FUEL PERFORMANCE SOLUTIONS, INC.

CIK:0001078723|SEC Filings

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statements Of Operations
Net Revenues	$ 9,045	$ 91,295	$ 56,667	$ 225,368
Operating expenses:
Cost of operations		(71,598)	(34,470)	(173,070)
Selling, general and administrative expense	(224,851)	(385,233)	(540,238)	(776,713)
Total operating expenses	(224,851)	(456,831)	(574,708)	(949,783)
Net loss from operations	(215,806)	(365,536)	(518,041)	(724,415)
Interest expense, net	(92,605)	(167,519)	(292,709)	(316,475)
Gain (loss) on derivative liability	258,793	27,860	321,230	65,166
Net loss	$ (49,618)	$ (505,195)	$ (489,520)	$ (975,724)
Basic and diluted net income (loss) per common share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted-average common shares outstanding, basic and diluted	203,758,698	203,758,698	203,758,698	203,758,698

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (489,520)	$ (975,724)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash option expense	903	72,783
(Gain) loss on derivative liability	(321,230)	(65,166)
Amortization of debt discount	198,571	255,971
Change in assets and liabilities:
Accounts receivable	9,307	291,518
Inventory		25,984
Prepaid expenses and other assets	12,088	12,257
Accounts payable	(11,234)	(212,452)
Accrued compensation	119,817	37,508
Accrued interest payable	94,165	60,593
Deferred rent	(988)	(1,625)
Net cash used in operating activities	(388,121)	(498,353)
Cash flows from financing activities:
Gross proceeds from issuance of notes payable	286,250
Gross proceeds from issuance of notes payable - related party	90,000
Net cash provided by financing activities	376,250
Net change in cash and cash equivalents	(11,871)	(498,353)
Cash and cash equivalents, beginning	25,609	530,201
Cash and cash equivalents, ending	13,738	31,848
Supplemental disclosure of cash flow information:
Cash paid during the six months ended June 30 : Interest
Cash paid during the six months ended June 30 : Income taxes
Non-cash transactions:
Debt discount due to warrants issued with notes payable	31,179
Notes payable issued for accrued compensation	$ 50,000

BALANCE SHEETS - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 13,738	$ 25,609
Accounts receivable	11,169	20,476
Inventory	10,750	10,750
Prepaid expenses and other assets	15,024	27,112
Total Current Assets	50,681	83,947
Goodwill	2,211,805	2,211,805
Total assets	2,262,486	2,295,752
Current liabilities
Accounts payable	275,987	287,221
Convertible notes payable, net of discount of $0 and $109,811, respectively	1,092,500	982,689
Convertible notes payable - related party, net of discount of $0 and $4,885, respectively	57,500	52,615
Notes payable, net of discount of $20,216 and $0 respectively	266,034
Notes payable - related party, net of discount of $10,963 and $0 respectively	129,037
Accrued interest	222,973	158,997
Accrued interest - related party	13,406	8,368
Accrued compensation	1,006,958	937,141
Derivative liability	134,984	425,035
Other accrued expenses	190,000	190,000
Total current liabilities	3,389,379	3,042,066
Long-term liabilities
Notes payable, net of discount of $132,004 and $216,692, respectively	237,996	153,308
Notes payable - related party, net of discount of $16,056 and $15,243, respectively	28,944	29,757
Accrued interest	35,793	12,874
Accrued interest - related party	3,797	1,565
Deferred rent	5,440	6,428
Deferred income taxes	723,000	723,000
Total Long-term Liabilities	1,034,970	926,932
Total Liabilities	4,424,349	3,968,998
Stockholders' equity (deficit)
Common stock, $0.01 par value; 750,000,000 and 350,000,000 shares authorized at June 30, 2016 and December 31, 2015, respectively; 203,758,698 (net of 1,440,000 shares held in treasury stock) shares issued and outstanding at both June 30, 2016 and December 31, 2015	2,051,987	2,051,987
Treasury stock	(664,600)	(664,600)
Discount on common stock	(819,923)	(819,923)
Additional paid-in capital	72,472,389	72,471,486
Accumulated deficit	(75,201,716)	(74,712,196)
Total stockholders' equity (deficit)	(2,161,863)	(1,673,246)
Total liabilities and stockholders' equity (deficit)	$ 2,262,486	$ 2,295,752