No DEBT????? Not according to their latest quarterly report!check out the shareholder deficits!
Statements
CANWEALTH MINERALS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30,
2015 December 31, 2015
ASSETS
Current assets:
Cash and cash equivalent $ 2,138 $ —
Total current assets 2,138 —
Property and equipment 34,207 39,494
Other assets:
Intangible assets 19,249 22,224
Total other assets 19,249 22,224
Total assets $ 55,594 $ 61,718
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Bank indebtedness $ — $ 325
Accounts payable and accrued liabilities 407,816 397,281
Convertible note payable 122,498 64,977
Loans from non-related parties 50,152 59,046
Loans from related parties 44,399 60,074
Total current liabilities 624,865 581,703
Commitments and contingencies — —
Stockholders' deficit:
Preferred stock; $0.0001 par value, 20,000,000 shares authorized, none issued and outstanding as of September 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 September 30, 2015 and December 31, 2014 5,077 5,077
Additional paid in capital 7,833 8,170
Other comprehensive income (loss) 84,379 38,050
Deficit accumulated (666,560 ) (571,282 )
Total stockholders' deficit (569,271 ) (519,985 )
Total liabilities and stockholders' deficit $ 55,594 $ 61,718
They own NO LAND,only mining claims which cost them thousands and have little value until they are developed which takes millions which they don't have and can't get.THIS SCAM IS DEAD MONEY,RARELY TRADES, RUN BY A CEO WHO IN 10 YEARS HAS NEVER PRODUCED ANY REVENUES.
