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EXCEL - IDEA: XBRL DOCUMENT - Spotlight Innovation, Inc.Financial_Report.xls
10-Q - FORM 10-Q - Spotlight Innovation, Inc.aexp_10q.htm
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EX-32.1 - CERTIFICATION - Spotlight Innovation, Inc.aexp_ex321.htm
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v2.4.0.6
GOING CONCERN
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
Note 2 - GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred net losses for the period from inception to September 30, 2012 of $7,577,739; has negative working capital of $944,904 at September 30, 2012; and is currently in default on certain outstanding debt obligations. Accordingly, there is substantial doubt as to the ability of the Company to continue as a going concern. The Company intends to fund initial operations through equity financing or debt arrangements.

 

The ability of the Company to emerge from the exploration stage is dependent upon the Company’s successful efforts to raise sufficient capital and then attain profitable operations. There can be no assurances, however, that management’s expectations of future revenues will be realized.