SEFE, INC.

CIK:0001321573|SEC Filings

Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended		96 Months Ended
Statements of Operations (Unaudited) (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Revenue
Sales, net of allowance of $107					$ 464
Cost of sales					273
Freight in					95
Gross profit					96
Expenses:
Advertising and marketing	189,068	10,450	354,783	17,666	475,477
Depreciation and amortization	7,133	6,974	21,086	20,181	55,934
Executive compensation	45,000	87,500	75,000	262,500	463,895
General and administrative expenses	107,176	69,866	295,362	148,069	567,301
Professional fees	143,356	(11,312)	431,340	250,528	864,184
Impairment expense					214,414
Total expenses	491,733	163,478	1,177,571	698,944	2,641,205
Loss before other expenses	(491,733)	(163,478)	(1,177,571)	(698,944)	(2,641,205)
Other expense:
Interest expense	(39,092)	(53,371)	(91,709)	(139,333)	(309,647)
Forgiveness of debt income			39,092		39,092
Total other expense	(39,092)	(53,371)	(52,617)	(139,333)	(270,555)
Loss before provision for income taxes	(530,825)	(216,849)	(1,230,188)	(838,277)	(2,911,664)
Provision for income taxes
Net (loss)	$ (530,825)	$ (216,849)	$ (1,230,188)	$ (838,277)	$ (2,911,664)
Weighted average number of common shares outstanding - basic and fully diluted	55,083,575	61,045,348	52,586,753	60,567,839
Net (loss) per share - basic and fully diluted	$ (0.01)	$ 0.00	$ (0.02)	$ (0.01)

Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended		96 Months Ended
Statements of Cash Flows (Unaudited) (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Cash flows from operating activities
Net loss	$ (1,230,188)	$ (838,277)	$ (2,911,664)
Adjustments to reconcile net loss to net cash(used in) operating activities:
Shares issued for services - related party			17,000
Amortization of prepaid stock compensation
Depreciation and amortization	21,086	20,181	55,934
Impairment expense			213,976
Amortization of beneficial conversion feature	58,833	84,722	177,305
(Increase) in prepaid expenses and deposits	(14,239)	(33,413)	(39,093)
Increase (decrease) in accounts payable	68,502	(53,800)	98,688
Increase (decrease) in accrued interest	33,020	52,560	128,491
Increase (decrease) in payroll liabilities	(3,114)	(6,241)	15,948
Net cash (used in) operating activities	(1,066,100)	(774,268)	(2,243,415)
Cash flows from investing activities
Acquisitions of fixed assets	(3,201)	(12,147)	(69,824)
Net cash (used in) financing activities	(3,201)	(12,147)	(69,824)
Cash flows from financing activities
Bank overdraft	(1,720)	(6,324)	(1,720)
Donated capital			830
Proceeds from sale of common stock	244,000	508,000	910,500
Repurchase of common stock	(4,500)		(4,500)
Proceeds from note payable	840,557	307,627	1,068,454
Proceeds from note payable - related party			455,000
Forgiveness of debt income	(39,092)		(39,092)
Payments to from note payable	(31,328)	(14,066)	(76,233)
Net cash provided by financing activities	1,007,917	795,237	2,313,239
NET INCREASE (DECREASE) IN CASH	(61,384)	8,822
CASH AT BEGINNING OF PERIOD	61,384
CASH AT END OF PERIOD		8,822
SUPPLEMENTAL DISCLOSURES:
Interest paid
Income taxes paid
NON-CASH ACTIVITIES:
Shares issued for services - related party			17,000
Number of shares issued for services - related party			17,000,000
Shares issued for assets and debt			30,000
Number of shares issued to acquire assets and debt			30,000,000
Acquisition of notes payable for assignment agreement			250,000
Warrants issued for services
Number of warrants issued for services			125,000
Shares issued for debt converted into common stock	760,000		760,000
Number of shares issued for debt converted	23,750,825		23,750,825
Accrued interest payable forgiven	$ 96,906		$ 96,906

Balance Sheets (USD $)	Sep. 30, 2012	Dec. 31, 2011
Assets
Cash		$ 61,384
Prepaid expenses and deposits	39,093	24,854
Total current assets	39,093	86,238
Fixed assets, net of accumulated depreciation of $48,521 and $29,871 as of September 30, 2012 and December 31, 2011, respectively.	76,773	91,952
Website, net of accumulated amortization of $7,683 and $4,075 as of September 30, 2012 and December 31, 2011, respectively.	3,142	5,848
Total assets	119,008	184,038
Current liabilities:
Bank overdraft	1,720
Accounts payable	98,688	30,186
Accrued interest	31,992	95,471
Notes payable, net of discount of $69,599 and $16,528, respectively	750,776	306,465
Notes payable - related party	115,000	565,000
Payroll liabilities	15,948	19,062
Total current liabilities	1,014,124	1,016,184
Total liabilities	1,014,124	1,016,184
Stockholders' Equity (Deficit):
Common stock, $0.001 par value, 200,000,000 shares authorized, 55,083,575 and 31,196,000 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively	55,084	31,196
Common stock owed but not issued, 4,078,000 at December 31, 2011		4,078
Additional paid-in capital	2,106,464	959,056
Deficit accumulated during development stage	(3,056,664)	(1,826,476)
Total stockholders' equity (deficit)	(895,116)	(832,146)
Total liabilities and stockholders' equity (deficit)	$ 119,008	$ 184,038