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EXCEL - IDEA: XBRL DOCUMENT - NEW AMERICA ENERGY CORP.Financial_Report.xls
10-K - 10-K - NEW AMERICA ENERGY CORP.form10k.htm
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EX-31.1 - CERTIFICATION - NEW AMERICA ENERGY CORP.ex311.htm
EX-32.1 - CERTIFICATION - NEW AMERICA ENERGY CORP.ex321.htm
EX-31.2 - CERTIFICATION - NEW AMERICA ENERGY CORP.ex312.htm
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v2.4.0.6
Liquidity and Going Concern
12 Months Ended
Aug. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Liquidity and Going Concern

NOTE 2 – LIQUIDITY AND GOING CONCERN

 

We have negative working capital, and have incurred losses since inception, and have not yet generated revenues.  As we are in the exploration stage with our recently acquired mineral claims we do not expect to generate revenues for some period of time, if ever.  These factors create substantial doubt about the Company’s ability to continue as a going concern.  The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

 

The ability of the Company to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations.  Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.