AVGG.. $0.03..I have been following this one for years and if I was to make a bet 2014 will create a merger.. Nice balance sheet,, reduced shares ECT.. Hold your nose and buy.. hank
Advanced Technologies Group, Ltd.
Consolidated Balance Sheets
As of October 31, 2013 and January 31, 2013
31-Oct-13 31-Jan-13
------------ ------------
ASSETS
Current assets:
Cash $ 1,615,396 $ 1,342,513
------------ ------------
Total current assets 1,615,396 1,342,513
Other assets:
Investment in FX Direct Dealer 0 5,000
Trademark- net 4,388 4,841
Fixed assets- net 240 675
------------ ------------
Total assets $ 1,620,024 $ 1,353,029
============ ============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable & accrued expenses $ 299,184 $ 250,184
------------ ------------
Total current liabilities 299,184 250,184
Shareholder advance payable 7,796 7,796
------------ ------------
Total liabilities 306,980 257,980
Shareholders' equity:
Series A preferred stock, one share convertible to one share of common;
non-participating, authorized 1,000,000 shares at stated value of $3 per
share, issued and outstanding 50,165 shares at January 31, 2013 and
50,165 at October 31, 2013 111,120 111,120
Series B preferred stock, one share convertible to one share of common;
non-participating, authorized 7,000,000 shares at stated value of $3 per
share, issued and outstanding 135,496 shares at January 31, 2013 and
135,496 at October 31, 2013 374,865 374,865
Common stock - $.0001 par value, authorized 100,000,000 shares,
issued and outstanding, 14,415,729 shares at January 31, 2013 and
14,415,729 at October 31, 2013 1,442 1,442
Additional paid in capital 38,435,638 38,435,638
Accumulated deficit (37,610,021) (37,828,016)
------------ ------------
Total shareholders' equity 1,313,044 1,095,049
------------ ------------
Total Liabilities & Shareholders' Equity $ 1,620,024 $ 1,353,029
============ ============
See the notes to the financial statements.
4
Advanced Technologies Group, Ltd.
Consolidated Statements of Operations
For the Nine Months and Three Months Ended October 31, 2013 and October 31, 2012
9 Months 9 Months 3 Months 3 Months
31-Oct-13 31-Oct-12 31-Oct-13 31-Oct-12
------------ ------------ ------------ ------------
General and administrative expenses:
Salaries and benefits $ 140,000 $ 162,000 $ 56,000 $ 54,001
Consulting 0 11,325 0 11,325
General administration 78,695 126,595 43,417 46,160
------------ ------------ ------------ ------------
Total general & administrative expenses 218,695 299,920 99,417 111,486
------------ ------------ ------------ ------------
Net loss from operations (218,695) (299,920) (99,417) (111,486)
Other revenues and expenses:
S.E.C. rebate from prior settlement 436,685 0 436,685 0
Interest income 5 18 (3) 3
------------ ------------ ------------ ------------
Net income (loss) before provision for income taxes 217,995 (299,902) 337,265 (111,483)
Provision for income taxes 0 0 0 0
------------ ------------ ------------ ------------
Net income (loss) $ 217,995 $ (299,902) $ 337,265 $ (111,483)
============ ============ ============ ============
Basic & fully diluted net income (loss) per
common share:
Net income (loss) per share $ 0.02 $ 0.00 $ 0.02 $ (0.01)
Weighted average of common shares outstanding:
Basic 14,415,729 18,948,966 14,415,729 18,948,966
Fully diluted 14,415,729 18,948,966 14,415,729 18,948,966
See the notes to the financial statements.
5
Advanced Technologies Group, Ltd.
Consolidated Statements of Cash Flows
For the Nine Months Ended October 31, 2013 and October 31, 2012
31-Oct-13 31-Oct-12
------------ ------------
Operating Activities:
Net income (loss) $ 217,995 $ (299,902)
Adjustments to reconcile net income (loss) items
not requiring the use of cash:
Amortization 453 455
Depreciation 435 436
Changes in other operating assets and liabilities :
Accounts payable & accrued expenses 49,000 (394,617)
------------ ------------
Net cash provided by (used by) operations 267,883 (693,628)
Investing activities:
Investment in FX Direct Dealer 5,000 5,000
Proceeds from note receivable 0 956,218
------------ ------------
Net cash provided by investing activities 5,000 961,218
Financing Activities:
Advances received (paid) shareholders 0 0
------------ ------------
Net cash used by financing activities 0 0
------------ ------------
Net increase (decrease) in cash during the year 272,883 267,590
Cash balance at beginning of the year 1,342,513 1,185,519
------------ ------------
Cash balance at October 31st $ 1,615,396 $ 1,453,109
============ ============
Supplemental disclosures of cash flow information:
Interest paid during the period $ 0 $ 0
Income taxes paid during the period $ 0 $ 0
See the notes to the financial statements.
6
Advanced Technologies Group, Ltd.
Consolidated Statement of Changes in Shareholders' Equity
From January 31, 2012 to October 31, 2013
Common Common Preferred Preferred Paid in Accumulated
Shares Par Value Shares Value Capital Deficit Total
------ --------- ------ ----- ------- ------- -----
Balance at January 31, 2012 18,948,966 $ 1,895 2,372,036 $ 6,097,355 $32,823,815 $(37,374,794) $1,548,271
Shares retired (4,533,237) (453) (2,186,375) (5,611,370) 5,611,823 0
Net loss (453,222) (453,222)
---------- ------- ---------- ----------- ----------- ------------ ----------
Balance at January 31, 2013 14,415,729 $ 1,442 185,661 $ 485,985 $38,435,638 $(37,828,016) $1,095,049
Net loss 217,995 217,995
---------- ------- ---------- ----------- ----------- ------------ ----------
Balance at October 31, 2013 14,415,729 $ 1,442 185,661 $ 485,985 $38,435,638 $(37,610,021) $1,313,044
========== ======= ========== =========== =========== ============ ==========
See the notes to the financial statements.
7
