DRINKS AMERICAS HOLDINGS, LTD

CIK:0000873540|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Apr. 30, 2013	Apr. 30, 2012
Sales, net	$ 3,483,353us-gaap_SalesRevenueGoodsNet	$ 4,395,296us-gaap_SalesRevenueGoodsNet
Cost of sales	2,717,015us-gaap_CostOfGoodsSold	3,121,708us-gaap_CostOfGoodsSold
Gross margin	766,338us-gaap_GrossProfit	1,273,588us-gaap_GrossProfit
Selling, general and administrative expenses	3,898,882	2,346,502
Impairment Loss	5,271,860us-gaap_AssetImpairmentCharges	275,747us-gaap_AssetImpairmentCharges
Loss on settlement of royalty agreement	0us-gaap_GainLossOnContractTermination	250,000us-gaap_GainLossOnContractTermination
Total operating expenses	9,170,742us-gaap_OperatingExpenses	2,872,249us-gaap_OperatingExpenses
Net loss from operations	(8,404,404)us-gaap_OperatingIncomeLoss	(1,598,661)us-gaap_OperatingIncomeLoss
Other income (expense):
Loss on investor note payable settlement	(1,739,888)	0
Interest, net	(2,373,366)us-gaap_InterestExpense	(1,243,592)us-gaap_InterestExpense
Amortization of debt discount	(1,240,920)	0
Gain on change in fair value of derivative	573,574	1,671
Other income (expense)	49,478us-gaap_OtherNonoperatingIncomeExpense	21,132us-gaap_OtherNonoperatingIncomeExpense
Gain on deconsolidation of subsidiary	0us-gaap_DeconsolidationGainOrLossAmount	280,483us-gaap_DeconsolidationGainOrLossAmount
Total other income (expense)	(4,731,122)us-gaap_NonoperatingIncomeExpense	(940,306)us-gaap_NonoperatingIncomeExpense
Net loss before non controlling interests	(13,135,526)us-gaap_ProfitLoss	(2,538,967)us-gaap_ProfitLoss
Net loss attributable to non controlling interest	0	0
Net loss	$ (13,135,526)us-gaap_NetIncomeLoss	$ (2,538,967)us-gaap_NetIncomeLoss
Net loss per common share, basic and diluted (in Dollars per share)	$ (0.53)us-gaap_EarningsPerShareBasic	$ (0.26)us-gaap_EarningsPerShareBasic
Weighted average number of common shares outstanding, basic and diluted (in Shares)	25,001,774	9,924,787

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Apr. 30, 2013	Apr. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,135,526)us-gaap_ProfitLoss	$ (2,538,967)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	0	409,522
Amortization of debt discount	1,133,880	834,496
Bad debt expense	261,107us-gaap_OtherNoncashExpense	21,419us-gaap_OtherNoncashExpense
Impairment losses	5,271,860us-gaap_AssetImpairmentCharges	275,747us-gaap_AssetImpairmentCharges
Non-cash interest - Put liability	2,087,752dkam_IncreaseDecreaseInPutLiability	1,035,296dkam_IncreaseDecreaseInPutLiability
Shares issued for services	577,311us-gaap_PaidInKindInterest	211,731us-gaap_PaidInKindInterest
Settlement loss on investor note payable	1,739,888	0
Gain on deconsolidation of subsidiary	0us-gaap_DeconsolidationGainOrLossAmount	(280,483)us-gaap_DeconsolidationGainOrLossAmount
Gain on change in fair value of derivative liability	(573,574)	(1,671)
Changes in operating assets and liabilities:
Accounts receivable, net	339,601	(692,059)
Inventory, net	821,983us-gaap_IncreaseDecreaseInInventories	(778,551)us-gaap_IncreaseDecreaseInInventories
Other current assets	0	(60,327)
Other assets	0	8,386
Accounts payable	746,573	(1,306,668)
Accounts payable, related party	(325,809)	1,955,809
Accrued expenses	395,694	(83,069)
Deferred rent payable	(2,735)	2,735
Net cash used in operating activities	(661,995)	(986,654)
CASH FLOWS FROM INVESTING ACTIVITIES:
Deposits	0us-gaap_PaymentsForDeposits	(6,225)us-gaap_PaymentsForDeposits
Purchase of property and equipment	0	(13,417)
Net cash used in investing activities	0	(19,642)
CASH FLOWS FROM FINANCING ACTIVITIES:
Line of credit, net	444,992	215,946
Proceeds from the sale of common stock	0	1,440,000
Retirement of Series B preferred stock	0	(27,636)
Net repayments of related party loans	0	(657)
Payments on investor note payable	(383,000)us-gaap_RepaymentsOfRelatedPartyDebt	(383,360)us-gaap_RepaymentsOfRelatedPartyDebt
Proceeds from notes payable	140,000us-gaap_ProceedsFromNotesPayable	336,036us-gaap_ProceedsFromNotesPayable
Proceeds from shareholder advances	30,000	0
Proceeds from convertible notes payable	250,000us-gaap_ProceedsFromConvertibleDebt	0us-gaap_ProceedsFromConvertibleDebt
Payments on notes payable	(27,500)us-gaap_RepaymentsOfNotesPayable	(280,553)us-gaap_RepaymentsOfNotesPayable
Net cash provided from financing activities	454,492	1,299,776
Net increase (decrease) in cash and cash equivalents	(207,503)	293,480
Cash and cash equivalents-beginning of the period	295,403	1,923
Cash and cash equivalents-end of period	87,900	295,403
Supplemental cash flow information:
Interest paid	28,633us-gaap_InterestPaid	24,831us-gaap_InterestPaid
Taxes paid	0us-gaap_IncomeTaxesPaid	0us-gaap_IncomeTaxesPaid
Shares of common stock issued for settlement	0us-gaap_StockIssued1	403,251us-gaap_StockIssued1
Conversion of Series C Preferred to common stock	0us-gaap_ConversionOfStockAmountIssued1	773,497us-gaap_ConversionOfStockAmountIssued1
Debt discount	1,199,361	0
Redemption of Series A Preferred Stock	0	11,598,620
Common stock issuance for settlement of notes payable [Member]
Supplemental cash flow information:
Shares of common stock issued for settlement	36,500	150,756
Common stock issuance for settlement of accounts payable and accrued expenses [Member]
Supplemental cash flow information:
Shares of common stock issued for settlement	856,590	247,442
Common stock issuance to acquire investment [Member]
Supplemental cash flow information:
Common stock issuance to asset	0	39,000
Common stock issuance to acquire trademark [Member]
Supplemental cash flow information:
Common stock issuance to asset	0	4,870,391
Settlement of Accrued Compensation [Member]
Supplemental cash flow information:
Note Issued	0	140,000
Conversion of Accounts Payable, Related Party [Member]
Supplemental cash flow information:
Note Issued	1,630,000	0
Conversion of Accounts Payable [Member]
Supplemental cash flow information:
Note Issued	$ 28,102	$ 0

CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 30, 2013	Apr. 30, 2012
Current assets:
Cash and cash equivalents	$ 87,900	$ 295,403
Accounts receivable, net	138,857us-gaap_AccountsReceivableNetCurrent	739,565us-gaap_AccountsReceivableNetCurrent
Inventory	19,418us-gaap_InventoryNet	841,401us-gaap_InventoryNet
Other current assets	0us-gaap_OtherAssetsCurrent	61,574us-gaap_OtherAssetsCurrent
Total current assets	246,175us-gaap_AssetsCurrent	1,937,943us-gaap_AssetsCurrent
Property and equipment, net	0us-gaap_PropertyPlantAndEquipmentNet	13,518us-gaap_PropertyPlantAndEquipmentNet
Investment in equity investees	0us-gaap_EquityMethodInvestments	0us-gaap_EquityMethodInvestments
Intangible assets, net of accumulated amortization	0	5,019,953
Other assets	0us-gaap_OtherAssetsNoncurrent	54,775us-gaap_OtherAssetsNoncurrent
Total Assets	246,175us-gaap_Assets	7,026,189us-gaap_Assets
Current liabilities:
Accounts payable - trade	796,042us-gaap_AccountsPayableTradeCurrent	934,161us-gaap_AccountsPayableTradeCurrent
Accounts payable – related party		1,955,809
Accrued expenses	1,717,459us-gaap_AccruedLiabilitiesCurrent	1,345,765us-gaap_AccruedLiabilitiesCurrent
Put liability – Series A preferred stock	14,721,668dkam_PutLiabilityCurrent	12,633,916dkam_PutLiabilityCurrent
Line of credit, related party	660,938us-gaap_LinesOfCreditCurrent	215,946us-gaap_LinesOfCreditCurrent
Investor note payable	2,149,888us-gaap_NotesPayableCurrent	793,000us-gaap_NotesPayableCurrent
Notes and loans payable	504,508us-gaap_NotesAndLoansPayableCurrent	392,008us-gaap_NotesAndLoansPayableCurrent
Shareholder advances	30,000us-gaap_DueToAffiliateCurrent	0us-gaap_DueToAffiliateCurrent
Convertible notes payable, net	328,711us-gaap_ConvertibleNotesPayableCurrent	0us-gaap_ConvertibleNotesPayableCurrent
Convertible notes payable – related party, net	1,623,450	0
Derivative liability	625,787us-gaap_DerivativeLiabilitiesCurrent	0us-gaap_DerivativeLiabilitiesCurrent
Total current liabilities	23,158,451us-gaap_LiabilitiesCurrent	18,270,605us-gaap_LiabilitiesCurrent
Long term debt:
Deferred rent payable	0us-gaap_DeferredRentCreditNoncurrent	2,735us-gaap_DeferredRentCreditNoncurrent
Total liabilities	23,158,451us-gaap_Liabilities	18,273,340us-gaap_Liabilities
Commitments and contingencies
Stockholders' deficit:
Preferred stock, value, issued
Common stock, $0.001 par value; 900,000,000 shares authorized; 30,942,180 and 21,279,339 shares issued and outstanding as of April 30, 2013 and 2012, respectively	30,942us-gaap_CommonStockValue	21,279us-gaap_CommonStockValue
Additional paid-in capital	40,534,823us-gaap_AdditionalPaidInCapital	39,074,199us-gaap_AdditionalPaidInCapital
Accumulated deficit	(63,477,723)	(50,342,197)
Total Drinks Americas Holdings, Ltd. stockholders' deficit	(22,911,844)	(11,246,719)
Equity attributable to non-controlling interests	(432)us-gaap_MinorityInterest	(432)us-gaap_MinorityInterest
Total stockholders' deficit	(22,912,276)us-gaap_StockholdersEquity	(11,247,151)us-gaap_StockholdersEquity
Total Liabilities and Stockholders' Deficit	246,175	7,026,189
Series A Preferred Stock [Member]
Stockholders' deficit:
Preferred stock, value, issued	0	0
Series D Preferred Stock [Member]
Stockholders' deficit:
Preferred stock, value, issued	$ 114	$ 0