Frozen Food Gift Group, Inc

CIK:0001486526|SEC Filings

Condensed Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
Condensed Statements of Operations (Unaudited) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
Revenue	$ 1,586,296	$ 1,681,602	$ 2,197,179	$ 3,512,905
Cost of revenues	1,402,492	1,410,295	1,980,659	2,893,584
Gross profit	183,804	271,307	216,520	619,321
Operating expenses:
General and administrative	1,362,625	1,437,367	3,895,282	4,220,647
Depreciation and amortization	206,882	37,057	660,010	513,457
Operating expenses	1,569,507	1,474,424	4,555,292	4,734,104
Net Operating Loss	(1,385,703)	(1,203,117)	(4,338,772)	(4,114,783)
Other expense (income)
Interest Expense	24,429	194,646	226,438	567,521
Other Expense (income)			(423,750)	(36,725)
Net (loss)	$ (1,410,132)	$ (1,397,763)	$ (4,141,460)	$ (4,645,579)
Net loss per common share:
Basic and diluted	$ (0.00050)	$ (0.00045)	$ (0.00156)	$ (0.00152)
Weighted average common shares outstanding:
Basic and diluted	2,779,435,546	2,701,725,127	2,779,435,546	2,701,725,127

Condensed Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 20,851	$ 22,415
Accounts receivable, net	1,431,692	1,484,942
Inventory	332,434	162,789
Prepaid assets	1,116,457	154,252
Other	0	0
Total current assets	2,901,434	1,824,398
Receivable, related party	0	0
Property, plant and equipment, net	6,849,681	7,213,139
Intangibles, net	1,139,620	1,231,797
Other long-term assets	2,299,113	2,961,167
Total assets	13,189,848	13,230,501
Current liabilities:
Accounts payable	3,796,588	3,698,953
Accrued Liabilities	2,325,271	2,787,755
Related party Payables	546,398	722,949
Line of Credit	0	6,718,743
Debt Properties - current portion	0	125,483
Debt, current portion	0	2,535,982
Related party debt	0	5,535,000
Total current liabilities	6,668,257	22,124,865
Debt, long-term portion	26,979,633	0
Debt, properties, long-term portion	0	10,691,758
Total liabilities	33,647,890	32,816,623
Stockholders' Equity:
Series F convertible preferred stock, $0.00001 par value; 20,000 shares authorized; no shares issued and outstanding	0	0
Series E convertible preferred stock, $0.00001 par value; 22,155,729 shares authorized; 22,155,729 and 22,155,729 issued and outstanding, respectively	222	0
Series C convertible preferred stock, $0.00001 par value; 19,738,646 shares authorized;19,738,643 and 19,738,643 shares issued and outstanding, respectively	197	0
Series A convertible preferred stock, $0.00001 par value; 9,118,108 shares authorized; no shares issued and outstanding	0	0
Series B convertible preferred stock, $0.00001 par value; 20,500,000 shares authorized; 500,000 issued and outstanding	5	0
Common stock, $0.00001 par value; 20,000,000,000 shares authorized; 6,519,278,740 shares issued and outstanding, respectively for 2014 and Common stock, $0.01 par value;100,000,000 shares authorized; 31,315,190 and 29,464,524 shares issued and outstanding, respectively	65,193	313,153
Additional paid in capital	16,282,780	11,737,648
Accumulated deficit	(36,806,439)	(32,467,667)
Total stockholders' equity	(20,458,042)	(20,416,866)
Non controlling interest	0	830,744
Total Shareholder Deficit	(20,458,042)	(19,586,122)
Total liabilities and stockholders' equity	$ 13,189,848	$ 13,230,501