CPPD Financial Statements
(Unaudited)
March 31, 2010
1
TABLE OF CONTENTS
ITEM PAGE
Balance Sheet F-1
Statement of Operations F-2
Statement of Cash Flows F-3
Statement of Stockholders’ Equity F-4
Management’s Discussion and Analysis of Financial Condition
and Results of Operations 2
CIRCA PICTURES & PROD. CO. INTL. INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
As of March 31, 2010
Assets
Current Assets:
Cash & cash equivalents
1,050$
Total assets
1,050$
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued liabilities
289,270$
Loans Payable
119,682$
Total current liabilities:
408,952
Stockholders' equity:
Common Stock, - $.001 par value; 150,000,000 authorized;
125,915,234 issued and outstanding.
125,916
Preferred Stock, - $.001 par value; 25,000,000 authorized;
0 issued and outstanding.
-
Additional paid-in capital
11,647,077
Retained earnings
(12,180,894)
Total Stockholders' Equity
(407,902)
Total liabilities and stockholders' equity
1,050$
The accompanying notes are an integral part of these statements.
F-1
CIRCA PICTURES & PROD. CO. INTL. INC.
STATEMENT OF OPERATIONS
(A DEVELOPMENT STAGE COMPANY)
For the period ended March 31, 2010
Net revenues
-$
Operating costs and expenses:
Consulting
7,500
Travel and entertainment
5,500
Payroll
-
Promotion
3,875
Rent
1,200
Legal
-
Accounting
-
Other
4,500
Total operating costs and expenses
22,575
Other Expenses:
Consultant stock compensation expense
30,646
Total non-operating expenses
30,646
Net Loss
(53,221)
The accompanying notes are an integral part of these statements.
F-2
CIRCA PICTURES & PROD. CO. INTL. INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CASH FLOWS
As of March 31, 2010
Cash flows from operating activities:
Net Loss
(53,221)$
Adjustments to reconcile net income to net cash used by operating activities:
Changes in operating assets and liabilities:
Stock compensation expense
30,646
Accounts payable and accrued liabilities
7,500
Net cash used by operating activities
(15,075)
Cash flows from financing activities:
Stock Issued to Investors
15,075
Loan payable
0
Net cash provided by financing activities
15,075
Net change in cash and cash equivalents
-
Cash and cash equivalents, beginning of year
1,050
Cash and cash equivalents, end of year
1,050$
The accompanying notes are an integral part of these statements.
F-3
CIRCA PICTURES & PROD. CO. INTL. INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY
As of March 31, 2010
Additional
Shares of Common
Common
Paid-In
Accumulated
Stock Outstanding
Stock
Capital
Deficit
Balance, December 31,2004
-
-$
-$
-$
Common stock issued for cash
105,500
106
105,395
(125,993)
Balance, December 31,2005
105,500
106
105,395
(125,993)
Common stock issued for cash
224,000
224
163,776
(317,345)
Balance, December 31,2006
329,500
330
269,171
(443,338)
New shares issued to existing shareholders
14,551,747
14,552
Shares issued to Officers/Directors
23,000,000
23,000
7,337,000
Shares issued to Consultants
8,800,000
8,800
2,807,200
Shares Issued to Investors
417,856
418
284,582
Net loss
(10,484,838)
Balance, December 31,2007
47,099,103
47,099
10,697,953
(10,928,176)
Shares issued to Officers/Directors
15,062,408
15,062
112,968
Shares Issued to Investors
3,776,804
3,777
194,818
Net loss
(501,491)
Balance, December 31,2008
65,938,315
65,938
11,005,739
(11,429,667)
Shares issued to Officers/Directors
8,450,875
8,451
76,058
Shares issued to Consultants
19,750,000
19,750
177,750
Shares Issued to Investors
27,957,711
27,958
345,628
Net loss
(698,008)
Balance, December 30,2009
122,096,901
122,097
11,605,175
(12,127,674)
Shares Issued to Investors
753,750
754
14,321
Shares issued to Consultants
3,064,583
3,065
27,581
Net loss
(53,221)
Balance, March 31,2010
125,915,234
125,916
11,647,077
(12,180,894)
The accompanying notes are an integral part of these statements.
125,915,234
F-4
2
CIRCA PICTURES & PROD. CO. INTL. INC.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
As of March 31, 2010
Accrued Liabilities
Outstanding liabilities were primarily for legal, financial advisory and broker fees related to merger.
Stockholders’ Equity
The 23 million shares issued out of treasury to senior management and board members and the 8.8 million shares issued to Consultants in 2007 were restricted under Section 144. These shares became free trading in late 2008.
The 15.1 million shares issued out of treasury to senior management and board members in 2008 are restricted under Section 144. These shares became free trading in 2009.
The 28.0 million shares issued out of treasury to investors in 2009 are restricted under Section 144.
The 19.8 million shares issued in 2009 out of treasury to Consultants are restricted under Section 144.
The 8.5 million shares issued in 2009 out of treasury to Senior management in board members are restricted under Section 144.
Period Ended March 31, 2010
Results of Operations
Costs incurred were primarily for the following activities:
(1) Develop corporate strategy;
(2) Fund TV projects;
(3) Promote Company; and
(4) Market Imlight Film Transference Technology.
Consulting Expense Consulting expense is primarily related to TV production, marketing Imlight Film Transference Technology and corporate strategy. Accounting for stock-based compensation expense Stock-based compensation expense was calculated based on FMV of stock issued when the shares were earned and or awarded.
Additional Disclosures
The financial statements for the periods December 31, 2008, March 31, 2009, June 30, 2009, September 30, 2009, December 2009 and March 31, 2010 included some estimates. The Company will provide updated information when it is available. However, the revisions, if any, will not materially impact results of operations or current financial condition of the Company.
