Deltron, Inc.

CIK:0001345913|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	9 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2010	Sep. 30, 2011
Revenue
Sales	$ 2,546,606	$ 3,504,513
Cost of sales	2,269,102	2,768,256
Gross profit	277,504	736,257
Selling, general and administrative expenses	467,036	948,994
Operating income (loss)	(189,532)	(212,737)
Interest expense	(149,564)	(255,467)
Interest income		1,025
Write off of debt from subsidiary	(21,799)
Derivative expense		(7,159,130)
Impairment writedown of intangible asset		(266,250)
Gain on disposal of assets	1,905
Total other income (expense)	(169,458)	(7,679,822)
Loss before provision for income taxes	(358,990)	(7,892,559)
Provision for income taxes	1,600	1,600
Net loss	$ (360,590)	$ (7,894,159)
Basic	$ (0.001)	$ (0.0072)
Fully diluted	$ (0.001)	$ (0.0072)
Weighted average number of common stock outstanding - basic	377,870,921	1,092,303,685
Weighted average number of common stock outstanding - diluted	377,870,921	1,092,303,685

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	9 Months Ended	12 Months Ended
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	Sep. 30, 2010	Sep. 30, 2011
Cash Flows from Operating Activities:
Net loss	$ (360,590)	$ (7,894,159)
Depreciation and amortization	17,602	195,150
Bad debt expense	(5,191)
Inventory obsolescence	795
Beneficial conversion feature	96,167
Amortization of debt discount		79,333
Increase/Decrease in Gain on disposal of assets	(1,905)
Write off debt from subsidiary	21,799
Stock issued for services		92,800
Impairment expense on intangible asset		266,250
Increase in derivative liability		7,159,130
(Increase) Decrease in accounts receivable	(404,211)	121,939
(Increase) Decrease in inventory	(12,685)	(270,837)
(Increase) Decrease in prepaid expenses and other receivables	(15,194)	(791)
Increase (decrease) in accounts payable	211,237	(210,389)
Increase (decrease) in accrued expenses	48,128	(32,001)
Increase (decrease) in accrued expenses - related parties	150,000	179,000
Increase (decrease) in accrued interest - others		109,665
Increase (decrease) in accrued interest - related parties	39,908	50,838
Net Cash (Used) by Operating Activities	(214,140)	(154,072)
Purchase of equipment		(12,030)
Net Cash Used in Investing Activities		(12,030)
Payment on line of credit		(25,000)
Increase in bank overdraft	10,506	19,496
Borrowing on convertible notes		174,250
Borrowing on related party notes	175,500
Net Cash Provided by Financing Activities	186,006	168,746
Net increase (decrease) in Cash	(28,134)	2,644
Cash and Cash Equivalents - Beginning of Period	29,986	1,852
Cash and Cash Equivalents - End of Period	1,852	4,496
Cash paid for interest expense	6,184	12,962
Cash paid for income taxes		$ 3,200

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Sep. 30, 2010
Assets {1}
Cash	$ 4,496	$ 1,852
Accounts receivable, net of allowance of doubtful accounts of 2,730 and 2,630 at September 30, 2011 and 2010, respectively	538,456	660,395
Inventory, net of allowance of obsolescence of 9,795 at September 30, 2011 and 2010, respectively	603,513	332,676
Loan receivable		41,000
Investment in available for sale securities	137,728
Prepaid expenses and other receivables	18,328	19,826
Total Current Assets	1,302,521	1,055,749
Property and equipment, net	32,869	32,239
Intangible asset, net of amortization of 183,750	2,700,000
Total Assets	4,035,390	1,087,988
Line of credit	100,000	125,000
Bank overdraft	30,002	10,506
Accounts payable	241,929	452,318
Accrued expenses	155,925	75,091
Income taxes payable		1,600
Accrued expenses - related parties	329,000	150,000
Accrued interest - related parties	111,809	63,541
Derivative liability	7,159,130
Convertible notes	3,165,741
Convertible notes - related parties, net of note discount of 79,333		96,167
Current portion of long term debt - related party	489,082	334,587
Total Current Liabilities	11,782,618	1,308,810
Notes payable - related party, net of current portion	606,028	760,523
Total Liabilities	12,388,646	2,069,333
Common stock, 0.001 par value; 10,000,000,000 shares authorized, 2,663,313,000 and 678,478,980 shares issued and outstanding at September 30, 2011 and September 30,2010, respectively, with no liquidation preferences	$ 2,663,313	$ 678,479
Series A Preferred Stock, no par value, 1 share issued and outstanding at September 30, 2011 and 0 outstanding at September 30, 2010	$ 1,000
Additional paid-in capital		1,418,767
Accumulated other comprehensive income	94,442
Accumulated deficit	(11,112,011)	(3,078,591)
Total Stockholders' (Deficit)	(8,353,256)	(981,345)
Total Liabilities and Stockholders' (Deficit)	$ 4,035,390	$ 1,087,988