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EXCEL - IDEA: XBRL DOCUMENT - Novation Holdings IncFinancial_Report.xls
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EX-32 - CERTIFICATION - Novation Holdings Incexhibit32.htm
EX-31 - PRINCIPAL ACCOUNTING OFFICER CERTIFICATION - Novation Holdings Incexhibit312.htm
EX-31 - CEO CERTIFICATAION - Novation Holdings Incexhibit311.htm
10-K - FORM 10-K - Novation Holdings Incf10k8312012.htm
v2.4.0.6
STATEMENT OF CASH FLOWS (USD $)
12 Months Ended 167 Months Ended
Aug. 31, 2012
Aug. 31, 2011
Aug. 31, 2012
Net Income (loss) $ (6,427,618) $ (2,475,744) $ (9,266,443)
Depreciation 221 0 221
Capital contributions-noncash expenses 0 0 151,200
Stock based compensation expense 4,385,002 2,080,154 6,465,156
Debt cancellation (484,241) 0 (484,241)
Amortization 14,889 800 15,689
Amortization of debt discount 1,484,607 150,905 1,635,512
Accrued interest payable 44,771 9,964 54,735
Increase in prepaid expenses 0 (1,000) (1,000)
Loans receivable 209,653 (257,653) (48,000)
Accounts payable and accrued expenses 11,545 (124,223) 18,590
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (761,171) (616,797) (1,458,581)
Purchase of property and equipment (2,120) 0 (2,120)
NET CASH PROVIDED BY INVESTING ACTIVITIES (2,120) 0 (2,120)
Additional capital contributed 0 156,432 156,432
Issuance of Common Stock 0 0 55,450
Proceeds from notes payable 780,064 512,500 1,292,564
Related party advances (37,500) (31,178) (42,500)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 742,564 637,754 1,461,946
Increase (Decrease) in cash and cash equivalents (20,727) 20,957 1,245
Cash and Cash Equivalents, at Carrying Value, Beginning Balance 21,972 1,015 0
Cash and Cash Equivalents, at Carrying Value, Ending Balance 1,245 21,972 1,245
Interest 0 0 4,500
Income taxes, net 0 0 0
Conversion of notes payable to stock $ 1,730,488 $ 458,495 $ 2,188,983