GRAPHITE CORP

CIK:0001420239|SEC Filings

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2015
Consolidated Statement Of Operations
REVENUES
EXPENSES
Accounting and legal	$ 56,444	$ 8,349	$ 8,349	$ 72,444
Consulting	106,354	$ 12,800	$ 12,800	456,410
Interest expense	16,734			23,052
Investor relations	$ 2,750			15,439
Research and development				101,617
Website costs				3,976
General and administrative	$ 4,418	$ 16,016	$ 16,016	21,475
Travel				19,612
TOTAL EXPENSES	$ 186,700	$ 37,165	$ 37,165	714,025
NET LOSS	$ (186,700)	$ (37,165)	$ (37,165)	$ (714,025)
BASIC AND DILUTED LOSS PER SHARE	$ (0.00)	$ 0.00	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED	196,122,505	83,289,339	66,957,716	195,776,985

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	4 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015
OPERATING ACTIVITIES
Net loss	$ (37,165)	$ (714,025)
Changes in non-cash items:
Consulting fees in stock payable		232,904
Amortization of license		5,984
Amortization of debt discount		17,248
Shares issued for services		47,945
Changes in operating assets and liabilities
Increase (Decrease) in accounts payable	$ (1,632)	7,067
Increase in accounts payable - related party	$ 4,257	214,686
Increase in accrued interest		5,804
Net Cash Used in Operating Activities	$ (34,540)	$ (182,387)
INVESTING ACTIVITIES
Effect of reverse merger	15,782
Cash paid for license	(100,000)
Net Cash provided by Investing Activities	(84,218)
FINANCING ACTIVITIES
Common stock issued for cash	$ 160,000
Increase in loans payable		$ 60,500
Increase in due to related party		1,000
Net Cash provided by Financing Activity	$ 160,000	61,500
Foreign currency adjustment	226	27
NET INCREASE (DECREASE) IN CASH	$ 41,468	(120,860)
CASH AT BEGINNING OF PERIOD		129,152
CASH AT END OF PERIOD	$ 41,468	$ 8,292
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
CASH PAID FOR: Interest
CASH PAID FOR: Income Taxes
NON CASH ITEMS:
Debt discount from inducement		$ 10,000
Debt discount from beneficial conversion feature		$ 28,311
Stock issued for reverse merger	$ 12,000

Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 8,292	$ 129,152
NON-CURRENT ASSETS
License, net of amortization of $5,984 and $0, respectively	34,016	40,000
TOTAL ASSETS	42,308	169,152
CURRENT LIABILITIES
Accounts payable	68,569	61,501
Accounts payable-related party	274,203	59,517
Accrued interest	10,276	4,472
Related party payable	15,776	14,776
Loan payable, net of discount of $23,063 and $0 respectively	47,437	10,000
Loan payable - default	35,000	35,000
Total Current Liabilities	451,261	185,266
Total Liabilities	$ 451,261	$ 185,266
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock: $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding as of September 30, 2015 and December 31, 2014
Common stock: $0.0001 par value, 300,000,000 shares authorized, 199,026,019 as of September 30, 2015 and 195,601,362 as of December 31, 2014	$ 19,902	$ 19,560
Stock payable	961,209	716,305
Additional paid-in capital	2,808,660	2,732,747
Other comprehense income	337	310
Accumulated deficit	(4,199,061)	(3,485,036)
Total Stockholders' Equity (Deficit)	(408,953)	(16,114)
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	$ 42,308	$ 169,152