Panacea Global, Inc.
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Summary of Significant Accounting Policies: Earnings Or Loss Per Share (Policies)
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9 Months Ended |
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Sep. 30, 2014
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| Policies | |
| Earnings Or Loss Per Share | Earnings or Loss Per Share
The Company accounts for earnings per share pursuant to ASC 260-10-05, Earnings per Share, which requires disclosure on the financial statements of "basic" and "diluted" earnings (loss) per share. Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common stock outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common stock outstanding plus common stock equivalents (if dilutive) related to stock options and warrants for each period. In periods of losses, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential shares outstanding would be anti-dilutive. |
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Panacea Global, Inc. - Balance Sheets (USD $)
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Sep. 30, 2014
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Dec. 31, 2013
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| Current Assets: | ||||||||||||||||
| Cash | $ 52,208 | $ 2,309,563 | ||||||||||||||
| Accounts receivable | 123,566 | 38,407 | ||||||||||||||
| Accounts receivable, related party | 292,895 | [1] | 133,531 | [1] | ||||||||||||
| Prepaid expenses | 13,550 | 10,633 | ||||||||||||||
| TOTAL CURRENT ASSETS | 482,219 | 2,492,134 | ||||||||||||||
| Property and equipment, net | 78,110 | [2] | 78,236 | [2] | ||||||||||||
| Equity method investment | 909,968 | [3] | 911,672 | [3] | ||||||||||||
| Intangible asset, net | 50,000,000 | [4] | 50,000,000 | [4] | ||||||||||||
| Total Assets | 51,470,297 | 53,482,042 | ||||||||||||||
| LIABILITIES | ||||||||||||||||
| Accounts payable and accrued liabilities, current | 331,255 | 390,074 | ||||||||||||||
| Deferred revenue, current | 1,000,000 | [3] | 1,000,000 | [3] | ||||||||||||
| License fee payable, current | [4] | 574,211 | [4] | |||||||||||||
| Due to related parties, current | 986,453 | [1] | 853,740 | [1] | ||||||||||||
| TOTAL LIABILITIES | 2,317,708 | 2,818,025 | ||||||||||||||
| Stockholders' Equity | ||||||||||||||||
| Preferred Stock | 0 | [5] | 0 | [5] | ||||||||||||
| Capital Stock | 106,748 | [6] | 105,998 | [6] | ||||||||||||
| Additional paid-in capital | 56,322,833 | 55,145,783 | ||||||||||||||
| Accumulated deficit | (7,331,646) | (4,720,970) | ||||||||||||||
| Accumulated other comprehensive income | 54,654 | 133,206 | ||||||||||||||
| Total Stockholders' Equity | 49,152,589 | 50,664,017 | ||||||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 51,470,297 | $ 53,482,042 | ||||||||||||||
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