NOTE
1: ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING
CONCERN:
Accelerize
New Media, Inc., or the
Company, a Delaware corporation, incorporated in November
2005, is an online-based media and customer acquisition
solutions provider.
The
Company offers a comprehensive online media solution for
clients to reach their target audience on the Internet. The
Company provides multifaceted online marketing services
specializing in the development of performance based
marketing programs and related software solutions for
businesses interested in expanding their online advertising
presence. In February 2011, the Company decided to
allocate more resources to its software solutions,
discontinued its lead generation business and disposed of
this segment to a third-party for an up-front consideration
of $20,000 and a percentage of future revenues that might
be generated by the third-party through February
2012.
The
accompanying financial statements have been prepared on a
going concern basis. The Company has used net cash in its
operating activities of approximately $644,000 during
2011. The Company's ability to continue as a
going concern is dependent upon its ability to obtain the
necessary financing to meet its obligations and repay its
liabilities arising from normal business operations when
they come due, to fund possible future acquisitions, and to
generate profitable operations in the future. Management
plans may continue to provide for its capital requirements
by issuing additional equity securities and debt. The
outcome of these matters cannot be predicted at this time
and there are no assurances that if achieved, the Company
will have sufficient funds to execute its business plan or
generate positive operating results.
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