MAVERICK MINERALS CORP

CIK:0001074929|SEC Filings

Condensed Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
General and administration expenses	$ (58,696)	$ (72,591)	$ (140,561)	$ (247,952)
Total operating expenses	(58,696)	(72,591)	(140,561)	(247,952)
Other income (expenses)
Other income	0	12,000	12,000	37,000
Interest expense	(4,773)	(3,179)	(12,434)	(10,956)
Gain on settlement of loans payable	0	63,100	0	80,600
Gain (Loss) on foreign exchange	7,878	552	7,570	(4,314)
Gain on write-off of accounts payable	0	0	3,973	0
Total other income (expenses), net	3,105	72,473	11,109	102,330
Net loss and comprehensive loss for the period	$ (55,591)	$ (118)	$ (129,452)	$ (145,622)
Loss per share - basic and diluted	$ 0.00	$ 0.00	$ (0.01)	$ (0.01)
Weighted average shares outstanding - basic and diluted	16,141,674	16,060,152	16,141,674	16,047,901

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
Condensed Consolidated Statements of Cash Flows (USD $)	Sep. 30, 2014	Sep. 30, 2013
Operating Activities
Net loss for the period	$ (129,452)	$ (145,622)
Items not involving cash:
Gain on write-off of accounts payable	(3,973)	0
Interest accrued on convertible debt	8,841	10,956
Unrealized foreign exchange	(4,222)	0
Gain on settlement of loan payable	0	(80,600)
Changes in non-cash working capital items
Accounts receivable	(4,000)	(4,000)
Prepaid expenses	(920)	0
Accounts payable	39,085	165,140
Cash used in operating activities	(94,641)	(54,126)
Financing Activities
Repayments of loans payable	0	(26,900)
Proceeds from loans payable	103,911	70,000
Cash (used in)/provided by financing activities	103,911	43,100
Decrease in cash during the period	9,270	(11,026)
Cash, beginning of the period	4,243	17,553
Cash, end of the period	13,513	6,527
Supplemental Cash Flow information:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current Asset
Cash	$ 13,513	$ 4,243
Accounts receivable	3,000	0
Prepaid expenses	920	0
TOTAL CURRENT ASSETS	17,433	4,243
Mineral property	28,000	28,000
TOTAL ASSETS	45,433	32,243
Current Liabilities
Accounts payable and accrued liabilities	331,166	297,054
Convertible debt	146,807	137,966
Loans payable	121,252	52,907
TOTAL CURRENT LIABILITIES	599,225	487,927
Loans payable	101,344	70,000
TOTAL LIABILITIES	700,569	557,927
Capital Deficit
Capital Stock Authorized: 750,000,000 common shares at $0.001 par value Issued and fully paid 16,141,674 (December 31, 2013 - 16,141,674) common shares Par value	16,142	16,142
100,000,000 preferred shares at $0.001 par value Issued and fully paid Nil (December 31, 2013 - Nil) preferred shares Par value	0	0
Additional paid-in capital	14,349,191	14,349,191
Accumulated deficit	(15,021,342)	(14,891,890)
Accumulated other comprehensive income	873	873
TOTAL STOCKHOLDERS' EQUITY (CAPITAL DEFICIT)	(655,136)	(525,684)
TOTAL LIABILITIES AND CAPITAL DEFICIT	$ 45,433	$ 32,243