OSLER Inc

CIK:0001403433|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Revenues [Abstract]
Net revenues - services	$ 50,693	$ 161,131	$ 202,579	$ 636,388
Cost of revenues - services	22,761	45,652	48,498	143,405
Gross profit	27,932	115,479	154,081	492,983
Operating expenses:
Marketing, selling and advertising expenses	1,082	37,696	2,881	125,545
Compensation expense	53,354	509,304	248,578	2,191,778
Professional fees	67,815	28,916	163,216	163,163
Consulting fees	10,434	211,940	59,446	443,460
General and administrative	39,467	125,556	116,388	326,646
Total operating expenses	172,152	913,412	590,509	3,250,592
Loss from operations	(144,220)	(797,933)	(436,428)	(2,757,609)
Other expense
Interest expense	(6,429)	(4,489)	(18,990)	(13,772)
Total other expense	(6,429)	(4,489)	(18,990)	(13,772)
Loss before provision for income taxes	(150,649)	(802,422)	(455,418)	(2,771,381)
Provision for income taxes	0	0	0	0
Net loss	$ (150,649)	$ (802,422)	$ (455,418)	$ (2,771,381)
WEIGHTED AVERAGE COMMON SHARES - Basic and Diluted	21,284,848	20,270,674	21,022,303	19,684,677
NET LOSS PER COMMON SHARE: OUTSTANDING - Basic and Diluted	$ (0.01)	$ (0.04)	$ (0.02)	$ (0.14)

STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (455,418)	$ (2,771,381)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Amortization and Depreciation	25,797	74,825
Bad debts	5,571	0
Stock based compensation	0	1,837,141
Changes in operating assets and liabilities
Accounts receivable	22,321	(57,557)
Inventory	(7,974)	68,899
Prepaid expenses and other current assets	(161,258)	7,755
Accounts payable and accrued liabilities	(55,461)	123,491
Customer deposit	250,000	0
Net cash used in operating activities	(376,422)	(716,827)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	0	(22,779)
Net cash used in investing activities	0	(22,779)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable	25,000	288,579
Proceeds from loans payable - related party	102,155	50,000
Proceeds from related party advances	13,762	95,500
Payments made for related party advances	0	(3,000)
Proceeds from issuance of common stock	235,010	292,367
Net cash provided by financing activities	375,927	723,446
Net decrease in cash	(495)	(16,160)
Cash at beginning of Period	10,437	24,885
Cash at end of Period	9,942	8,725
SUPPLEMENTAL DISCLOSURE OF CASH FLOWINFORMATION:
Cash Paid for Interest	793	0
Cash Paid for Income Taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issued a loan payable to a related party to prepay Polarchem products	75,000	0
Issued a note payable to settle accounts payable	0	20,000
Issuance of common stock in connection with asset purchase agreement	$ 0	$ 767,250

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash	$ 9,942	$ 10,437
Accounts receivable, net	26,325	54,217
Inventory	59,067	51,093
Prepaid expenses and other current assets	252,957	16,699
Total current assets	348,291	132,446
Other assets:
Property and equipment, net	50,926	76,723
Intangible assets, net	1,601	1,601
Deposit	3,500	3,500
Total other assets	56,027	81,824
Total assets	404,318	214,270
Current liabilities:
Accounts payable and accrued liabilities	414,830	470,301
Convertible notes payable - related parties	100,000	100,000
Notes payable	211,760	186,760
Notes payable - related party	436,690	436,690
Loans payable	50,000	$ 50,000
Loans payable - related party	177,165
Customer deposits	250,000	$ 0
Due to related parties	106,262	92,500
Total current liabilities	$ 1,746,707	$ 1,336,251
Commitments and contingencies (Note 7)
Stockholders' deficit:
Preferred stock, $0.001 par value, 5,000,000 shares authorized: none shares issued and outstanding	$ 0	$ 0
Common stock, $0.001, 75,000,000 shares authorized: 21,284,848 shares and 20,484,948 shares issued and outstanding at March 31, 2016 and June 30, 2015, respectively	21,285	20,485
Additional paid in capital	4,823,410	4,589,200
Accumulated deficit	(6,187,084)	(5,731,666)
Total stockholders' deficit	(1,342,389)	(1,121,981)
Total liabilities and stockholders' deficit	$ 404,318	$ 214,270