VIRTUAL MEDICAL INTERNATIONAL, INC.

CIK:0001438650|SEC Filings

Consolidated Statements of Operations (USD $)	3 Months Ended
Consolidated Statements of Operations (USD $)	Mar. 31, 2012	Mar. 31, 2011
Total Revenues	$ 36,516
OPERATING EXPENSES:
Legal fees	13,230	4,614
Accounting fees	4,740	8,555
Office expense	3,119
License and fees	938	7,016
Consulting and outside services	35,539
Meals and entertainment	2,668
Travel and automobile	1,498
Website	5,485
Depreciation	30
Total operating expenses	67,247	20,185
OPERATING LOSS	(30,731)	(20,185)
OTHER EXPENSES:
Interest expense	(881)
Total other expenses	(881)
NET LOSS BEFORE OTHER COMPREHENSIVE LOSS	(31,612)	(20,185)
OTHER COMPREHENSIVE GAIN (LOSS)
Unrealized gain (loss) in investments available for sale	537,600	(672,000)
Total comprehensive income (loss)	537,600	(672,000)
COMPREHENSIVE INCOME (LOSS)	$ 505,988	$ (692,185)
Weighted average number of shares - basic and diluted (in Shares)	25,367,541	25,367,541
Basic and diluted net loss per share (in Dollars per share)	$ 0.00	$ 0.00

Consolidated Statement of Cash Flows (USD $)	3 Months Ended
Consolidated Statement of Cash Flows (USD $)	Mar. 31, 2012	Mar. 31, 2011
Cash Flows From Operating Activities
Net loss	$ (31,612)	$ (20,185)
Adjustments to reconcile net income (loss) to net cash
Depreciation	30
Changes in assets and liabilities:
Accounts payable and accrued expenses	(20,945)	(14,801)
Consulting payable – related party	2,312
Total Cash Used in Operating Activities	(50,215)	(34,986)
Cash Flows From Investing Activities
Purchase of fixed assets	(1,097)
Total Cash Used in Investing Activities	(1,097)
Cash Flows From Financing Activities
Notes payable	50,000
Notes payable - related party		34,986
Total Cash Provided by Financing Activities	50,000	34,986
Net Increase (Decrease) in Cash	(1,312)
Cash at Beginning of Period	2,123	100
Cash at End of Period	811	100
Non-Cash transactions from investing and financing activities
Mark to market valuation on investment	$ 537,600	$ (672,000)

Consolidated Balance Sheets (USD $)	Mar. 31, 2012	Dec. 31, 2011
CURRENT ASSETS
Cash	$ 811	$ 2,123
Total Current Assets	811	2,123
FIXED ASSETS
Equipment, net of accumulated depreciation of $30	1,067
OTHER ASSETS
Investment in securities available for sale, (net of market adjustment of $537,600 and $705,600, respectively)	672,000	134,400
Total Assets	673,878	136,523
CURRENT LIABILITIES:
Accounts payable	49,812	70,756
Consulting payable – related party	23,886	21,575
Note payable	54,000	4,000
Note payable - related party	51,553	51,553
Total Current Liabilities	179,251	147,884
Preferred stock, $.00001 par, 50,000,000 shares authorized, 44,479,500 shares issued and outstanding	445	445
Common stock, $.00001 par, 250,000,000 shares authorized 25,367,541 shares issued and outstanding, respectively	254	254
Additional paid-in capital	83,291,570	83,291,570
Accumulated other comprehensive loss	(168,000)	(705,600)
Accumulated deficit	(82,629,642)	(82,598,030)
Total Stockholders’ Equity (Deficit)	494,627	(11,361)
Total Liabilities and Stockholders’ Equity (Deficit)	$ 673,878	$ 136,523