Hydrogen Future Corp

CIK:0001381054|SEC Filings

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		102 Months Ended	105 Months Ended
Statements of Operations (Unaudited) - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 30, 2014	Mar. 31, 2015
Expenses
General and Administrative Expenses	$ 103,371	$ 196,707	$ 354,777	$ 5,776,147	$ 9,006,604	$ 9,006,604
Issuance of Common Stock to settle a prior liability	0	117,000	0	117,000	117,000	117,000
Impairment of software	0	0	0	0	1,035,027	1,035,027
Total	103,371	313,707	354,777	5,893,147	10,158,631	10,158,631
Other (Expense)
Interest expense	(144,051)	(243,721)	(485,950)	(523,738)	(1,329,987)	(1,329,987)
Derivative expense	(70,036)	(449,501)	(311,078)	(2,569,102)	(4,564,403)	(4,564,403)
Change in fair value of derivative liability	1,412,270	(116,720)	(11,081)	3,141,729	4,241,757	4,241,757
Loss on Retirement of Debt	(31,619)	(125,034)	(116,743)	(2,124,401)	(2,468,849)	(2,468,849)
Write-down of goodwill	(1,358,920)	0	(1,358,920)	0	(1,322,849)	(1,358,920)
Tax refunds	0	0	0	0	36,071	36,071
Total Other (Expense) - net	(192,356)	(934,976)	(2,283,771)	(2,075,512)	(5,408,261)	(5,444,332)
Net Income (Loss)	$ (295,727)	$ (1,248,683)	$ (2,638,549)	$ (7,968,659)	$ (15,566,891)	$ (15,602,962)
Net loss per common share - basic	$ 0.00	$ (.92)	$ (.01)	$ (1.59)
Net loss per common share - diluted	$ 0.00	$ (.76)	$ (.01)	$ (10.22)
Weighted average number of common shares outstanding during the period/year - basic	1,103,532,329	1,364,561	389,206,333	687,642
Weighted average number of common shares outstanding during the period/year - diluted	1,103,932,329	1,641,484	389,606,333	779,950

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended		105 Months Ended
Statements of Cash Flows (Unaudited) - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,638,549)	$ (7,968,659)	$ (15,602,962)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Share based payments	0	5,255,000	5,907,549
Impairment of software	0	0	1,035,027
Write-down of goodwill	1,358,920	0	1,358,920
Derivative expense	311,078	2,569,102	4,564,403
Depreciation	29,835	25,599	499,049
Amortization of debt issue cost	20,545	16,081	89,033
Amortization of debt discount	390,394	427,679	973,299
Amortization of Original Issue Discount	227	28,394	36,370
Change in fair value of derivative liabilities	11,081	(3,141,729)	(4,241,757)
Accrued interest on Retired debt	39,326	8,778	75,401
Fees on debt conversions	18,257	10,800	38,402
Loss on Retirement of Debt	116,743	2,124,401	2,468,849
Loss on issuance of Common Stock to settle a prior liability	0	117,000	117,000
Issuance of Common stock for consulting agreements	0	0	48,000
Changes in operating assets and liabilities:
(Increase) decrease in other receivables	0	(335)	0
(Increase) decrease in Inventory	(1,319)	0	(2,031)
Increase (decrease) in accounts payable and accrued expense	(9,006)	87,187	156,985
Increase in accounts payable - related party	0	0	415,719
Increase in working capital from acquisition	0	(319,630)	(319,630)
Increase in accrued interest	56,003	294,858	435,095
Net cash provided by (used in) operating activities	(296,464)	(465,473)	(1,947,278)
CASH FLOWS FROM INVESTING ACTIVITIES:
Note receivable Acquired in Acquistion	850	(47,005)	(46,155)
Cash acquired in Acquisition	0	402	402
Purchase of property and equipment	(2,805)	0	(307,428)
Net cash used in investing activities	(1,955)	(46,603)	(353,181)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from related party notes/advances	0	0	31,586
Proceeds from convertible notes payable	44,000	357,125	917,178
Notes Issued for Professional services	225,000	225,000	793,727
Repayment of related party notes/advances	0	0	(968)
Cash paid as debt offering costs	(500)	0	(24,500)
Proceeds from issuance of common stock	0	0	587,490
Net cash provided by financing activities	268,500	582,125	2,304,513
Net (Decrease) in Cash	(29,919)	70,049	4,054
Effect of Exchange Rates on Cash	0	0	(2,941)
Cash - Beginning of Period/Year	31,033	0	0
Cash - End of Period/Year	1,114	70,049	1,114
Interest	0	0	0
Income Taxes	$ 0	$ 0	$ 0
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Debt converted to common shares	103,252	552,746	953,828
Common stock issued to acquire software	$ 0	$ 0	$ 1,380,876
Notes payable acquired in acquisition	0	984,008	984,008
Preferred stock issued to officers	0	310,000	310,000
Debt discount recorded on convertible debt accounted for as a derivative liability	269,000	582,125	1,316,875
Debt discount recorded on convertible debt accounted for as a derivative liability - original issue discount	0	0	27,122
Debt issue costs - warrants	$ 0	$ 0	$ 26,901

Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Assets
Cash	$ 1,114	$ 31,033
Inventory	2,031	712
Total current assets	3,144	31,745
Property and equipment - net	154,228	181,259
Note Receivable	46,155	47,005
Debt issue costs - net	243	20,288
Goodwill	1,994,236	3,353,156
Total Non-Current Assets	2,194,862	3,601,708
Total assets	2,198,007	3,633,453
Liabilities and Stockholders' (Deficit)
Accounts payable and accrued liabilities	156,985	165,991
Accounts payable - former Officer	415,719	415,719
Accrued interest payable	435,095	379,092
Notes/Advances payable - related party	27,173	27,173
Derivative liability	694,287	243,809
Convertible debt - net	804,978	442,609
Non-convertible debt from Hydra Acquistion	981,508	981,508
Total current liabilities	3,515,745	2,655,901
Stockholders' (Deficit)
Preferred stock, Series A, $0.001 par value, 200,000,000 shares authorized; 100,000,000 issued and outstanding at June 30, 2015 and September 30, 2014	100,000	100,000
Preferred stock,Series B, $0.001 par value, 1 share authorized; 1 share and 0 shares issued and outstanding at June 30, 2015 and September 30, 2014, respectively	0	0
Common stock, $0.001 par value, 10,000,000,000 shares authorized; 1,337.300,030 and 8,911,263 issued and outstanding at June 30, 2015 and September 30, 2014, respectively	1,337,300	8,912
Additional paid-in capital	12,847,419	13,832,548
Deficit accumulated during the development stage	(15,602,962)	(12,964,414)
Accumulated other comprehensive income	505	505
Total stockholders' (deficit)	(1,317,738)	977,551
Total liabilities and stockholders' (deficit)	$ 2,198,007	$ 3,633,453