INTERNATIONAL FOOD PRODUCTS GROUP INC

CIK:0001019216|SEC Filings

Statements of Operations (USD $)	3 Months Ended		39 Months Ended
Statements of Operations (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011
Statements of Operations [Abstract]
Gross sales			$ 14,116
Less: returns, discounts and allowances			4,716
Net sales			9,400
Cost of goods sold			7,855
Gross profit			1,545
Research and development			1,322,599
Inventory impairment			204,434
General and administrative expenses	83,913	787,835	10,873,112
Total operating expenses	83,913	787,835	12,400,145
Loss from operations	(83,913)	(787,835)	(12,398,600)
Other income (expense)
Interest expense		(14,907)	(59,332)
Debt forgiveness	18,570		277,318
Total other income (expense)	18,570	(14,907)	217,986
Net loss	$ (65,343)	$ (802,742)	$ (12,180,614)
Net loss per share, basic and diluted:	$ 0.0	$ 0.0
Shares used in per-share calculation, basic and diluted	1,783,929,254	1,448,140,018

Statements of Cash Flows (USD $)	3 Months Ended		39 Months Ended
Statements of Cash Flows (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011
Cash flows (used by ) operating activities:
Net loss	$ (65,343)	$ (802,742)	$ (12,180,614)
Adjustments to reconcile net loss to net cash used by operating activities
Shares issued for services and debt	17,000	161,681	4,034,774
Loss on inventory impairment			204,434
Decrease (increase) in assets:
Inventory			(227,234)
Prepaid expenses		16,110	975,833
Increase (decrease) in liabilities:
Accounts payable	(26,131)	151,550	(105,851)
Accrued expenses	45,000	26,409	433,834
Net cash provided by (used in) operating activities	(29,474)	(446,992)	(6,864,824)
Cash flows from investing activities:
Cash flows provided by financing activities:
Proceeds from related party		(13,454)	944,377
Payments on related party note payable			(98,212)
Proceeds from notes payable			235,545
Proceeds from subscribed common stock	20,000	757,972	5,250,746
Proceeds from sale of common stock			531,172
Net cash provided by financing activities	20,000	744,518	6,863,628
Net increase (decrease) in cash	(9,474)	297,526	(1,196)
Cash at beginning of year	10,030	2,965	1,752
Cash at end of year	556	300,491	556
Supplemental Disclosures of Cash Flow Information
Interest paid to third parties
Income taxes paid
Supplemental Schedule of Non-cash investing and financing Activities
Issuance of common shares for prepaid services		$ 161,681	$ 3,757,179

Balance Sheets (USD $)	Sep. 30, 2011	Jun. 30, 2011
Current Assets
Cash	$ 556	$ 10,030
Inventory	22,800	22,800
Total Current Assets	23,356	32,830
Total assets	23,356	32,830
Current Liabilities
Trade accounts payable	80,531	106,662
Other accrued expenses	584,446	539,446
Notes payable - related parties	966,153	966,153
Note payable - third party	316,045	316,045
Total current liabilities	1,947,175	1,928,306
Shareholders' Equity (Deficit):
Preferred Stock $.001 par value, 16,000,000 authorized and issued	16,000	16,000
Common stock: $.001 par value; 1,800,000,000 shares authorized; 1,786,755,341 and 1,770,755,341, issued and outstanding, respectively	1,786,757	1,770,757
Common stock subscribed	169,746	179,746
Additional paid-in capital	19,769,703	19,738,703
Deficit accumulated during development stage	(12,180,614)	(12,115,271)
Accumulated deficit	(11,485,411)	(11,485,411)
Total shareholders' equity (deficit)	(1,923,819)	(1,895,476)
Total liabilities and shareholders' equity	$ 23,356	$ 32,830