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EXCEL - IDEA: XBRL DOCUMENT - XIANGTIAN (USA) AIR POWER CO., LTD.Financial_Report.xls
10-Q - QUARTERLY REPORT - XIANGTIAN (USA) AIR POWER CO., LTD.goas_10q.htm
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EX-32.1 - CERTIFICATION - XIANGTIAN (USA) AIR POWER CO., LTD.goas_ex32.htm
EX-31.1 - CERTIFICATION - XIANGTIAN (USA) AIR POWER CO., LTD.goas_ex31.htm
v2.4.0.6
GOING CONCERN
3 Months Ended
Oct. 31, 2012
Notes  
GOING CONCERN

NOTE 3 - GOING CONCERN

 

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred losses since its inception resulting in an accumulated deficit of $114,868 as of October 31, 2012 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or the private placement of the Company’s common stock.