InterAmerican Gaming, Inc.

CIK:0001125053|SEC Filings

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended		26 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012
Income Statement [Abstract]
Revenues
Expenses
General and administrative	25,458	806	51,598	818	62,149
Management fees – related party	63,701		102,797		102,797
Consulting fees	37,779		54,069		54,069
Director fees	31,500		47,500		47,500
Research and Development	60,037	3,806	62,728	3,806	76,265
Loss on acquisition			875,541		875,541
Total Expenses	218,475	4,612	1,194,233	4,624	1,218,321
Net (loss) before other expenses	(218,475)	(4,612)	(1,194,233)	(4,624)	(1,218,321)
Other (expense) income:
Foreign currency gain (Loss)	904		(3,438)		(3,438)
Total other income	904		(3,438)		(3,438)
Net (loss)	(217,571)	(4,612)	(1,197,671)	(4,624)	(1,221,759)
Net (loss) attributable to non-controlling interest	34,637		(48,938)		(48,938)
Net (Loss) attributable to InterAmerican	(217,571)	(4,612)	(1,148,733)	(4,624)	(1,172,821)
Net Loss per share, basic and diluted	$ (0.001)	$ (0.005)	$ (0.007)	$ (0.005)
Weighted Average Number of Common Shares Outstanding During the Year – basic and diluted	160,317,851	936,757	164,421,568	936,757
Comprehensive (Loss):
Net (Loss)	(217,571)	(4,612)	(1,197,671)	(4,624)	(1,221,759)
Foreign exchange translation adjustment for the period	(2,809)	135	(2,814)	135	(3,747)
Comprehensive (loss)	(220,380)	(4,477)	(1,200,485)	(4,489)	(1,225,506)
Comprehensive (loss) attributable to non-controlling interest	(35,197)		(49,498)		(49,684)
Comprehensive (Loss) attributable to InterAmerican	$ (185,183)	$ (4,477)	$ (1,150,987)	$ (4,489)	$ (1,175,822)

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		26 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012
Operating activities
Net (loss)	$ (1,197,671)	$ (4,624)	$ (1,221,759)
Adjustments to reconcile net loss to net cash:
Loss on acquisition	875,541		875,541
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable	60,353	625	68,992
Increase (decrease) in deposits	(4,559)		(4,559)
Increase (decrease) in related party payables	135,441	(9,221)	135,441
Increase (decrease) in HST receivable	(5,025)	(496)	(6,477)
Net cash (used in) operating activities	(135,920)	(13,716)	(152,821)
Financing activities
Bank overdraft	(3)
Advances (to) from related parties			(19,815)
Proceeds from stock subscriptions	218,000	13,651	218,000
Proceeds from issuance of shares			37,646
Net cash provided by financing activities	217,997	13,651	235,831
Effect of foreign exchange (loss)	(2,814)	135	(3,747)
Increase in cash and cash equivalents	79,263	70	79,263
Cash and cash equivalents, beginning of year		31
Cash and cash equivalents, end of year	79,263	101	79,263
Supplemental information
Interest paid
Income tax paid

Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2012	Sep. 30, 2011
Assets
Cash	$ 79,263
Deposits	4,559
HST receivable	6,476	1,452
Due from related parties (Note 4)	18,635	19,815
Total current assets	108,933	21,267
Total assets	108,933	21,267
LIABILITIES
Bank overdraft		3
Due to related parties (Note 4)	155,392
Accounts payable	292,425	8,639
Total current liabilities	447,817	8,642
Total liabilities	447,817	8,642
STOCKHOLDERS’ (DEFICIT) EQUITY
Common stock, $0.00001 par value, 200,000,000 shares authorized, 145,668,234 shares issued and outstanding (September 30, 2011: 1,000,000) (Note 7)	1,456	10
Additional paid-in capital	71,937	38,515
Subscription receivable		(879)
Shares to be issued (25,516,667) ( (Note 6)	815,741
Deficit accumulated during the development stage	(1,172,821)	(24,088)
Accumulated other comprehensive (loss)	(3,747)	(933)
Total InterAmerican stockholders’(deficit) equity	(287,434)	12,625
Non-controlling interest	(51,450)
Total (deficit) equity	(338,884)	12,625
Total liabilities and (deficit) equity	$ 108,933	$ 21,267