Dewmar International BMC, Inc.

CIK:0001269879|SEC Filings

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
Consolidated Statements of Operations - USD ($)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement
Revenues, net	$ 234,468	$ 46,259	$ 457,778	$ 222,342
Related party revenue		5,379	21,924	9,984
Cost of goods sold	68,734	14,409	207,126	89,138
Gross profit	165,734	37,229	272,576	143,188
Operating expenses
Occupancy and related expenses	8,999	8,613	28,248	34,867
Marketing and advertising	8,639	18,565	17,526	34,527
General and administrative	217,367	205,715	1,281,143	1,516,618
Contract labor	14,266	23,235	36,661	111,003
Total operating expenses	249,271	256,128	1,363,578	1,697,015
Loss from operations	(83,537)	(218,899)	(1,091,002)	(1,553,827)
Other income (expenses)
Interest expense	19,380	70,827	85,687	195,227
Gain (loss) on derivative liability	128,318	(50,574)	(151,349)	(157,254)
Total other income (expense)	108,938	(121,401)	(237,036)	(352,481)
Net income (loss)	$ 25,401	$ (340,300)	$ (1,328,038)	$ (1,906,308)
Net income (loss) per common share - basic and diluted	$ 0.00	$ 0.00	$ 0.00	$ (0.01)
Weighted average common shares outstanding - basic	2,802,060,227	518,813,217	2,749,415,353	279,513,432
Weighted average common shares outstanding - diluted	2,918,213,560	518,813,217	2,749,415,353	279,513,432

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities
Net income (loss)	$ (1,328,038)	$ (1,906,308)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation expense	5,663	3,753
Stock-based compensation	993,000	932,451
Amortization of debt discount	75,976	174,120
Gain (loss) on derivative liability	(151,349)	(157,254)
Changes in operating assets and liabilities:
Accounts receivable	(187,955)	5,184
Related party receivables and payables	(7,974)	2,648
Inventory	(25,409)	17,649
Prepaid expenses and other current assets	6,000	1,700
Accounts payable and accrued liabilities	29,107	405,690
Net cash used in operating activities	(288,281)	(205,859)
Cash flows from investing activities
Purchase of fixed assets		19,900
Net cash used in investing activities		(19,900)
Cash flows from financing activities
Proceeds from notes payable		199,320
Proceeds from issuance of common stock	303,620
Net cash provided by (used in) financing activities	303,620	199,320
Net change in cash and cash equivalents	15,339	(26,439)
Cash and cash equivalents, at beginning of period	7,231	38,388
Cash and cash equivalents, at end of period	22,570	11,949
Supplemental cash flow information
Interest paid	3,692	10,709
Income taxes paid
Supplemental noncash investing and financing activities
Issuance of common stock for conversions of notes payable	47,360	230,250
Reclassification of accounts payable to notes payable		334,661
Creation of debt discount		182,796
Reduction in derivative liability due to conversions of notes payable	$ 89,641	302,044
Reduction in common stock payable for issuance of common stock		$ 199,193

Consolidated Balance Sheets - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Current Assets
Cash and cash equivalents	$ 22,570	$ 7,231
Accounts receivable, net	197,487	9,532
Related party receivable	12,059	4,085
Advances to related party	9,332	9,332
Inventory	60,553	35,144
Prepaid expenses and other current assets		6,000
Total Current Assets	302,001	71,324
Property and equipment, net	21,182	26,845
Total Assets	323,183	98,169
Current Liabilities
Accounts payable and accrued liabilities	737,909	714,868
Accrued interest	14,073	9,707
Notes payable	173,890	173,890
Convertible notes payable, net	153,066	122,750
Derivative liability	212,828	151,120
Total Current Liabilities	1,291,766	1,172,335
Total Liabilities	1,291,766	1,172,335
Commitments and Contingencies
Stockholders' Deficit
Preferred stock value	50,000	50,000
Common stock value	2,759,546	2,310,493
Additional paid-in capital	4,354,763	3,370,195
Accumulated deficit	(8,132,892)	(6,804,854)
Total Stockholders' Deficit	(968,583)	(1,074,166)
Total Liabilities and Stockholders' Deficit	$ 323,183	$ 98,169