Co-Signer, Inc.

CIK:0001487659|SEC Filings

Consolidated Statements Of Operations - USD ($)	12 Months Ended
Consolidated Statements Of Operations - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Revenue	$ 61,440	$ 62,991
Revenue - related parties	264,569
Cost of revenue	52,745
Gross margin	273,264	$ 62,991
Operating Expenses:
Professional fees	119,028	191,738
Salaries and wages	336,729	128,568
Advertising and promotion	109,624	$ 149,647
Consulting	158,056
Stock-based compensation expense	1,081,991	$ 421,149
General and administrative	710,610	213,733
Total operating expenses	2,516,038	1,104,835
Loss from operations	(2,242,774)	(1,041,844)
Other income and (expense):
Interest expense	188,414	110,247
Amortization of debt discount	1,255,620	201,643
Change in fair value of derivative liability	(4,680)	44,769
Derivative expense	401,664	$ 91,357
Loss on disposal of fixed assets	(15,729)
Loss on extinguishment of debt	(141,070)	$ (235,937)
Total other expense	(2,007,177)	(594,415)
Loss before Provision for Income Taxes	$ (4,249,951)	$ (1,636,259)
Provision for Income Taxes
Net Loss	$ (4,249,951)	$ (1,636,259)
Loss per share Basic	$ (0.02)	$ (0.03)
Weighted average shares outstanding, basic	232,175,929	62,282,697

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements Of Cash Flows - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss for the year	$ (4,249,951)	$ (1,636,259)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	$ 22,051	$ 13,602
Impairment of note and interest receivable
Stock-based compensation	$ 1,081,991	$ 482,038
Derivative expense	401,664	91,357
Loss on extinguishment of debt	(141,070)	$ (235,937)
Stock issued for loan fees	265,100
Change in fair value of derivative liability	(4,680)	$ 44,769
Amortization of debt discount	1,255,620	$ 201,643
Loss on disposal of fixed assets	(15,729)
Change in assets and liabilities:
(Increase) decrease in accounts receivable	128,928	$ 483
(Increase) in other receivables and prepaid assets	8,567
(Increase) decrease in other receivable, related party	100,186	$ (275)
Increase in accounts payable and accruals	580,363	567,293
Net cash used in operating activities	(719,364)	(89,366)
Cash flows from investing activities:
Purchase of property and equipment	$ 1,961	12,998
Repayment of note receivable, related party		(6,060)
Net cash used in investing activities	$ (1,961)	$ (19,058)
Cash flows from financing activities:
Cash overdraft	279
Proceeds from notes payable, net	719,610	$ 39,200
Payments on notes payable	$ 14,760
Contributed capital, related party		$ 8,000
Proceeds from the sale of common stock		$ 62,000
Proceeds from notes payable, related party	$ 58,232
Payments on notes payable, related party	43,828
Net cash provided by financing activities	719,533	$ 109,200
Net increase (decrease) in cash	(1,792)	776
Cash at beginning of period	$ 1,792	1,016
Cash at end of period		$ 1,792
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes
Non-Cash Investing and Financing Information:
Convertible note issued to extinguish a note payable totaling $491,945, account payable of $223,530 and accrued expenses of $183,999		$ 812,249
Forgiveness of related party accrued liabilities
Notes payable, preferred stock and common stock warrants issued for cancellation of common stock in connection with the merger		$ 56,588
Common stock issued for conversion of debt	$ 366,601	$ 29,850
Preferred stock issued for conversion of debt	325,000
Issuance of common stock warrants in connection with debt	36,127	$ 14,034
Beneficial conversion feature recorded in connection with convertible debt	$ 1,378,684	$ 72,388

Consolidated Balance Sheets - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash		$ 1,792
Accounts receivable, net of allowance		$ 483
Accounts receivable - related parties, net of allowance	$ 129,411
Other receivable		$ 322
Other receivable - related parties, net of allowance	$ 44,770
Prepaid expenses		$ 23,647
Total Current Assets	$ 174,181	26,244
Deposits		2,150
Property and equipment, net	$ 1,620	25,411
Intangible assets, net	5,718	17,746
Total Assets	181,519	$ 71,551
Current Liabilities:
Cash overdraft	279
Accounts payable	465,689	$ 279,040
Deferred revenue	8,388
Accrued liabilities	106,103	$ 24,030
Accrued compensation	67,433
Accrued interest	160,193	$ 24,954
Derivative liability	1,785,051	121,588
Due to related parties	6,398	16,360
Notes payable	14,809	44,300
Convertible notes payable, net of discounts of $237,836 and $60,234, respectively	1,184,809	941,515
Total Current Liabilities	3,799,152	1,451,787
Long Term Liabilities:
Notes payable	$ 51,440	51,440
Convertible notes payable, related party net of discounts of $0 and $37,682, respectively		40,078
Convertible notes payable, net of discounts of $0 and $16,856, respectively		39,144
Total Liabilities	$ 3,850,592	1,582,449
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value, 7,500,000 authorized, no shares issued and outstanding, Series A preferred stock; $0.001 par value, 1,500,000 shares authorized, 1,173,041 shares issued and outstanding, Series B preferred stock; $0.001 par value, 1,000,000 shares authorized, 1,000,000 and no shares issued and outstanding, respectively	2,173	1,173
Common stock; $0.001 par value, 2,990,000,000 shares authorized, 826,454,513 and 113,740,949 issued and outstanding, respectively	826,456	113,741
Additional paid in capital	2,132,538	919,607
Deferred stock compensation	(21,619)	(186,749)
Accumulated deficit	(6,608,621)	(2,358,670)
Total Stockholders' Deficit	(3,669,073)	(1,510,898)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	181,519	71,551
Preferred Stock Series A [Member]
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value, 7,500,000 authorized, no shares issued and outstanding, Series A preferred stock; $0.001 par value, 1,500,000 shares authorized, 1,173,041 shares issued and outstanding, Series B preferred stock; $0.001 par value, 1,000,000 shares authorized, 1,000,000 and no shares issued and outstanding, respectively	1,173	1,173
Total Stockholders' Deficit	1,173	1,173
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	1,173	$ 1,173
Preferred Stock Series B [Member]
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value, 7,500,000 authorized, no shares issued and outstanding, Series A preferred stock; $0.001 par value, 1,500,000 shares authorized, 1,173,041 shares issued and outstanding, Series B preferred stock; $0.001 par value, 1,000,000 shares authorized, 1,000,000 and no shares issued and outstanding, respectively	1,000
Total Stockholders' Deficit	1,000
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 1,000