Attitude Drinks Inc.

CIK:0001416183|SEC Filings

CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Net revenues	$ 871,434	$ 21,907
Food and beverage costs	(55,635)
Product and shipping costs	(186,106)	(20,849)
GROSS PROFIT	629,693	1,058
Real Estate Loans:
Interest income earned	28,422	0
Interest expenses incurred	(28,422)	0
GROSS PROFIT	0	0
TOTAL GROSS PROFIT	629,693	1,058
OPERATING EXPENSES:
Administrative salaries, taxes and employee benefits	284,236	169,023
Administrative consulting fees	75,000	$ 75,000
World of Beer other expenses	202,488
World of Beer labor costs	259,387
Other general and administrative expenses	76,331	$ 46,588
Administrative marketing and promotion expenses	2,574	9,464
Administrative professional and legal fees	87,821	31,875
Product development costs	0	400
Depreciation and amortization	47,056	1,823
Total Operating Expenses	1,034,893	334,173
LOSS FROM OPERATIONS	(405,200)	(333,115)
OTHER INCOME (EXPENSE):
Interest and other financing costs	(684,518)	(194,878)
Deriviative expense	(2,038,679)	0
Gain from debt restructuring	1,612,910	0
Total Other Income (Expense)	(1,110,287)	(194,878)
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES	(1,515,487)	(527,993)
Minority interest	1,465,605	0
INCOME (LOSS) BEFORE PROVISION	0	0
NET INCOME (LOSS)	$ (49,882)	$ (527,993)
Basic income (loss) per common share (in dollars per share)	$ 0	$ 0
Diluted income (loss) per common share (in dollars per share)	$ 0	$ 0
Weighted average common shares outstanding - basic (in share)	2,011,266,510	338,533,990
Weighted average common shares outstanding - diluted (in share)	2,011,266,510	338,533,990
World of Beer [Member]
REVENUES:
Net revenues	$ 872,853	$ 0
Food and beverage costs		0
Phase III [Member]
REVENUES:
Net revenues	$ (1,419)	$ 21,907

CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)/income	$ (49,882)	$ (527,993)
Adjustment to reconcile net (loss)/income to net cash used in operating activities:
Depreciation and amortization	47,056	1,823
Issuance of warrants	(84)	0
Sale of companies to Harrison, Vickers and Waterman, Inc.	14,426	0
Issuance of convertible notes for past due services	75,000	262,000
Derivative expense	2,038,679	0
Fair value adjustment of convertible notes	241,930	(739,749)
Amortization of debt discount	247,007	668,344
Minority interest	(1,465,605)	0
Gain from debt restructuring	(1,612,910)	0
Changes in operating assets and liabilities:
Accounts receivable	2,999	(6,415)
Prepaid expenses and other assets	(35,798)	386
Inventories	8,353	18,979
Accounts payable and accrued liabilities	444,980	190,166
Net cash provided/(used) in operating activities	(43,849)	(132,459)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(7,615)	0
Dividends to World of Beer minority owners	(60,000)	0
Purchase of Harrison, Vickers and Waterman Inc. common stock	(65,000)	0
Net cash (used) in investing activities	(132,615)	$ 0
CASH FLOWS FROM FINANCING ACTIVITIES:
Loans payable from World of Beer minority owners	(107)
Proceeds from convertible notes payable	120,750	$ 62,700
Proceeds from short-term bridge loans payable	0	52,000
Proceeds from promissory notes	84,000	0
Other costs of financing	(35,000)	(2,500)
Net cash provided by financing activities	169,643	112,200
NET (DECREASE) IN CASH AND CASH EQUIVALENTS	(6,821)	(20,259)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	233,591	20,615
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 226,770	$ 356

CONSOLIDATED BALANCE SHEET (unaudited) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 226,770	$ 233,591
Accounts receivable	1,479	4,478
Real estate loans receivable	950,000	0
Inventories less reserve for abandoned property of $2,339 and allowance for obsolescence of $90,000 at June 30, 2015 and March 31, 2015	104,444	112,797
Prepaid expenses	41,353	1,150
TOTAL CURRENT ASSETS	1,324,046	352,016
FIXED ASSETS, NET	975,887	1,013,141
OTHER ASSETS:
Goodwill	4,038,945	0
Capitalized pre-opening costs - World of Beer	198,823	204,059
Deferred financing costs	67,889	0
Trademarks, net	4,462	4,537
Investment in Harrison, Vickers and Waterman Inc. common stock	65,000	0
Deposits and other assets	3,740	8,145
TOTAL OTHER ASSETS	4,378,859	216,741
TOTAL ASSETS	6,678,792	1,581,898
CURRENT LIABILITIES:
Accounts payable	1,803,023	1,911,005
Accrued liabilities	5,528,711	6,757,764
Derivative liabilities	6,400,232	1,868,857
Short-term bridge loans payable	115,000	115,000
Real estate loan payable	950,000	0
Convertible notes payable	5,999,845	6,999,295
Non-convertible notes payable	694,020	625,016
Loans payable -World of Beer Minority Owners	50,660	50,767
Loans payable to related parties	0	21,463
TOTAL CURRENT LIABILITIES	21,541,491	18,349,167
LONG TERM LIABILITIES:
Convertible notes payable	369,022	178,500
Minority interest	1,552,276	(3,391)
TOTAL LONG TERM LIABILITES	1,921,298	175,109
STOCKHOLDERS' (DEFICIT):
Series A and A-1 convertible preferred stock par value $0.00001 per share, 20,000,000 shares authorized, 9,000,051 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively	90	90
Common stock, par value $0.00001, 20,000,000,000 shares authorized and 2,309,624,423 and 1,161,193,362 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively	23,097	11,612
Additional paid-in capital	20,012,989	19,830,637
Deficit accumulated	(36,820,173)	(36,784,717)
TOTAL STOCKHOLDERS' (DEFICIT)	(16,783,997)	(16,942,378)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)	$ 6,678,792	$ 1,581,898