Todays Alternative Energy Corp

CIK:0001128581|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended		57 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2012
Expenses:
General and administrative expenses	$ 14,617	$ 127,239	$ 210,189	$ 372,547	$ 2,182,994
Total expenses	14,617	127,239	210,189	372,547	2,182,994
Loss from operations	(14,617)	(127,239)	(210,189)	(372,547)	(2,182,994)
Other expenses:
Loss on Settlement	(53,578)		(53,578)		(53,578)
Interest expense	(58,208)	(45,553)	(156,291)	(191,944)	(1,244,827)
Total other expenses	(111,786)	(45,553)	(209,869)	(191,944)	(1,298,405)
Net loss before provision for income taxes	(126,403)	(172,792)	(420,058)	(564,491)	(3,481,399)
Provision for income taxes
Net loss	$ (126,403)	$ (172,792)	$ (420,058)	$ (564,491)	$ (3,481,399)
Net loss per weighted average share - basic and diluted		$ (0.05)	$ (0.01)	$ (0.20)
Weighted average number of shares - basic and diluted	28,132,081	3,579,908	28,028,614	2,879,690

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended		57 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (420,058)	$ (564,491)	$ (3,481,399)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			3,570
Loss on disposition of fixed assets			3,320
Beneficial conversion feature expense	54,523	99,132	712,033
Loss on Legal Settlement	53,578		53,578
Shares issued for services rendered		95,111	598,534
Shares issued for legal settlement			92,000
Shares to be issued for officer's compensation			1
Shares issued for interest payment			68,250
Write off of other assets	49,000		49,000
Changes in operating assets and liabilities:
Prepaid expenses		1,463	2,000
Other assets		(49,000)	(49,000)
Increase in due to officer
Accounts payable and accrued expenses	68,036	153,335	789,129
Legal settlement payable	87,500		87,500
Net cash used in operating activities	(107,421)	(264,450)	(1,071,484)
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from advance payable	23,500	87,500	134,500
Proceeds from notes payable	10,000	174,500	901,194
Proceeds from sale of stock	50,000		100,000
Payments of notes payable	(20,000)		(68,922)
Net cash provided by financing activities	63,500	262,000	1,066,772
Net (decrease) increase in cash and cash equivalents	(43,921)	(2,450)	(4,712)
Cash and cash equivalents - beginning of period	44,245	4,446	5,036
Cash and cash equivalents - end of period	324	1,996	324
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid
Income taxes paid
NON CASH INVESTING AND FINANCING ACTIVITIES:
Contribution of accrued salaries by former officers			394,679
Common stock issued for services to be rendered			2,500
Exchange of advances payable for convertible note payable	91,000		91,000
Accrued expenses forgiven by former officer			1,666
Debt converted to equity	$ 1,315	$ 7,550	$ 175,185

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Jul. 31, 2012	Oct. 31, 2011
Current assets:
Cash and cash equivalents	$ 324	$ 44,245
Stock subscription receivable		50,000
Total current assets	324	94,245
Other assets:
Security deposit		7,478
Other deposit		41,522
Total other assets		49,000
Total assets	324	143,245
Current liabilities:
Accounts payable and accrued expenses	1,240,524	1,118,910
Advances payable	23,500	111,000
Legal settlement payable	87,500
Convertible notes payable (net of debt discount of $34,195 and $0 as of July 31, 2012 and October 31, 2011, respectively)	1,494,350	1,429,965
Total current liabilities	2,845,874	2,659,875
Long term portion of convertible notes payable (net of debt discount of $74,047 and $61,765 as of July 31, 2012 and October 31, 2011, respectively)	26,953	38,130
Total liabilities	2,872,827	2,698,005
Stockholders' deficit:
Preferred stock, $0.00001 par value, 10,000,000 shares authorized,10,000 shares of Series A issued and outstanding as of July 31, 2012 and October 31, 2011 and 69,000 shares of Series B	1	1
Common stock, $0.00001 par value, 1,000,000,000 shares authorized, 28,132,026 and 25,782,081 shares issued and outstanding as of July 31, 2012 and October 31, 2011, respectively	281	258
Common stock to be issued	1	1
Additional paid-in capital	8,116,934	8,014,642
Deficit accumulated from November 1, 2007 (inception of development stage)	(3,481,399)	(3,061,341)
Accumulated deficit	(7,508,321)	(7,508,321)
Total stockholders' deficit	(2,872,503)	(2,554,760)
Total liabilities and stockholders' deficit	$ 324	$ 143,245