MOLLER INTERNATIONAL INC

CIK:0000871344|SEC Filings

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2015	Jun. 30, 2014
REVENUE
Other revenue	$ 0	$ 0
OPERATING EXPENSES
Selling, general and administrative	542,662	413,179
Rent expense to majority shareholder	501,233	385,304
Depreciation and amortization	229	770
Total expenses	1,044,124	799,253
Operating Loss	(1,044,124)	(799,253)
OTHER INCOME (EXPENSE)
Interest expense	(877,478)	(432,428)
Other income	17,419	0
Interest expense- majority shareholder	(307,313)	(301,373)
Derivative loss	(854,273)	(202,299)
Total other income (expense)	(2,021,645)	(936,100)
NET LOSS	$ (3,065,769)	$ (1,735,353)
Loss per common share - Basic and diluted (in Dollars per share)	$ (0.04)	$ (0.03)
Weighted average common shares outstanding - Basic and diluted (in Shares)	70,428,453	51,542,291

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities
Net loss	$ (3,065,769)	$ (1,735,353)
Adjustments to reconcile net loss to net cash Provided by (used in) operating activities:
Depreciation expense	229	770
Derivative loss	854,273	202,299
Amortization of debt discount	37,976	0
Stock based compensation	7,793	34,275
Debt discount amortization	402,015	175,435
Change in assets and liabilities:
Prepaid expenses and other current assets	3,413	(2,575)
Accounts payable	(30,202)	8,572
Accrued liabilities - majority shareholder	942,920	1,011,028
Deferred other income	0	24,598
Accrued liabilities and deferred wages	206,676	306,740
Net Cash Provided By (Used in) Operating Activities	(640,676)	25,789
Cash Flows From Investing Activities
Cash paid for purchase of fixed assets	(1,122)	0
Net Cash Provided By (Used in) Investing Activities	(1,122)	0
Cash Flows Provided from Financing Activities
Principal borrowings on convertible notes payable	580,655	375,000
Payments on convertible notes payable	(156,757)	(20,000)
Deferred financing costs	(43,258)	0
Advances from related party	597,955	0
Payments on note payable- majority shareholder	(396,043)	(287,958)
Borrowings on note payable - other	535	0
Payments on note payable- other	(29,088)	0
Net Cash Used in Financing Activities	553,999	67,042
Net Increase (Decrease) In Cash	(87,799)	92,831
Cash, Beginning of Year	97,846	5,015
Cash, End of Year	10,047	97,846
Supplemental Cash Flow Information:
Interest paid	30,573	1,715
Income taxes paid	0	0
Supplemental Disclosure of Non-Cash Financing Activities:
Discount on convertible notes payable from derivative liability	359,424	252,500
Accounts payable settled with common shares	0	67,280
derivative liability write off to common stock due to debt conversion	775,156	666,009
Conversion of convertible notes payable and accrued interest to common stock	462,801	275,353
Debt Assigned to Freedom Motors	68,000	0
Accrued Liabilities transferred to debt	$ 680,319	$ 0

BALANCE SHEETS - USD ($)	Jun. 30, 2015	Jun. 30, 2014
CURRENT ASSETS
Cash	$ 10,047	$ 97,846
Prepaid and other current assets	5,482	3,613
Total current assets	15,529	101,459
PROPERTY AND EQUIPMENT, net	7,969	7,076
Total assets	23,498	108,535
CURRENT LIABILITIES
Accounts payable, trade	612,888	643,090
Accrued liabilities	765,292	935,966
Current Portion of Judgment Liability	42,846
Accrued liabilities-majority shareholder	7,353,989	6,615,469
Accrued liabilities-related parties	665,955	0
Notes payable-other	1,258,182	1,383,682
Note payable - majority shareholder	1,792,904	2,188,947
Convertible notes payable, net of discount of $81,049 and $123,640	352,975	213,240
Notes payable - minority shareholders	859,834	208,068
Derivative Liability	719,792	281,251
Deferred wages – employees	376,278	1,035,335
Deferred other income	24,598	24,598
Customer deposits	384,767	384,767
Total current liabilities	15,210,300	13,914,413
LONG TERM LIABILITIES
Deferred wages and interest-majority shareholder	1,533,230	1,328,830
Non-current Portion of Judgment Liability	234,695
Total liabilities	16,978,225	15,243,243
STOCKHOLDERS' DEFICIT
Common stock, authorized, 150,000,000 shares, no par value 99,620,472 and 54,876,990 issued and outstanding respectively	40,328,642	39,082,892
Accumulated deficit	(57,283,369)	(54,217,600)
Total stockholders' deficit	(16,954,727)	(15,134,708)
	$ 23,498	$ 108,535