Leo Motors, Inc.

CIK:0001356564|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Details
Revenues	$ 988,582	$ 792,037	$ 1,821,525	$ 2,344,199
Cost of Revenues	783,136	503,484	1,574,605	1,484,572
Gross Profit	205,446	288,553	246,920	859,627
Operating Expenses	1,076,492	1,759,520	4,160,535	3,676,871
Income(loss) from Continuing Operations	(871,046)	(1,470,967)	(3,913,615)	(2,817,244)
Other Income (Expenses)
Interest Expense	(7,006)	(7,817)	(21,684)	(25,581)
Interest Income	316	0	316	0
Goodwill Impairment	(2,613,486)	0	(2,613,486)	0
Currency Gains (Losses)	265,664	(205,495)	274,972	(29,865)
Non-Operating (expense) income	340,515	60,100	452,712	96,597
Total Other Income (Expenses)	(2,013,997)	(153,212)	(1,907,170)	41,151
Income(loss) from Continuing Operations Before Income Taxes	(2,885,043)	(1,624,179)	(5,820,785)	(2,776,093)
Income Tax Expense	4	459	1,253	459
Net Income(Loss)	(2,885,047)	(1,624,638)	(5,822,038)	(2,776,552)
Income(loss) attributable to non-controlling interest	(157,454)	(126,853)	(744,960)	(86,890)
Net Income(Loss) Attributable To Leo Motors, Inc.	(2,727,593)	(1,497,785)	(5,077,078)	(2,689,662)
Other Comprehensive Income:
Net Income(Loss)	(2,885,047)	(1,624,638)	(5,822,038)	(2,776,552)
Unrealized foreign currency translation gain (loss)	35,069	(205,495)	101,736	(29,865)
Comprehensive Income (loss) Attributable to Leo Motors, Inc.	$ (2,849,978)	$ (1,830,133)	$ (5,720,302)	$ (2,806,417)
Net Loss per Common Share:
Basic	$ (0.02)	$ (0.01)	$ (0.03)	$ (0.02)
Diluted	$ (0.02)	$ (0.01)	$ (0.03)	$ (0.02)
Weighted Average Common Shares Outstanding:
Basic	174,606,521	162,919,011	174,203,742	162,853,533
Diluted	174,606,521	162,919,011	174,203,742	162,853,533

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Cash flows from Operating Activities:
Net loss	$ (5,077,078)	$ (2,689,662)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	123,969	66,286
Write off intangibles	2,675,271	0
Foreign currency translation	0	29,865
Stock-based compensation	66,103	206,112
Non-Controlling Interest	777,896	0
Changes in assets and liabilities:
Prepaid Expenses	(6,477)	0
Accounts Receivable	(62,233)	587,045
Inventories	(91,733)	(372,242)
Prepayment to suppliers	144,759	(346,141)
Non Trade Receivables	142,739	0
Other current assets	(87,937)	(57,025)
Other assets	(381,691)	10,301
Accounts payable, other payables and accrued expenses	2,070,332	797,071
Accrued retirement benefits	246,387	67,930
Advances from customers	(86,337)	(37,814)
Taxes payable	244,357	(40,126)
Net cash used in operating activities:	698,327	(1,778,400)
Cash flows from investing activities:
Purchase of property and equipment	(371,998)	(61,608)
Purchase of Available for Sale Securities	(417,873)	0
Purchase of Additional Equity in Subsidiaries	(531,080)	0
Net cash provided(used) in investing activities:	(1,320,951)	(61,608)
Cash flows from financing activities:
Proceeds (payments) on notes payable / long term payables	188,329	423,448
Payments on notes payable	(9,923)	(235,175)
Proceeds on notes payable - related party	171,194	32,396
Sale of Equity in Subsidiary	1,137,542
Other Comprehensive Income	174,373	0
Proceeds from issuance of stock & warrants	200,000	2,873,301
Net cash provided(used) by financing activities:	1,861,515	3,093,970
Effect of Foreign Exchange Rate on Cash	(1,265,492)	0
Net Increase in cash and cash equivalents:	(26,601)	1,253,962
Cash and cash equivalents - beginning of year	460,671	243,809
Cash and cash equivalents - end of period	434,070	1,497,771
Supplemental disclosure of cash flow activities:
Interest	21,684	25,581
Income taxes	0	0
Supplemental disclosures of non-cash activities:
Common stock issued for services	66,103	206,112
Goodwill on Acquisition	$ 0	$ 660,928

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 434,070	$ 460,671
Accounts receivable	495,438	433,205
Inventories	996,565	1,088,298
Prepayment to suppliers	602,402	457,643
Other current assets	186,387	91,973
Total Current Assets	2,714,862	2,531,790
Fixed assets, net	371,432	129,157
Deposits and Other Assets	727,946	346,255
Available for Sale Securities	417,873	0
Intangible assets	26,718	88,503
Goodwill	0	2,613,486
Total Assets	4,258,831	5,709,191
Current Liabilities:
Accounts payable	1,883,248	1,411,130
Accrued expenses	5,943,985	4,345,772
Advance from customers	300,287	386,624
Due to related parties	519,951	358,680
Taxes payable	273,992	29,635
Notes Payable current portion	271,082	268,824
Total Current Liabilities	9,192,545	6,800,665
Accrued retirement benefits	462,582	216,195
Other long term liabilities	261,180	72,851
Total Liabilities	9,916,307	7,089,711
Leo Motors, Inc. ('LEOM') Equity (Deficit):
Common stock ($0.001 par value; 300,000,000 shares authorized); 174,801,408 and 172,528,016 shares issued and outstanding at September 30, 2017 and December 31, 2016	174,801	172,528
Additional paid-in capital	22,813,204	21,411,832
Accumulated other comprehensive income	1,358,816	1,184,443
Accumulated loss	(34,853,295)	(29,776,217)
Total Equity (Deficit) Leo Motors, Inc.	(10,506,474)	(7,007,414)
Non-controlling interest	4,848,998	5,626,894
Total Equity (Deficit)	(5,657,476)	(1,380,520)
Total Liabilities and Equity(Deficit)	$ 4,258,831	$ 5,709,191