HK GRAPHENE TECHNOLOGY CORP

CIK:0001380412|SEC Filings

Statement of Operations - USD ($)	12 Months Ended
Statement of Operations - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Operating Costs
Research and development expenses	$ 150,000	$ 75,000
General and administrative expenses	1,397,243	1,171,105
Total operating expenses	(1,547,243)	(1,246,105)
Other income (Expense)
Interest income	0	31,617
Interest expense	(80,000)	(80,002)
Forgiveness of related party payable	0	33,732
Total other income (expense)	(80,000)	(82,117)
(Net loss)	$ (1,627,244)	$ (1,328,222)
Loss per share	$ (1.33)	$ (1.08)
Weighted-average number of common shares outstanding: basic and diluted	1,227,039	1,227,039

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net loss	$ (1,627,244)	$ (1,328,222)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest income on notes receivable - related party	0	(31,617)
Loss on forgiveness of related party payable	0	33,732
Accounts payable and accrued expenses	80,000	74,197
Accounts payable to ACI - related party	5,287	61,974
Interest accrued on notes payable	0	0
Due from AMI	0	65,935
Net cash used in operating activities	(1,541,956)	(1,124,000)
Investing activities
Advances to related party - ACI	0	(3,000,000)
Proceeds from related party note receivable - ACI	0	4,930,000
Net cash provided by financing activities	0	1,930,000
Financing activities
Issuance of convertible preferred stock, net of offering costs	0	336,667
Loan from LYG	0	0
Bank overdraft	0	(2,864)
Net cash (used in) provided by financing activities	0	333,803
Net Increase in Cash	(1,541,956)	1,139,803
Cash at Beginning of the Period	2,929,764	1,789,961
Cash at End of the Period	1,387,807	2,929,764
Supplemental cash flow information:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash	$ 1,387,807	$ 2,929,764
Due from AMI	0	0
Total current assets	1,387,807	2,929,764
Non-current assets
Note receivable - Related Party	0	0
Total non-current assets	0	0
Total assets	1,387,807	2,929,764
Current liabilities
Bank overdraft	0	0
Accounts payable	0	0
Due to related party	148,424	143,136
Accrued expenses	180,416	100,416
Loan payable	4,000,000	4,000,000
Total liabilities	4,328,840	4,243,552
Shareholders' deficit
Preferred stock, $.001 par value 1,000,000,000 shares authorized; 1,300 designated Series A Convertible shares; 1,300 designated Series A Convertible shares issued, 3,683 designated Series B Convertible shares issued, and outstanding as of December 31, 2015 and December 31, 2014	5	5
Additional paid in capital - prefer stock	466,662	466,662
Common stock, par value $.001; 5,000,000,000 shares authorized, 1,277,039 shares issued and outstanding as of December 31, 2015 and December 31, 2014	1,277	1,277
Additional paid in capital - common stock	4,087,401	4,087,401
Accumulated deficit	(7,496,378)	(5,869,134)
Total stockholders' deficit	(2,941,033)	(1,313,789)
Total liabilities and stockholders' deficit	$ 1,387,807	$ 2,929,764