GOING CONCERN

3 Months Ended

Mar. 31, 2016

Substantial Doubt about Going Concern [Text Block]

NOTE 3 – GOING CONCERN

The Company has not yet generated any revenue since inception to date and has sustained net loss of $72,073 for the three months ended March 31, 2016. The Company had a negative working capital of $11,154 and an accumulated deficit of $79,566 as of March 31, 2016. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity.

NextGlass Technologies Corp. 10-Q/A