GLOBAL CONDIMENTS, INC.
CIK:0001478974|SEC Filings
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Consolidated Statements of Operations (Unaudited) (USD $)
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3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2013
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Sep. 30, 2012
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Sep. 30, 2013
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Sep. 30, 2012
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| Income Statement [Abstract] | ||||
| Revenue | $ 19,711 | $ 17,430 | $ 52,972 | $ 67,089 |
| Cost of Revenues | 14,364 | 13,905 | 41,953 | 52,405 |
| Gross Profit | 5,347 | 3,525 | 11,019 | 14,684 |
| Operating Expenses: | ||||
| General and Administrative | 9,978 | 13,627 | 42,245 | 66,293 |
| Selling and Advertising Expenses | 2,741 | 491 | 13,291 | 3,101 |
| Depreciation and Amortization | 0 | 608 | 406 | 1,826 |
| Total Operating Expenses | 12,719 | 14,726 | 55,942 | 71,220 |
| Operating Loss | (7,359) | (11,148) | (44,866) | (56,235) |
| Other Income | ||||
| Interest Income | 13 | 53 | 57 | 301 |
| Total Other Income | 13 | 53 | 57 | 301 |
| Net Loss | $ (7,359) | $ (11,418) | $ (44,866) | $ (56,235) |
| Basic and Diluted Loss per Share | $ 0.00 | $ 0.00 | $ (0.01) | $ (0.01) |
| Weighted Average Shares Outsstanding: Basic and Diluted | 7,581,736 | 7,581,736 | 7,581,736 | 7,581,736 |
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Consolidated Statements of Cash Flows (Unaudited) (USD $)
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9 Months Ended | |
|---|---|---|
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Sep. 30, 2013
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Sep. 30, 2012
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| Statement of Cash Flows [Abstract] | ||
| Net Loss | $ (44,866) | $ (56,235) |
| Adjustments to reconcile net loss to net cash used by operating activities: | ||
| Depreciation Expense | 406 | 1,826 |
| Changes in Assets and Liabilities: | ||
| Accounts Receivable | 5,081 | 4,490 |
| Other Current Assets | (2,358) | (7,549) |
| Accounts Payable - Related Party | 7,479 | (5,842) |
| Accounts Payable - Trade | (7,245) | 324 |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | (41,503) | (62,986) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (41,503) | (62,986) |
| CASH AND CASH EQUIVALENTS, BEGINING OF YEAR | 100,246 | 169,371 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | 58,743 | 106,385 |
| SUPPLEMENTAL DISCLOSURES | ||
| Cash paid during the period for Interest Expense | 0 | 0 |
| Cash paid during the period for Taxes | $ 0 | $ 0 |
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Consolidated Balance Sheets (Unaudited) (USD $)
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Sep. 30, 2013
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Sep. 30, 2012
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|---|---|---|
| ASSETS | ||
| Cash | $ 58,743 | $ 100,246 |
| Accounts Receivable, net | 1,631 | 6,712 |
| Other Current Assets | 2,858 | 0 |
| Total Current Assets | 62,732 | 106,958 |
| Fixed Assets, net | 0 | 406 |
| TOTAL ASSETS | 62,732 | 107,364 |
| Current Liabilities | ||
| Accounts Payable - Related Party | 13,374 | 5,895 |
| Accounts Payable - Trade | 2,596 | 9,841 |
| Total Current Liabilities | 15,970 | 15,736 |
| TOTAL LIABILITIES | 15,970 | 15,736 |
| Stockholder's Equity | ||
| Preferred Stock, par value $0.001, 20,000,000 authorized, 0 issued and outstanding at March 31, 2012 and December 31, 2011 | 0 | 0 |
| Common Stock, par value $0.001, 50,000,000 authorized, 7,581,736 and 7,581,736 issued and outsstanding at March 31, 2012 and December 31, 2011, respectively | 7,582 | 7,582 |
| Additional Paid-in-Capital | 336,320 | 336,320 |
| Accumulated Deficit | (297,140) | (252,274) |
| Total Stockholder's Equity | 46,762 | 91,628 |
| TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | $ 62,732 | $ 107,364 |