FINANCIALS ARE OUT !!!!!
Has anyone here BOTHERED to read the financials that were just released?
Before I get into the billions of shares diluted at .00001 (that's right, that's FOUR zeros and a 1), lets look at the balance sheet for a moment:
Current cash consists of $807
That's correct, you read it right. Bob Atwell has $807 in the bank.
Notes Payable: $1,143,613
Shareholder advances of $1,186,353
Total Current Liabilities: $3,822,133
Accrued payroll: $1,000,000 (for what?????)
TOTAL LIABILITIES: $4,822,133
Accumulated Deficit of $7,876,176
Look at the price per share the convertible debenture holders RECEIVED their shares at?
ROFLMAO !!
I told you all this was the reason.
Where are we trading? .0009 x .001 ?
Guess who received BILLIONS of shares at a 90% discount to the rest of you?
Scroll down:
The
Corporate
Solution
9/6/13
Preferred
A
10,000,000
10,000,000
$.0001
$.0001
4.2
Restricted
Control
Affiliate
4.2
Debt
Reduction
1/1/2009
The
Corporate
Solution
9/6/13
Preferred
B
20,000,000
20,000,000
$.0001
$.0001
4.2
Restricted
Control
Affiliate
4.2
Debt
Reduction
1/1/2009
The
Corporate
Solution
9/6/13
Common
1,200,000,000
1,200,000,000
$.0001
$.0001
4.2
Restricted
Control
Affiliate
4.2
Debt
Reduction
1/1/2009
Playground
Partners*
9/9/13
Common
30,000,000
30,000,000
$.0001
$.0001
4.2
Restricted
Shares
Cancelled
4.2
Cash
5/14/12
The
Corporate
Solution
9/18/13
Common
9,000,000,000
9,000,000,000
$.00001 <--- four zeros and a 1 LOL !!!!
$.00001
4.2
Restricted
Control
Affiliate
4.2
Debt
Reduction
1/1/2009
Playground
Partners**
9/27/13
Common
30,000,000
30,000,000
$.0001
$.0001
4.2
Restricted
Shares
Available
for
Resale
144
Cash
5/14/12
Consulting
A to Z
Corp
10/14/13
Common
59,850,000
59,850,000
$.00001
$.00001 <--- four zeros and a 1 LOL !!!!
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
LDR
Capital
Investments
LLC
10/14/13
Common
10,000,000
10,000,000
$.00001
$.00001
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
LDR
Capital
Investments
LLC
10/14/13
Common
10,000,000
10,000,000
$.00001
$.00001 <--- four zeros and a 1 LOL !!!!
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
LDR
Capital
Investments
LLC
10/14/13
Common
10,000,000
10,000,000
$.00001
$.00001 <--- four zeros and a 1 LOL !!!!
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
LDR
Capital
Investments
LLC
10/14/13
Common
10,000,000
10,000,000
$.00001
$.00001 <--- four zeros and a 1 LOL !!!!
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
LDR
Capital
Investments
LLC
10/14/13
Common
10,000,000
10,000,000
$.00001
$.00001 <--- four zeros and a 1 LOL !!!!
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
LDR
Capital
Investments
LLC
10/14/13
Common
9,850,000
9,850,000
$.00001
[color=red]$.00001 <----- four zero's and a 1 LOL !!!
4.2
Restricted
Shares
Available
for
Resale
144
Settlement
5/17/10
Playground
Partners
10/28/13
Common
30,000,000
30,000,000
$.00001
$.00001 <----- four zero's and a 1 LOL !!!
4.2
Restricted
Shares
Available
for
Resale
144
Cash
9/5/12
Amenas
Trade Corp
11/14/13
Common
725,000,000
725,000,000
$.00003
$.00003 <----- four zero's and a 3 LOL !!!
4.2
Restricted
Shares
Available
for
Resale
144
Cash
7/12/11
Playground
Partners
11/14/13
Common
40,000,000
40,000,000
$.00001
$.00001 <----- four zero's and a 1 LOL !!!
4.2
Restricted
Shares
Available
for
Resale
144
Cash
9/5/12
Left Coast
Pictures
Inc.
11/27/13
Common
100,000,000
100,000,000
$.00001263
$.00001263 <--- WTF ?? haha
4.2
Restricted
Shares
Available
for
Resale
144
Cash
on September 3, 2013, the
Company’s Board of Directors and Stockholders authorized an increase in the authorized shares to 40,000,000,000 total shares
authorized, including 39,900,000,000 common shares at a par value of $.00001, and 100,000,000 shares of preferred stock at their
then par value of $.0001. In addition, the Company authorized three additional classes of preferred stock, creating Class C, Class
D and Class E preferred.
GOING CONCERN
The accompanying financial statements have been prepared assuming that Emaji will continue as a going concern.
During the year ended December 31, 2013, Camelot had limited revenue producing operations; positive working
capital of $44,555 and an accumulated deficit from Inception of $7,876,176.[/b] These conditions raise substantial doubt
about Emaji’s ability to continue as a going concern.
The financial statements do not include any adjustments to
reflect the possible future effects on the classification of liabilities that may result from the outcome of this
uncertainty.
Management’s plans with respect to the current situation consist of increasing the revenues being generated by
Emaji subsequent to year end, successfully complete implementation of its business model and the resultant
revenues that come as operations continue to develop, restructuring its debt, seeking additional financial resources
from its existing investors, note holders, debt holders, officers, directors (past and present) and it’s CEO Robert
Atwell. There are no assurance that the Company’s efforts will be successful and/or at acceptable terms. During the
year ended December 31, 2013, the Company received additional funding from Robert Atwell and affiliates to fund
operations. See Note 3 for additional information regarding the secured convertible notes payable.
During the year ended December 31, 2013, the Company entered into three Stock Purchase Agreements (“SPA”) to
provide the Company with up to $6,000,000 in funding. The majority of the stock is to be purchased at a twenty per
cent (20%) discount to the market, unless otherwise amended by the parties, pursuant to an effective registration
statement that the Company expects to file with the Securities and Exchange Commission (“SEC”). In accordance
with the terms and conditions of the SPA, the funding is expected to take place no later than December 31, 2014. As
of December 31, 2013, the Company had not received any material proceeds as a result of these agreements. In the
event this funding is completed, the Company would be in a position to have a determination made that it would no
longer be a development stage company and further, that it would no longer warrant a going concern statement in
the financial footnotes. In the event the funding is not completed, the Company would remain a development stage
company and the going concern statement would remain. The Company plans to file the above mentioned SPA’s
under the additional information section on OTC Markets following the submission of this annual report.
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AI
