CALIFORNIA GOLD CORP.

CIK:0001363573|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Operating expenses:
General and administrative	$ 1,786,835	$ 3,450,337
Loss from operations	1,786,835	3,450,337
Other income (expenses):
Interest expense	(33,075)	(1,522)
Other expense	(93,866)
Loss on deconsolidation of LocatorX, Inc.	(396,538)
Gain on change in fair value of derivative liabilities		11,700
Total other income (expenses), net	(523,479)	10,178
Net loss	(2,310,314)	(3,440,159)
Net loss attributable to non-controlling interest	(423,510)	(213,139)
Net loss attributable to MV Portfolios, Inc.	$ (1,886,804)	$ (3,227,020)
Basic and diluted net loss per share:
Net loss per share (in dollars per share)	$ (0.03)	$ (0.08)
Weighted average number of common shares outstanding - basic and diluted (in shares)	60,636,177	38,767,293

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (2,310,314)	$ (3,440,159)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on deconsolidation of LocatorX, Inc.	396,538
Amortization of debt discounts and deferred financing costs	7,157	521
Gain on change in fair value of derivative liabilities		(11,700)
Stock-based compensation	663,119	1,894,994
Common stock issued for services	50,000
Warrants issued for services		152,167
Loss on common stock issued for liabilities		105,000
Change in operating assets and liabilities:
Other current assets	(7,000)
Accounts payable	(336,026)
Accounts payable-related parties	50,000
Accrued expenses	102,962	361,385
Accrued expenses-related parties	512,302
Net cash used in operating activities	(871,262)	(937,792)
Cash flows from financing activities:
Contribution by non-controlling interest	345,658	481,924
Repayment of convertible notes
Proceeds from the sale of common stock	513,000	420,000
Proceeds from the sale of Series E preferred stock	85
Proceeds from related party debt	20,000	5,000
Proceeds from issuing debt		25,000
Net cash provided by financing activities	878,743	931,924
Net increase (decrease) in cash	7,481	(5,868)
Cash, beginning of period	2,640	8,508
Cash, end of period	10,121	2,640
Supplemental disclosures of cash flow information:
Interest paid
Income taxes paid
Non-cash investing and financing activities:
Conversion of Series C Preferred stock to common stock	53	161
Common stock issued for liabilities	112,000	485,000
Debt discount on warrants		$ 19,938

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Current assets:
Cash	$ 10,121	$ 2,640
Advances to related party	5,000
Investment and advances to unconsolidated subsidiary	549,619
Other current assets	2,000
Total assets	566,740	2,640
Current liabilities:
Accounts payable	897,785	1,345,811
Accounts payable - related party	50,000
Accrued expenses	102,962
Accrued expenses - related party	512,302
Advances - related party	25,500	5,000
Short term loan - net of discount of $12,760 and $19,417	12,240	5,583
Total liabilities	1,600,789	1,356,394
Commitments and contingencies
Stockholders' deficit:
Common stock, par value $0.001 per share; 300,000,000 shares authorized; 73,005,628 and 44,977,822 shares issued and outstanding	73,006	44,978
Additional paid-in capital	26,293,038	24,410,394
Accumulated deficit	(27,412,822)	(25,526,018)
Total stockholders' deficit attributable to MV Portfolios, Inc.	(1,034,049)	(1,057,949)
Total stockholders' equity attributable to non-controlling interest		(295,805)
Total stockholders' deficit	(1,034,049)	(1,353,754)
Total liabilities and stockholders' deficit	566,740	2,640
Series A Preferred Stock [Member]
Stockholders' deficit:
Convertible preferred stock	8,000	8,000
Total stockholders' deficit	8,000	8,000
Series B Preferred Stock [Member]
Stockholders' deficit:
Convertible preferred stock	749	749
Total stockholders' deficit	749	749
Series C Preferred Stock [Member]
Stockholders' deficit:
Convertible preferred stock	3,875	3,928
Total stockholders' deficit	3,875	3,928
Series D Preferred Stock [Member]
Stockholders' deficit:
Convertible preferred stock	20	20
Total stockholders' deficit	20	$ 20
Series E Preferred Stock [Member]
Stockholders' deficit:
Convertible preferred stock	85
Total stockholders' deficit	$ 85