1. OPERATIONS |
3 Months Ended |
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Sep. 30, 2011 | |
Going Concern Note |
1. OPERATIONS
Multiplayer
Online Dragon, Inc. (the “company”) was
incorporated in the State of Nevada on July 3, 2008. The
principal activity of the Company is planned to be designing,
hosting, and marketing collaborative internet search
communications systems.
On
December 21, 2010, as more fully discussed in Note 3, the
Company entered into an Agreement to participate in a Joint
Venture for the purpose of developing certain computer
software programs for commercialization.
Going
Concern
The
accompanying financial statements have been prepared on a
going concern basis, which assumes the Company will continue
to realize its assets and discharge its liabilities in the
normal course of business. The Company has incurred losses
totaling $491,103 for the period from July 3, 2008
(inception) to September 30, 2011. While the Company had
working capital of $103,897 at September 30, 2011, as
discussed in Note 3, the Company is committed to incurring
substantive Research and Development expenses in a software
development joint venture. Accordingly, it is likely the
Company will continue to experience significant losses in the
foreseeable future, for which it will continue to be
dependent upon additional funding through private placements.
There is no assurance that such funding, which may continue
to include related party sources (see Note 5), will be
available in the future. These factors raise substantial
doubt regarding the Company’s ability to continue as a
going concern. These 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
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