Don't forget about the 37.4 Million preferred shares issued and outstanding two lines below what you quoted!
Also, since the balance sheet shows ZERO for "Plant, Property and Equipment", where are the office expenses? It does show $100 for rent. I guess they work out of a PO box since they have no utilities expense, phone, internet or power.
Oh yeah, and "Payroll Expense" is listed at zero.
Nice of Pete to work tirelessly for shareholders with absolutely no salary!
What a joke.