All Energy Corp

CIK:0001103384|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) - USD ($)	3 Months Ended		118 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
REVENUES
Revenues	$ 0	$ 0	$ 8,092
Operating Costs and Expenses
Consulting	222,187	9,677	8,320,848
Legal and professional	25,233	43,023	1,692,496
Impairment charge	0	0	333,540
Depreciation and amortization	247	0	9,566
General and administrative	96,324	150,079	3,449,340
Total operating expenses	343,991	202,779	13,805,790
Other income (expense)
Beneficial conversion expense	0	0	(171,000)
Interest expense	(10,742)	(2,063)	(165,073)
Interest income	0	0	51,404
Rental income	0	0	66,250
Loss on sale of investment	0	0	(131,650)
Loss on sale of land	0	0	(1,278)
Forgiveness of debt	0	409,405	507,236
Convertible debt/warrant expense	0	0	(151,734)
Equity loss in subsidiary	0	0	(233,340)
Other income	0	346,667	556,674
Total other income (expense)	(10,742)	754,009	327,489
Net income (loss) from continuing operations	(354,733)	551,230	(13,470,209)
Net income (loss) from discontinued operations	(2,776)	(4,124)	(441,655)
Net income (loss)	$ (357,509)	$ 547,106	$ (13,911,864)
Income (loss) per share from continuing operations
Basic	$ (0.02)	$ 0.02	$ 0.00
Diluted	(0.02)	0.02	0.00
Loss per share from discontinued operations
Basic	0.00	0.00	0.00
Diluted	$ 0.00	$ 0.00	$ 0.00
Weighted average number of shares outstanding:
Basic	24,914,367	22,887,413	0
Diluted	32,014,367	22,887,413	0

CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) - USD ($)	3 Months Ended		118 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (357,509)	$ 547,106	$ (13,911,864)
Adjustments to reconcile net loss to cash used for operating activities:
Loss on sale of land	0	0	1,278
Loss on disposition of fixed assets	0	0	187
Depreciation and amortization	2,896	2,583	21,593
Forgiveness of debt	0	(409,405)	(507,236)
Equity loss on subsidiary	0	0	14,485
Non-cash beneficial conversion expense	0	0	171,000
Options issued for compensation	0	0	7,039,096
Stock issued for services and compensation	3,185	12,894	1,639,425
Debt discount amortization	438	0	152,172
Loss on investment	0	0	125,000
Impairment charge	21,248	13,890	640,620
Increase in accrued expenses	67,865	144,876	349,205
Decrease (increase) in prepaids	0	0	(87,820)
Increase (decrease) in accounts payable	(14,566)	(47,066)	1,072,124
Net cash provided by (used in) operating activities	(276,443)	264,878	(3,280,735)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of land	0	0	(956,238)
Investment in Treaty Energy Belize LTD.	0	0	(125,000)
Investment in oil and gas property	(23,897)	(36,278)	(594,107)
Increase in accrued liabilities - related party	0	0	40,056
Proceeds from sale of land	0	0	461,960
Purchase of office equipment	0	0	(4,160)
Payments on construction-in-progress	0	0	(193,720)
Net cash used for investing activities	(23,897)	(36,278)	(1,371,209)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock for cash	0	0	2,909,523
Principal payments on related party advances	0	0	(3,988)
Proceeds from notes payable - third party	300,000	0	1,323,700
Proceeds from (payments on) notes payable - related party	0	0	179,800
Payments on notes payable - related party	(17,000)	(5,500)	(84,500)
Proceeds from long-term debt, net of deferred borrowing costs	0	0	483,120
Purchase of treasury stock	0	0	(150,000)
Contributions from shareholders	0	0	950
Net cash provided by (used in) financing activities	283,000	(5,500)	4,658,605
NET CHANGE IN CASH	(17,340)	223,100	6,661
Cash, beginning of period	27,989	13,649	3,988
Cash, end of period	$ 10,649	$ 236,749	$ 10,649

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$ 10,649	$ 27,989
Total current assets	10,649	27,989
Assets held for sale	275,000	275,000
Property and equipment - at cost
Equipment	8,333	8,333
Less accumulated depreciation and amortization	(3,640)	(3,393)
Total property and equipment - net	4,693	4,940
Total assets	290,342	307,929
Current liabilities
Accounts payable and accrued expenses	114,249	133,790
Accrued expenses - related party	708,075	635,235
Notes payable and convertible notes, net of unamortized discount of $7,563	667,438	375,000
Notes payable - related parties	104,800	121,800
Liabilities related to assets held for sale	50,000	50,000
Total current liabilities	1,644,562	1,315,825
Stockholders' equity (deficit)
Preferred stock, $.01 par value; 20,000,000 shares authorized, -0- and -0- shares issued and outstanding	0	0
Common stock, $.01 par value; 80,000,000 shares authorized, 25,133,563 and 24,727,413 shares issued, respectively, and 24,992,563 and 24,586,413 shares outstanding, respectively	251,336	247,274
Additional paid-in capital	18,217,483	18,210,360
Treasury stock, at cost; 141,000 and 141,000 shares, respectively	(150,000)	(150,000)
Receivable from shareholder	(50,000)	(50,000)
Accumulated deficit	(6,423,944)	(6,423,944)
Deficit accumulated during the development stage	(13,199,095)	(12,841,586)
Total stockholders' equity (deficit)	(1,354,220)	(1,007,896)
Total liabilities and stockholders' equity (deficit)	$ 290,342	$ 307,929