El Maniel International Inc (EMLL)

[Diversified]

Just my quick breakdown..........
For the ones who hate reading financial reports....
I didn't spend a lot of time on this, but is it me or did anyone notice the oil terminal 1,000,000 shares were not even issued from this September 30th report. To me that means they still have quite some time for this debt. Otherwise please correct me if I am wrong. TIA

El Maniel International year end finances
September 30,2010 (unaudited)
Company formed on July 24th 2007
Purchased Idle Oil Terminal from JFK Petrolium Inc. May 26, 2010 for $50,000 plus 1,000,000 Restricted shares for $1.00 per share or $1,000,000 dollars. This was (not issued to date) of Financial report and once issued at JFK’s option, will be 1 year after issue date.
1. Mineral Properties
A. Plot A =Acquistion agreement dated July 1st 2010 for $1,000,000. They will have a 95% interest in the property.
B. Plot B =Acquisition agreement dated July 1st 2010 for $1,000,000. They will have a 95% interest in the property.
2. August 6th the company issued 2 billion shares 2,000,000,000 of restricted common stock to it’s Chief Executive Officer for Plot A and B for the payment totaling $2,000,000 that were due on July 30th 2010.
3. Notes Payable=On June 30,2010 we entered into a noninterest bearing loan payable upon demand for $53,500.
4. Legal fees=0
5. Common Stock=5,000,000,000 shares as of September 30, 2010. Issued and Outstanding 2,892,110,000 as of same date.
Assets
$2,071,754
Net Income Loss
$158,214
Cash
$325.00
Notes: 1.$53,000 Was contributions by shareholders as part of cash flow
2.$152,437 Was a line of credit from CO-Max International Limited
3.Part of the Assets that I see shows The Stamp Collection being worth $21,429.