Saga Energy, Inc.

CIK:0001386765|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue		$ 25,200
Operating expenses	$ 106,308	248,883
Net loss	$ (106,308)	$ (223,683)
Net loss per common share:
Basic and diluted	$ 0.00	$ 0.00
Weighted average number of common shares outstanding:
Basic and diluted	49,100,000	49,102,937

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Cash Flows From Operating Activities:
Net loss	$ (106,308)	$ (223,683)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	$ 14,591	14,591
Cancellation of common stock		(223)
Changes in operating assets and liabilities:
Account receivable - related party		11,013
Prepaid expenses and other current assets		750
Accounts payable	$ 18,531	23,316
Accrued expenses	13,603	(13,048)
Net cash used in operating activities	$ (59,583)	(187,284)
Cash Flows From Investing Activities:
Purchase of oil field service equipment		(18,557)
Net cash provided by financing activities		(18,557)
Cash Flows From Financing Activities:
Proceeds from notes payable to related party	$ 53,001	166,530
Net cash provided by financing activities	53,001	166,530
Net increase (decrease) in cash	(6,582)	(39,311)
Cash at beginning of period	6,684	45,995
Cash at end of period	$ 102	$ 6,684
CASH PAID DURING THE YEAR FOR:
Interest
Income Taxes

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Current Assets:
Cash	$ 102	$ 6,684
Accounts receivable - related party	187	187
Total current assets	289	6,871
Oil field service equipment, net	71,958	86,549
Total assets	72,247	93,420
Current liabilities:
Accounts payable - Unrelated	5,980	19,852
Accounts payable - Related	85,873	53,470
Accrued expenses	20,178	6,575
Notes payable - related party	219,531	166,530
Total current liabilities	331,562	246,427
Total liabilities	$ 331,562	$ 246,427
Commitments and contingencies
Stockholders' deficit:
Preferred stock, -0- par value, 10,000,000 shares authorized, -0- shares Issued and outstanding at December 31,2013 and 2012, respectively
Common stock, -0- par value, 100,000,000 shares authorized; 49,100,000 shares issued and outstanding at December 31, 2013 and 2012, respectively	$ 544,972	$ 544,972
Accumulated deficit	(804,287)	(697,979)
Total stockholders' deficit	(259,315)	(153,007)
Total liabilities and stockholders' deficit	$ 72,247	$ 93,420