BIOSTEM U.S. CORP
CIK:0001455380|SEC Filings
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STATEMENTS OF OPERATIONS (Unaudited) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Nov. 30, 2012
|
Nov. 30, 2011
|
Nov. 30, 2012
|
Nov. 30, 2011
|
|
| Revenue | ||||
| Product | $ 218 | $ 652 | $ 962 | $ 94,058 |
| Royalty | 4,000 | 4,000 | ||
| Total revenue | 4,218 | 652 | 4,962 | 94,058 |
| Cost of goods sold | 423 | 38,489 | ||
| Gross profit | 4,218 | 652 | 4,539 | 55,569 |
| Selling, general and administrative expense | 576,941 | 260,507 | 3,575,704 | 1,771,344 |
| Loss from operations | (572,723) | (259,855) | (3,571,165) | (1,715,775) |
| Other income(expense) | ||||
| Interest income | 24 | 9 | 24 | |
| Interest expense | (6,590) | (13,234) | ||
| Total other income(expense) | (6,590) | 24 | (13,225) | 24 |
| Net loss | $ (579,313) | $ (259,831) | $ (3,584,390) | $ (1,715,751) |
| Loss per common share, Basic and diluted | $ (2.12) | $ (3.10) | $ (12.88) | $ (16.87) |
| Weighted average number of common shares outstanding | 273,635 | 83,854 | 278,235 | 101,590 |
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STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
|
9 Months Ended | |
|---|---|---|
|
Nov. 30, 2012
|
Nov. 30, 2011
|
|
| Cash flows from operating activities: | ||
| Net loss | $ (3,584,390) | $ (1,715,751) |
| Stock based compensation | 2,875,273 | 1,093,938 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (4,000) | |
| Inventory | 324 | |
| Prepaid | 11,702 | (4,559) |
| Accounts payable and accrued expense | 294,861 | 95,413 |
| Net cash used in operating activities | (406,554) | (530,635) |
| Cash flows from financing activities: | ||
| Sale of common stock | 27,500 | 246,000 |
| Notes payable - related parties | 375,000 | |
| Net cash provided by financing activities | 402,500 | 246,000 |
| Net increase(decrease)in cash | (4,054) | (284,635) |
| Cash at beginning of period | 4,202 | 287,126 |
| Cash at end of period | 148 | 2,491 |
| Supplemental schedule of cash flow information: | ||
| Interest paid | ||
| Income taxes paid | ||
| Noncash investing and financing | ||
| Settlement of accounts payable - related party | (46,899) | |
| Return of assets - related party | 10,500 | |
| Common stock returned and cancelled | $ (7) | $ (144) |
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Balance Sheets (Unaudited) (USD $)
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Nov. 30, 2012
|
Feb. 29, 2012
|
|---|---|---|
| ASSETS | ||
| Cash | $ 148 | $ 4,202 |
| Accounts receivable | 4,000 | |
| Prepaid | 11,702 | |
| Total current assets | 4,148 | 15,904 |
| Total assets | 4,148 | 15,904 |
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
| Accounts payable and accrued expense | 374,008 | 79,147 |
| Note payable - related party | 375,000 | |
| Advances-third party | 7,164 | 7,164 |
| Advances - related parties | 4,007 | 4,007 |
| Total current liabilities | 760,179 | 90,318 |
| Stockholders' deficit | ||
| Common stock, par value $0.001 authorized 600,000,000 shares,issued and outstanding 273,866 and 280,491 as November 30, 2012 and February 29, 2012, respectively | 274 | 281 |
| Additional paid-in capital | 6,374,323 | 3,471,543 |
| Accumulated deficit | (7,130,628) | (3,546,238) |
| Total stockholders' deficit | (756,031) | (74,414) |
| Total liabilities and stockholders' deficit | $ 4,148 | $ 15,904 |