Pacific Clean Water Technologies, Inc.

CIK:0001482073|SEC Filings

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations (USD $)	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
REVENUES:
Total revenues	$ 812,614	$ 812,577	$ 1,307,515	$ 1,438,812
Cost of sales	450,271	530,338	791,832	948,524
Gross Profit	362,343	282,239	515,683	490,288
OPERATING EXPENSES
Selling, General, and Administrative	307,533	324,295	581,682	588,864
Depreciation and Amortization expense	5,815	4,225	11,631	8,251
Total operating expenses	313,348	328,520	593,313	597,115
Net operating loss	48,995	(46,281)	(77,630)	(106,827)
Other income (expense):
Gain (loss) on derivatives	(6,852)	0	(1,282)	24
Interest expense	(12,534)	(2,772)	(24,465)	(5,406)
Net loss before taxes	29,609	(49,053)	(103,377)	(112,209)
Income tax benefit	0	(4,585)	0	(10,459)
Net Income (Loss)	$ 29,609	$ (44,468)	$ (103,377)	$ (101,750)

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATIONS ACTIVITIES:
Net Income (loss)	$ (103,377)	$ (101,750)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation expense	14,631	8,251
Amortization of debt discount	12,847	0
(Gain)/Loss on derivative liability	1,282	0
Changes in operating assets and liabilities
Accounts receivable	(53,616)	(96,695)
Prepaid expenses and other current assets	1,435	(2,645)
Accounts payable	72,165	107,483
Deferred tax liability	0	(10,459)
Accrued liabilities	4,506	3,542
Cash used in operating activities	(50,127)	(92,273)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchased of fixed assets	(1,985)	(2,560)
CASH FLOWS FROM FINANCING ACTIVIES
Repayment on bank overdraft	(26,600)	0
Repayment of debt	(18,695)	(13,034)
Proceeds from convertible note	19,980	0
Net proceeds on line of credit	106,000	124,740
Cash provided by financing activities	80,685	111,706
NET INCREASE (DECREASE) IN CASH	28,573	16,873
Cash and cash equivalents, beginning of period	1,479	43,626
Cash and cash equivalents, end of period	30,052	60,499
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	2,254	1,701
Non-cash investing and financing activities:
Cancellation of common stock	$ 60,000	$ 0

Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
Current Assets:
Cash & Equivalents	$ 30,052	$ 1,479
Trade Receivables	483,189	429,573
Other	4,050	5,485
Total current assets	517,291	436,537
Property, plant and equipment, net of accumulated deprecation of $112,137 and $97,506	127,679	140,325
Total Assets	644,970	576,862
Current Liabilities:
Bank overdraft	0	26,600
Accounts payable	284,544	212,379
Accrued liabilities	12,587	10,335
Line of credit	327,262	221,262
Derivative liabilities	16,900	15,618
Short term debt	53,086	37,387
Short term debt - related parties	0	4,250
Convertible debt, net of discount	69,980	37,153
Total current liabilities	764,359	564,984
Long term debt	51,569	68,008
Long term debt - related parties	0	11,451
Total Liabilities	815,928	644,443
Stockholders' deficit
Preferred stock, 20,000,000 shares authorized at par value of $0.0001, no shares issued and outstanding	0	0
Common stock, 500,000,000 shares authorized at par value of $0.0001, 300,000,000 and 900,000,000 shares issued and outstanding as of June 30, 2013 and December 31, 2012	30,000	90,000
Additional paid in capital	56,565	(3,435)
Accumulated deficit	(257,523)	(154,146)
Total shareholders' deficit	(170,958)	(67,581)
Total liabilities and shareholders' deficit	$ 644,970	$ 576,862