RESOLUTE ONCOLOGY INC

CIK:0001470022|SEC Filings

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended		51 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Income Statement [Abstract]
Revenue	$ 189,148	$ 0	$ 251,343	$ 0	$ 251,343
Cost of Goods Sold	90,204	0	130,494	0	130,494
Gross Profit	98,944	0	120,849	0	120,849
Operating Expenses
Consulting	224,995	0	727,906	0	729,906
Debit discount interest expense	135,865	0	214,135	0	214,135
Discontinued business transaction	0	0	1,434,405	0	1,434,405
Exploration	0	0	0	500	6,390
Impairment of mineral interest	0	0	0	0	10,000
Legal and accounting	143,616	2,315	222,513	10,680	277,096
Rent	13,923	0	23,600	0	23,600
Salaries	181,076	0	282,381	0	282,381
Operation and administration	187,475	4,973	299,899	17,781	332,711
Total operating expense	886,950	7,288	3,204,839	28,961	3,310,624
Net loss from operations	(788,006)	(7,288)	(3,083,990)	(28,961)	(3,189,775)
Other income (expense)
Interest income	3	0	13	0	13
Interest expense	(434)	(380)	(1,403)	(703)	(2,535)
Total other income (expense)	(431)	(380)	(1,390)	(703)	(2,522)
Net loss prior to income tax	(788,437)	(7,668)	(3,085,380)	(29,664)	(3,192,297)
Income tax expense	0	0	0	0	0
Net loss	(788,437)	(7,668)	(3,085,380)	(29,664)	(3,192,297)
Gain (loss) translation adjustment foreign exchange	(16,936)	0	(24,682)	0	(24,682)
Comprehensive Net Loss	$ (805,373)	$ (7,668)	$ (3,110,062)	$ (29,664)	$ (3,216,979)
Loss per common share
Basic and diluted	$ (0.02)	$ 0	$ (0.08)	$ 0
Weighted average common shares
Basic and diluted	40,174,949	37,400,000	40,174,949	37,400,000

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended		51 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Cash flows from operating activities
Net loss	$ (3,085,380)	$ (29,664)	$ (3,192,297)
Adjustments to reconcile net income (loss) to net Cash used in operating activities
Debit discount interest expense	214,135	0	214,135
Depreciation	423	423	1,502
Changes in operating assets and liabilities:
Increase in goodwill	(603,574)	0	(603,574)
Increase in inventory	(40,964)	0	(40,964)
Increase in prepaid	(11,170)	0	(11,170)
Increase in accounts payable and accrued expenses	711,983	430	742,841
Increase (decrease) in accrued interest	1,404	703	2,536
Increase in payable on purchase	337,998	0	337,998
Increase in payroll payable	4,547	0	4,547
Decrease in other payable	(1,033)	0	(1,033)
Decrease in subscription payable	(1,208,000)	0	0
Net cash provided by (used in) operating activities	(3,679,631)	(28,108)	(2,545,479)
Cash flows from investing activities
Advance on business transaction	637,585	0	0
Cash paid for equipment	0	0	(1,690)
Net cash provided by (used) in investing activities	637,585	0	(1,690)
Cash flows from financing activities
Proceeds from related party payable	0	25,740	49,187
Payments to related party payable	(2,000)	0	(2,020)
Notes payable	75,000		575,000
Proceeds from convertible note payable	350,000	0	350,000
Proceeds from issuance of common stock	1,593,000	0	1,628,000
Net cash provided by financing activities	2,016,000	25,740	2,600,167
Effect of exchange rate changes on cash	(24,682)	0	(24,682)
Increase (decrease) in cash and cash equivalents	(1,050,728)	(2,368)	28,316
Cash and cash equivalents, beginning of year	1,079,044	2,457	0
Cash and cash equivalents, end of period	28,316	89	28,316
Supplement Disclosures:
Cash paid for interest	1,403	703	2,535
Cash paid for income tax	0	0	0
Supplement Non-Cash Investing and Financing Information:
Issuance of common stock to acquire a company	500,000	0	500,000
Intrinsic value of beneficial conversion feature of convertible	$ 271,730	$ 0	$ 271,730

Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets
Cash and cash equivalents	$ 28,316	$ 1,079,044
Advance on asset transfer	0	637,585
Inventory	40,964	0
Prepaid	11,170	0
Total current assets	80,450	1,716,629
Property and Equipment
Accumulated depreciation	(1,502)	(1,079)
Computer equipment	1,690	1,690
Total property and equipment	188	611
Other Assets
Goodwill	1,103,574	0
Total other assets	1,103,574	0
Total assets	1,184,212	1,717,240
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses	742,841	30,858
Accrued interest	2,536	1,132
Related party payable	47,167	49,167
Note payable	575,000	500,000
Convertible note payable, net	214,135	0
Payable on purchase	337,998	0
Payroll payable	4,547	0
Other payable	(1,033)	0
Stock subscription payable	0	1,208,000
Total current liabilities	1,923,191	1,789,157
Total liabilities	1,923,191	1,789,157
Commitments and Contingencies
Stockholders' Deficit
Common stock, $.001 par value, 412,000,000 shares authorized; 41,586,000 and 37,400,000 shares issued and outstanding, respectively	41,586	37,400
Additional paid-in capital	2,436,414	(2,400)
Deficit, accumulated during the development stage	(3,192,297)	(106,917)
Translation adjustment	(24,682)	0
Total stockholders' equity (deficit)	(738,979)	(71,917)
Total liabilities and stockholders' equity (deficit)	$ 1,184,212	$ 1,717,240