Flameret, Inc.

CIK:0001472147|SEC Filings

Statements of Operations (USD $)	12 Months Ended		37 Months Ended
Statements of Operations (USD $)	Aug. 31, 2012	Aug. 31, 2011	Aug. 31, 2012
REVENUE	$ 0	$ 0	$ 0
OPERATING EXPENSES
General and administrative expenses	149,635	252,072	452,574
Impairment of intangible assets	0	500,000	500,000
Professional fees	190,494	4,891,171	5,514,442
Total Operating Expenses	340,129	5,643,243	6,467,016
LOSS FROM OPERATIONS	(340,129)	(5,643,243)	(6,467,016)
OTHER EXPENSES
Gain (Loss) on settlement of debt	2,597	(701,078)	(698,481)
Interest expense	(15,366)	(56,674)	(96,008)
Total Other Expenses	(12,769)	(757,752)	(794,489)
LOSS BEFORE INCOME TAXES	(352,898)	(6,400,995)	(7,261,505)
PROVISION FOR INCOME TAXES	0	0	0
NET LOSS	$ (352,898)	$ (6,400,995)	$ (7,261,505)
BASIC AND DILUTED LOSS PER SHARE	$ 0.00	$ (16.50)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED	179,111,617	388,047

Statements of Cash Flows (USD $)	12 Months Ended		37 Months Ended
Statements of Cash Flows (USD $)	Aug. 31, 2012	Aug. 31, 2011	Aug. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (352,898)	$ (6,400,995)	$ (7,261,505)
Adjustments to reconcile net loss to net used by operating activities:
Expenses paid on behalf of the Company by a related party	22,487	428,120	497,592
Impairment of intangible assets	0	500,000	500,000
Gain (Loss) on settlement of debt	(2,597)	701,078	698,481
Related party notes payable issued for services	0	60,000	385,000
Amortization of expenses prepaid with common stock	44,307	0	44,307
Notes payable issued for services	0	142,600	142,600
Preferred stock issued for services	36,000	790,738	826,738
Common stock issued for services	0	3,525,610	3,525,610
Changes in operating assets and liabilities:
Accounts payable	85,987	52,185	148,728
Accrued interest	14,001	56,674	94,643
Accrued salaries	100,001	100,000	290,001
Net Cash Used in Operating Activities	(52,712)	(43,990)	(107,805)
CASH FLOWS FROM INVESTING ACTIVITIES	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party payables	25,533	0	68,640
Payments toward related-party payables	(71,802)	34,240	(112,302)
Proceeds from notes payable	34,150	(40,500)	34,150
Proceeds from the sale of preferred stock	56,500	49,286	105,786
Proceeds from subscriptions receivable	8,500	0	8,500
Proceeds from the sale of common stock	0	714	714
Contributed capital	0	0	2,500
Net Cash Provided by Financing Activities	52,881	43,740	107,988
NET INCREASE (DECREASE) IN CASH	169	(250)	183
CASH AT BEGINNING OF PERIOD	14	264	0
NET CASH AT END OF PERIOD	183	14	183
CASH PAID FOR:
Interest	0	17,901	17,901
Income Taxes	0	0	0
NON CASH FINANCING ACTIVITIES:
Related party note payable issued for purchase of intangible assets	0	500,000	500,000
Preferred stock issued in conversion of debt	0	1,133,145	1,133,145
Common stock issued in conversion of debt	0	54,079	54,079
Common stock issued upon conversion of preferred stock	19,059	0	19,059
Common stock issued for prepaid services	47,250	0	47,250
Common stock issued for subscriptions receivable	$ 7,633	$ 0	$ 7,633

Balance Sheets (USD $)	Aug. 31, 2012	Aug. 31, 2011
CURRENT ASSETS:
Cash	$ 183	$ 14
Prepaid expenses	2,943	0
Total Current Assets	3,126	14
TOTAL ASSETS	3,126	14
CURRENT LIABILITIES
Accounts payable and accrued expenses	148,728	62,741
Accrued interest	92,046	80,642
Accrued salaries	290,001	190,000
Notes payable - related parties	147,935	151,717
Notes payable - non-related parties	182,650	168,500
Total Current Liabilities	861,360	653,600
STOCKHOLDERS' DEFICIT
Series A Preferred Stock, $0.0001 par value, 1,000,000 shares authorized, 10 shares issued and outstanding	1	1
Series B Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, 2,135,000 and 2,175,000 shares issued and outstanding, respectively	214	218
Series C Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding	0	0
Series D Preferred Stock, $0.0001 par value, 30,000,000 shares authorized, -0- shares issued and outstanding	0	0
Series E Preferred Stock, $0.0001 par value, 30,000,000 shares authorized, 1,945,614 and 2,066,124 shares issued and outstanding, respectively	195	207
Series F Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, 500,000 shares issued and outstanding	50	50
Common stock, $0.0001 par value, 500,000,000 shares authorized, 222,528,012 and 20,943,120 shares issued and outstanding, respectively	22,253	2,094
Additional paid-in capital	6,388,191	6,252,451
Stock subscriptions receivable	(7,633)	0
Deficit accumulated during the development stage	(7,261,505)	(6,908,607)
Total Stockholders' Deficit	(858,234)	(653,586)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 3,126	$ 14