NEXT GENERATION MANAGEMENT CORP.

CIK:0000356292|SEC Filings

Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
Statements of Operations (Unaudited) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES:
Royalty income	$ 490	$ 390	$ 2,220	$ 715
Consulting fees	30,000		50,000
Total revenue	30,490	390	52,220	96
OPERATING EXPENSES:
General & administrative	256,769	68,720	1,189,428	185,016
Total operating expenses	256,769	82,679	1,189,428	(185,016)
(LOSS) FROM OPERATIONS	(226,279)	(68,326)	(1,137,208)	(184,301)
OTHER INCOME AND EXPENSES:
Bad debt expense	(262,341)		(262,341)
Gain (loss) on note conversion to stock	(333,600)		(514,928)	(603,500)
Rental income	42,000		70,000
Gain (loss) on beneficial conversion	10,298	516,834	12,971	(461,792)
Interest expense	(3,853)	(5,567)	(13,850)	(19,948)
Loss on debt restructuring
Total other income and expenses	(547,496)	511,267	(708,148)	(1,085,240)
Net Income (loss) before income taxes	(773,775)	442,941	(1,845,356)	(1,269,541)
Provision for income taxes
NET INCOME (LOSS)	$ (773,775)	$ 442,941	$ (1,845,356)	$ (1,712,482)
Net income/(loss) per common share-basic (Note A)	$ (0.003)	$ 0.004	$ (0.008)	$ (0.01)
Net income/(loss) per common stock-assuming fully diluted (Note A)		$ 0.003
Weighted average number of common shares outstanding-basic	245,278,703	125,996,094	221,395,361	119,368,674
Weighted average number of common shares outstanding-fully diluted		133,348,182

Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
Statements of Cash Flows (Unaudited) (USD $)	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (1,845,356)	$ (1,712,482)
(Gain) loss on beneficial conversion	(12,971)	603,500
(Gain) loss on debt conversion	514,928	978,626
Shares issued for services	632,000
Bad debt expense	262,341
(Increase) in assets
Prepaid expenses	(8,032)
Rent receivable	(48,000)
Security deposit	(24,000)
Increase (decrease) in liabilities
Accounts payable	319,476	(404)
Accounts payable related	211,706
Accrued interest	13,850	14,381
Accrued expenses	213,751	92,500
Net cash flows provided (used) by operating activities	229,693	(23,879)
CASH FLOWS FROM INVESTING ACTIVITIES:
Advance to H2H	(207,000)
Net cash flows (used) by investing activities	(207,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Notes payable		30,000
Advances	125,000
Net cash flows provided by financing activities	125,000	30,000
NET INCREASE IN CASH	147,693	6,121
CASH, BEGINNING OF PERIOD	1,173	528
CASH, END OF PERIOD	148,866	6,649
Cash paid during the period for:
Taxes
Interest
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS:
Shares issued in payment of notes payable	142,000
Shares issued in payment of notes payable - related	260,000
Shares issued in conversion of convertible debt	452,600	17,000
Shares issued in payment of consulting fees	632,000
Shares issued in compensation	$ 156,000

Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash and equivalents	$ 148,866	$ 1,173
Prepaid rent	8,000
Other prepaid expenses	32
Total current assets	149,558	1,173
OIL AND GAS PROPERTIES (FULL COST METHOD):
Mineral rights-Royalty interest	14,930	14,930
Evaluated-Leases	71,000	71,000
Gross oil and gas properties	85,930	85,930
OTHER ASSETS:
Security deposit	24,000
TOTAL ASSETS	259,488	87,103
CURRENT LIABILITIES:
Accounts payable	470,201	150,724
Accrued wages	296,347	238,596
Due to related party		40,000
Advances-Actual Investments	125,000
Accrued interest payable	71,507	58,329
Beneficial conversion feature	31,415	44,386
Note Payable	30,000	60,000
Convertible notes payable, net of debt discount	85,000	133,000
Accounts payable & advances-related party	161,706	170,000
Total current liabilities	1,271,176	896,035
Total long term liabilities
Total liabilities	1,271,176	896,035
DEFICIENCY IN STOCKHOLDERS' EQUITY
Common stock, par value $0.001 per share; 999,000,000 shares authorized, 257,996,094 and 125,996,094 shares issued and outstanding	257,996	125,996
Additional paid in capital	19,489,197	17,978,597
Accumulated deficit	(20,758,881)	(18,913,525)
Total stockholders' (deficit)	(1,011,688)	(808,932)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	266,828	87,103
Series A Preferred Stock
DEFICIENCY IN STOCKHOLDERS' EQUITY
Preferred stock Series A and Series B, $0.001 par value, 500,000 shares authorized, zero issued and outstanding
Series B Preferred Stock
DEFICIENCY IN STOCKHOLDERS' EQUITY
Preferred stock Series A and Series B, $0.001 par value, 500,000 shares authorized, zero issued and outstanding