DYNAMIC VENTURES CORP.

CIK:0001454384|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
REVENUE:
Contract revenue	$ 4,588,340	$ 1,039,990	$ 8,854,588	$ 1,317,101
Total revenue	4,588,340	1,039,990	8,854,588	1,317,101
COST OF REVENUE:
Cost of contract revenue	4,327,595	961,639	8,314,375	1,130,051
Total cost of revenue	4,327,595	961,639	8,314,375	1,130,051
GROSS MARGIN	260,745	78,351	540,213	187,050
OPERATING COSTS:
General and administrative	424,049	278,663	866,860	490,505
Depreciation and amortization	2,082	0	4,164	0
Total operating expenses	426,131	278,663	871,024	490,505
(LOSS) FROM OPERATIONS	(165,386)	(200,312)	(330,811)	(303,455)
OTHER INCOME (EXPENSE)	(348,141)	(10,028)	(412,158)	(13,363)
(LOSS) BEFORE TAXES	(513,527)	(210,340)	(742,969)	(316,818)
NET LOSS	$ (513,527)	$ (210,340)	$ (742,969)	$ (316,818)
NET LOSS PER COMMON SHARE FROM OPERATIONS:
Basic & Diluted	$ (0.01)	$ 0.00	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic & Diluted	57,049,133	50,029,670	56,335,625	50,014,917

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM ACTIVITIES:
Net income (loss)	$ (742,969)	$ (316,818)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	4,164	0
Amortization of deferred loan fees	127,395	0
Amortization of stock award agreement	8,335	0
Stock issued for financing fees	227,717	0
Stock issued for services	28,074	4,501
Changes in operating assets and liabilities:
Accounts receivable	(2,174,846)	(239,563)
Inventory	4,601	4,892
Prepaid job costs	34,108	(55,880)
Contracts in process	(37,632)	138
Deferred loan fees	(20,750)	0
Prepaid expenses and other assets	1,215	6,903
Accounts payable	1,893,551	372,303
Deferred income	0	(5,400)
Royalty payable - contracts	0	(29,181)
Customer deposits	9,322	348,411
Accrued liabilities	3,752	12,009
Net cash (used in operating activities	(633,963)	102,315
Purchases of property and equipment	0	(24,980)
Net cash used in investing activities	0	(24,980)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of convertible debt	0	120,000
Proceeds from issuance of debenture	750,000	0
Payment on debenture principal	(270,834)	0
Net cash provided by (used in) financing activities	479,166	120,000
Net increase (decrease) in cash and cash equivalents	(154,797)	197,335
CASH AND CASH EQUIVALENTS, beginning of period	539,933	155,513
CASH AND CASH EQUIVALENTS, end of period	385,136	352,848
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Stock issued for services	28,074	4,501
Stock issued for financing fees	227,717	0
Stock to be settled for deferred loan fees	300,000	0
Stock issued for deferred loan fees	125,000	0
Cash used for interest expense	$ 45,139	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 385,136	$ 539,933
Accounts receivable, net	4,372,588	2,197,742
Inventory	4,821	9,422
Prepaid job costs	0	34,108
Contract in process	37,632	0
Deferred loan fees	303,993	110,638
Prepaid and other current assets	15,530	16,745
Total current assets	5,119,700	2,908,588
Deferred equity costs	160,000	160,000
Property and Equipment, net	75,984	80,148
Total Assets	5,355,684	3,148,736
LIABILITIES AND EQUITY (DEFICIT)
Accounts payable	4,385,071	2,491,520
Customer deposits	359,322	350,000
Accrued liabilities	33,147	29,395
Debenture payable	770,833	291,667
Note payable maturities within one year	100,000	100,000
Note payable - related party	303,442	303,442
Shares settled financing fees	375,000	200,000
Total current liabilities	6,326,815	3,766,024
Commitments and contingencies
Total Liabilities	6,326,815	3,766,024
Equity (Deficit):
Common stock, 0.0001 par value, 190,000,000 and 200,000,000 shares authorized at June 30, 2012 and December 31, 2011, respectively, 58,804,127 and 55,622,117 shares issued and outstanding at June 30,2012 and December 31, 2011, respectively	5,467	5,163
Preferred Stock, 0.0001 par value, 10,000,000 and 0 shares authorized at June 30, 2012 and December 31, 2011, respectively and 0 shares issued and outstanding at June 30, 2012 and December 31, 2011, respectively
Additional paid-in capital	603,586	214,764
Accumulated (deficit)	(1,580,184)	(837,215)
Total ( deficit )	(971,131)	(617,288)
Total Liabilities and Equity (Deficit )	$ 5,355,684	$ 3,148,736