Bluforest Inc.

CIK:0001440172|SEC Filings

Statements of Operations (USD $)	3 Months Ended		9 Months Ended		66 Months Ended
Statements of Operations (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Income Statement [Abstract]
Revenue
Operating Expenses:
Impairment of property for developing carbon assets				75,000,000	75,000,000
Depreciation	257	267	784	508	1,561
Professional fees	100,079	78,539	325,859	150,757	840,422
Consulting fees	249,977	589,072	825,522	1,338,956	2,700,603
General and administrative expenses	30,498	52,946	84,975	210,324	323,746
Loss from continuing operations	(380,811)	(720,824)	(1,237,140)	(76,700,545)	(78,866,332)
Other income (expense):
Loss on shares issued to settle debt	(94,500)		(24,194,500)	(199,940,000)	(224,134,500)
Interest expense	(19,092)	(7,788)	(55,716)	(22,432)	(104,562)
Loss before discontinued operations	(494,403)	(728,612)	(25,487,356)	(276,662,977)	(303,105,394)
Loss from discontinued operations	(189)	(2,004)	(5,105)	(25,014)	(1,193,801)
Net Loss	(494,592)	(730,616)	(25,492,461)	(276,687,991)	(304,299,195)
Comprehensive loss
Net loss	(494,592)	(730,616)	(25,492,461)	(276,687,991)	(304,299,195)
Unrealized gain (loss) on securities	(46,500)		(55,500)		(649,500)
Foreign translation gain (loss)	(15,976)	(21,424)	19,645	(12,019)	28,378
Comprehensive loss	$ (557,068)	$ (752,040)	$ (25,528,316)	$ (276,700,010)	$ (304,920,317)
Net loss per share, basic and diluted
Continuing operations	$ 0.00	$ (0.01)	$ (0.28)	$ (3.71)
Discontinued operations	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average shares outstanding, basic and diluted	103,566,674	127,192,883	94,349,026	75,124,834

Statements of Cash Flows (USD $)	9 Months Ended		66 Months Ended
Statements of Cash Flows (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Cash flows from operating activities
Net loss	$ (25,492,461)	$ (276,687,991)	$ (304,299,195)
Add: loss (income) from discontinued operations	5,105	25,014	1,193,801
Adjustments to reconcile non-cash items to cash used by operations:
Stock based compensation	7,984	7,904	15,888
Impairment of property		75,000,000	75,000,000
Loss on stock issued to settle debt	24,194,500	199,940,000	224,134,500
Depreciation	784	508	1,561
Adjustments to reconcile net loss to cash used by operations:
Other receivables	(190)	(12,810)	(13,970)
Bank indebtedness		(15)	(15)
Accounts payable and accrued liabilities	438,375	353,396	1,435,429
Accounts payable, related parties	768,213	472,348	1,507,778
Damage deposit		(3,050)	(3,010)
Prepaid expenses		(739)	(414)
Net cash provided by (used in) continuing operations	(77,690)	(905,435)	(1,027,647)
Net cash provided by (used in) discontinued operations		(7,954)	(292,795)
Net cash provided by (used in) operating activities	(77,690)	(913,389)	(1,320,442)
Cash flows from Investing Activities
Purchase of equipment		(3,214)	(3,214)
Net cash provided by (used in) continuing operations		(3,214)	(3,214)
Net cash provided by (used in) discontinued operations
Net cash provided by (used in) investing activities		(3,214)	(3,214)
Cash flows from Financing Activities
Short term loan		476,026	870,570
Advances from related parties	76,597	581,069	277,021
Repayment advances from related parties		(180,356)	(180,356)
Shares issued from private placement		60,000	102,575
Net cash provided by (used in) continuing operations	76,597	936,739	1,069,810
Net cash provided by (used in) discontinued operations			245,206
Net cash provided by (used in) financing activities	76,597	936,739	1,315,016
Effects of foreign exchange	744	(12,020)	9,478
Increase (decrease) in cash during the period	(349)	8,116	838
Cash, beginning of period	1,187
Cash, end of period	838	8,116	838
Supplemental disclosure of cash flow information:
Interest
Income taxes
Stock options granted for consulting fees		7,904	7,904
Stock issued for acquisition of properties		773,875,000	773,875,000
Stock issued for debt settlements	900,000	200,000,000	200,900,000
Deferred revenue, reduction to accounts payable			83,000
Deferred revenue , acquisition of trading securities			660,000
Non cash transactions provided by discontinued operations	150,000	65,000	898,498
Total	$ 1,050,000	$ 973,947,904	$ 976,424,402

Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current
Cash	$ 838	$ 1,187
Other receivable	13,513	13,780
Damage deposit	2,911	3,010
Prepaid Expenses	701	714
Total Current Assets	17,963	18,691
Equipment, net	1,653	2,437
Property for developing carbon assets (Note 5)	698,875,000	698,875,000
Securities available for sale	10,500	66,000
Total Assets	698,905,116	698,962,128
LIABILITIES
Accounts payable and accrued liabilities	1,232,573	925,951
Accounts payable, related parties	737,222	739,565
Advances payable	855,203	870,570
Advances payable, related parties	96,003	20,069
Deferred revenue	743,000	743,000
Discontinued operations	239,471	385,497
Total Current Liabilities	3,903,472	3,684,652
STOCKHOLDERS DEFICIT
Capital stock, Authorized: $0.001 par value, 400,000,000 common shares authorized; 103,627,000 and 3,474,000 common shares issued and outstanding at September 30, 2013 December 31, 2012	103,627	3,474
Additional Paid-in Capital	999,818,334	974,666,003
Other comprehensive income (loss)	(621,122)	(585,267)
Accumulated deficit during the exploration stage	(1,193,801)	(1,188,696)
Accumulated deficit during the development stage	(303,105,394)	(277,618,038)
Total Stockholders Equity (Deficit)	695,001,644	695,277,476
Total Liabilities and Stockholders Equity (Deficit)	$ 698,905,116	$ 698,962,128