Zentric, Inc.

CIK:0001457435|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Statements Of Operations
REVENUE
EXPENSES
General and administrative	$ 64,399	$ 72,519
Consulting and subcontracting	123,050	204,419
Operating Expense	187,449	276,938
Other Income (Expenses)
Interest Expense	(90,860)	(141,956)
Change in fair value of derivative	12,477	47,524
Total Other Expense	(78,383)	(94,432)
NET LOSS	$ (265,832)	$ (371,370)
BASIC AND DILUTED NET LOSS PER SHARE	$ 0.00	$ 0.00
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING BASIC AND DILUTED	623,580,272	253,192,316

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (265,832)	$ (371,370)
Adjustment to reconcile net loss to net cash provided by operating activities:
Common stock issued for services		47,400
Options issued for services		8,718
Change in fair value of derivative	$ (12,477)	(47,524)
Imputed interest on advance from shareholder	54,222	58,414
Amortization on note discount	34,317	79,283
Changes in operating assets and liabilities:
Related party payable	124,616	124,256
Accounts payable and accrued liabilities	33,314	29,912
NET CASH USED IN OPERATING ACTIVITIES	$ (31,840)	(70,911)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock		50,000
Borrowing on Convertible debt		76,500
Borrwings on debt - related party	$ 30,786	2,990
Principal payments on debt		(58,233)
NET CASH PROVIDED BY FINANCING ACTIVITIES	$ 30,786	71,257
NET INCREASE (DECREASE) IN CASH	(1,054)	346
CASH, BEGINNING OF PERIOD	1,407	1,061
CASH, END OF PERIOD	$ 353	1,407
NON-CASH INVESTING AND FINANCING ACTIVITIES
Forgiveness of related party debt		14,693
Settlement of derivative on conversion of debt	$ 47,628	114,452
Discount recognized on convertible note		76,500
Conversion of debt into common shares	$ 32,950	$ 79,040
Preferred stock issued for accrued salary related party	$ 60,000

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current Assets
Cash	$ 353	$ 1,407
Total Current Assets	353	1,407
Total Assets	353	1,407
Current Liabilities
Accounts payable and accrued liabilities	22,801	16,235
Related party payable	165,405	132,091
Advances from shareholder	380,449	349,663
Accrued salaries	387,650	330,050
Convertible Note, net of discount $0 and $34,317, respectively	11,500	9,683
Derivative liability	89,238	149,343
Note payable, related party	7,018	7,018
Total Liabilities	1,064,061	994,083
Stockholders' EQUITY (Deficit)
Common stock, $0.001 par value, 2,000,000,000 shares authorized; 788,160,824 and 343,380,524 shares issued and outstanding as of December 31, 2015 and 2014, respectively	788,162	343,382
Preferred stock A, $0.001 par value, 20,000,000 shares authorized: 6,000,000 and 4,000,000 issued and outstanding as of December 31, 2015 and December 31, 2014, respectively	6,000	4,000
Additional paid-in capital	1,611,727	1,863,707
Accumulated deficit	(3,469,597)	(3,203,765)
Total Stockholders' Equity (Deficit)	(1,063,708)	(992,676)
Total Liabilities and Stockholders' Equity (Deficit)	$ 353	$ 1,407