Novagen Ingenium Inc.

CIK:0001425173|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
REVENUES
Sales	$ 14,938	$ 357
Cost of revenues		1,032
Gross profit (loss)	14,938	(675)
OPERATING EXPENSES
General and administrative expenses	364,372	291,569
Depreciation expense	3,964
Total operating expenses	368,336	291,569
Loss from operations	(353,398)	(292,244)
OTHER (EXPENSE)
Interest expense	(87,567)	(63,923)
Total other expense	(87,567)	(63,923)
Net loss	(440,965)	(356,167)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustment	13,534	112,808
Net comprehensive loss	$ (427,431)	$ (243,359)
Net loss per share, basic and diluted	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding, basic and fully diluted	48,710,901	48,510,901

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (440,965)	$ (356,167)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	70,000
Depreciation expense	3,964
Imputed interest	8,101	6,144
Change in operating assets and liabilities:
Accounts receivable		3,138
Accrued interest	75,616	38,017
Prepaid expenses and other current assets	2,033	(10,000)
Accounts payable and accrued expenses	167,849	38,464
Net cash used in operations	(113,402)	(280,404)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions of property and equipment	(11,891)
Restricted cash	(3,595)
Net cash used in investing activities	(15,486)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable	62,284	60,054
Proceeds from related-party notes payable	18,953	231,631
Payments on related-party notes payable	(1,450)	(13,260)
Net cash provided by financing activities	79,787	278,425
Effect of foreign exchange rates on cash and cash equivalents	47,152	(365)
Net change in cash and equivalents	(1,949)	(2,344)
Cash and equivalents, beginning of period	1,990	4,334
Cash and equivalents, end of period	41	1,990
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	758	22,163
Cash paid for income taxes
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES
Reclassification of notes payable to related party
Gain on disposal of subsidiary with related party		148,802
Expenses paid by related party	$ 97,280

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 41	$ 1,990
Restricted cash	3,595
Other current assets	7,922	10,000
Total current assets	11,558	11,990
Property and equipment, net of accumulated depreciation of $3,941 and $0 at December 31, 2016 and 2015, respectively	7,883
Total non-current assets	7,883
TOTAL ASSETS	19,441	11,990
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued liabilities	420,425	229,607
Notes payable	587,642	531,741
Notes payable, related parties	523,321	413,259
Total current liabilities	1,531,388	1,174,607
TOTAL LIABILITIES	1,531,388	1,174,607
STOCKHOLDERS' DEFICIT
Preferred stock, $0.0001 par value, 50,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.0001 par value; 100 million shares authorized, 48,710,901 and 48,510,901 shares issued and outstanding at December 31, 2016 and 2015, respectively	4,872	4,852
Additional paid-in capital	1,850,142	1,772,061
Accumulated other comprehensive gain (loss)	225,608	212,074
Common stock payable	17,550	17,550
Accumulated deficit	(3,610,119)	(3,169,154)
TOTAL STOCKHOLDERS' DEFICIT	(1,511,947)	(1,162,617)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 19,441	$ 11,990