32.2 - CERTIFICATION - ROTATE BLACK INCrobk_ex322.htm
EX-32.1 - CERTIFICATION - ROTATE BLACK INCrobk_ex321.htm
EX-31.1 - CERTIFICATION - ROTATE BLACK INCrobk_ex311.htm
v2.4.0.6
3. Going Concern
9 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
3. Going Concern

The financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred losses since inception, resulting in an accumulated deficit of $19,724,102 and negative working capital of $2,308,545, as of March 31, 2012 and further losses are anticipated. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Its ability to continue as a going concern is dependent upon the ability of the Company to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations arising from normal business operations when they come due. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue.

 

The Company’s plan is to resolve this issue with the commencement of management fees from the Gulfport Project Management Agreement and other future sources of revenue. Until these occur in sufficient amounts, the Company plans to sell registered and unregistered stock to accredited investors.