COMCAM INTERNATIONAL INC

CIK:0001118761|SEC Filings

COMCAM INTERNATIONAL INC UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues:
Revenues, net	$ 384,592	$ 1,028,863	$ 2,759,693	$ 2,527,387
Cost of revenues	292,342	615,382	2,023,840	1,582,110
Gross profit	92,250	413,481	735,853	945,277
Operating Expenses:
General and administrative expenses	501,183	408,250	2,068,691	1,956,096
Research and development expenses	2,285	1,862	5,220	7,837
Loss from operations	(411,218)	3,369	(1,338,058)	(1,018,656)
Interest income	178	97	784	667
Interest expense	(37,169)	(20,597)	(98,515)	(74,534)
Debt extinguishment income	0	0	0	13,725
Loss before provision for income taxes	(448,209)	(17,131)	(1,435,789)	(1,078,798)
Benefit for income taxes: deferred	32,000	0	44,000	0
Net Income (Loss)	$ (480,209)	$ (17,131)	$ (1,479,789)	$ (1,078,798)
Loss per common share: basic and diluted	$ (0.03)	$ 0.00	$ (0.09)	$ (0.10)
Weighted Average Number of Shares Outstanding, Basic and diluted	16,512,255	12,717,509	15,811,523	10,537,403

COMCAM INTERNATIONAL INC UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Net Cash Provided by (Used in) Operating Activities:
Net Income (Loss)	$ (1,479,789)	$ (1,078,798)
Adjustments to Reconcile Income (Loss) to Net Cash Provided by (Used in) Continuing Operations
Common stock issued for services	118,390	390,000
Stock, options and warrants compensation expense	550,830	0
Depreciation and amortization	185,578	321,741
Loss on disposal of assets	0	10,449
Allowance for losses on receivables, net	13,600	0
Accounts receivable	444,719	517,368
Prepaid expenses	6,001	(5,930)
Costs and estimated earnings in excess of billings on uncompleted contracts	175	(78,188)
Other assets	(148,380)	(13,590)
Accounts payable	(71,086)	(142,275)
Accrued expenses	212,498	121,708
Billings in excess of costs and estimated earnings on uncompleted contracts	(178,986)	(51,620)
Net cash provided by operating activities	(346,450)	(9,135)
Net Cash Provided by (Used in) investing Activities:
Payments received on note receivable	0	36,667
Purchase on intangible assets	(42,734)	0
Purchase of property and equipment	(29,849)	(98,347)
Net cash provided by investing activities	(72,583)	(61,680)
Net Cash Provided by (Used in) financing Activities:
Payments on related party payable	0	(36,667)
Payments on long-term debt	(415,000)	(158,350)
Proceeds from issuance of debt	50,000	0
Proceeds from issuance of common stock	368,251	776,500
Net cash provided by financing activities	453,251	581,483
Increase in cash and cash equivalents	34,218	510,688
CASH - BEGINNING OF PERIOD	517,493	217,783
CASH - END OF PERIOD	$ 551,711	$ 728,451

COMCAM INTERNATIONAL INC CONSOLIDATED BALANCE SHEETS (USD $)

Sep. 30, 2011

Dec. 31, 2010

Assets, Current:

Cash and cash equivalent investments

$ 551,711

$ 517,493

Accounts receivable

378,023

836,342

Costs and estimated earnings in excess of billings on uncompleted contracts

114,652

114,827

Prepaid expenses

5,711

11,712

Assets, Current

1,050,097

1,480,374

Assets, Noncurrent:

Property and equipment net

148,739

157,263

Intangible assets net

345,138

447,389

Other assets

172,306

23,926

Assets

1,716,280

2,108,952

Liabilities, Current:

Accounts payable

310,068

381,153

Accrued expenses

172,749

123,140

Billings in excess of costs and estimated earnings on uncompleted contracts

208,937

387,923

Current portion of long-term debt

865,000

841,650

Liabilities, Current

1,556,754

1,733,866

Liabilities, Noncurrent:

Accrued expenses

166,300

176,000

Long-term debt net

222,128

641,568

Liabilities, Total:

1,945,182

2,551,434

Stockholders' Equity:

Preferred stock, Value

^[1]

Common stock, Value

1,653

^[2]

1,368

Additional Paid in Capital, Common Stock, Value

8,887,576

7,194,492

Accumulated deficit

(9,118,131)

(7,638,342)

Stockholders' Equity, Value

(228,902)

(442,482)

Liabilities and Stockholders' Equity

$ 1,716,280

$ 2,108,952

[1]	$.0001 par value; 2,000,000 shares authorized, no shares issued and outstanding
[2]	$.0001 par value; 100,000,000 shares authorized, 16,288,312 and 13,684,312 shares issued and outstanding, respectively