$CBMJ

CONSERVATIVE BROADCAST MEDIA & PUBLISHING, INC.

CIK:0001452583|SEC Filings

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations (USD $)	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Operating expenses:
General and administrative	$ 1,525,539	$ 1,189,594	$ 1,634,472	$ 1,493,503
Depreciation expense	6,251	6,257	12,502	13,262
Total operating expenses	1,531,790	1,195,851	1,646,974	1,506,765
Net operating loss	(1,531,790)	(1,195,851)	(1,646,974)	(1,506,765)
Other income (expenses):
Other income		500		500
Interest expense	(111,687)	(184,931)	(117,605)	(276,469)
Gain (loss) on disposal of fixed assets				8,882
Modification expense		(105,077)		(105,077)
Gain on derivative financial instruments	911,943		911,943
Total other income (expenses)	800,256	(289,508)	794,338	(372,164)
Net loss	$ (731,534)	$ (1,485,359)	$ (852,636)	$ (1,878,929)
Basic and diluted - net loss per common share	$ (0.02)	$ (0.05)	$ (0.02)	$ (0.06)
Basic and diluted - weighted average common shares outstanding	36,690,823	32,434,761	38,029,303	32,032,953

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
Consolidated Statements of Cash Flows (USD $)	Jun. 30, 2011	Jun. 30, 2010
Cash flows from operating activities:
Net loss	$ (852,636)	$ (1,878,929)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	12,502	13,262
Debt discount amortization	111,687	148,000
Stock issued for services		22,500
Stock issued for interest		124,712
Loss on settlement of payables	156,835
Derivative gain	(911,943)
Stock-based compensation	1,050,000	992,001
Debt modification		105,077
Gain on disposal of fixed assets		(8,882)
Changes in operating assets and liabilities:
Current assets	350
Interconnect application deposits	23,642	(145,800)
Accounts payable	(22,966)	63,772
Accrued expenses	30,418	148,497
Net cash used in operating activities	(402,111)	(415,790)
Cash flows from investing activities:
Proceeds from disposal of fixed assets		32,288
Net cash provided by investing activities		32,288
Cash flows from financing activities:
Proceeds from stockholder loans	409,538	230,000
Payments on stockholder loan		(25,000)
Proceeds from notes payable	25,000
Net proceeds of private placement		175,000
Payments on officer loan	(7,363)	(13,000)
Net cash provided by financing activities	427,175	367,000
Net increase (decrease) in cash and cash equivalents	25,064	(16,502)
Cash and cash equivalents, beginning of period	18	17,322
Cash and cash equivalents, end of period	25,082	820
Cash paid during the year for:
Interest paid	5,918	3,757
Taxes paid
Noncash transactions:
Accrued compensation converted to common stock	108,333
Accounts payable converted to commons stock	175,665
Stockholder loan payable converted to common stock		20,000
Reclassification of warrants from additional paid-in capital to derivative liabilities	2,082,565
Unamortized debt discount		148,000
Debt discount from derivative liabilities	$ 136,687

Consolidated Balance Sheets (USD $)	Jun. 30, 2011	Dec. 31, 2010
Current Assets:
Cash and cash equivalents	$ 25,082	$ 18
Other current assets	300	650
Total current assets	25,382	668
Other assets:
Interconnect application deposits	168,311	191,953
Property and equipment, net of accumulated depreciation of $83,644 and $71,142	104,415	116,917
Total other assets	272,726	308,870
Total assets	298,108	309,538
Current liabilities:
Accounts payable	277,520	476,151
Accrued expenses	461,945	539,860
Stockholder loan payable	205,000	205,000
Due to stockholder	409,538
Convertible note, net of discount of $25,000 and $0, respectively
Due to officer	26,628	33,991
Derivative liabilities	2,357,309
Total current liabilities	3,737,940	1,255,002
Total liabilities	3,737,940	1,255,002
Stockholders' deficit:
Preferred stock, $0.001 par value, 25,000,000 shares authorized none issued and outstanding
Common stock, $0.001 par value, 300,000,000 shares authorized 38,110,805 and 34,660,805 issued and outstanding, respectively	38,111	34,660
Additional paid-in capital	5,193,679	6,838,862
Accumulated deficit	(8,671,622)	(7,818,986)
Total stockholders' deficit	(3,439,832)	(945,464)
Total liabilities and stockholders' deficit	$ 298,108	$ 309,538