Paradigm Resource Management Corp

CIK:0001405660|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue
Cost of revenue
Gross profit
Operating expenses:
General and administrative expenses	48,752	77,665	167,169	188,256
Professional fees	5,500	5,500	21,540	25,500
Total operating expenses	54,252	83,165	188,709	213,756
Loss from operations	(54,252)	(83,165)	(188,709)	(213,756)
Other income (expense)
Interest income		3,887		8,839
Interest expense	(15,273)	(20,256)	(41,103)	(33,124)
Total other income (expense)	(15,273)	(16,369)	(41,103)	(24,285)
Loss before income taxes	(69,525)	(99,534)	(229,812)	(238,041)
Provision for income taxes
Net loss	$ (69,525)	$ (99,534)	$ (229,812)	$ (238,041)
Net loss per share - basic and diluted	$ (0.16)	$ (0.23)	$ (0.53)	$ (0.55)
Weighted average number of shares outstanding - Basic and Diluted	431,991	431,991	431,991	431,991

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (229,812)	$ (238,041)
Changes in operating assets and liabilities:
Imputed interest on amounts due to shareholder	5,295
Accounts payable	91,256	94,123
Miscellaneous receivable	366
Interest payable	31,698	33,100
Accrued expenses	17,226	(4,207)
Prepaids and deposits		(11,679)
Net cash used in operating activities	(83,971)	(126,704)
Cash flows from financing activities:
Proceeds from line of credit	76,325	121,084
Accounts payable converted to line of credit	6,377
Net cash provided by financing activities	82,702	121,084
Net decrease in cash	(1,269)	(5,620)
Cash and cash equivalents at beginning of period	3,218	5,620
Cash and cash equivalents at end of period	1,949
Supplemental disclosure of cash flow information:
Cash paid for taxes
Cash paid for interest
Related party forgiveness of debt classified as additional paid in capital
Interest reclassed to Additional Paid in Capital, imputed interest	$ 5,295	$ 5,253

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 1,949	$ 3,218
Miscellaneous receivable other, net		366
Total current assets	1,949	3,584
Total assets	1,949	3,584
Current liabilities:
Accounts payable	266,597	175,341
Accrued expense	75,280	58,054
Line of credit, related party, current portion, net	269,286	192,961
Loan payable, short-term, related party	136,000	136,000
Accrued interest, including related party	88,229	56,531
Amount due to shareholder, related party	231,973	231,973
Total current liabilities	1,067,365	850,860
Line of credit, related party, net of current portion	143,763	137,386
Total liabilities	1,211,128	988,246
Stockholders' deficit:
Common stock	432	432
Additional paid-in capital	1,223,824	1,218,529
Treasury stock, at cost	(80)	(80)
Accumulated deficit	(2,433,355)	(2,203,543)
Total stockholders' deficit	(1,209,179)	(984,662)
Total liabilities and stockholders' deficit	$ 1,949	$ 3,584