ASSETS
June 30, December 31,
2014 2013
CURRENT ASSETS
Cash $ 1,722
Accounts receivable 46,255 *
Total Current Assets 47,977
OTHER ASSETS
Property and equipment, net 466
Investments 15,000
Minority interest 930
TOTAL ASSETS $ 64,373
*My note/question...what consists of their accounts receivable? Would not their rights to the patent be a bookable asset?
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Bank overdraft $ -
Related party payables 76,976
Accounts payable and accrued expenses 564,042 5
Accrued interest payable 68,798
Convertible notes payable, related party 187,660
Total Current Liabilities 897,476
TOTAL LIABILITIES 897,476*
*Quarterly loss from their last filing
The Company issued 326,535,956 shares of common stock in return for redeeming Convertible Loan notes to the value of
$58,420 on April 01,14, 18, 22 and 24, May 06, 07, 08, 09, 19, 21, 23 and 28 and June 03, 09, 10, 12, 18, 25 and 26, 2014.
NOTE 9 – SUBSEQUENT EVENTS
In accordance with ASC 855 the Company’s management reviewed all material events through the date of this report. The
Company has continued the financing process and from July 01 to August 07 a further conversion of 103,608,456 Common
Stock has been issued from converting Convertible Loan Notes. On July 1, 2014, the Board of Directors of the Company
approved an increase in the authorized capital stock to 1,600,000,000 shares consisting of 1,500,000,000 shares of common
stock, par value $0.0001, and 100,000,000 shares of preferred stock, par value $0.0001.