2-Track Global, Inc.

CIK:0001174290|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Statement [Abstract]
Net sales				$ 76,902
Cost of sales				41,768
Gross profit				35,134
Operating expenses:
Selling, general and administrative, including legal and audit fees of $17,847 in both of the 2012 periods	17,976	20,793	18,735	37,321
Depreciation of property and equipment	122		366
Total operating expenses	18,098	20,793	19,101	37,321
Loss from operations	(18,098)	(20,793)	(19,101)	(2,187)
Other income (expenses)
Gain from settlement of legal fees in connection with change in control	28,620		28,620
Interest income
Interest expense, including accretion of debt discount of $543, $0, $543, and $0, respectively	(3,771)	(3,153)	(10,077)	(9,457)
Income (loss) before income taxes	6,752	(23,946)	(557)	(11,644)
Income taxes
Net income (loss)	6,752	(23,946)	(557)	(11,644)
Net loss per share - basic and diluted	$ 0.01	$ (0.03)	$ 0.00	$ (0.01)
Weighted average number of common shares used to compute net loss per share-basic and diluted	874,500	873,970	874,500	873,970
Comprehensive Income (Loss)
Net income (loss)	6,752	(23,946)	(557)	(11,644)
Foreign currency translation adjustment
Comprehensive income (loss)	$ 6,752	$ (23,946)	$ (557)	$ (11,644)

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash Flows from Operating Activities:
Net income (loss)	$ (557)	$ (11,644)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation of property and equipment	366
Stock-based compensation	497	6,348
Accretion of debt discount	543	0
Changes in operating assets and liabilities
Inventories		(3,510)
Accounts payable and accrued expenses payable	(841)	9,430
Net cash provided by operating activities	8	624
Cash Flows from Investing Activities:
Property and equipment additions		(2,440)
Intangible assets additions
Net cash used in investing activities		(2,440)
Cash Flows from Financing Activities:
Proceeds from loans payable		3,800
Net cash provided by financing activities		3,800
Increase in cash and cash equivalents	8	1,984
Cash and cash equivalents, beginning of period	170	58
Cash and cash equivalents, end of period	178	2,042
Supplemental disclosures of cash flow information
Interest paid
Income taxes paid
Schedule of non-cash financing activity:
Payment of Company legal and audit fees by parties to stock purchase agreements	50,000	10,000
Debt discount of $100,000 Convertible 6% Subordinated Promissory Note issued to Pacific, Inc.	$ 66,667

Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 178	$ 170
Prepaid expenses	75	75
Total Current Assets	253	245
Property and equipment, net of accumulated depreciation	1,952	2,318
Total Assets	2,205	2,563
Current Liabilities
Accounts payable and accrued expenses payable	1,226,894	1,277,735
Amounts due to related parties and former directors	1,394,237	1,394,237
Loans payable	339,681	405,805
Total Current Liabilities	2,960,812	3,077,777
Stockholders' Deficiency
Preferred stock, par value $0.001 per share; authorized 5,000,000 shares, none issued
Common stock, par value $0.001 per share; authorized 75,000,000 shares, issued and outstanding 874,500 and 874,500 shares, respectively	874	874
Additional paid-in capital	2,597,476	2,480,312
Accumulated deficit	(5,573,655)	(5,573,098)
Accumulated other comprehensive income	16,698	16,698
Total Stockholders' Deficiency	(2,958,607)	(3,075,214)
Total Liabilities & Stockholders' Deficiency	$ 2,205	$ 2,563