MediaTechnics Corp (MEDT)

[help me]

As of JUNE MEDT has basically no cash just a receivable looks like judgement.

Also in accounting you add all liabilities and assets together such as they did here. This doesn't mean it's all equity it's a combination unless all these years my businesses and accountant did my taxes wrong.

Total liabilities and stockholders' equity
$1,216,158


Harold Engel

June 30, 2014
&
June 30, 2013
Financial Statements & Notes
Page
1
of
14
MediaTechnics Corporation
Consolidated Balance Sheet
Unaudited
At June 30, 2014
ASSETS
CURRENT ASSETS:
Cash
$
6,359
Accounts receivable
1,500
Inventory
1,250
Marketable securities held for sale
196,000
Unrealized gain on marketable securities
24,000
Total current assets
229,109
OTHER ASSETS:
Note receivable
438,810
Accrued interest on note receivable
197,614
Furniture & equipment
-
net
11,667
Accumulated depreciation
Intellectual property
-
net
338,958
Lease purchase option
Total assets
$
1,216,158
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable
$100,570
Total current liabilities
100,570
Contingencies
150,000
Convertible debenture
118,000
Total liabilities
368,570
STOCKHOLDERS' EQUITY
Preferred stock
1,460
Common stock
1,094,704
Paid in capital
2,273,152
Unrealized gain on marketable securities
24,000
Accumulated (deficit)
(2,545,728)
Total stockholders' equity
847,588
Total liabilities and stockholders' equity
$
1,216,158