KollagenX Corp.

CIK:0001402486|SEC Filings

Consolidated Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Income Statement [Abstract]
Revenues, net	$ 27,475	$ 94,638	$ 162,885	$ 221,836
Cost of sales
Purchases	$ 5,909	$ 28,452	43,653	57,096
Freight			1,448	3,156
Total cost of sales	$ 5,909	$ 28,452	45,101	60,252
Gross profit	21,566	66,186	117,784	161,584
Operating expenses
Consulting	70,803	41,556	70,803	41,556
General and administrative	31,952	99,249	223,817	138,070
Management salaries	48,000	23,700	111,000	51,000
Trade shows	4,394	18,876	65,409	67,430
Wages	12,000	18,016	36,420	35,659
Total operating expenses	167,149	201,397	507,449	333,715
Loss from operations	$ (145,583)	$ (135,211)	(389,664)	$ (172,131)
Other expenses (income)
Derivative expense			105,739
Amortization of debt discount	$ 68,395		92,155
Change in fair market value of derivative liability	(20,669)		(69,423)
Interest	15,468	$ 1,420	42,861	$ 3,588
Total other expenses	63,194	1,420	171,332	3,588
Net loss	$ (208,777)	$ (136,631)	$ (560,996)	$ (148,528)
Loss per common share - basic and diluted	$ 0.00	$ 0.00	$ (0.01)	$ 0.00
Weighted average common shares outstanding - basic and diluted	52,000,000	54,000,000	53,010,909	54,000,000

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (560,996)	$ (148,528)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	386
Derivative expense	105,739
Amortization of debt discount	92,155
Change in fair market value of derivative liability	69,423
Amortization of consulting fees	60,003	$ 15,556
Changes in operating assets and liabilities:
Decrease in prepaid expenses	2,942
Decrease in inventory	16,377	$ 12,259
Decrease (increase) in accounts receivable	25,065	(15,499)
Increase in advances to vendors	$ (96,857)	(6,600)
Decrease (increase) in prepaid expense		(160,000)
Increase (decrease) in accounts payable and accrued liabilities	$ 57,832	24,116
Net cash used in operating activities	$ (366,777)	(278,696)
CASH FLOWS FROM INVESTING ACTIVITIES
Net assets acquired from acquisition		$ (140,873)
Property and equipment acquisitions	$ (800)
Cash used in investing activities	(800)	$ (140,873)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the sale of convertible notes payable	165,000
Funds derived (used) from increase (decrease) in notes payable	2,649	$ 302,537
Repayment (proceeds) of loan payables	(12,489)	65,711
Proceeds from (repayment) related party payable	245,456	47,695
Net cash provided by financing activities	400,616	415,943
Net increase (decrease) in cash and cash equivalents	33,039	(3,626)
Cash and cash equivalents, beginning of period	145	4,905
Cash and cash equivalents, end of period	33,184	1,279
Supplemental disclosure of cash flow information:
Interest paid	42,861	3,588
Income taxes paid	$ 302,537	$ 2,649

Consolidated Condensed Balance Sheets - USD ($)	Nov. 30, 2015	Feb. 28, 2015
Current Assets
Cash and cash equivalents	$ 33,184	$ 145
Accounts receivable - net	4,922	29,987
Inventory	51,666	68,043
Advance to vendors	103,457	6,600
Prepaid expenses and other current assets	67,440	130,385
Total Current Assets	260,669	235,160
Property and equipment
Equipment	19,581	18,781
Computer equipment	13,904	13,904
Less: accumulated depreciation	(31,612)	(31,226)
Property and equipment, net	1,873	1,459
Total Assets	262,542	236,619
Current Liabilities
Accounts payable and accrued expenses	117,510	59,676
Loans payable	153,135	165,624
Notes payable	166,983	164,334
Related party payable	432,197	$ 186,741
Derivative liability	201,316
Convertible notes payable, net	343,695	$ 251,537
Total Current Liabilities	1,414,833	827,912
Stockholders' Deficit
Common stock, ($0.001 par value, 750,000,000 shares authorized; 52,000,000 shares issued and outstanding as of November 30 and 54,000,000 February 28, 2015, respectively	52,000	54,000
Additional paid-in capital	(179,873)	(181,873)
Accumulated deficit	(1,024,416)	(463,420)
Total Stockholders' Deficit	(1,152,289)	(591,293)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$ 262,542	$ 236,619