Significantly less debt. Always a good sign!
Six Months ended February 28, Six Months ended February 28,
2015 2014
(unaudited) (unaudited)
OPERATING ACTIVITIES
Net Loss $ (174,796 ) $ (673,368 )
Adjustments to reconcile net loss to cash used by operating activities:
Amortization Expense 0 270
Changes in Operating Assets and Liabilities:
Increase (Decrease) in Accounts Payable (10,430 ) 134
(Increase) Decrease in Due from Affiliate 0 19,955
Increase (Decrease) in Accrued Expenses 71,640 (141,693 )
Net Cash Provided Used in Operating Activities (113,586 ) (783,702 )
FINANCING ACTIVITIES
Expenses incurred resulting from issuance of stock for less than par value 0 420,369
(Increase) Decrease in gain on issuance of stock for more than fair value 0 (6,000)
Increase (Decrease) in loss on issuance of stock for less than fair value 20,000 58,494
Increase (Decrease) in Common stock issued for expenses 0 4,420
Increase (Decrease) in Notes Payable 38,678 240,255
Increase (Decrease) in Additional paid in Capital 61,600 61,600
Net Cash Provided by Financing Activities 120,278 779,138
DISCONTINUED OPERATION
Profit (Loss) from discontinued operations 0 (3,753 )
Net Increase in Cash 6,692 (8,317 )
Cash at beginning of the period 734 9,610
Cash at end of the period $ 7,426 $ 1,293
Supplemental Disclosure of Noncash investing and financing activities:
Stock issued in payment of Debt $ 20,000 $ 167,156
The accompanying notes are an integral part to these financial statements.
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