Oryon Technologies, Inc.

CIK:0001436164|SEC Filings

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
Consolidated Statements of Operations (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES
Product sales	$ 37,290	$ 46,576	$ 88,996	$ 99,559
Cost of goods sold	(16,257)	(38,882)	(26,469)	(48,484)
Gross profit	21,033	7,694	62,527	51,075
Other
Total revenues	21,033	7,694	62,527	51,075
OPERATING EXPENSES
Depreciation and Amortization	7,125	7,695	21,566	23,362
Total loss from operations	(112,939)	(306,891)	(1,167,671)	(1,044,557)
OTHER INCOME (EXPENSE)
Interest income			17
Interest expense	(7,884)	(9,904)	(23,537)	(28,461)
Total other income (expense)	(7,884)	(9,904)	(23,520)	(28,461)
NET LOSS BEFORE TAX	(120,823)	(316,795)	(1,191,191)	(1,073,018)
INCOME TAXES (see note 12)
NET LOSS AFTER TAX	(120,823)	(316,795)	(1,191,191)	(1,073,018)
Loss per share: basic and diluted	$ 0.00	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average shares outstanding	252,333,438	62,660,778	225,893,097	62,660,778
Applications Development [Member]
OPERATING EXPENSES
Wages	7,128	31,566	34,306	100,278
Payroll taxes and benefits	2,424	5,170	11,429	17,279
Materials, equipment, services	9,345	25,017	150,769	103,954
Office and overhead	1,176	2,025	9,513	13,660
Total applications development expenses	20,073	63,778	206,017	235,171
Sales and Marketing [Member]
OPERATING EXPENSES
Wages		18,000		54,000
Payroll taxes and benefits		1,389		4,185
Office and overhead		5,640	14,829	13,561
Outside services		6,000	6,000	7,000
Travel and entertainment			8,076	8,070
Total sales and marketing expenses		31,029	28,905	86,816
General and Administrative [Member]
OPERATING EXPENSES
Wages	2,000	39,540	83,435	179,538
Payroll taxes and benefits	5,234	22,033	31,593	128,885
Office and overhead	23,743	35,993	94,613	104,477
Outside services	75,566	106,208	744,244	327,387
Travel and entertainment	231	8,309	19,825	9,996
Total general and administrative expenses	$ 106,774	$ 212,083	$ 973,710	$ 750,283

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
Consolidated Statements of Cash Flows (USD $)	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,191,191)	$ (1,073,018)
Adjustments to reconcile net loss to net cash used in operating activities:
Noncash interest expense on short-term notes	22,124	21,470
Stock-based compensation expense	24,829	130,695
Depreciation and amortization	21,568	23,361
Changes in operating assets and liabilities:
Accounts receivable - decrease (increase)	(8,867)	(21,587)
Inventory - decrease (increase)	(32,929)	(6,916)
Other current assets - decrease (increase)	8,716	1,252
Other long-term assets - decrease (increase)	(435)	455
Accounts payable - increase (decrease)	353,654	220,130
Deferred revenues - increase (decrease)		(6,000)
Deferred compensation - increase (decrease)	(385,432)	170,964
Other current liabilities - increase (decrease)	77,660	(17,045)
Net cash used in operating activities	(1,110,303)	(556,239)
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term advances and increase in other short-term debt	49,716	418,168
Repayment of short-term debt and notes payable	(205,144)	(22,197)
Settlement of short-term debt by issuance of equity	(390,000)
Conversion of investor short-term advances into equity	(310,670)
Equity issued in conversion of investor short-term advances	310,670
Net cash proceeds from issuance of equity	939,330
Issuance of equity in settlement of short-term debt and other liabilities	695,250
Net cash provided by financing activities	1,089,152	395,971
Net increase (decrease) in cash and cash equivalents	(21,151)	(160,268)
Cash and cash equivalents, beginning of period	44,741	169,678
Cash and cash equivalents, end of period	23,590	9,410
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	1,414	5,692
Debt and accrued interest converted to equity	$ 1,005,920

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash	$ 23,590	$ 44,741
Accounts Receivable, net of allowance for doubtful accounts of $0 and $0, respectively	30,049	21,182
Inventory (see note 2)	133,860	100,931
Other current assets		8,716
Total current assets	187,499	175,570
PROPERTY AND EQUIPMENT, NET (see note 3)	9,481	13,736
INTANGIBLE ASSETS, NET (see note 4)	97,340	114,652
OTHER LONG-TERM ASSETS (see note 5)	17,132	16,697
TOTAL ASSETS	311,452	320,655
CURRENT LIABILITIES
Accounts payable	731,839	378,184
Deferred compensation (see note 6)	1,541	386,973
Current portion of promissory notes and other short-term debt (see note 7)	429,703	1,149,521
Other current liabilities (see note 8)	107,408	29,748
Total current liabilities	1,270,491	1,944,426
NOTES PAYABLE, NET (see note 9)		114,156
Total liabilities	1,270,491	2,058,582
SHAREHOLDERS' EQUITY
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding (see note 13)
Common stock, $0.001 par value, 600,000,000 shares authorized, 252,333,438 and 62,660,778 shares issued and outstanding (see note 13)	252,334	62,661
Paid in capital	12,058,271	10,277,865
Accumulated deficit	(13,269,644)	(12,078,453)
Total equity (deficit)	(959,039)	(1,737,927)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 311,452	$ 320,655