$NFTM

Buildablock Corp.

CIK:0001345865|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	7 Months Ended	12 Months Ended
	Nov. 30, 2012	Nov. 30, 2012	Nov. 30, 2011
Income Statement [Abstract]
REVENUE			$ 134,422
COSTS AND EXPENSES
Cost of sales			301,379
Depreciation and amortization			132,490
Research and development	257,568	257,568
Administrative expenses	784,536	1,121,464	429,616
Total costs and expenses	1,042,104	1,379,032	863,485
OPERATING LOSS	(1,042,104)	(1,379,032)	(729,063)
NON-OPERATING INCOME (EXPENSE)
Interest expense			(131,402)
Total Non-Operating Expense			(131,402)
NET LOSS FROM CONTINUING OPERATIONS	(1,042,104)	(1,379,032)	(860,465)
DISCONTINUED OPERATIONS
Gain (loss) on disposal of subsidiary		2,648,735
Gain (loss) from discontinued operations		(46,110)
NET GAIN FROM DISCONTINUED OPERATIONS		2,602,625
NET INCOME (LOSS)	(1,042,104)	$ 1,223,593	$ (860,465)
NET INCOME PER COMMON SHARE (BASIC)
From continuing operations		$ (0.08)	$ (0.10)
From discontinued operations		0.15
Net income per common share (basic)		$ 0.07	$ (0.10)
Weighted average shares outstanding (BASIC)		17,790,270	8,397,013
NET INCOME PER COMMON SHARE (DILUTED)
From continuing operations		$ (0.08)	$ (0.10)
From discontinued operations		0.15
Net income per common share (diluted)		$ 0.07	$ (0.10)
Weighted average shares outstanding (DILUTED)		17,790,270	8,397,013
OTHER COMPREHENSIVE LOSS - CONTINUING OPERATIONS
Comprehensive loss - beginning of period		$ (1,379,032)	$ (860,465)
Cumulative translation adjustments		(59)	(12,648)
Comprehensive loss - end of period	$ (1,042,163)	$ (1,379,091)	$ (873,113)

Consolidated Statements Of Cash Flows (Unaudited) - USD ($)	7 Months Ended	12 Months Ended
	Nov. 30, 2012	Nov. 30, 2012	Nov. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES - CONTINUING OPERATIONS:
Net income (loss)	$ (1,042,104)	$ (1,379,032)	$ (860,465)
Adjustments to reconcile net income (loss) to net cash used for operating activities:
Depreciation and amortization			132,490
Stock based compensation and shares issued for services		192,476	73,270
Contributed expenses by management		30,645	40,860
Changes in operating assets and liabilities:
Accounts receivable			(7,708)
Prepaid expenses and other current assets
Accounts payable and accrued expenses	113,930	72,270	233,008
Net cash used for operating activities	(928,174)	(1,083,641)	(388,545)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (decrease) in cash overdraft	(196,569)	(301)	102
Cash received for common stock	1,486,750	1,486,750	70,000
Loan payable to bank
Loan payable to shareholders			(285,749)
Net cash provided by financing activities	1,290,181	1,486,449	355,851
DISCONTINUED OPERATIONS
Operating activities		(40,765)
Investing activities
Financing activities		23
Total Discontinued Operations		(40,742)
EFFECT OF EXCHANGE RATE ON CASH		(59)	19,689
INCREASE (DECREASE) IN CASH	362,007	362,007	(13,005)
CASH, BEGINNING OF YEAR			13,005
CASH, END OF PERIOD	362,007	362,007
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest
NONCASH OPERATING AND FINANCING ACTIVITIES:
Conversion of notes payable - related parties for equity			25,000
Common shares issued for intellectual property		$ 10,000

Consolidated Balance Sheets (Unaudited) - USD ($)	Nov. 30, 2012	Nov. 30, 2011
CURRENT ASSETS
Cash	$ 362,007
Current assets held under discontinued operations		35,181
Total Current Assets	362,007	35,181
OTHER ASSETS
Intellectual property	10,000
Total other assets	10,000
Total Assets	372,007	35,181
CURRENT LIABILITIES
Cash overdraft		301
Accounts payable	69,083	38
Accrued expenses	60,380	60,380
Convertible note payable - third party	2,500
Current liabilities held under discontinued operations		2,550,328
Total Current Liabilities	131,963	2,611,047
Total Liabilities	131,963	2,611,047
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, par value $0.00001, 100,000,000 shares authorized, 23,937,979 and 8,559,721 shares issued and outstanding at November 30, 2012 and 2011, respectively	239	86
Additional paid-in capital	2,357,129	1,551,368
Additional paid-in capital - options and warrants	1,075,539	145,512
Subscription receivable	(76,927)
Accumulated deficit	(1,884,979)	(4,150,676)
Deficit accumulated during the development stage	(1,042,104)
Accumulated other comprehensive income (loss)	(188,853)	(122,156)
Total Stockholders’ Equity (Deficit)	240,044	(2,575,866)
Total Liabilities and Stockholders’ Equity (Deficit)	$ 372,007	$ 35,181