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1. OPERATIONS
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3 Months Ended |
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Dec. 31, 2011
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| 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 $501,165 for the period from July 3, 2008
(inception) to December 31, 2011. While the Company had
working capital of $93,835 at December 31, 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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