Arrayit Corp

CIK:0001084507|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Total Revenues	$ 615,151	$ 492,655	$ 1,975,550	$ 3,532,554
Cost of Sales	244,105	283,591	890,459	1,264,343
Gross Margin	371,046	209,064	1,085,091	2,268,211
Selling, General and Administrative (includes related party stock compensation of $2,572,500 for the three and nine months ended September 30, 2015)	3,490,186	529,806	4,051,083	3,198,667
Research and Development	9,970	4,717	83,970	58,015
Legal Expense	68,389	50,560	134,785	128,127
Income (Loss) from operations	(3,197,499)	(376,019)	(3,184,747)	(1,116,598)
Gain on extinguishment of liabilities	263	0	3,796	391,994
Gain (loss) on derivatives	142,533	0	(310,481)	0
Interest (expense)	(101,658)	(32,350)	(534,865)	(92,143)
Net income (loss)	$ (3,156,361)	$ (408,369)	$ (4,026,297)	$ (816,747)
Income (Loss) per share - basic	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)
Basic and diluted weighted average number of common shares	412,183,602	39,530,168	227,268,578	39,095,873

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (4,026,297)	$ (816,747)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization of debt discount	405,278	0
Depreciation	31,751	30,471
Gain on extinguishment of liabilities	0	(391,306)
Derivative expenses	194,401	0
Change in fair value of derivative liability	116,080	0
Provision (recovery) for bad debts	11,796	1,636,142
Issuance of shares for unpaid compensation (included related amounts of $2,572,500 for 2015)	2,598,959	0
Non - cash interest	70,872	0
Settlement of legal suit	4,750	(5,890)
Stock for Avant guarantee	0	74,140
Stock paid for services	57,275	42,285
Issuance of shares for debt conversion	0	0
Warrants issued for services	247,823	0
Changes in operating assets and liabilities
Inc/dec Accounts receivable	(23,266)	(1,402,922)
Inc/dec Inventory	(81,534)	(115,920)
Inc/dec in prepaids	40,750	133,940
Inc/dec in deposits	0	18,924
Inc/dec accounts payable and accrued liabilities	123,575	400,230
Inc/dec bank overdraft	27,693	0
Inc/dec due to related parties	0	(19,101)
Inc/dec customer deposits	(18,143)	134,506
Net cash used by operating activities	(218,237)	(281,249)
Cash flows from investing activities:
Cash paid for purchase of fixed assets	(11,262)	(137,393)
Net cash used by investing activities	(11,262)	(137,393)
Cash flows from financing activities:
Proceeds from loans, net	140,000	114,730
Repayment of notes payable	(31,838)	(26,960)
Issuance of shares on warrant exercise	25,000	0
Proceeds from issuance of common stock	73,750	60,000
Net cash provided by financing activities	206,912	147,770
Net increase (decrease) in cash	(22,587)	(270,872)
Cash, beginning of period	22,587	290,659
Cash, end of period	0	19,787
Supplemental cash flow information:
Cash paid for interest	66,890	57,581
Cash paid for income taxes	0	0
Noncash Transaction:
Reciprocal shareholdings	0	1,550,001
Conversion of notes and accrued interest to equity	669,245	34,562
Beneficial conversion feature - notes payable	$ 132,993	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash	$ 0	$ 22,587
Accounts receivable	209,664	198,195
Inventory	545,726	464,192
Prepaid expenses	0	40,750
Total current assets	755,390	725,724
Property and equipment, net	154,176	174,665
Deposits	100,000	100,000
Total assets	1,009,566	1,000,389
Current liabilities:
Bank overdraft	27,693	0
Accounts payable and accrued liabilities	6,080,530	5,993,522
Derivative liability	716,713	273,239
Customer deposits	133,522	151,665
Notes payables, current portion including related parties	896,805	1,078,167
Total current liabilities	7,855,263	7,496,593
Notes payable, long term	0	0
Total liabilities	$ 7,855,263	$ 7,496,593
Commitments and contingencies
Stockholders' Deficit
Common stock, $0.001 par value, voting, 960,000,000 and 480,000,000 shares authorized, 472,951,421 and 54,691,581 issued and outstanding	$ 472,760	$ 54,500
Additional paid-in capital	26,269,307	23,012,265
Accumulated deficit	(32,039,372)	(28,013,077)
Reciprocal shareholdings	(1,550,001)	(1,550,001)
Total stockholders' deficit	(6,845,697)	(6,496,204)
Total liabilities and stockholders' deficit	1,009,566	1,000,389
Preferred Class A
Stockholders' Deficit
Preferred stock, $0.001 par value; 20,000,000 shares authorized;	22	22
Preferred Class C
Stockholders' Deficit
Preferred stock, $0.001 par value; 20,000,000 shares authorized;	$ 1,587	$ 87