ICBS Limited (ICBT)

[brightguy]

With this horrendous balance sheet,how can they not succeed??ROFLMAO,!

CANWEALTH MINERALS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

June 30,
2015 December 31, 2014
ASSETS
Current assets:
Cash and cash equivalent $ 1,335 $ —

Total current assets 1,335 —

Property and equipment 36,681 39,494
Other assets:
Intangible assets 20,641 22,224
Total other assets 20,641 22,224

Total assets $ 58,657 $ 61,718

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Bank indebtedness $ — $ 325
Accounts payable and accrued liabilities 417,862 397,281
Convertible note payable 116,332 64,977
Loans from non-related parties 53,779 59,046
Loans from related parties 50,814 60,074
Total current liabilities 638,787 581,703

Commitments and contingencies — —

Stockholders' deficit:
Preferred stock; $0.0001 par value, 20,000,000 shares authorized, none issued and outstanding as of June 30, 2015 and December 31, 2014 — —
Common stock; $0.0001 par value, 100,000,000 shares authorized 50,771,631 shares issued and outstanding as of June 30, 2015 and December 31, 2014 5,077 5,077
Additional paid in capital 7,962 8,170
Other comprehensive income (loss) 63,421 38,050
Deficit accumulated (656,590 ) (571,282 )
Total stockholders' deficit (580,130 ) (519,985 )

Total liabilities and stockholders' deficit $ 58,657 $ 61,718