Windstream Technologies, Inc.

CIK:0001439133|SEC Filings

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 Statement [Abstract]
SALES	$ 1,732,507	$ 373,538	$ 2,821,149	$ 825,798
COST OF GOODS SOLD	1,564,746	685,528	2,349,329	1,235,126
GROSS (LOSS) PROFIT	167,761	(311,990)	471,820	(409,328)
OPERATING EXPENSES:
Research and development	$ 1,425	$ 91,666	$ 24,884	128,117
Write down of inventory				111,000
Stock compensation expense	$ 36,528	$ 39,898	$ 246,399	122,126
General and administrative expenses	1,202,565	827,196	3,583,921	2,178,365
TOTAL OPERATING EXPENSES	1,240,518	958,760	3,855,204	2,539,608
LOSS FROM OPERATIONS	$ (1,072,757)	(1,270,750)	(3,383,384)	(2,948,936)
OTHER INCOME (EXPENSE)
Other expense		(2,904)	(800)	(2,105)
Interest expense, net	$ (164,790)	$ (213,705)	(675,895)	$ (595,748)
Gain on change in fair value of derivative liabilities	326,258		888,011
TOTAL OTHER INCOME (EXPENSE)	161,468	$ (216,609)	211,316	$ (597,853)
NET LOSS	(911,289)	$ (1,487,359)	(3,172,068)	$ (3,546,789)
Non Controlling Interest	(228,780)		(206,999)
NET LOSS ATTRIBUTABLE TO WINDSTREAM TECHNOLOGIES	$ (682,509)	$ (1,487,359)	$ (3,172,068)	$ (3,546,789)
Net Loss Per Share - Basic and Diluted	$ 0.00	$ (0.02)	$ (0.02)	$ (0.04)
Weighted Average Shares Outstanding - Basic and Diluted	202,234,762	86,741,574	139,103,989	85,200,993

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Cash Flows from Operating Activities
Net loss	$ (682,509)	$ (1,487,359)	$ (3,172,068)	$ (3,546,789)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation			$ 103,202	93,325
Interest expense converted into Common Stock				7,422
Amortization of debt discount and deferred financing costs			$ 166,669	384,032
Write-down of inventory				$ 111,000	$ 111,000
Provision for bad debt			$ 10,000
Gain from change in fair value of derivative liabilities	$ (326,258)		(888,011)
Stock based compensation	36,528	$ 39,898	246,399	$ 122,126
Changes in assets and liabilities:
Accounts receivable			701,956	(82,384)
Inventories			(716,095)	(441,687)
Prepaid expenses			(209,763)	(211,584)
Deposits			(703)	(10,535)
Accounts payable			310,822	89,434
Accrued liabilities			713,089	178,118
Net cash used in operating activities			(2,734,503)	(3,307,522)
Cash Flows from Investing Activities
Purchase of property and equipment			(190,507)	(6,185)
Net cash used in investing activities			(190,507)	$ (6,185)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment on stock subscription receivable			799,505
Borrowings on line of credit, net			7,479	$ 1,349,756
Borrowings on short term debt			755,000	$ 200,000
Principal payments on short term debt			$ (125,750)
Proceeds from short term debt - related parties				$ 50,000
Payments on short term debt - related parties				$ (55,000)
Borrowings on long-term debt			$ 100,000
Principal payments on long term debt			(45,000)	$ (60,000)
Proceeds from issuance of convertible debt, net of discounts			$ 627,395	650,000
Net proceeds from issuance of Common Stock and Warrants				$ 1,248,856
Payment on investor note receivables			$ 389,211
Net cash provided by financing activities			2,507,840	$ 3,383,612
Net increase (decrease) in Cash and Cash Equivalents			(417,170)	69,605
Cash and Cash Equivalents, Beginning of Year			594,508	203,534	203,534
Cash and Cash Equivalents, End of Year	$ 177,338	$ 273,439	177,338	273,439	$ 594,508
Supplemental Cash Flows Information
Interest paid			385,139	51,468
Income taxes			$ 800	0
NON-CASH INVESTING AND FINANCING ACTIVITIES
Common stock and paid in capital resulting from non-cash conversions of convertible notes including interest expense and accrued interest				207,500
Debt discount on warrants issued with convertible debt				400,000
Debt discount on warrants issued with convertible debt - Typenex				511,460
Contributed capital				$ 50,000
Non-cash issuance of common stock			$ 2,570,719

Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 177,338	$ 594,508
Accounts receivable, net	305,566	1,017,522
Inventories	1,901,052	1,184,957
Prepaid expenses	287,112	77,349
Investor notes receivable	1,535,000	2,175,260
TOTAL CURRENT ASSETS	4,206,068	5,049,596
Property and equipment, net	340,945	253,640
OTHER ASSETS
Deposits	62,762	62,059
TOTAL ASSETS	4,609,775	5,365,295
CURRENT LIABILITIES
Accounts payable	1,465,105	1,154,283
Accrued liabilities	1,702,971	1,052,891
Short term debt - third parties	2,509,084	2,476,605
Current maturities of note payable	107,838	107,838
Convertible notes payable, net of unamortized debt discount of $0 and $166,668, respectively	2,180,364	3,041,332
Derivative liabilities	839,644	1,939,292
Short term debt - related parties	221,000	221,000
TOTAL CURRENT LIABILITIES	9,026,006	9,993,241
LONG TERM LIABILITY
Note payable, non-current	1,172,162	1,217,162
TOTAL LIABILITIES	10,198,168	11,210,403
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock; $0.001 par value; unlimited shares authorized; 392,921,528 and 88,617,154 shares issued and outstanding, respectively	173,562	87,283
Additional paid in capital	19,225,521	15,881,419
Accumulated deficit	(24,716,976)	(21,750,309)
Deficit attributable to Windstream Technologies, Inc.	(5,317,893)	(5,781,606)
Noncontrolling interest	(270,500)	(63,501)
TOTAL STOCKHOLDERS' DEFICIT	(5,588,393)	(5,845,108)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY DEFICIT	$ 4,609,775	$ 5,365,295