BRAZIL GOLD CORP.

CIK:0001301075|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements Of Operations
DIGITAL CURRENCY ATM OPERATING REVENUES	$ 23,718
COST OF REVENUE
GROSS PROFIT	$ 23,718
OPERATING EXPENSES:
Consulting fees	72,000	$ 180,000
Rent Expense	46,748	46,991
Professional fees	268,155	152,599
Compensation	395,940	$ 219,281
Loss on investment in unconsolidated subsidiary	55,000
Loss on obsolete inventory	6,000
Loss on note receivable	12,000
General and administrative expenses	62,842	$ 129,712
Total operating expenses	918,685	728,583
LOSS FROM OPERATIONS	(894,967)	(728,583)
OTHER INCOME (EXPENSE):
Derivative expense	(198,494)	(356,780)
Interest expense	(302,107)	(483,444)
Gain/(Loss) on settlement of debt	84,786	$ (3,428,919)
Loss on 3a10 program	$ (12,388)
Loss on settlement from Liabilities Purchase Agreement		$ (56,728)
Expenses associated with Acquisiton of Conexus Cattle		$ (8,926,663)
Income Associated with Conversion feature of Preferred Stock	$ 1,390,456
Change in fair value of derivative liability	946,140	$ (957,077)
Other income (expense), net	1,908,393	(14,209,612)
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAX PROVISION	$ 1,013,426	$ (14,938,195)
INCOME TAX PROVISION
NET INCOME (LOSS)	$ 1,013,426	$ (14,938,195)
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST	(10,059)
DIVIDEND ON PREFERRED STOCK	(286,955)
NET INCOME (LOSS) APPLICABLE TO COMMON STOCKHOLDERS	$ 716,412	$ (14,938,195)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS - BASIC:	$ 0.15	$ (211.96)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS - DILUTED:	$ 0.000079	$ (211.96)
Weighted average common shares outstanding - BASIC:	4,717,173	70,476
Weighted average common shares outstanding - DILUTED:	7,092,000,234	70,476

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ 1,013,426	$ (14,938,195)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense	625	$ 192
Loss on investment in unconsolidated subsidiary	55,000
Loss on obsolete inventory	6,000
Loss on note receivable	12,000
Convertible notes issued for services	72,000	$ 242,000
Professional fees and accrued interest - note conversions	21,979
Preferred stock issued for services	51
Amortization of discount on convertible debt	$ 272,384	$ 443,303
Accretion of original issue discount		16,323
(Gain)/Loss on settlement of debt	$ (84,786)	3,428,919
(Gain)/Loss on settlement of accounts payable		$ 56,728
Loss on settlement of 3A(10) Program	$ 12,388
Expenses associated with Conexus Acquisition		$ 8,926,663
Income Associated with Conversion feature of Preferred Stock	$ (1,390,456)
Derivative expense	198,494	$ 356,780
Change in fair value of derivative liability	$ (946,140)	$ 957,077
Common stock issued for interest and expenses associated with interest
Changes in operating assets and liabilities:
Digital currencies	$ (3,895)
Notes Receivable		$ (12,000)
Inventory		(6,000)
Accounts payable	$ 564,866	183,523
Accrued Dividends payable		368,219
Accrued expenses	$ 190,859	72,442
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$ (5,205)	95,975
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in unconsolidated subsidiary		$ (55,000)
Purchases of property and equipment	$ (27,595)
NET CASH USED IN INVESTING ACTIVITIES	$ (27,595)	$ (55,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Amounts from (repayments to) related parties		$ 9,509
Proceeds from officer loans	$ 2,600
Proceeds from preferred stock	$ 35,000
Interest expense to related party		$ 1,918
Accrued Dividends forfeited on Series B and Series C Preferred stock		$ (368,219)
Proceeds from promissory notes	$ 2,965
Proceeds from convertible debentures	42,578	$ 345,609
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	83,143	(11,183)
NET CHANGE IN CASH	50,343	29,792
Cash at beginning of year	35,344	5,552
Cash at end of year	$ 85,687	$ 35,344
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid during the year for interest
Cash paid during the year for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued for settlement of convertible debentures	$ 263,816	$ 304,950
Common stock issued for settlement of liabilities	21,911
Preferred stock issued for the settlement of convertible debentures	175,959
Preferred stock issued for the settlement of liabilities	561,936
Preferred stock issued for acquisition of Bitcoin Direct LLC	$ 25,000
Preferred stock issued to officers		$ 4,898,534
Preferred stock issued to consultants		$ 2,637,534
Conversion of liabilities to convertible debentures	$ 25,500
Reclassification of derivative liabilities to equity	238,100
Retirements through 3a(10) program	9,522
Debt discount recorded on convertible debentures accounted for as a derivative liability	$ 128,778	$ 535,500
Debt discount recorded on convertible debt accounted for as a derivative liability - original issue discount		$ 16,323
Forfeiture of dividends accrued on Series B and Series C Preferred stock	$ 368,219

Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Jun. 30, 2014
CURRENT ASSETS:
Cash	$ 85,687	$ 35,344
Digital currencies	$ 3,895
Notes Receivable		$ 12,000
Inventory		6,000
Total Current Assets	$ 89,582	53,344
NON-CURRENT ASSETS
Invesment in unconsolidated subsidiary- at cost		$ 55,000
Property and Equipment, net	$ 41,970
License agreement	10,000
Total Non-current asets	51,970	$ 55,000
Total Assets	141,552	108,344
CURRENT LIABILITIES:
Accounts payable	280,369	299,351
Accrued expenses	$ 274,067	91,449
Accrued Dividends payable		368,219
Advances payable	$ 42,940	$ 42,940
Due to officer	2,600
Derivative liability	559,900	$ 1,662,416
Notes payable- Non-convertible	116,852	122,041
Convertible debentures, net	518,573	522,625
Total Current Liabilities	1,795,301	$ 3,109,042
LONG-TERM LIABILITIES:
Convertible debentures, net	$ 12,008
Liability for Conversion feature of Preferred Shares		$ 1,390,456
Total Long-Term Liabilities	$ 12,008	1,390,456
Total Liabilities	$ 1,807,309	4,499,498
STOCKHOLDERS' DEFICIT:
Preferred stock Series B, $0.001 par value, 8% dividend: 13,000 shares authorized; 0 and 13,000 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively. Liquidation Preference of $0 and $13,239,342 at June 30, 2015 and June 30, 2014, respectively		13
Preferred stock Series C, $0.001 par value, 8% dividend: 7,000 shares authorized; 7,000 and 7,000 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively. Liquidation Preference of $7,140,000 and $7,128,877 at June 30, 2015 and June 30, 2014, respectively	$ 7	$ 7
Preferred stock Series D, $0.001 par value, 8% dividend: 13,000 shares authorized; 13,000 and 0 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively. Liquidation Preference of $13,138,667 and $0 at June 30, 2015 and June 30, 2014, respectively	$ 13
Preferred stock Series E, $0.001 par value: 440 shares authorized; 440 and 0 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively. Liquidation Preference of $440,000 and $0 at June 30, 2015 and June 30, 2014, respectively
Preferred stock Series F, $0.001 par value: 51 shares authorized; 51 and 0 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively
Preferred stock Series G, $0.001 par value, 8% dividend: 1,500 shares authorized; 277 and 0 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively. Liquidation Preference of $279,955 and $0 at June 30, 2015 and June 30, 2014, respectively
Preferred stock Series H, $0.001 par value, 8% dividend: 500 shares authorized; 500 and 0 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively. Liquidation Preference of $505,333 and $0 at June 30, 2015 and June 30, 2014, respectively	$ 1
Common stock at $0.001 par value: 10,000,000,000 shares authorized; 21,119,572 and 731,742 shares issued and outstanding at June 30, 2015 and June 30, 2014, respectively	21,119	$ 732
Additional paid-in capital	19,293,867	17,614,534
Accumulated deficit	(21,003,073)	(22,006,440)
Total Stockholders' Deficit	(1,688,066)	$ (4,391,154)
Non-controlling interests	22,309
Total Deficit	(1,665,757)	$ (4,391,154)
Total Liabilities and Stockholders' Deficit	$ 141,552	$ 108,344