Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - SMALL BUSINESS CO | f8kformsbco.htm |
| EX-99 - PRESS RELEASE - SMALL BUSINESS CO | sbcopressrelease5.htm |
| Balance Sheets (unaudited) |
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| June 30, |
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| June 30, |
| June 30, |
| June 30, |
| 2008 |
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| 2011 |
| 2010 |
| 2009 |
| (To be Restated) |
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ASSETS |
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Current Assets |
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| Cash | $ - |
| $ 280 |
| $ 1,037 |
| $ 20,352 |
| Accounts Receivable | - |
| 6,100 |
| - |
| - |
| Escrow Fees Receivable | - |
| - |
| - |
| - |
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| Total Current Assets | - |
| 6,380 |
| 1,037 |
| 20,352 |
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Long-Term Assets |
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| Prepaid Expenses | - |
| - |
| 35,177 |
| 11,118 |
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| Total Long-Term Assets | - |
| - |
| 35,177 |
| 11,118 |
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Total Assets | $ - |
| $ 6,380 |
| $ 36,214 |
| $ 31,470 | |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current Liabilities |
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| Accounts Payable | $ - |
| $ 7,879 |
| $ 9,127 |
| $ 9,585 |
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| Total Current Liabilities | - |
| 7,879 |
| 9,127 |
| 9,585 |
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Long-Term Liabilities |
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| Notes Payable | 77,860 |
| 76,960 |
| 80,640 |
| 193,213 |
| Convertible Debentures - Net | 300,000 |
| 300,000 |
| 288,981 |
| 266,943 |
| Accrued Tax Liability | 2,894 |
| 2,141 |
| 788 |
| 788 |
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| Total Long Term Liabilities | 380,755 |
| 379,101 |
| 370,409 |
| 460,945 |
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| Total Liabilities | 380,755 |
| 386,980 |
| 379,536 |
| 470,530 |
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Stockholders' Equity |
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| Common Stock, authorized 500,000,000 |
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| shares, par value $0.0001 | 11,357 |
| 11,357 |
| 5,638 |
| 2,546 |
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| Additional Paid-in Capital | 2,922,659 |
| 2,922,659 |
| 2,772,170 |
| 2,018,116 |
| Deficit Accumulated during Development Stage | (3,314,771) |
| (3,314,616) |
| (3,121,130) |
| (2,459,721) |
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| Total Stockholders' Equity | (380,755) |
| (380,600) |
| (343,322) |
| (439,060) |
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Total Liabilities and Stockholders' Equity | $ - |
| $ 6,380 |
| $ 36,214 |
| $ 31,470 | |
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| The accompanying notes are an integral part of these statements |
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| Statements of Operations (unaudited) |
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| June 30, |
| For the Fiscal Years Ended | June 30, |
| June 30, |
| June 30, |
| 2008 |
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| 2011 |
| 2010 |
| 2009 |
| (To be Restated) |
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Income |
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| Consulting Revenue | $ 24,022 |
| $ 44,415 |
| $ 4,998 |
| $ 3,613 |
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Operating Expenses |
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| General and Administrative | 22,465 |
| 30,477 |
| 62,287 |
| 209,688 |
| Advertising and Related | - |
| 25 |
| 9,400 |
| 47,532 |
| Consulting and Professional Fees | 1,275 |
| 22,414 |
| 106,091 |
| 254,494 |
| Impairment Expense | - |
| - |
| - |
| 25,017 |
| Stock Issuance Costs | - |
| 168,431 |
| 444,553 |
| 383,222 |
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| Total Expenses | 23,740 |
| 221,347 |
| 622,331 |
| 919,953 |
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Net Loss from Operations | 283 |
| (176,932) |
| (617,333) |
| (916,340) | |
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Other Expenses |
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| Interest Expense | 438 |
| 16,554 |
| 44,076 |
| 119,655 |
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Net Loss before Income Tax | (155) |
| (193,486) |
| (661,409) |
| (1,035,995) | |
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| Income Tax | - |
| - |
| - |
| - |
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Net Income/(Loss) | $ (155) |
| $ (193,486) |
| $ (661,409) |
| $ (1,035,995) | |
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Basic and Diluted |
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| (Loss) per Share | $ (0.00) |
| $ (0.00) |
| $ (0.02) |
| $ (0.05) |
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Weighted Average |
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Number of Shares | 13,285,849 |
| 104,051,743 |
| 34,605,768 |
| 19,404,386 | |
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| The accompanying notes are an integral part of these statements |
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Statement of Stockholder's Equity (Deficit) (unaudited) |
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| (Deficit) |
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| Accumulated |
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| Prepaid |
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| during |
| Total |
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| Common Stock |
| Paid in |
| Expense |
| Subscriptions |
| Development |
| Equity/ | ||
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| Shares |
| Amount |
| Capital |
| Stock Related |
| Receivable |
| Stage |
| (Deficit) |
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Common Shares issued to Founders |
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for Services at $0.0001 |
| 13,000,000 |
| $ 1,300 |
| $ - |
| $ - |
| $ - |
| $ - |
| $ 1,300 |
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Common Shares issued for Cash |
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between 6 and 16-Jan-03 at $0.04 |
| 250,000 |
| 25 |
| 9,975 |
| - |
| - |
| - |
| 10,000 |
between 17-Jan and1-May-03 at $0.15 |
| 553,334 |
| 55 |
| 82,945 |
| - |
| - |
| - |
| 83,000 |
on 4-Mar-03 at $0.10 |
| 100,000 |
| 10 |
| 9,990 |
| - |
| - |
| - |
| 10,000 |
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| - |
Net Income (Loss) |
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| (90,278) |
| (90,278) |
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Balance, June 30, 2003 |
| 13,903,334 |
| 1,390 |
| 102,910 |
| - |
| - |
| (90,278) |
| 14,022 |
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Common Shares issued for Cash |
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Between 30 Dec 03 and 5 Apr 04 at $0.25 |
| 200,000 |
| 20 |
| 49,980 |
| - |
| - |
| - |
| 50,000 |
Common Shares issued for Services |
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on 2-Jan-04 at $0.25 |
| 493,000 |
| 49 |
| 123,201 |
| - |
| - |
| - |
| 123,250 |
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Net Income (Loss) |
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| (225,883) |
| (225,883) |
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Balance, June 30, 2004 |
| 14,596,334 |
| 1,459 |
| 276,091 |
| - |
| - |
| (316,161) |
| (38,611) |
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Common Shares issued for Cash |
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between 18-Nov-04 to 31-Dec 04 at $0.57 |
| 1,364,000 |
| 137 |
| 77,363 |
| - |
| - |
| - |
| 77,500 |
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Net Income (Loss) |
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| (9,547) |
| (9,547) |
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Balance, June 30, 2005 |
| 15,960,334 |
| 1,596 |
| 353,454 |
| - |
| - |
| (325,708) |
| 29,342 |
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Cash for Stock Subscriptions |
| - |
| - |
| - |
| - |
| 75,000 |
| - |
| 75,000 |
Common Shares issued for Cash |
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on 23-Aug-05 at $0.25 |
| 10,000 |
| 1 |
| 2,499 |
| - |
| - |
| - |
| 2,500 |
Common Shares issued for Service |
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on 15-Sep-05 at $0.25 |
| 75,000 |
| 8 |
| 18,742 |
| - |
| - |
| - |
| 18,750 |
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Net Income (Loss) |
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| (104,884) |
| (104,884) |
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Balance, June 30, 2006 |
| 16,045,334 |
| 1,605 |
| 374,695 |
| - |
| 75,000 |
| (430,592) |
| 20,708 |
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Cash for Stock Subscriptions |
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on 10-Aug-06 |
| - |
| - |
| - |
| - |
| 25,000 |
| - |
| 25,000 |
Common Shares issued for Service |
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on 21-Aug-2006 $0.25 |
| 100,000 |
| 10 |
| 24,990 |
| - |
| - |
| - |
| 25,000 |
Cash for Stock Subscriptions |
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on 02-Nov-06 |
| - |
| - |
| - |
| - |
| 50,000 |
| - |
| 50,000 |
Common Shares issued for Cash |
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on 19-Jan-2007 at $0.35 |
| 40,000 |
| 4 |
| 13,996 |
| - |
| - |
| - |
| 14,000 |
Common Shares issued for Cash |
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on 12-Feb-2007 at $0.26 |
| 180,000 |
| 18 |
| 46,782 |
| - |
| - |
| - |
| 46,800 |
Common Shares issued for Consulting |
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services on 20-Feb-2007 at $0.27 |
| 300,000 |
| 30 |
| 80,970 |
| - |
| - |
| - |
| 81,000 |
Common Shares issued for Service |
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on 13-Mar-2007 at $ 0.26 |
| 10,000 |
| 1 |
| 2,599 |
| - |
| - |
| - |
| 2,600 |
Common Shares issued on prepaid |
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subscriptions on 04-Apr-2007 at $0.30 |
| 250,000 |
| 25 |
| 74,975 |
| - |
| (25,000) |
| - |
| 50,000 |
Common Shares issued for Service |
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on 10-May-2007 at $0.33 |
| 10,000 |
| 1 |
| 3,299 |
| - |
| - |
| - |
| 3,300 |
Common Shares issued in payment |
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of Interest on 14-Jun-2007 at $0.28 |
| 187,500 |
| 19 |
| 52,481 |
| - |
| - |
| - |
| 52,500 |
Common Shares issued on prepaid |
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subscriptions on 27-Jun-2007 at $0.30 |
| 300,000 |
| 30 |
| 89,970 |
| - |
| (25,000) |
| - |
| 65,000 |
Common Shares issued on prepaid |
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subscriptions on 27-Jun-2007 at $0.30 |
| 1,000,000 |
| 100 |
| 299,900 |
| - |
| (100,000) |
| - |
| 200,000 |
Imbedded interest costs for issue |
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of convertible debt |
| - |
| - |
| 97,026 |
| - |
| - |
| - |
| 97,026 |
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Net Income (Loss) |
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| (993,134) |
| (993,134) |
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Balance, June 30, 2007 |
| 18,422,834 |
| 1,843 |
| 1,161,683 |
| - |
| - |
| (1,423,726) |
| (260,200) |
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Common Shares issued for Service |
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on 16-Aug-2007 at $0.25 |
| 100,000 |
| 10 |
| 24,990 |
| - |
| - |
| - |
| 25,000 |
Common Shares issued for Service |
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on 24-Sep-07 at $0.25 |
| 200,000 |
| 20 |
| 49,980 |
| - |
| - |
| - |
| 50,000 |
Common Shares issued for Service |
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on 12-Dec-2007 at $0.08 |
| 100,000 |
| 10 |
| 7,990 |
| - |
| - |
| - |
| 8,000 |
Common Shares issued for Debt |
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conversion on 19-Feb-2008 at $0.06 |
| 80,000 |
| 8 |
| 4,792 |
| - |
| - |
| - |
| 4,800 |
Common Shares issued for Debt |
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Conversion on 12-Mar-08 at $0.05 |
| 50,000 |
| 5 |
| 2,495 |
| - |
| - |
| - |
| 2,500 |
Common Shares issued for acquisition |
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of pub. rights on 18-Mar-2008 at $0.06 |
| 500,000 |
| 50 |
| 29,950 |
| - |
| - |
| - |
| 30,000 |
Common Shares issued for Service |
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on 31-Mar-08 at $0.06 |
| 150,000 |
| 15 |
| 8,985 |
| - |
| - |
| - |
| 9,000 |
Common Shares issued for Service |
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on 31-Mar-08 at $0.05 |
| 250,000 |
| 25 |
| 12,475 |
| - |
| - |
| - |
| 12,500 |
Common Shares issued for Service |
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on 31-Mar-08 at $0.06 |
| 250,000 |
| 25 |
| 14,975 |
| - |
| - |
| - |
| 15,000 |
Common Shares issued for Service |
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on 17-Apr-08 at $0.11 |
| 500,000 |
| 50 |
| 54,950 |
| - |
| - |
| - |
| 55,000 |
Common Shares issued for Service |
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on 21-Apr-08 at $ 0.12 |
| 577,828 |
| 58 |
| 69,282 |
| - |
| - |
| - |
| 69,339 |
Common Shares issued for Cash |
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on 2-May-08 at $0.16 |
| 416,667 |
| 42 |
| 66,625 |
| - |
| - |
| - |
| 66,667 |
Common Shares issued for Debt |
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Conversion on 3-Jun-08 at $0.16 |
| 50,000 |
| 5 |
| 7,995 |
| - |
| - |
| - |
| 8,000 |
Common Shares issued for Service |
|
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on 10-Jun-08 at $0.13 |
| 450,000 |
| 45 |
| 58,455 |
| - |
| - |
| - |
| 58,500 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 17-Jun-08 at $0.10 |
| 25,000 |
| 3 |
| 2,498 |
| - |
| - |
| - |
| 2,500 |
Common Shares issued for Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conversion on 23-Jun-08 at $0.13 |
| 100,000 |
| 10 |
| 12,990 |
| - |
| - |
| - |
| 13,000 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 26-Jun-08 at $0.13 |
| 200,000 |
| 20 |
| 25,980 |
| - |
| - |
| - |
| 26,000 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on27-Jun-08 at $0.085 |
| 833,350 |
| 83 |
| 70,751 |
| - |
| - |
| - |
| 70,835 |
Common Shares issued for Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conversion on 27-Jun-08 at $0.085 |
| 200,000 |
| 20 |
| 16,980 |
| - |
| - |
| - |
| 17,000 |
Common Shares issued for Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conversion on 30-Jun-08 at $0.11 |
| 2,000,000 |
| 200 |
| 219,800 |
| - |
| - |
| - |
| 220,000 |
Embedded interest costs for issue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Convertible Debt |
| - |
| - |
| 88,838 |
| - |
| - |
| - |
| 88,838 |
Amortization of Prepaid Expense - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Related |
| - |
| - |
| 4,658 |
| - |
| - |
| - |
| 4,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
|
|
|
|
|
|
|
|
|
| (1,035,995) |
| (1,035,995) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30, 2008 |
| 25,455,679 |
| 2,546 |
| 2,018,117 |
| - |
| - |
| (2,459,721) |
| (439,058) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 26-Aug- 2008 at $0.10 |
| 50,000 |
| 5 |
| 4,995 |
| - |
| - |
| - |
| 5,000 |
Common Shares issued for Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 2-Sep-2008 at $0.05 |
| 1,000,000 |
| 100 |
| 49,900 |
| - |
| - |
| - |
| 50,000 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 1-Oct-2008 at $0.06 |
| 300,000 |
| 30 |
| 17,970 |
| - |
| - |
| - |
| 18,000 |
Common Shares held in reserve as |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
security on loan at 11/16/08 |
| 600,000 |
| 60 |
| 23,940 |
| - |
| - |
| - |
| 24,000 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 9-Feb-2009 at $0.04 |
| 6,050,000 |
| 605 |
| 241,395 |
| - |
| - |
| - |
| 242,000 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 9-Feb-2009 at $0.04 |
| 1,250,000 |
| 125 |
| 49,875 |
| - |
| - |
| - |
| 50,000 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 9-Feb-2009 at $0.04 |
| 1,500,000 |
| 150 |
| 59,850 |
| - |
| - |
| - |
| 60,000 |
Common Shares issued for interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 13-Feb-2009 at $0.03 |
| 208,885 |
| 21 |
| 6,246 |
| - |
| - |
| - |
| 6,267 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt on 19-Feb-2009 at $0.03 |
| 6,000,000 |
| 600 |
| 179,400 |
| - |
| - |
| - |
| 180,000 |
Common Shares issued for interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 1-Mar-2009 $0.03 |
| 207,976 |
| 21 |
| 6,218 |
| - |
| - |
| - |
| 6,239 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 1-Mar-2009 at $0.03 |
| 200,000 |
| 20 |
| 5,980 |
| - |
| - |
| - |
| 6,000 |
Common Shares issued for interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 3-Mar-2009 at $0.02 |
| 250,000 |
| 25 |
| 4,975 |
| - |
| - |
| - |
| 5,000 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 24-Mar-2009 $0.01 |
| 5,250,000 |
| 525 |
| 51,975 |
| - |
| - |
| - |
| 52,500 |
Common Shares issued for Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 30-Mar-2008 at $0.01 |
| 300,000 |
| 30 |
| 2,970 |
| - |
| - |
| - |
| 3,000 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 6-Apr-2009 at $0.01 |
| 150,000 |
| 15 |
| 1,485 |
| - |
| - |
| - |
| 1,500 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 1-May-2009 at $0.008 |
| 1,242,500 |
| 124 |
| 9,816 |
| - |
| - |
| - |
| 9,940 |
Common Shares issued for interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 26-May 2009 at $0.0175 |
| 1,000,000 |
| 100 |
| 17,400 |
| - |
| - |
| - |
| 17,500 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 1-Jun-2009 at $0.0128 |
| 250,000 |
| 25 |
| 3,175 |
| - |
| - |
| - |
| 3,200 |
Common Shares issued for Service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 30-June-2009 at $0.005 |
| 5,000,000 |
| 500 |
| 24,500 |
| - |
| - |
| - |
| 25,000 |
Amortization of Prepaid Expense - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Related |
| - |
| - |
| (7,999) |
| - |
| - |
| - |
| (7,999) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
|
|
|
|
|
|
|
|
|
| (661,409) |
| (661,409) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30, 2009 |
| 56,265,040 |
| 5,627 |
| 2,772,183 |
| - |
| - |
| (3,121,130) |
| (343,321) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Shares issued for services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 5-Aug-2009 at $0.0055 |
| 200,000 |
| 20 |
| 1,080 |
| - |
| - |
| - |
| 1,100 |
Common Shares issued for services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 27-Aug-2009 at $0.0032 |
| 55,000,000 |
| 5,500 |
| 170,500 |
| - |
| - |
| - |
| 176,000 |
Common Shares issued to settle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt on 29-Aug-2009 at $0.0025 |
| 1,320,809 |
| 132 |
| 3,170 |
| - |
| - |
| - |
| 3,302 |
Common Shares issued for services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
on 4-Jan-2010 at $0.0115 |
| 500,000 |
| 50 |
| 5,700 |
| - |
| - |
| - |
| 5,750 |
Adjustment for variance in stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issued versus Actual |
| - |
| 17 |
| (29,960) |
| - |
| - |
| - |
| (29,944) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
|
|
|
|
|
|
|
|
|
| (193,486) |
| (193,486) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30, 2010 |
| 113,285,849 |
| 11,346 |
| 2,922,672 |
| - |
| - |
| (3,314,616) |
| (380,599) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
|
|
|
|
|
|
|
|
|
| (155) |
| (155) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30, 2011 |
| 113,285,849 |
| 11,346 |
| 2,922,672 |
| - |
| - |
| (3,314,771) |
| (380,754) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these statements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| June 30, |
For the Fiscal Years Ended | June 30, |
| June 30, |
| June 30, |
| 2008 |
Operating activities | 2011 |
| 2010 |
| 2009 |
| (To be Restated) |
Net (Loss) | $ (155) |
| $ (193,486) |
| $ (661,409) |
| $ (1,035,995) |
Adjustments to reconcile Net (Loss) to cash: |
|
|
|
|
|
|
|
Common Stock issued for Services |
|
| 152,905 |
| 430,006 |
| 436,332 |
Common Stock issued for Debt Conversion |
|
| 3,302 |
| 282,140 |
| 354,138 |
Embedded Interest Expense for Debt |
|
|
|
|
|
|
|
Impairment Expense | - |
| - |
| - |
| (25,017) |
Amortization of Prepaid Expense-Stock Related |
|
|
|
| (7,999) |
| 4,658 |
Non-cash Interest Expense |
|
| 13,660 |
| 29,481 |
| 87,286 |
Changes in Assets and Liabilities |
|
|
|
|
|
|
|
(Increase)/decrease in Accounts Receivable | 6,100 |
| (6,100) |
| - |
| - |
(Increase)/decrease in Escrow Fees Receivable | - |
| - |
| - |
| 2,000 |
(Increase)/decrease in Prepaid Expenses | - |
| 35,177 |
| (24,058) |
| (11,118) |
Increase/(decrease) in Accounts Payable | (7,879) |
| (1,248) |
| (458) |
| (22,852) |
Increase/(decrease) in Accrued Tax Liability | 753 |
| 1,353 |
| - |
| - |
Net cash (used) by operating activities | (1,180) |
| 5,562 |
| 47,703 |
| (210,569) |
|
|
|
|
|
|
|
|
Investment activities |
|
|
|
|
|
|
|
Purchase of Intangible Assets | - |
| - |
| - |
| 25,017 |
Purchase of Equipment | - |
| - |
| - |
| - |
Net cash (used) by investment activities | - |
| - |
| - |
| 25,017 |
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
|
Proceeds from Notes Payable | 900 |
| (3,680) |
| (112,573) |
| 71,587 |
Proceeds from Short Term Notes |
|
|
|
|
|
|
|
Proceeds from Convertible Debentures | - |
| (2,641) |
| (7,443) |
| 55,962 |
Proceeds from Subscriptions Receivable |
|
|
|
|
|
|
|
Contributed Capital | - |
| 5,719 |
| 3,092 |
| 703 |
Proceeds from sale of Common Stock | - |
| (5,718) |
| 49,907 |
| 61,304 |
Net cash provided by financing activities | 900 |
| (6,320) |
| (67,017) |
| 189,556 |
|
|
|
|
|
|
|
|
Net (decrease) in cash | (280) |
| (757) |
| (19,314) |
| 4,005 |
Cash and equivalents - beginning | 280 |
| 1,037 |
| 20,352 |
| 16,347 |
Cash and equivalents - ending | $ (0) |
| $ 280 |
| $ 1,037 |
| $ 20,352 |
|
|
|
|
|
|
|
|
Cash Paid For: |
|
|
|
|
|
|
|
Interest | 438 |
| 2,894 |
| 2,894 |
| 32,369 |
Income Taxes | - |
| - |
| - |
| - |
|
|
|
|
|
|
|
|
Non-cash Activities: |
|
|
|
|
|
|
|
Common Stock issued for Assets | - |
| - |
| - |
| - |
Common Stock issued for Services | - |
| 152,905 |
| 430,006 |
| 436,332 |
Common Stock issued for Debt Conversion | - |
| 3,302 |
| 282,140 |
| 354,138 |
Common Stock issued for Prepaid Expense | - |
| - |
| - |
| - |
Embedded Interest Expense | - |
| - |
| - |
| - |
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these statements |
|
|
|
|
|
|
|
NOTES TO THE FINANCIAL STATEMENTS:
1.)
SUBSEQUENT EVENTS: The Company has evaluated subsequent events from the balance sheet dates. Subsequent to the financial statements, the company has settled or is in the process of settling substantially all outstanding notes and liabilities.