Eco-Tek Group, Inc.

CIK:0001473637|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Sep. 30, 2013	Sep. 30, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS [Abstract]
SALES	$ 136,803	$ 74,154	$ 70,749	$ 127,595	$ 264,398	$ 220,890
COSTS OF SALES	62,966	46,784	48,788	85,211	148,177	153,925
GROSS PROFIT	73,837	27,370	21,961	42,384	116,221	66,965
OPERATING EXPENSES
General and administrative	97,983	74,534	82,126	232,543	330,526	126,843
Salaries and wages	30,800	21,989	25,379	48,804	79,604	56,973
Selling and delivery		4,185	30,000	10,554	10,554	32,102
Depreciation	531	470	626	787	1,318	1,916
TOTAL OPERATING EXPENSES	129,314	101,178	138,131	292,688	422,002	217,834
Net loss from operations	(55,477)	(73,808)	(116,170)	(250,304)	(305,781)	(150,869)
Other expenses
Interest expense	(14,144)	(14,435)	(52,190)	(27,556)	(41,700)	(52,854)
Loss on debt extinguishment		(100,000)		(100,000)	(100,000)
Net loss for the period before income taxes	(69,621)	(188,243)	(168,360)	(377,860)	(447,481)	(203,723)
Income taxes
Net loss for the period	(69,621)	(188,243)	(168,360)	(377,860)	(447,481)	(203,723)
Foreign currency translation adjustment	(28,837)	35,170	(14,755)	44,715	15,878	(9,560)
Comprehensive loss	$ (98,458)	$ (153,073)	$ (183,115)	$ (333,145)	$ (431,603)	$ (213,283)
Loss per share, basic and diluted	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average number of common shares outstanding	251,153,133	251,153,133	250,819,800	251,153,133	250,934,574	169,542,046

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2013	Sep. 30, 2012
OPERATING ACTIVITIES
Net loss for the period	$ (447,481)	$ (203,723)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,318	1,916
Accretion expense on convertible debentures	4,722	46,250
Contributed services	36,862	53,670
Loss on debt extinguishment	100,000
Changes in operating assets and liabilities:
Accounts receivable	(46,471)	(26,824)
Inventory	(12,672)	(5,115)
Investment tax credit recoverable	9,955	(7,091)
Deposit and sundry assets	(3,581)	2,219
Accounts payable and accrued liabilities	56,205	(32,603)
Cash used in operating activities	(301,143)	(171,301)
INVESTING ACTIVITIES
Purchase of equipment		(302)
Restricted cash		30,051
Cash provided by investing activities		29,749
FINANCING ACTIVITIES
Notes payable	283,957
Convertible promissory notes payable		75,000
Advances from stockholders	(6,682)	69,999
Cash provided by financing activities	277,275	144,999
Effect of foreign currency translation adjustment	15,878	(9,560)
Net increase (decrease) in cash during the period	(7,990)	(6,113)
Cash, beginning of the period	12,836	6,878
Cash, end of period	4,846	765
Supplemental cash flow information:
Cash paid for interest		6,604
Cash paid income taxes

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets
Cash	$ 4,846	$ 12,836
Accounts receivable, net of allowance of $15,468 as of September 30, 2013 and December 31, 2012	84,360	37,889
Inventory	26,950	14,278
Investment tax credit recoverable		9,955
Deposits and sundry assets	7,428	3,847
Total current assets	123,584	78,805
Property and equipment	6,020	7,338
Total assets	129,604	86,143
Liabilities
Accounts payable and accrued liabilities	193,055	136,850
Notes payable [Note 6]	418,892	134,935
Convertible promissory notes payable	265,000	260,278
Advances from stockholders [Note 7]	467,568	474,250
Total current liabilities	1,344,515	1,006,313
Commitment
Stockholders' deficit
Preferred stock, $0.001 par value; 50,000,000 shares authorized, 1,000 share outstanding as of September 30, 2013 and December 31, 2012 [Note 8]	1	1
Common stock, $0.001 par value, 7,000,000,000 shares authorized and 251,153,133 shares issued and outstanding as of September 30, 2013 and 250,819,800 shares issued and outstanding December 31, 2012	251,153	250,820
Additional paid-in capital	999,771	863,242
Accumulated other comprehensive loss	(18,765)	(34,643)
Accumulated deficit	(2,447,071)	(1,999,590)
Total stockholders' deficit	(1,214,911)	(920,170)
Total liabilities and stockholders' deficit	$ 129,604	$ 86,143