ALL AMERICAN PET COMPANY, INC.

CIK:0001362502|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Consolidated Statements Of Operations
Revenue	$ 20,947	$ 13,429	$ 113,491	$ 13,429
Slotting fees		(2,499)		(2,499)
Net sales	20,947	10,930	113,491	10,930
Cost of goods sold	43,566	5,514	116,330	5,514
GROSS PROFIT (LOSS)	(22,619)	5,416	(2,839)	5,416
OPERATING EXPENSES
Sales and marketing	63,252	100,261	129,783	177,733
General and administrative	727,919	406,056	1,241,148	749,549
TOTAL OPERATING EXPENSES	791,171	506,317	1,370,931	927,282
LOSS FROM OPERATIONS	(813,790)	(500,901)	(1,373,770)	(921,866)
OTHER EXPENSE/(INCOME)
Loss (Gain) on settlement		(131,912)		131,912
Interest expense	83,747	27,914	225,627	64,016
TOTAL OTHER EXPENSE	83,747	(103,998)	225,627	(67,896)
LOSS BEFORE TAXES	(897,537)	(396,903)	(1,599,397)	(853,970)
Provision for income taxes
NET LOSS	(897,537)	(396,903)	(1,599,397)	(1,248,810)
Net loss attributable to noncontrolling interest	(10,196)	(23,117)	51,681	(43,012)
NET LOSS ATTRIBUTABLE TO ALL AMERICAN PET COMPANY, INC.	$ (887,341)	$ (373,786)	$ (1,651,078)	$ (810,958)
BASIC AND DILUTED LOSS PER COMMON SHARES	$ (0.001)	$ (0.001)	$ (0.002)	$ (0.002)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (BASIC AND DILUTED)	878,254,407	464,088,522	795,336,774	407,745,257

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,599,397)	$ (1,248,810)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	14,696	227
Amortization of contest prize	11,058	10,426
Amortization of prepaid consulting fees	87,330
Amortization of debt discount to interest expense	40,839
Common stock issued as additional financing cost	100,000
Gain on settlement		(131,912)
Common stock issued for services	8,381	10,768
(Increase) decrease in:
Accounts receivable	(18,665)
Inventory	(25,699)	(363,198)
Other assets	21,054	(16,765)
Increase (decrease) in:
Accounts payable	28,380	804,865
Accounts payable former officer		(15,000)
Accrued officer/consulting salaries		(258,293)
Accrued payroll taxes	49,387	65,882
Accrued liabilities	14,593
Settlements and judgments	12,489	2,064
Accrued interest	6,744
NET CASH USED IN OPERATING ACTIVITIES	1,248,810	(744,906)
CASH FLOWS FROM INVESTING ACTIVITIES
Equipment purchases	(103,972)	(48,428)
NET CASH FLOW USED BY INVESTING ACTIVITIES	(103,972)	(48,428)
CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft	(469)	(809)
Proceeds from notes payable - others	107,000
Proceeds from notes payable - Grid note (net)	541,257
Placement fees paid	(75,000)
Proceeds from sale of common stock	819,748	1,540,947
NET CASH PROVIDED BY FINANCING ACTIVITIES	1,392,536	1,540,138
Increase in cash and cash equivalents	39,754	746,804
Cash at beginning of period	13,376	2,396
CASH AT END OF PERIOD	53,130	749,200
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest
Income taxes
NON CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued as additional financing cost	100,000
Common stock issued for placement fees	86,920
Accrual of placement fees	84,474
Common stock issued for services	2,095,419
Debt discount associated with Grid Note beneficial conversion feature	541,257
Conversion of debt for shares of common stock		$ 116,047

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2013	Dec. 31, 2012
Current Assets:
Cash	$ 53,130	$ 13,376
Accounts Receivable	18,665
Prepaid Expenses	2,107,817
Inventory	741,568	715,869
Total current assets	2,921,180	729,245
Machinery and equipment, net	158,642	69,366
Other assets	64,236	85,290
TOTAL ASSETS	3,144,058	883,901
Current Liabilities:
Bank overdraft	89,626	90,095
Accounts payable	2,634,018	2,605,638
Current portion contest prize	166,665	133,332
Settlement and judgments payable	890,488	877,999
Share guarantee liability	393,000	400,000
Accrued wages	5,269	36,678
Placement fees payable	20,306	54,372
Accrued payroll taxes	939,098	889,711
Grid note advances, net of debt discount	25,000
Notes payable, net of debt discount	112,635	50,000
Accrued interest	54,641	47,897
Total current liabilities	5,330,746	5,185,722
Long-term liabilities:
Net present value contest prize obligation	247,243	269,518
Total long-term liabilities	247,243	269,518
TOTAL LIABILITTIES	5,577,989	5,455,240
COMMITMENTS AND CONTINGENCIES
Stockholders' deficit
Common stock, $0.001 par value; authorized 3,000,000,000 shares at June 30, 2013 and December 31, 2012; issued and outstanding June 30, 2012 (1,020,239,381) and December 31, 2012 (695,494,866)	1,017,740	695,495
Additional paid-in capital	22,050,773	18,486,273
Common stock payable	527,216	677,156
Common stock receivable	(142,000)	(142,000)
Accumulated deficit	(25,380,474)	(23,729,397)
Non-controlling interest	(507,186)	(558,866)
Total Stockholders' deficit	(2,433,931)	(4,571,339)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 3,144,058	$ 883,901