ST JOSEPH INC

CIK:0001177135|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES:
Contract
COST OF REVENUES
Gross Margin
COSTS AND EXPENSES:
General and Administrative Expenses	764	50,233	13,200	145,659
Payroll Expense		30,000	6,500	30,000
Total Costs and Expenses	764	80,233	19,700	175,659
Operating Loss	(764)	(80,233)	(19,700)	(175,659)
OTHER INCOME AND (EXPENSE):
Gain on Debt restructuring				85,402
Fees Recovered			50,000
Interest Expense	(2,826)		(20,933)
Net Other Income	(2,826)		29,067	85,402
Income (Loss) before provision for income taxes	(3,590)	(80,233)	9,367	(90,257)
Provision for income taxes
Net Income (Loss)	(3,590)	(80,233)	9,367	(90,257)
Income (loss) applicable to common stockholders	$ (3,590)	$ (80,233)	$ 9,367	$ (90,257)
Basic and diluted income (loss) per common share	$ 0.000	$ (0.007)	$ 0.001	$ (0.007)
Weighted average common shares outstanding	13,455,341	13,203,090	13,403,387	13,203,090

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES
Net loss	$ 9,367	$ (90,257)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Gain on debt restructuring		(85,402)
Changes in operating assets and liabilities:
(Increase)/decrease in accounts receivable
(Increase)/decrease in other assets		60,000
Increase/(decrease) in bank overdraft		1,567
Increase/(decrease) in accounts payable	(14,899)	20,403
Increase/(decrease) in accrued liabilities	18,288	33,459
Net cash used in operating activities	12,756	(60,221)
INVESTING ACTIVITIES
FINANCING ACTIVITIES
Proceeds from sale of common stock	15,000	77,500
Repayment of bank loan		(30,000)
Net cash provided by financing activities	15,000	47,500
INCREASE (DECREASE) IN CASH	27,756	(12,721)
CASH AT BEGINNING OF PERIOD		12,721
CASH AT END OF PERIOD	27,456
SUPPLEMENTAL INFORMATION:
Cash paid for income taxes
Cash paid for interest
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING INFORMATION:
Debt principal and interest converted to common stock

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash	$ 27,456
Accounts receivable, net of allowance for doubtful accounts of $2,208 and $2,208, respectively
Total current assets	27,456
Property and equipment, net of accumulated depreciation of $1,000 and $1,000, respectively
Total Assets	27,456	0
CURRENT LIABILITIES:
Accounts payable	476,495	489,820
Bank balance in excess		1,574
Accrued liabilities	219,774	202,353
Accrued preferred dividend	45,226	44,359
Notes payable:
Advance from officer	29,700	29,700
Loan from officer	45,000	45,000
Total current liabilities	816,195	812,806
Commitments and contingencies
STOCKHOLDERS’ DEFICIT:
Preferred stock, Series A; $0.001 par value, $3.00 face value; 25,000,000 shares authorized; 5,708 and 5,708 shares issued and outstanding, respectively	6	6
common stock, $0.001 par value; 100,000,000 shares authorized, 13,455,341 and 13,395,341 issued and outstanding, respectively	13,455	13,395
Additional paid-in capital	4,096,389	4,081,449
Retained deficit	(4,898,289)	(4,907,656)
Total stockholders’ deficit	(788,439)	(812,806)
Total Liabilities and Stockholders’ Deficit	$ 27,756	$ 0