Card Activation Technologies Inc

CIK:0001384522|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended		9 Months Ended
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
REVENUE
Litigation revenue	$ 0	$ 0	$ 0	$ 264,000
Total	0	0	0	264,000
COSTS AND EXPENSES
Cost of Revenue	0	0	0	92,400
General and administrative	74,490	832,313	261,449	1,625,235
Total operating expenses	74,490	832,313	261,449	1,717,635
OPERATING INCOME (LOSS)	(74,490)	(832,313)	(261,449)	(1,453,635)
OTHER (INCOME) AND EXPENSES
Interest income	(14,752)	(13,298)	(43,633)	(40,205)
Interest expense	1,109	349	2,575	1,039
Total other (income) expense	(13,643)	(12,949)	(41,058)	(39,166)
INCOME (LOSS) BEFORE INCOME TAXES	(60,847)	(819,364)	(220,391)	(1,414,469)
INCOME TAX (BENEFIT) PROVISION	0	0	0	0
NET INCOME (LOSS)	$ (60,847)	$ (819,364)	$ (220,391)	$ (1,414,469)
Weighted Average Common Share Outstanding:
Basic and diluted: (in shares)	183,813,489	177,755,897	183,758,138	176,650,105
Net Income (Loss) Per Share
Basic and diluted: (in dollars per share)	$ 0.00	$ 0.00	$ 0.00	$ (0.01)

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (220,391)	$ (1,414,469)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Discount on common stock issued under subscription agreements	40,965	82,994
Reserve for bad debts	18,633	15,168
Changes in assets and liabilities:
Accounts payables	44,371	1,254,711
Accrued expenses and disputed liabilities	2,576	(1,099)
Net cash provided by (used in) operating activities	(113,846)	(62,695)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances to affiliates	(18,633)	(118,669)
Proceeds from note payable	45,000	0
Proceeds from the sale of common stock, net	53,900	141,325
Cash received from subscription of common stock	0	9,000
Advances from affiliates	0	103,501
Net cash provided by (used in) financing activities	80,267	135,157
INCREASE IN CASH	(33,579)	72,462
CASH, BEGINNING OF YEAR	49,750	0
CASH, END OF YEAR	16,171	72,462
Supplemental Cash Flow Information:
Issuance of subscribed stock	0	35,250
Common stock received as loan repayment	$ 0	$ 695,777

CONDENSED BALANCE SHEETS (UNAUDITED) (USD $)	Jun. 30, 2012	Sep. 30, 2011
CURRENT ASSETS
Cash	$ 16,171	$ 49,750
Advances to affiliate	0	0
Total current assets	16,171	49,750
TOTAL ASSETS	16,171	49,750
CURRENT LIABILITIES:
Accounts payable	2,248,726	2,204,355
Accrued expenses	16,101	13,525
Note payable	45,000	0
Disputed liabilities	20,000	20,000
Total current liabilities	2,329,827	2,237,880
TOTAL LIABILITIES	2,329,827	2,237,880
STOCKHOLDERS' EQUITY:
Preferred stock, $.001 par value, 1,000,000 shares authorized; none issued and outstanding as of June 30, 2012 and September 30, 2011, respectively	0	0
Common stock, $.0001 par value, 300,000,000 shares authorized; 186,244,518 and 174,782,045 shares issued and outstanding as of June 30, 2012 and September 30, 2011, respectively	18,625	18,008
Additional paid-in capital	1,189,964	1,095,716
Accumulated deficit	(3,522,245)	(3,301,854)
Total stockholders' equity	(2,313,656)	(2,188,130)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 16,171	$ 49,750