LIVEWIRE ERGOGENICS INC.

CIK:0001421289|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income:
Sales	$ 4,980	$ 22,087	$ 32,915	$ 203,887
Cost of goods sold	3,132	6,031	30,316	125,673
Gross Profit	1,848	16,056	2,599	78,214
Operating Expenses:
Selling costs	661	(122)	2,081	52,736
General and administrative costs	73,232	282,050	313,450	2,571,062
Depreciation	1,094	1,245	3,246	3,513
Total Operating Expenses	74,987	283,173	318,777	2,627,311
Loss from operations	$ (73,139)	(267,117)	(316,178)	(2,549,097)
Other Expenses (Income):
Other expense		$ (44,523)	27,323	$ 172,040
Loss on change in fair value of derivative liability	$ 64,606		$ 62,960
Loss on settlement of debt		$ 45,493		$ 82,281
Amortization of beneficial conversion feature	$ 13,845	63,446	$ 93,218	179,214
Interest expense	9,920	4,921	34,768	644,677
Total other expenses	88,371	69,337	218,269	1,078,212
Net Loss Before Provision for Income Taxes	$ (161,510)	$ (336,454)	$ (534,447)	$ (3,627,309)
Provision for income tax
Net Loss	$ (161,510)	$ (336,454)	$ (534,447)	$ (3,627,309)
Basic and diluted loss per share	$ 0.00	$ 0.00	$ 0.00	$ (0.03)
Weighted average shares outstanding - basic and diluted	301,003,741	142,431,535	225,911,274	125,788,803

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows From Operating Activities:
Net loss	$ (534,447)	$ (3,627,309)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	$ 3,246	3,513
Net loss on settlement of debt		$ 82,281
Change in fair value of derivative liability	$ 62,960
Amortization of beneficial conversion feature	93,218	$ 179,214
Amortization of prepaid consulting fees	$ 233,081	230,351
Common stock issued for services		140,000
Common stock issued for interest expense		$ 614,200
Default penalty on convertible notes payable	$ 26,725
Stock based compensation		$ 1,751,184
Write off of subscription receivable		45,000
Bad debt provision	$ 9,112	42,069
Discount on issuance of common stock		80,600
Change in operating assets and liabilities:
Accounts receivable, net	$ 335	(89,605)
Due to others	1,600	200
Inventory, net	$ 11,456	(84,855)
Prepaid and other current assets		(91,387)
Accounts payable and accrued expenses	$ 37,266	(9,874)
Accounts payable - related party		(30,000)
Deferred revenue		89,342
Net cash used in operating activities	$ (55,448)	(675,076)
Cash Flows From Investing Activities
Purchase of equipment		(5,001)
Cost incurred in connection with Apple Rush transaction		(64,549)
Payments towards security deposits		(23,430)
Net cash used in investing activities		(92,980)
Cash Flows From Financing Activities
Proceeds from notes payable	$ 16,000	160,000
Repayment of note payable		(20,500)
Proceeds from convertible notes payable	$ 38,000	215,000
Repayment of notes payable - related party		(10,000)
Proceeds from issuance of common stock		424,300
Net cash provided by financing activities	$ 54,000	768,800
Net (Decrease) Increase in Cash	(1,448)	744
Cash at Beginning of Period	$ 1,448	8,342
Cash at End of Period		$ 9,086
Supplemental Disclosure of Cash Flow Information
Cash paid for interest
Cash paid for income taxes
Non Cash Investing and Financing Activities
Beneficial conversion feature on convertible notes	$ 38,000	$ 215,000
Common stock issued for payment of notes payable		50,000
Common stock issued for payment of convertible notes payable	$ 206,975	250,300
Conversion of interest to note payable		6,760
Conversion of debt to Class A common stock		20,596
Conversion of Class A common stock to common stock		100
Accounts payable and accrued expenses settled by issuance of common stock		15,093
Conversion of accounts payable - related party to notes payable - related party		206,341
Convertible note issued for prepaid consulting services	$ 125,000	364,560
Conversion of Series B preferred stock to common stock		$ 10
Common stock issued for conversion of interest	$ 2,395
Extinguishment of derivative liability	$ 59,384

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents		$ 1,448
Accounts receivable, net		9,447
Inventory, net	$ 35,672	47,128
Prepaid and other current assets	112,310	$ 220,391
Security deposits	23,430
Total current assets	171,412	$ 278,414
Property and equipment, net	$ 4,553	7,799
Security deposits		23,430
Total assets	$ 175,965	309,643
CURRENT LIABILITIES
Accounts payable and accrued expenses	188,241	153,370
Deferred revenue	79,342	79,342
Due to others	24,615	23,015
Notes payable	251,700	235,700
Notes payable - related party	196,341	196,341
Convertible debentures, net	282,746	244,778
Derivative liability	64,606	61,030
Total Liabilities	$ 1,087,591	$ 993,576
COMMITMENT AND CONTINGENCIES (SEE NOTE 8)
STOCKHOLDERS' DEFICIT
Preferred stock
Common stock	$ 41,627	$ 15,651
Additional paid-in-capital	7,715,640	7,434,862
Accumulated deficit	(8,668,896)	(8,134,449)
Total stockholders' deficit	(911,626)	(683,933)
Total liabilities and stockholders' deficit	175,965	309,643
Series B Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred stock	$ 3	$ 3
Series C Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred stock
Class A Common Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred stock