Nevada
|
95-4786792
|
|
(State
of incorporation)
|
(I.R.S.
Employer Identification No.)
|
Quarter
Ended
|
High
|
Low
|
||||||
September
30, 2007
|
$ | 0.40 | $ | 0.39 | ||||
December
31, 2007
|
$ | 0.20 | $ | 0.17 | ||||
March
31, 2008
|
$ | 0.28 | $ | 0.28 | ||||
June
30, 2008
|
$ | 0.25 | $ | 0.25 | ||||
September
30, 2008
|
$ | 0.28 | $ | 0.15 | ||||
December
31, 2008
|
$ | 0.23 | $ | 0.05 | ||||
March
31, 2009
|
$ | 0.20 | $ | 0.05 | ||||
June
30, 2009
|
$ | 0.19 | $ | 0.09 |
·
|
Feature
length 3-D and 2-D films for theatrical
release
|
·
|
Direct
to DVD 3-D and 2-D films
|
·
|
Licensing
of Video Game rights
|
|
·
|
Our
Company’s administration is composed of a small number of administrative
individuals resulting in a situation where limitations on segregation of
duties exist. In order to remedy this situation we would need
to hire additional staff to provide greater segregation of
duties. Currently, it is not feasible to hire additional staff
to obtain optimal segregation of duties. Management will
reassess this matter in the following year to determine whether
improvement in segregation of duty is
feasible.
|
·
|
Our
Company currently does not have a CFO, and our CEO does not have the
background in financial reporting to ensure that information required to
be disclosed is recorded, processed, summarized and reported within the
time periods specified in the Commission’s rules and forms and is
accumulated and communicated to management as appropriate to allow timely
decisions regarding required
disclosures.
|
Name of Director
|
Age
|
Current Position
|
Position Held Since
|
|||
Gov.
Carlos Romero Barcelo
|
73
|
Vice
Chairman, Director
|
March,
2008
|
|||
Jack
Honour
|
58
|
Chairman,
(Interim) CEO
|
June,
2001
|
|||
Anthony
Munafo
|
48
|
COO,
Director
|
August,
2008
|
|||
Herky
Williams
|
54
|
Secretary/Treasurer,
Director
|
May,
2000
|
|||
Steven
Curran
|
55
|
Director
|
Sept.
2008
|
Name
and Address of
|
Nature
of
|
|||||
Beneficial
Owners / Directors
|
Ownership
|
Shares
Owned
|
Percent
|
|||
All
Executive Officers
|
||||||
and
Directors as a Group *
|
||||||
(5
persons)
|
Common
|
8,926,784
|
37.53.%
|
|||
Anthony
Munafo
|
Common
|
565,850
|
2.38%
|
|||
John
Honour
|
Common
|
7,024,934
|
29.53%
|
|||
Herky
Williams
|
Common
|
671,000
|
2.82%
|
|||
Gov.
Carlos Romero Barcelo
|
Common
|
100,000
|
0.42%
|
|||
Steven
Curran
|
Common
|
100,000
|
0.42%
|
Exhibit
Number
|
Title
of Document
|
2.1
*
|
Acquisition
Agreement and Plan of Reverse Merger by and between StereoVision Vision
Entertainment, Inc. and Kestrel Equity Corporation dated
December 3, 1999. (incorporated by reference to Form 10-SB
filed with the SEC on December 17, 1999)
|
2.2
*
|
Agreement
and Plan of Merger by and between Kestrel Equity Corporation and SVE
Merger, Inc. dated January 10, 2000.
|
3.1
*
|
Articles
of Incorporation of Kestrel Equity Corporation filed with the State of
Arizona on December 14, 1993. (incorporated by reference to Form 10-SB
filed with the SEC on December 17, 1999)
|
3.2
*
|
Articles
of Amendment of Articles of Incorporation of Kestrel Equity Corporation
filed with the State of Arizona on June 18, 1997. (incorporated by
reference to Form 10-SB filed with the SEC on December 17,
1999)
|
3.3
*
|
Articles
of Amendment of Articles of Incorporation of Kestrel Equity Corporation
filed with the State of Arizona on September 30, 1997. (incorporated by
reference to Form 10-SB filed with the SEC on December 17,
1999)
|
3.4
*
|
Bylaws
of the Kestrel Equity Corporation. (incorporated by reference
to Form 10-SB filed with the SEC on December 17,
1999)
|
3.5
*
|
Articles
of Incorporation of SVE Merger, Inc. filed with the State of Nevada on
December 23, 1999.
|
3.6
*
|
Bylaws
of SVE Merger, Inc.
|
4.1
*
|
Specimen
Stock Certificate of Kestrel Equity Corporation. (incorporated by
reference to Form 10-SB filed with the SEC on December 17,
1999)
|
4.2
*
|
Specimen
Stock Certificate of SVE Merger, Inc.
|
10.1*
|
Stock
Purchase Agreement by and between Kestrel Equity Corporation and John
Honour, dated September 25, 1999.
|
31
|
Certification
of Principal Executive and Principal Financial Officer Pursuant to 18
U.S.C Section 1350 as Adopted Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
32
|
Certification
of Principal Executive and Principal Financial Officer Pursuant to 18
U.S.C Section 1350 as Adopted Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
|
(*)
|
Incorporated
by reference to the Registrant’s registration statement on Form 10-SB
filed on August 9, 2000.
|
(a)
|
Reports on Form 8-K
filed.
|
Fiscal
year ending
June
30, 2009
|
Fiscal
year ending
June
30, 2008
|
|||||||
Audit
Fees
|
$ | 24,270 | $ | 29,351 | ||||
Audit
Related Fees
|
NIL
|
NIL
|
||||||
Tax
Fees
|
480 | 480 | ||||||
All
Other Fees
|
NIL
|
NIL
|
Page
|
|
Report
of Independent Registered Public Accountants
|
F -
1
|
Consolidated
Balance Sheets
|
|
June
30, 2009 and 2008
|
F -
3
|
Consolidated
Statements of Operations for the
|
|
Years
Ended June 30, 2009 and 2008 and the Cumulative
|
|
Period
May 5, 1999 (inception) to June 30, 2009
|
F -
4
|
Consolidated
Statement of Stockholders' Equity for the
|
|
Period
May 5, 1999 (Inception) to June 30, 2009
|
F -
5
|
Consolidated
Statements of Cash Flows for the
|
|
Years
Ended June 30, 2009 and 2008 and the Cumulative
|
|
Period
May 5, 1999 (Inception) to June 30, 2009
|
F -
22
|
Notes
to Consolidated Financial Statements
|
F -
24
|
ASSETS:
|
June
30,
|
|||||||
2009
|
2008
|
|||||||
Current
Assets:
|
||||||||
Cash
|
$ | - | $ | 4,341 | ||||
Prepaid
Expense
|
38,950 | 6,750 | ||||||
Total
Current Assets
|
38,950 | 11,091 | ||||||
Fixed
Assets:
|
||||||||
Office
Equipment
|
16,745 | 16,745 | ||||||
Less
Accumulated Depreciation
|
(15,335 | ) | (14,375 | ) | ||||
Net
Fixed Assets
|
1,410 | 2,370 | ||||||
Intangible
and Other Non- Current Assets:
|
||||||||
Investment
in JamOakie
|
11,893 | 11,893 | ||||||
Films,
Manuscripts, Recordings and Similar Property
|
430,078 | 406,750 | ||||||
Net
Intangible and Other Non-Current Assets
|
441,971 | 418,643 | ||||||
|
||||||||
Total
Assets
|
$ | 482,331 | $ | 432,104 | ||||
LIABILITIES AND STOCKHOLDERS’
EQUITY:
|
||||||||
Liabilities:
|
||||||||
Accounts
Payable
|
$ | 198,844 | $ | 188,510 | ||||
Accrued
Expenses
|
402,908 | 613,790 | ||||||
Bank
Overdraft
|
4,709 | |||||||
Lawsuit
Payable
|
32,411 | 32,411 | ||||||
Loans
from Shareholders
|
981,492 | 795,079 | ||||||
Total
Current Liabilities
|
1,620,364 | 1,629,790 | ||||||
Stockholders'
Equity:
|
||||||||
Common
Stock, $.001 Par value
|
||||||||
Authorized
100,000,000 shares,
|
||||||||
Issued
23,786,138 shares at June 30, 2009
|
||||||||
and
22,720,138 shares at June 30, 2008
|
23,786 | 22,720 | ||||||
Common
Stock to be Issued, 96,000 shares at
|
||||||||
June
30, 2009 and 2008
|
96 | 96 | ||||||
Additional
Paid in Capital
|
15,858,149 | 15,334,465 | ||||||
Deficit
Accumulated During the Development Stage
|
(17,020,064 | ) | (16,554,967 | ) | ||||
Total
Stockholders' Equity
|
(1,138,033 | ) | (1,197,686 | ) | ||||
Total
Liabilities and Stockholders' Equity
|
$ | 482,331 | $ | 432,104 |
Cumulative
|
||||||||||||
Since
May 5,
|
||||||||||||
1999
|
||||||||||||
For
the Years Ended
|
Inception
of
|
|||||||||||
June
30,
|
Development
|
|||||||||||
2009
|
2008
|
Stage
|
||||||||||
Revenues
|
$ | - | $ | - | $ | - | ||||||
Expenses
|
||||||||||||
Research
& Development
|
- | - | 293,000 | |||||||||
General
& Administrative
|
248,639 | 316,676 | 9,166,953 | |||||||||
Salaries
& Consulting
|
246,908 | 892,949 | 6,526,721 | |||||||||
Advertising
& Promotion
|
- | - | 418,423 | |||||||||
Loss
on Investment
|
- | - | 558,191 | |||||||||
Lawsuit
Settlement
|
- | 6,600 | 111,511 | |||||||||
Operating
Loss
|
(495,547 | ) | (1,216,225 | ) | (17,074,799 | ) | ||||||
Other
income (expense):
|
||||||||||||
Interest
income
|
1 | 2,561 | 2,562 | |||||||||
Interest
expense
|
(106,251 | ) | (118,965 | ) | (672,503 | ) | ||||||
Forgiveness
of debt
|
137,500 | - | 600,138 | |||||||||
Investment
Fee
|
- | - | (75,000 | ) | ||||||||
Loss
on Sale of Assets
|
- | - | (15,883 | ) | ||||||||
Write
off of Note Receivable
|
- | - | (191,701 | ) | ||||||||
Gain
(Loss) on Available for Sale
|
||||||||||||
Securities
|
- | - | 412,772 | |||||||||
Total
Other Income (expense)
|
31,250 | (116,404 | ) | 60,385 | ||||||||
Net
Loss Before Taxes
|
(464,297 | ) | (1,332,629 | ) | (17,014,414 | ) | ||||||
Income
Tax Expense
|
(800 | ) | (800 | ) | (5,650 | ) | ||||||
Net
Loss
|
$ | (465,097 | ) | $ | (1,333,429 | ) | $ | (17,020,064 | ) | |||
Basic
& Diluted loss Per Share
|
$ | (0.02 | ) | $ | (0.06 | ) | ||||||
Weighted
Average
|
23,700,946 | 21,453,676 |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
May
5, 1999 Stock Issued for Services
|
||||||||||||||||||||
and
Payment of Accounts Payable
|
1,530,000 | $ | 1,530 | $ | - | $ | 3,470 | $ | - | |||||||||||
Net
Loss
|
- | - | - | - | (144,977 | ) | ||||||||||||||
Balance
at June 30, 1999
|
1,530,000 | 1,530 | - | 3,470 | (144,977 | ) | ||||||||||||||
Retroactive
Adjustment for 25:1
|
||||||||||||||||||||
Stock
Split May 30, 2003
|
(1,468,800 | ) | (1,469 | ) | - | 1,469 | - | |||||||||||||
Restated
Balance June 30, 1999
|
61,200 | 61 | - | 4,939 | (144,977 | ) | ||||||||||||||
December
2, 1999 Stock Issued in
|
||||||||||||||||||||
Exchange
for Assets
|
58,800 | 59 | - | 4,011,841 | - | |||||||||||||||
December
3, 1999 Stock Issued in
|
||||||||||||||||||||
Connection
to Merger with Kestrel
|
||||||||||||||||||||
Equity
Corporation
|
48,000 | 48 | - | (112,114 | ) | - | ||||||||||||||
December
31, 1999 Stock Issued
|
||||||||||||||||||||
for
Services
|
14,000 | 14 | - | 699,986 | - | |||||||||||||||
February
14, 2000 Stock Issued
|
||||||||||||||||||||
for
Services
|
4,000 | 4 | - | 99,996 | - | |||||||||||||||
April
17, 2000 Stock Issued for
|
||||||||||||||||||||
Services
|
4,000 | 4 | - | 99,996 | - | |||||||||||||||
May
4, 2000 Stock Issued for Cash
|
2,200 | 2 | - | 54,998 | - | |||||||||||||||
June
2, 2000 Stock Issued for Services
|
4,000 | 4 | - | 99,996 | - | |||||||||||||||
June
30, 2000 Stock Issued for Cash
|
1,420 | 2 | - | 35,498 | - | |||||||||||||||
Net
Loss
|
- | - | - | - | (2,680,213 | ) |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
Balance
at June 30, 2000
|
197,620 | $ | 198 | $ | - | $ | 4,995,136 | $ | (2,825,190 | ) | ||||||||||
September
13, 2000 Stock Issued for
|
||||||||||||||||||||
Conversion
of notes payable
|
5,000 | 5 | - | 141,245 | - | |||||||||||||||
September
29, 2000 Stock Issued for
|
||||||||||||||||||||
Advertising
|
4,000 | 4 | - | 94,996 | - | |||||||||||||||
October
27, 2000 Stock Issued for
|
||||||||||||||||||||
Advertising
|
500 | - | - | 12,500 | - | |||||||||||||||
November
15, 2000 Stock Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
32,000 | 32 | - | 407,106 | - | |||||||||||||||
November
22, 2000 Stock Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
2,000 | 2 | - | 24,998 | - | |||||||||||||||
November
22, 2000 Stock Issued for
|
||||||||||||||||||||
Consulting
|
4,080 | 4 | - | 101,996 | - | |||||||||||||||
December
4, 2000 Stock Issued for
|
||||||||||||||||||||
Services
|
400 | - | - | 10,200 | - | |||||||||||||||
December
14, 2000 Stock Issued for
|
||||||||||||||||||||
Services
|
4,000 | 4 | - | 105,996 | - | |||||||||||||||
January
23, 2001 Stock Issued for
|
||||||||||||||||||||
Cash
|
600 | 1 | - | 14,999 | - | |||||||||||||||
January
30, 2001 Stock Issued for
|
||||||||||||||||||||
Services
|
4,724 | 4 | - | 64,946 | - | |||||||||||||||
March
10, 2001 Stock Issued for
|
||||||||||||||||||||
Services
|
8,000 | 8 | - | 153,992 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
April
9, 2001 Stock Issued for
|
||||||||||||||||||||
Advertising
|
3,600 | $ | 4 | $ | - | $ | 49,496 | $ | - | |||||||||||
April
18, 2001 Stock Issued for
|
||||||||||||||||||||
Acquisition
of Wilfield Entertainment
|
16,000 | 16 | - | 219,984 | - | |||||||||||||||
May
25, 2001 Shares Cancelled for
|
||||||||||||||||||||
Non-Performance
of Advertising and
|
||||||||||||||||||||
Services
|
(14,000 | ) | (14 | ) | - | (328,486 | ) | - | ||||||||||||
June
1, 2001 Shares Issued for
|
||||||||||||||||||||
Conversion
of Notes Payable
|
840 | 1 | - | 7,512 | - | |||||||||||||||
June
15, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
1,000 | 1 | - | 14,999 | - | |||||||||||||||
June
28, 2001 Shares Issued for
|
||||||||||||||||||||
Advertising
|
4,000 | 4 | - | 59,996 | - | |||||||||||||||
June
28, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
6,000 | 6 | - | 89,994 | - | |||||||||||||||
June
29, 2001 Shares Issued for
|
||||||||||||||||||||
Conversion
of Notes Payable
|
34,000 | 34 | - | 224,966 | - | |||||||||||||||
Net
Loss
|
- | - | - | - | (4,572,325 | ) | ||||||||||||||
Balance
at June 30, 2001
|
314,364 | 314 | - | 6,466,571 | (7,397,515 | ) | ||||||||||||||
July
3, 2001 Shares Issued for Expense
|
1,000 | 1 | - | 9,999 | - | |||||||||||||||
July
3, 2001 Shares Issued for Services
|
5,000 | 5 | - | 74,995 | - | |||||||||||||||
July
25, 2001 Shares Issued for Cash
|
1,600 | 1 | - | 19,999 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
July
30, 2001 Shares Issued for
|
||||||||||||||||||||
Consulting
|
4,400 | $ | 4 | $ | - | $ | 45,096 | $ | - | |||||||||||
August
29, 2001 Shares Issued for
|
||||||||||||||||||||
Interest
on Notes Payable
|
13,400 | 13 | - | 100,487 | - | |||||||||||||||
September
10, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
800 | 1 | - | 5,999 | - | |||||||||||||||
September
10, 2001 Shares Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
4,000 | 4 | - | 25,596 | - | |||||||||||||||
September
25, 2001 Shares Canceled
|
||||||||||||||||||||
For
Non-Performance of Contract
|
(4,000 | ) | (4 | ) | - | 70,536 | - | |||||||||||||
September
27, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
101,000 | 101 | - | 1,136,149 | - | |||||||||||||||
September
27, 2001 Shares Issued for
|
||||||||||||||||||||
Cash
and Commission
|
2,000 | 2 | - | 24,998 | - | |||||||||||||||
October
2, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
18,000 | 18 | - | 242,982 | - | |||||||||||||||
October
31, 2001 Shares Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
10,182 | 10 | - | 89,085 | - | |||||||||||||||
November
1, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
2,825 | 3 | - | 14,123 | - | |||||||||||||||
November
7, 2001 Shares Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
8,910 | 9 | - | 55,676 | - | |||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
December
19, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
44,000 | $ | 44 | $ | - | $ | 153,956 | $ | - | |||||||||||
December
19, 2001 Shares Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
6,820 | 7 | - | 23,863 | - | |||||||||||||||
December
20, 2001 Shares Issued for
|
||||||||||||||||||||
Services
|
30,000 | 30 | - | 157,470 | - | |||||||||||||||
January
15, 2002 Shares Issued for
|
||||||||||||||||||||
Cash
|
12,000 | 12 | - | 99,988 | - | |||||||||||||||
January
24, 2002 Shares Issued for
|
||||||||||||||||||||
Previous
Conversion of Note Payable
|
55,660 | 56 | - | (57 | ) | - | ||||||||||||||
February
25, 2002 Shares Issued for
|
||||||||||||||||||||
Previous
Conversion of Note Payable
|
63,525 | 64 | - | (64 | ) | - | ||||||||||||||
April
10, 2002 Shares Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
9,920 | 10 | - | 32,617 | - | |||||||||||||||
April
15, 2002 Shares Issued for Rent
|
2,000 | 2 | - | 3,998 | - | |||||||||||||||
April
15, 2002 Shares Issued for Cash
|
4,000 | 4 | - | 2,996 | - | |||||||||||||||
April
29, 2002 Shares Issued for
|
||||||||||||||||||||
Project
Agreement
|
8,000 | 8 | - | 11,992 | - | |||||||||||||||
April
29, 2002 Shares Issued for
|
||||||||||||||||||||
Consulting
|
4,000 | 4 | - | 5,996 | - | |||||||||||||||
May
8, 2002 Shares Issued for Cash
|
4,000 | 4 | - | 2,496 | - | |||||||||||||||
May
24, 2002 Shares Issued for
|
||||||||||||||||||||
Consulting
|
4,000 | 4 | - | 3,496 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
May
30, 2002 Shares Issued for
|
||||||||||||||||||||
Project
Agreement
|
4,000 | $ | 4 | $ | - | $ | 2,996 | $ | - | |||||||||||
June
24, 2002 Shares Issued for Cash
|
4,000 | 4 | - | 7,496 | - | |||||||||||||||
Net
Loss
|
- | - | - | - | (1,066,683 | ) | ||||||||||||||
Balance
at June 30, 2002
|
739,406 | 739 | - | 8,891,530 | (8,464,198 | ) | ||||||||||||||
July
1, 2002 Shares Issued for Cash
|
34,000 | 34 | - | 9,466 | - | |||||||||||||||
July
8, 2002 Shares Issued for
|
||||||||||||||||||||
Interest
on Debt Retirement
|
85,344 | 85 | - | 81,582 | - | |||||||||||||||
December
20, 2002, Shares returned
|
||||||||||||||||||||
to
treasury and cancelled
|
(20,000 | ) | (20 | ) | - | 20 | - | |||||||||||||
December
23, 2002, Shares
|
||||||||||||||||||||
Cancelled
for non-performance of
|
||||||||||||||||||||
Services
|
(104,000 | ) | (104 | ) | - | (1,054,396 | ) | - | ||||||||||||
January
1, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
494,000 | 494 | - | 370,006 | - | |||||||||||||||
March
18, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
52,600 | 53 | - | 26,247 | - | |||||||||||||||
March
26, 2003, Shares Issued for
|
||||||||||||||||||||
Conversion
of Debt
|
160,000 | 160 | - | 274,772 | - | |||||||||||||||
March
26, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
13,200 | 13 | - | 6,587 | - | |||||||||||||||
May
9, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
101,600 | 102 | - | 25,298 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
May
29, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
108,000 | $ | 108 | $ | - | $ | 121,932 | $ | - | |||||||||||
June
2, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
38,000 | 38 | - | 42,902 | - | |||||||||||||||
June
2, 2003, Shares Issued for
|
||||||||||||||||||||
Conversion
of Debt
|
88,000 | 88 | - | 19,912 | - | |||||||||||||||
June
3, 2003, Shares Cancelled for
|
||||||||||||||||||||
Non-Performance
of Service
|
(12,000 | ) | (12 | ) | - | (56,988 | ) | - | ||||||||||||
June
12, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
2,000,000 | 2,000 | - | 598,000 | - | |||||||||||||||
June
20, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
10,000 | 10 | - | 5,990 | - | |||||||||||||||
June
25, 2003, Shares Issued for
|
||||||||||||||||||||
Conversion
of Debt
|
40,000 | 40 | - | 15,451 | - | |||||||||||||||
Net
Loss
|
- | - | - | - | (1,447,447 | ) | ||||||||||||||
Balance
at June 30, 2003
|
3,828,150 | 3,828 | - | 9,378,311 | (9,911,645 | ) | ||||||||||||||
July
1, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
100,000 | 100 | - | 47,900 | - | |||||||||||||||
July
8, 2003 Loan Converted to Shares
|
30,000 | 30 | - | 8,875 | - | |||||||||||||||
July
9, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
70,000 | 70 | - | 23,930 | - | |||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
September
11, 2003, Shares Issued
|
||||||||||||||||||||
for
Services
|
218,000 | $ | 218 | $ | - | $ | 101,382 | $ | - | |||||||||||
September
17, 2003, Shares Issued
|
||||||||||||||||||||
for
Services
|
100,000 | 100 | - | 51,900 | - | |||||||||||||||
September
29, 2003, Shares Issued
|
||||||||||||||||||||
for
Services
|
710,000 | 710 | - | 403,990 | - | |||||||||||||||
October
1, 2003, Shares Issued for
|
||||||||||||||||||||
Cash
|
200,000 | 200 | - | 55,300 | - | |||||||||||||||
October
1, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
20,000 | 20 | - | 4,980 | - | |||||||||||||||
November
17, 2003, Shares
|
||||||||||||||||||||
Canceled
for Non-Performance
|
(100,000 | ) | (100 | ) | - | (47,800 | ) | - | ||||||||||||
December
2, 2003, Shares Issued for
|
||||||||||||||||||||
Services
|
1,223,072 | 1,223 | - | 210,277 | - | |||||||||||||||
January
12, 2004, Shares Issued for
|
||||||||||||||||||||
Services
|
90,000 | 90 | - | 53,910 | - | |||||||||||||||
January
20, 2004, Shares Issued for
|
||||||||||||||||||||
Conversion
of Note Payable
|
200,000 | 200 | - | 34,846 | - | |||||||||||||||
February
2, 2004, Shares Issued for
|
||||||||||||||||||||
Cash
|
400,000 | 400 | - | 99,600 | - | |||||||||||||||
February
9, 2004, Shares Canceled
|
||||||||||||||||||||
for
Non-Performance
|
(20,000 | ) | (20 | ) | - | (4,980 | ) | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
March
9, 2004, Shares Issued for
|
||||||||||||||||||||
Cash
|
25,000 | $ | 25 | $ | - | $ | 12,475 | $ | - | |||||||||||
March
9, 2004, Shares Issued for
|
||||||||||||||||||||
Rent
and Accounts Payable
|
100,000 | 100 | - | 24,900 | - | |||||||||||||||
March
9, 2004, Shares Canceled for
|
||||||||||||||||||||
Non-Performance
|
(156,000 | ) | (156 | ) | - | (75,276 | ) | - | ||||||||||||
March
11, 2004, Shares Issued for
|
||||||||||||||||||||
Services
|
345,000 | 345 | - | 689,655 | - | |||||||||||||||
April
7, 2004, Shares Issued for
|
||||||||||||||||||||
Services
|
60,000 | 60 | - | 122,740 | - | |||||||||||||||
April
7, 2004, Shares Issued for
|
||||||||||||||||||||
Cash
|
375,000 | 375 | - | 214,495 | - | |||||||||||||||
April
7, 2004, Loan Converted to
|
||||||||||||||||||||
Shares
|
30,000 | 30 | - | 14,169 | - | |||||||||||||||
April
14, 2004, Shares Issued for
|
||||||||||||||||||||
Cash
|
100,000 | 100 | - | 25,000 | - | |||||||||||||||
May
6, 2004, Shares Issued for
|
||||||||||||||||||||
Cash
|
10,000 | 10 | - | 4,990 | - | |||||||||||||||
May
25, 2004, Shares Issued for
|
||||||||||||||||||||
Services
|
50,000 | 50 | - | 40,450 | - | |||||||||||||||
June
8, 2004, Shares Issued for
|
||||||||||||||||||||
Investment
Expense
|
100,000 | 100 | - | 74,900 | - | |||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
June
16, 2004, Shares Issued for
|
||||||||||||||||||||
Services
|
240,000 | $ | 240 | $ | - | $ | 79,761 | $ | - | |||||||||||
Cancellation
of Stock Options for
|
||||||||||||||||||||
Non-Performance
|
- | - | - | 487,500 | - | |||||||||||||||
Net
Loss
|
- | - | - | - | (2,945,325 | ) | ||||||||||||||
Balance
at June 30, 2004
|
8,348,222 | 8,348 | - | 12,138,180 | (12,856,970 | ) | ||||||||||||||
July
13, 2004, Shares issued for
|
||||||||||||||||||||
Consulting
|
128,333 | 128 | - | 54,805 | - | |||||||||||||||
July
22, 2004, Shares issued for
|
||||||||||||||||||||
Consulting
|
280,000 | 280 | - | 121,920 | - | |||||||||||||||
July
31, 2004, Shares issued for cash
|
100,000 | 100 | - | 24,870 | - | |||||||||||||||
August
9, 2004, Shares issued for
|
||||||||||||||||||||
Consulting
|
620,000 | 620 | - | 183,380 | - | |||||||||||||||
August
26, 2004 Shares issued for cash
|
100,000 | 100 | - | 24,900 | - | |||||||||||||||
August
30, 2004 Shares issued for cash
|
200,000 | 200 | - | 49,800 | - | |||||||||||||||
August
30, 2004, Shares issued for
|
||||||||||||||||||||
Consulting
|
70,000 | 70 | - | 17,430 | - | |||||||||||||||
September
17, 2004, Shares issued for
|
||||||||||||||||||||
Services
|
136,000 | 136 | - | 82,464 | - | |||||||||||||||
December
8, 2004, Shares issued for
|
||||||||||||||||||||
Services
|
36,000 | 36 | - | 17,964 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
December
15, 2004, Shares Issued for
|
||||||||||||||||||||
Services
|
45,000 | $ | 45 | $ | - | $ | 19,955 | $ | - | |||||||||||
December
15, 2004, Loans Converted
|
||||||||||||||||||||
To
Shares
|
103,300 | 103 | - | 38,897 | - | |||||||||||||||
December
17, 2004, Shares issued for
|
||||||||||||||||||||
Services
|
5,000 | 5 | - | 1,845 | - | |||||||||||||||
January
24, 2005, Shares issued for
|
||||||||||||||||||||
Services
|
15,000 | 15 | - | 3,735 | - | |||||||||||||||
January
24, 2005, Shares issued for
|
||||||||||||||||||||
Cash
|
20,000 | 20 | - | 4,980 | - | |||||||||||||||
February
1, 2005, Shares issued for
|
||||||||||||||||||||
Cash
|
120,000 | 120 | - | 24,880 | - | |||||||||||||||
February
22, 2005, Shares issued for
|
||||||||||||||||||||
Cash
|
20,000 | 20 | - | 4,980 | - | |||||||||||||||
March
30, 2005, Shares issued for
|
||||||||||||||||||||
Services
|
355,000 | 355 | - | 163,745 | - | |||||||||||||||
March
30, 2005, Shares issued for
|
||||||||||||||||||||
Accounts
payable
|
100,000 | 100 | - | 24,900 | - | |||||||||||||||
April
4, 2005, Shares issued for
|
||||||||||||||||||||
Services
|
20,000 | 20 | - | 6,980 | - | |||||||||||||||
Shares
to be issued for payroll
|
- | - | 267 | 266,399 | - | |||||||||||||||
Shares
to be issued for Investment
|
||||||||||||||||||||
In
JamOakie Productions, Inc.
|
- | - | 20 | 5,980 | - | |||||||||||||||
Shares
to be issued for expenses
|
- | - | 100 | 34,900 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
Shares
to be issued for conversion of
|
||||||||||||||||||||
Loans
payable
|
- | $ | - | $ | 153 | $ | 31,847 | $ | - | |||||||||||
Net
Loss
|
- | - | - | - | (1,833,011 | ) | ||||||||||||||
Balance
at June 30, 2005
|
10,821,855 | 10,821 | 540 | 13,349,736 | (14,689,981 | ) | ||||||||||||||
August
24, 2005 - Shares issued for
|
||||||||||||||||||||
payroll
- authorized in prior year
|
266,666 | 267 | (267 | ) | - | - | ||||||||||||||
August
24, 2005 - Shares issued for
|
||||||||||||||||||||
accrued
consulting
|
15,000 | 15 | - | 14,985 | - | |||||||||||||||
February
15, 2006 - Shares issued for
|
||||||||||||||||||||
investment
in JamOakie Productions,
|
||||||||||||||||||||
Inc.
- authorized in prior year
|
20,000 | 20 | (20 | ) | - | - | ||||||||||||||
February
15, 2006 - Shares issued for
|
||||||||||||||||||||
conversion
of loans payable -
|
||||||||||||||||||||
authorized
in prior year
|
137,000 | 137 | (137 | ) | - | - | ||||||||||||||
February
15, 2006 - Shares issued for
|
||||||||||||||||||||
conversion
of loans payable
|
832,083 | 832 | - | 84,043 | - | |||||||||||||||
February
15, 2006 - Shares issued for
|
||||||||||||||||||||
expenses
|
277,500 | 278 | - | 23,579 | - | |||||||||||||||
March
17, 2006 - Shares returned to
|
||||||||||||||||||||
treasury
and cancelled
|
(50,000 | ) | (50 | ) | - | 50 | ||||||||||||||
April
18, 2006 - Shares returned to
|
||||||||||||||||||||
treasury
and cancelled
|
(100,000 | ) | (100 | ) | - | 100 | - | |||||||||||||
April
18, 2006 - Shares issued for
|
||||||||||||||||||||
conversion
of loans payable
|
50,000 | 50 | - | 4,950 | - | |||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
May
30, 2006 - Shares issued for
|
||||||||||||||||||||
conversion
of loans payable
|
2,749,972 | $ | 2,750 | $ | - | $ | 273,047 | $ | - | |||||||||||
June
29, 2006 - Shares issued for
|
||||||||||||||||||||
consulting
expense
|
200,000 | 200 | - | 19,800 | - | |||||||||||||||
June
29, 2006 - Shares issued for
|
||||||||||||||||||||
conversion
of loans payable
|
25,000 | 25 | - | 2,475 | - | |||||||||||||||
Shares
to be issued for loans payable
|
- | - | 40 | 3,960 | - | |||||||||||||||
Net
Loss
|
- | - | - | - | (487,303 | ) | ||||||||||||||
Balance
at June 30, 2006
|
15,245,076 | 15,245 | 156 | 13,776,725 | (15,177,284 | ) | ||||||||||||||
July
7, 2006 - Shares issued for cash
|
100,000 | 100 | - | 7,900 | - | |||||||||||||||
July
24, 2006 - Shares issued for cash
|
16,250 | 16 | - | 1,284 | - | |||||||||||||||
July
27, 2006 - Shares issued for cash
|
125,000 | 125 | - | 9,875 | - | |||||||||||||||
September
13, 2006 - Shares issued for
|
||||||||||||||||||||
cash
|
50,000 | 50 | - | 3,975 | - | |||||||||||||||
October
12, 2006 - Shares issued for
|
||||||||||||||||||||
accounts
payable and accrued
|
||||||||||||||||||||
expenses
|
575,000 | 575 | (100 | ) | 47,025 | - | ||||||||||||||
November
1, 2006 - Shares issued for
|
||||||||||||||||||||
accrued
expenses
|
70,000 | 70 | - | 6,930 | ||||||||||||||||
November
14, 2006 - Shares issued
|
||||||||||||||||||||
for
cash
|
28,600 | 29 | - | 1,971 | - | |||||||||||||||
December
8, 2006 - Shares issued for
|
||||||||||||||||||||
cash
|
41,250 | 41 | - | 2,859 | - |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
December
11, 2006 - Shares issued for
|
||||||||||||||||||||
cash
|
50,000 | $ | 50 | $ | - | $ | 3,450 | $ | - | |||||||||||
December
11, 2006 - Shares issued for
|
||||||||||||||||||||
legal
expenses
|
50,000 | 50 | - | 4,950 | - | |||||||||||||||
January
31, 2007 - Shares issued for
|
||||||||||||||||||||
loans
payable
|
20,000 | 20 | - | 1,980 | - | |||||||||||||||
February
8, 2007 - Shares issued for
|
||||||||||||||||||||
accrued
salary
|
2,000,000 | 2,000 | - | 198,000 | - | |||||||||||||||
February
27, 2007 - Shares issued for
|
||||||||||||||||||||
loans
payable
|
305,000 | 305 | - | 30,195 | - | |||||||||||||||
February
27, 2007 - Shares issued for
|
||||||||||||||||||||
cash
|
75,000 | 75 | - | 6,425 | - | |||||||||||||||
March
28, 2007-Shares issued for cash
|
500,000 | 500 | - | 24,500 | - | |||||||||||||||
March
28, 2007 - Shares issued for
|
||||||||||||||||||||
consulting
services
|
100,000 | 100 | - | 9,900 | - | |||||||||||||||
April
2, 2007 - Shares issued for cash
|
625,000 | 625 | - | 108,565 | - | |||||||||||||||
April
5, 2007 - Shares issued for
|
||||||||||||||||||||
consulting
services
|
206,000 | 206 | - | 20,394 | - | |||||||||||||||
April
23, 2007 - Shares issued for cash
|
123,333 | 124 | - | 39,875 | - | |||||||||||||||
Accrued
expenses converted to
|
||||||||||||||||||||
contributed
capital
|
- | - | - | 412,541 | - | |||||||||||||||
Net
loss
|
- | - | - | - | (44,254 | ) | ||||||||||||||
Balance
at June 30, 2007
|
20,305,509 | 20,306 | 56 | 14,719,319 | (15,221,538 | ) |
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
July
12, 2007 - Shares issued for
|
||||||||||||||||||||
consulting
expense
|
200,000 | $ | 200 | $ | - | $ | 64,800 | $ | - | |||||||||||
September
11, 2007 - Shares issued for
|
||||||||||||||||||||
investor
relations expense
|
220,000 | 220 | - | 76,780 | - | |||||||||||||||
September
19, 2007 - Shares issued for
|
||||||||||||||||||||
loan
fees
|
100,000 | 100 | - | 34,900 | - | |||||||||||||||
September
19, 2007 - Shares issued for
|
||||||||||||||||||||
accrued
rent
|
37,879 | 37 | - | 12,463 | - | |||||||||||||||
September
19, 2007-Additional shares
|
||||||||||||||||||||
related
to prior issuance
|
6,750 | 7 | - | (7 | ) | - | ||||||||||||||
October
15, 2007 - Shares issued for
|
||||||||||||||||||||
board
of directors fees
|
500,000 | 500 | - | 109,500 | - | |||||||||||||||
February
12, 2008 - Shares issued for
|
||||||||||||||||||||
consulting
expense
|
100,000 | 100 | - | 19,900 | - | |||||||||||||||
February
12, 2008 - Shares issued for
|
||||||||||||||||||||
investment
in Booty 3D
|
200,000 | 200 | - | 31,800 | - | |||||||||||||||
February
12, 2008 - Shares issued for
|
||||||||||||||||||||
loan
fees
|
100,000 | 100 | - | 17,900 | - | |||||||||||||||
February
12, 2008 - Shares issued for
|
||||||||||||||||||||
investor
relations fees
|
250,000 | 250 | - | 44,750 | - | |||||||||||||||
February
28, 2008 - Shares issued for
|
||||||||||||||||||||
investment
in Booty 3D
|
100,000 | 100 | - | 26,900 | - | |||||||||||||||
March
6, 2008 - Shares issued for
|
||||||||||||||||||||
investment
in Kung Fu U 3D
|
100,000 | 100 | - | 17,900 | - | |||||||||||||||
April
22, 2008 - Shares issued for
|
||||||||||||||||||||
interest
expense
|
100,000 | 100 | - | 27,900 | - | |||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
May
8, 2008 - Shares issued for
|
||||||||||||||||||||
consulting
expense
|
100,000 | $ | 100 | $ | - | $ | 34,900 | $ | - | |||||||||||
May
8, 2008 - Shares issued for
|
||||||||||||||||||||
board
of directors fees
|
100,000 | 100 | - | 34,900 | - | |||||||||||||||
June
20, 2008 - Shares issued for
|
||||||||||||||||||||
cash
|
200,000 | 200 | - | 49,800 | - | |||||||||||||||
Shares
recorded but not yet issued for
|
||||||||||||||||||||
investor
relation fees
|
- | - | 40 | 10,060 | - | |||||||||||||||
Net
loss
|
- | - | - | - | (1,333,429 | ) | ||||||||||||||
Balance
at June 30, 2008
|
22,720,138 | 22,720 | 96 | 15,334,465 | (16,554,967 | ) | ||||||||||||||
July
14, 2008 – Shares issued
|
||||||||||||||||||||
for
cash
|
500,000 | 500 | - | 99,500 | - | |||||||||||||||
July
14, 2008 – Shares issued for services
|
100,000 | 100 | - | 19,900 | - | |||||||||||||||
July
28, 2008 – Shares issued for services
|
40,000 | 40 | - | 7,960 | - | |||||||||||||||
August
6, 2008 – Shares issued for accrued
|
||||||||||||||||||||
salary
|
1,000,000 | 1,000 | - | 249,000 | - | |||||||||||||||
September
12, 2008 – Shares issued for cash
|
100,000 | 100 | - | 10,400 | - | |||||||||||||||
January
26, 2009 – Shares issued for cash
|
50,000 | 50 | - | 4,950 | - | |||||||||||||||
January
26, 2009 – Shares issued for
|
||||||||||||||||||||
consulting
and professional fees
|
115,000 | 115 | - | 12,535 | - | |||||||||||||||
March
17, 2009 – Shares issued for cash
|
50,000 | 50 | - | 4,950 | - | |||||||||||||||
March
17, 2009 – Shares issued for interest
|
||||||||||||||||||||
expense
|
100,000 | 100 | - | 9,900 | - | |||||||||||||||
March
17, 2009 – Shares issued for
|
||||||||||||||||||||
accrued
rent
|
200,000 | 200 | - | 19,800 | - | |||||||||||||||
March
17, 2009 – Shares issued for
|
||||||||||||||||||||
services
|
100,000 | 100 | - | 9,900 | - | |||||||||||||||
April
6, 2009 – Shares issued for cash
|
100,000 | 100 | - | 9,900 | - | |||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Common
|
Additional
|
During
|
||||||||||||||||||
Common
Stock
|
Stock
|
Paid
in
|
Development
|
|||||||||||||||||
Shares
|
Value
|
to
be Issued
|
Capital
|
Stage
|
||||||||||||||||
April
27, 2009 – Shares issued for cash
|
100,000 | $ | 100 | $ | - | $ | 9,900 | $ | - | |||||||||||
April
27, 2009 – Shares issued for
|
||||||||||||||||||||
notes
payable
|
70,000 | 70 | - | 6,930 | - | |||||||||||||||
April
27, 2009 – Shares issued for
|
||||||||||||||||||||
consulting
services
|
50,000 | 50 | - | 6,950 | - | |||||||||||||||
May
5, 2009 – Shares issued for
|
||||||||||||||||||||
notes
payable
|
200,000 | 200 | - | 19,800 | - | |||||||||||||||
May
19, 2009 – Shares issued for
|
||||||||||||||||||||
notes
payable
|
20,000 | 20 | - | 1,980 | - | |||||||||||||||
June
15, 2009 – Shares issued for
|
||||||||||||||||||||
rent
expense
|
36,000 | 36 | - | 3,924 | - | |||||||||||||||
Shares
returned to treasury and cancelled
|
(1,865,000 | ) | (1,865 | ) | - | 1,865 | - | |||||||||||||
Interest
expense recorded to paid-in capital
|
||||||||||||||||||||
due
to beneficial conversion features
|
||||||||||||||||||||
from
notes payable
|
- | - | - | 13,640 | - | |||||||||||||||
Net
loss
|
- | - | - | - | (465,097 | ) | ||||||||||||||
Balance
at June 30, 2009
|
23,786,138 | $ | 23,786 | $ | 96 | $ | 15,858,149 | $ | (17,020,064 | ) |
Cumulative
|
||||||||||||
Since
May 5,
|
||||||||||||
1999
|
||||||||||||
For
the Years Ended
|
Inception
of
|
|||||||||||
June
30,
|
Development
|
|||||||||||
2009
|
2008
|
Stage
|
||||||||||
CASH FLOWS FROM OPERATING
ACTIVITIES:
|
||||||||||||
Net
Loss
|
$ | (465,097 | ) | $ | (1,333,429 | ) | $ | (17,020,064 | ) | |||
Adjustments
to reconcile net loss to net
|
||||||||||||
cash
used in operating activities:
|
||||||||||||
Depreciation
and Amortization
|
960 | 630 | 3,538,018 | |||||||||
Interest
expense from beneficial conversion features
|
13,640 | - | 13,640 | |||||||||
Issuance
of Common Stock for Expenses
|
71,610 | 478,100 | 6,908,295 | |||||||||
Stock
Issued for Payment of Accounts Payable
|
20,000 | - | 70,500 | |||||||||
Stock
Issued for accrued expenses
|
- | 12,500 | 494,166 | |||||||||
Compensation
Expense from Stock Options
|
- | - | 487,500 | |||||||||
Realized
gain on trading investments
|
- | - | (412,773 | ) | ||||||||
Loss
on sale of assets
|
- | - | 15,883 | |||||||||
Loss
on Investment Written Off
|
- | - | 557,008 | |||||||||
Gain
on Forgiveness of Debt
|
(137,500 | ) | - | (600,138 | ) | |||||||
Cash
acquired in merger
|
- | - | 332 | |||||||||
Change
in operating assets and liabilities:
|
||||||||||||
Prepaid
Expense
|
(32,200 | ) | (6,750 | ) | (38,950 | ) | ||||||
Investment
in films, manuscripts, recordings
|
||||||||||||
and
similar property
|
(23,328 | ) | (305,750 | ) | (625,086 | ) | ||||||
Accounts
Payable
|
10,334 | 55,590 | 353,080 | |||||||||
Accrued
Expenses
|
265,534 | 328,718 | 1,428,723 | |||||||||
Lawsuit
Payable
|
- | - | 32,411 | |||||||||
Payable
to SAG for Route 66
|
- | - | 71,493 | |||||||||
Net
Cash Used in operating activities
|
(276,047 | ) | (770,391 | ) | (4,725,962 | ) | ||||||
CASH FLOWS FROM INVESTING
ACTIVITIES:
|
||||||||||||
Purchase
of investment
|
- | - | (5,892 | ) | ||||||||
Purchase
of equipment
|
- | (3,000 | ) | (16,745 | ) | |||||||
Proceeds
from sale of assets
|
- | - | 51,117 | |||||||||
Proceeds
from sale of investments
|
- | - | 565,773 | |||||||||
Net
cash provided (used) in investing activities
|
- | (3,000 | ) | 594,253 |
Cumulative
|
||||||||||||
Since
May 5,
|
||||||||||||
1999
|
||||||||||||
For
the Years Ended
|
Inception
of
|
|||||||||||
June
30,
|
Development
|
|||||||||||
2009
|
2008
|
Stage
|
||||||||||
CASH FLOWS FROM FINANCING
ACTIVITIES:
|
||||||||||||
Net
proceeds from loans from shareholders
|
$ | 126,497 | $ | 588,530 | $ | 2,786,289 | ||||||
Proceeds
from issuance of common stock
|
140,500 | 50,000 | 1,276,711 | |||||||||
Proceeds
from issuance of short-term notes
|
- | - | 64,000 | |||||||||
Bank
Overdraft
|
4,709 | - | 4,709 | |||||||||
Net
Cash Provided by Financing Activities
|
271,706 | 638,530 | 4,131,709 | |||||||||
Net
(Decrease) Increase in Cash
|
(4,341 | ) | (134,861 | ) | - | |||||||
Cash
at Beginning of Period
|
4,341 | 139,202 | - | |||||||||
Cash
at End of Period
|
$ | - | $ | 4,341 | $ | - | ||||||
SUPPLEMENTAL
DISCLOSURE OF CASH FLOW INFORMATION:
|
||||||||||||
Cash
paid during the year for:
|
||||||||||||
Interest
|
$ | - | $ | 24,877 | $ | 68,676 | ||||||
Income
taxes
|
$ | - | $ | 7,670 | $ | 7,670 | ||||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND
FINANCING ACTIVITIES:
|
||||||||||||
Common
Stock Issued for Investment in
|
||||||||||||
Wilfield
Entertainment
|
$ | - | $ | - | $ | 220,000 | ||||||
Common
Stock Issued for Investment in
|
||||||||||||
Mad
Dogs & Oakies Project
|
$ | - | $ | - | $ | 3,000 | ||||||
Common
Stock Issued for Investment in
|
||||||||||||
In
the Garden of Evil Project
|
$ | - | $ | - | $ | 12,000 | ||||||
Common
Stock Issued for Investment in
|
||||||||||||
Booty
3D
|
$ | - | $ | 59,000 | $ | 59,000 | ||||||
Common
Stock Issued for Investment in
|
||||||||||||
Kung
Fu U 3D
|
$ | 18,000 | $ | 18,000 | ||||||||
Notes
Payable Converted to Stock
|
$ | 29,000 | $ | 81,500 | $ | 1,739,608 |
2009
|
2008
|
|||||||
Net
Operating Losses
|
$ | 2,553,000 | $ | 2,483,250 | ||||
Valuation
Allowance
|
(2,553,000 | ) | (2,483,250 | ) | ||||
$ | - | $ | - |
2009
|
2008
|
|||||||
Provision
(Benefit) at US Statutory Rate
|
$ | 69,750 | $ | 200,100 | ||||
Increase
(Decrease) in Valuation Allowance
|
(69,750 | ) | (200,100 | ) | ||||
$ | - | $ | - |
Dated:
May 13, 2010
|
By /S/ John
Honour
|
C.E.O.,
President, Director
|