SafeBrain Systems, Inc.

CIK:0001271073|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended		6 Months Ended		125 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014
Consolidated Statements Of Operations
Revenues
Expenses
Consulting Expense	71,477	20,439	170,800	40,531	1,256,763
Professional fees	61,972	49,489	131,899	58,269	463,773
Office and Administrative	29,580	7,329	49,469	9,095	323,012
Travel and vehicle	7,228	18,233	12,091	20,005	137,303
Foreign currency translation					2,766
Total Operating Expenses	170,257	95,490	364,259	127,900	2,183,617
Other income (expense):
Loss on debt conversion		63,000		63,000	63,000
Impairment					900,000
Interest	29,197	12,232	56,263	23,745	199,243
Loss from continuing operations	29,197	75,232	56,263	86,745	1,162,243
Net Loss	199,454	170,722	420,522	214,645	3,345,860
Loss from Discontinued Operations					589,900
Adjusted Net Loss	$ (199,454)	$ (170,722)	$ (420,522)	$ (214,645)	$ (3,935,760)
Loss Per Common Share - Basic and Diluted - Continuing Operations	$ 0.00	$ 0.00	$ (0.01)	$ 0.00
Loss Per Common Share - Basic and Diluted - Discontinued Operations
Loss Per Common Share - Basic and Diluted - Total	$ 0.00	$ 0.00	$ (0.01)	$ 0.00
Weighted average number of shares outstanding during the periods basic and diluted	65,597,988	63,583,258	65,594,305	63,583,258

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)	6 Months Ended		125 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014
Cash Flows from Operating Activities
Net (loss) earnings	$ (420,522)	$ (214,645)	$ (3,935,760)
Adjustments to reconcile net loss to net cash used by Operating Activities:
Common stock issued for services			30,000
Loss on conversion of debt		63,000	63,000
Impairment expense			900,000
Imputed interest	16,915		17,284
Interest accrued on convertible note			5,851
Loss on discontinued operations			545,964
Repayment in excess of lending			5,000
Changes in operating assets and liabilities:
Other receivable	(5,819)	(1,140)	(10,329)
Bank overdraft	17,316		17,316
Accounts payable and accrued liabilities	106,656	27,088	603,987
Payable to vendor on assets acquisition			(300,000)
Net cash used in continuing operating activities	(285,454)	(125,697)	(2,057,687)
Net cash used in discontinued operating activities			(44,206)
Cash flows used in operating activities	(285,454)	(125,697)	(2,101,893)
Cash Flows from Investing Activities
Acquisition of assets			(600,000)
Discontinued investing activities			(501,758)
Cash used for investing activities			(1,101,758)
Cash Flows from Financing Activities
Proceeds from convertible note			6,000
Repayment of note			(338,640)
Proceeds from sale of common stock	25,000		1,827,151
Advances from related party	376,028	176,383	2,036,551
Principal payments in debt from related party	(143,428)	(44,835)	(360,913)
Stockholder contributions			37,199
Net cash used in continuing financing activities	257,600	131,548	3,207,348
Net cash provided by discontinued financing activities			(9,721)
Cash flows provided by financing activities	257,600	131,548	3,197,627
FX Currency Translation	3,065		6,024
Net (Decrease) Increase in Cash	24,789	5,851
Cash and Cash Equivalents beginning of period	24,789	2,103
Cash and Cash Equivalents end of period		7,954
NON-CASH ACTIVITIES
Forgiveness of Related Party Debt	40,607		223,079
Accrued interest waived by related party	$ 149,468		$ 149,468

CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 30, 2014	Oct. 31, 2013 Restated [Member]
Current Assets:
Cash and cash equivalents		$ 0
Other assets	10,329	4,510
Total Current Assets	10,329	29,299
Total Assets	10,329	29,299
Current Liabilities:
Payable to vendor on asset acquisition	300,000	300,000
Accounts payable and accrued liabilities	173,551	200,469
Related party note	693,117	499,702
Liabilities from Discontinued Operations	414,699	414,699
Total Current Liabilities	1,581,367	1,414,870
Total Liabilities	1,581,367	1,414,870
STOCKHOLDERS' DEFICIT
Capital stock - $.001 par value, 100,000,000 common shares authorized, 65,597,988 and 65,431,321 common shares outstanding as of April 30, 2014 and October 31, 2013 respectively	65,598	65,431
Additional paid in capital	2,293,100	2,061,277
Other comprehensive income	6,024	2,959
Deficit accumulated during the development stage	(3,935,760)	(3,515,238)
Total Stockholders' Deficit	(1,571,038)	(1,385,571)
Total Liabilities and Total Stockholders' Deficit	$ 10,329	$ 29,299