INOLIFE TECHNOLOGIES, INC.

CIK:0001297965|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements Of Operations
Revenues
Operating Expenses
Professional fees	27,900us-gaap_ProfessionalFees	30,993us-gaap_ProfessionalFees	145,800us-gaap_ProfessionalFees	1,955,895us-gaap_ProfessionalFees
Management expenses	77,500us-gaap_ManagementFeeExpense	122,174us-gaap_ManagementFeeExpense	543,050us-gaap_ManagementFeeExpense	414,174us-gaap_ManagementFeeExpense
Selling, general and administrative expense	10,129us-gaap_GeneralAndAdministrativeExpense	8,541us-gaap_GeneralAndAdministrativeExpense	22,279us-gaap_GeneralAndAdministrativeExpense	46,293us-gaap_GeneralAndAdministrativeExpense
Total operating expenses	115,529us-gaap_CostsAndExpenses	161,708us-gaap_CostsAndExpenses	711,129us-gaap_CostsAndExpenses	2,416,362us-gaap_CostsAndExpenses
Net loss from operations	(115,529)us-gaap_OperatingIncomeLoss	(161,708)us-gaap_OperatingIncomeLoss	(711,129)us-gaap_OperatingIncomeLoss	(2,416,362)us-gaap_OperatingIncomeLoss
Other income (expenses)
Interest expense	(9,465)us-gaap_InterestExpense	(9,465)us-gaap_InterestExpense	(28,394)us-gaap_InterestExpense	(68,291)us-gaap_InterestExpense
Gain on debt forgiveness				11,757
Other Income				14,211us-gaap_OtherNonoperatingIncome
Change in fair value of derivative				137,344
Total other income (expenses)	(9,465)us-gaap_NonoperatingIncomeExpense	(9,465)us-gaap_NonoperatingIncomeExpense	(28,394)us-gaap_NonoperatingIncomeExpense	95,021us-gaap_NonoperatingIncomeExpense
Loss before provision for taxes	(124,993)	(171,173)	(739,523)	(2,321,341)
Provision for income taxes
Net loss	$ (124,993)us-gaap_NetIncomeLoss	$ (171,173)us-gaap_NetIncomeLoss	$ (739,523)us-gaap_NetIncomeLoss	$ (2,321,341)us-gaap_NetIncomeLoss
Basic and diluted loss per share	$ 0.00us-gaap_EarningsPerShareBasic	$ 0.00us-gaap_EarningsPerShareBasic	$ 0.00us-gaap_EarningsPerShareBasic	$ 0.00us-gaap_EarningsPerShareBasic
Weighted average number of shares outstanding	559,270,652	208,449,642	515,583,405	217,639,067

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (739,523)us-gaap_NetIncomeLoss	$ (2,321,341)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Change in fair value of derivative		(137,344)INOL_ChangeInFairValueOfDerivative
Gain on debt forgiveness		(11,757)
Common stock issued in exchange for services	487,110	1,845,922
Beneficial conversion feature related to issuance of convertible debentures		20,000
Changes in assets and liabilities:
(Increase) Decrease in prepaid expense		53,750
Increase (Decrease) in accounts payable	(1,658)	37,061
Increase(Decrease) in accrued liabilities	(141,357)	48,771
Increase(Decrease) in Management fess	367,135INOL_IncreasedecreaseInManagementFess	418,715INOL_IncreasedecreaseInManagementFess
Increase(Decrease) in note payable to related parties		14,797
Increase(Decrease) in accrued interest	28,394	31,569
Net Cash Generated in Operating Activities	100	143
CASH FLOWS PROVIDED BY (USED FOR) INVESTING ACTIVITIES :
Net Cash Used in Investing Activities
CASH FLOWS PROVIDED BY (USED FOR) FINANCING ACTIVITIES:
Net Cash Provided by (Used for) Financing Activities
NET INCREASE (DECREASE) IN CASH	100	143
CASH AT BEGINNING OF PERIOD	3us-gaap_Cash
CASH AT END OF PERIOD	103us-gaap_Cash	143us-gaap_Cash
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash Paid for interest
Cash Paid for taxes
Common Stock issued for services	487,110INOL_CommonStockIssuedForServices	1,845,922INOL_CommonStockIssuedForServices
Common Stock issued upon conversion		$ 54,000INOL_CommonStockIssuedUponConversion

FINANCIAL CONDITION AND GOING CONCERN	9 Months Ended
Dec. 31, 2014
Notes to Financial Statements
Note 6 - FINANCIAL CONDITION AND GOING CONCERN	The Company has minimal operations and has negative working capital at December 31, 2014. Due to the limited operating history and limited operations, the Company will require additional working capital to survive. The Company is currently working on completing and going live with their website, through which they will market their products. The first products to be marketed will be the Stemtide Anti-Aging Products Line. Management expects revenue on these products to begin being recognized during the first quarter of fiscal 2015. If the funds the Company has are not sufficient, it will also consider bank loans and additional shareholder loans. There are no assurances that the Company will be able to obtain any of these. No assurance can be given that additional financing will be available, or will be available, will be on terms acceptable to the Company. If adequate working capital cannot be generated, the Company may not be able to continue its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be able to continue as a going concern.

FINANCIAL CONDITION AND GOING CONCERN

9 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Note 6 - FINANCIAL CONDITION AND GOING CONCERN

The Company has minimal operations and has negative working capital at December 31, 2014. Due to the limited operating history and limited operations, the Company will require additional working capital to survive. The Company is currently working on completing and going live with their website, through which they will market their products. The first products to be marketed will be the Stemtide Anti-Aging Products Line. Management expects revenue on these products to begin being recognized during the first quarter of fiscal 2015. If the funds the Company has are not sufficient, it will also consider bank loans and additional shareholder loans. There are no assurances that the Company will be able to obtain any of these. No assurance can be given that additional financing will be available, or will be available, will be on terms acceptable to the Company. If adequate working capital cannot be generated, the Company may not be able to continue its operations.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be able to continue as a going concern.