KORE NUTRITION, INC.

CIK:0001444064|SEC Filings

Statement of Operations (USD $)	3 Months Ended		6 Months Ended		49 Months Ended
Statement of Operations (USD $)	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011
Revenues
Revenues, net			$ 888		$ 365,917
Total Revenues			888		365,917
Cost of Goods Sold
Product purchases and production costs	2,032	11,477	4,132	11,477	143,225
Shipping and fulfillment costs					186,495
Total Cost of Goods Sold	2,032	11,477	4,132	11,477	329,720
Gross Profit (Loss)	(2,032)	(11,477)	(3,244)	(11,477)	36,197
Operating Expenses
Business development	151,480	190,362	229,383	209,450	8,137,590
General and administrative expenses	189,528	19,525	205,497	21,230	605,070
Marketing and sales expense	7,631	68,929	9,832	82,946	2,688,361
Outsource personnel					219,168
Professional fees	22,890	63,735	84,824	117,747	953,708
Total Operating Expenses	371,529	342,551	529,536	431,373	12,603,897
Loss Before Other Income (Expense)	(373,561)	(354,028)	(532,780)	(442,850)	(12,567,700)
Other Income (Expense)
Interest income					4,857
Interest expense	(913)	(392)	(59,616)	(14,487)	(351,753)
Write off of inventory					(85,769)
Extinguishments of debt					(695,665)
Loss on extinguishment of debt			(18,872)		(884)
Loss on settlement of debt					(22,500)
Impairment of trademark					(48,333)
Loss on fair value of derivative liability			(9,415)		(29,326)
Gain on foreign exchange	112		3		5,739
Total Other Income (Expense)	(801)	(392)	(87,900)	(14,487)	(1,223,634)
Net Loss	$ (374,362)	$ (354,420)	$ (620,680)	$ (457,337)	$ (13,791,334)
Basic Loss Per Common Share	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted Average Number Common Shares Outstanding	66,385,789	63,727,861	66,069,702	57,770,475

Cash Flows (USD $)	6 Months Ended		49 Months Ended
Cash Flows (USD $)	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011
Operating Activities
Net loss	$ (620,680)	$ (457,337)	$ (13,791,334)
Adjustments to reconcile net loss to cash flows provided (used) by operating activities:
Amortization			50,000
Accretion of debt discount	57,346		65,000
Bad debt expense			906
Forgiveness of debt			(203,326)
Discount on note payable			112,000
Loss on change in fair value of derivatives	9,415		29,326
Gain on extinguishment of debt			(17,988)
Write down of inventory			11,549
Stock issued for services	24,000		697,377
Stock based compensation	170,146		373,212
Loss on conversion of payables			793,165
Imputed interest on parent note			68,175
Change in assets and liabilities:
Accounts receivable			(907)
Inventory	4,708		(134,832)
Prepaid expense		(353,179)
Accounts payable	169,010	5,201	1,209,018
Accounts payable - related parties	38,400		269,058
Interest payable	(1,358)	(20,514)	444,159
Cash Flows Used in Operating Activities	(149,013)	(825,829)	(3,749,040)
Investing Activities
Cash received from reverse merger			511,382
Cash paid for purchase of trademark			(50,000)
Cash Flows From Investing Activities			461,382
Financing Activities
Proceeds from sale of common stock	189,717	950,000	1,569,500
Proceeds from debt issuances		130,455	2,139,517
Principal payments on debt, net	(40,000)	(152,000)	(410,704)
Payments to cancel shares		(40,000)
Cash Flows From Financing Activities	149,717	888,455	3,298,313
Cash Paid for Interest	22,500	35,000
Cash Paid for Income Taxes
Net Increase in Cash and Cash Equivalents	704	62,626	10,655
Cash at Beginning of Period	9,951	328
Cash at End of Period	10,655	62,954	10,655
Notes Converted	35,000	600,000	1,725,487
Extinguishment of Debt - Derivative Liability	94,326		104,326
Accounts Payable Converted			7,118,275
Accrued Liabilities Converted			$ 375,548

Statement of Financial Position (USD $)	Jun. 30, 2011	Dec. 31, 2010
Current Assets
Cash	$ 10,655	$ 9,951
Inventory	123,283	127,991
Total Current Assets	133,938	137,942
Total Liabilities	908,481	804,994
Total Assets	133,938	137,942
Current Liabilities
Accounts payable and accrued expenses	564,441	395,431
Accounts payable - related party	269,058	230,658
Interest payable	49,961	51,319
Notes payable - related party	25,021	35,021
Notes payable, net of unamortized debt discount		7,654
Derivative liabilities		84,911
Total Current Liabilities	908,481	804,994
Stockholders' Deficit
Preferred stock - $.001 par value, 50,000,000 shares authorized, no shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively
Common stock - $.001 par value, 150,000,000 shares authorized, 67,231,393 shares and 65,114,432 shares issued and outstanding at June 30, 2011 and December 31, 2010	67,232	65,115
Common stock payable	85,238	24,521
Additional paid-in capital	12,864,321	12,413,966
Deficit accumulated during the development stage	(13,791,334)	(13,170,654)
Total Stockholders' Deficit	(774,543)	(667,052)
Total Liabilities and Stockholders' Deficit	$ 133,938	$ 137,942