LivingVentures, Inc.

CIK:0001418506|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue	$ 477,842	$ 154,089	$ 739,857	$ 348,958
Cost of Revenue	(36,508)	(33,561)	(66,266)	(33,561)
Gross Profit	441,334	120,528	673,591	315,397
Operating Expenses
Professional Fees	36,946	70,313	105,096	150,124
Salary Expense	311,361	363,152	642,076	696,283
General and Administrative	157,728	155,321	350,620	391,922
Total Operating Expenses	506,035	588,786	1,097,792	1,238,329
Loss from Operations	(64,701)	(468,258)	(424,201)	(922,932)
Interest Expense	(20,164)	(36,719)	(40,478)	(44,215)
Net Loss before Provision for Income Taxes	(84,865)	(504,977)	(464,679)	(967,147)
Provision for Income Taxes		3,055
Net Loss	(84,865)	(501,922)	(464,679)	(967,147)
Net Loss, Attributable to Non-controlling Interests	12,115	5,919	29,483	40,379
Net Loss after Taxes and Non-controlling Interests	$ (72,750)	$ (496,003)	$ (435,196)	$ (926,768)
Net Loss Per Share - Basic and Diluted	$ 0.00	$ (0.01)	$ (0.01)	$ (0.02)
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	63,645,330	60,652,099	63,645,330	60,350,451

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Jun. 30, 2014	Jun. 30, 2013
Cash Flows from Operating Activities :
Net loss	$ (464,679)	$ (967,147)
Adjustments to Reconcile Net Loss to Net Cash Provided by (Used in) Operations :
Depreciation and Amortization	2,076	3,677
Change in Operating Assets and Liabilities:
(Increase) Decrease in Accounts Receivable	(12,387)	(13,427)
Decrease in Deferred Charges	15,839	46,785
Decrease in Deposits and Other Assets	17,026	103,839
Increase in Accounts Payable and Accrued Expenses	324,208	106,594
Net Cash Used in Operating Activities	(117,917)	(719,679)
Cash Flows from Investing Activities :
Purchase of Fixed Assets		(4,950)
Net Cash Provided (Used) in Investing Activities
Cash Flows from Financing Activities :
(Repayment) of Notes Payable	(63,532)	(59,029)
Proceeds of Notes Payable-Related Parties	89,719	265,000
(Repayment) of Shareholders' Advances	(18,227)	(8,473)
Proceeds from Issuance of Common Stock		368,082
Net Cash Provided by Financing Activities	7,960	565,580
Net Decrease in Cash	(109,957)	(159,049)
Cash at Beginning of Year	124,442	170,744
Cash at End of Period	14,485	11,695
Supplemental Disclosure of Cash Flows:
Interest paid	12,612	15,845
Taxes paid		13,660
Non cash item:
Principal amount of promissory notes converted to preferred stock	1,053,387
Accrued interest on promissory notes converted to preferred stock	63,341
Value of promissory notes and accrued interest converted to preferred stock	$ 1,116,728

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current Assets
Cash	$ 14,485	$ 124,442
Accounts Receivable	32,412	20,025
Deferred Charges	3,424	19,263
Deposits and Other Assets		17,026
Total Current Assets	50,321	180,756
Other Asset
Bank in Trust	57,832	19,623
Fixed Assets, net	2,464	4,540
Goodwill	1,685,931	1,685,931
Total Assets	1,796,548	1,890,850
Current Liabilities
Accounts Payable and Accrued Expenses	911,861	650,994
Lines of Credit		165,865
Notes Payable	409,187	306,854
Notes Payable - Related Party	190,000	535,827
Shareholders' Advance	62,051	130,278
Amount Due to Affiliates	242,786	242,786
Total Current Liabilities	1,815,885	2,032,604
Other Liabilities
Note Payable		582,560
Note Payable - Related Parties	264,719	250,000
Trust Fund Held	57,832	19,623
Total Liabilities	2,138,436	2,884,787
Stockholders' Deficit
Preferred Stock, $0.001 par value; 1,000,000 shares authorized, 111,673 shares issued as of June 30, 2014 and none as of December, 31, 2013	112
Common Stock, $0.001 par value; 100,000,000 shares authorized, 63,645,330 shares issued as of June 30, 2014 and December 31, 2013, respectively	63,645	63,645
Additional Paid-in Capital	4,734,363	3,617,747
Accumulated Deficit	(5,049,070)	(4,613,874)
Total Company's Stockholders' Deficit	(250,950)	(932,482)
Non-controlling Interests	(90,938)	(61,455)
Total Stockholders' Deficit	(341,888)	(993,937)
Total Liabilities and Stockholders' Deficit	$ 1,796,548	$ 1,890,850