FrogAds, Inc.

CIK:0001492683|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended		15 Months Ended
CONDENSED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Income Statement [Abstract]
Revenue	$ 590	$ 0	$ 1,265	$ 0	$ 1,845
Operating expenses:
Advertising	16,547	16,335	107,916	33,918	547,701
Depreciation	531	531	1,062	1,062	2,655
General and administrative	91,778	39,294	191,351	77,403	358,760
Professional fees	13,105	10,783	627,100	24,500	650,783
Total operating expenses	121,961	66,943	927,429	136,883	1,559,899
Net operating loss	(121,371)	(66,943)	(926,164)	(136,883)	(1,558,054)
Interest expense	(592,051)	(733)	(763,988)	(932)	(799,515)
Net loss before provision for income taxes	(713,422)	(67,676)	(1,690,152)	(137,815)	(2,357,569)
Provision for income taxes	0	0	0	0	17,686
Net loss	$ (713,422)	$ (67,676)	$ (1,690,152)	$ (137,815)	$ (2,339,883)
Weighted average number of common shares outstanding - basic and fully diluted	154,829,377	90,000,000	125,204,839	90,000,000
Net loss per share - basic and fully diluted	$ 0	$ 0	$ (0.01)	$ 0.00

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended		15 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,690,152)	$ (137,815)	$ (2,339,883)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	1,062	1,062	2,655
Amortization of beneficial conversion feature	422,703	0	449,467
Loss on conversion of debts	314,106	0	314,106
Common stock issued for services	550,000	0	695,000
(Increase) decrease in assets:
Prepaid expenses	38,412	3,824	6,435
Deposits	860	0	(7,407)
Income tax receivable	0	0	(17,686)
Increase (decrease) in liabilities:
Accounts payable	951	(4,300)	12,885
Accrued expenses	31,579	18,308	36,814
Net cash used in operating activities	(330,479)	(118,921)	(847,614)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from convertible notes payable	325,100	0	745,100
Proceeds from notes payable	0	96,000	96,000
Repayment on notes payable	0	0	(10,000)
Proceeds received from contributed capital	0	2,796	2,971
Net cash provided by financing activities	325,100	98,796	834,071
NET CHANGE IN CASH	(5,379)	(20,125)	(13,543)
CASH AT BEGINNING OF YEAR	8,815	85,359	16,979
CASH AT END OF YEAR	3,436	65,234	3,436
SUPPLEMENTAL DISCLOSURES:
Interest paid	0	0	0
Income taxes paid	0	0	0
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Discount on beneficial conversion feature of convertible debt	419,233	0	651,164
Conversion of debts	$ 179,539	$ 0	$ 179,539

CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2012	Mar. 31, 2012
ASSETS
Cash	$ 3,436	$ 8,815
Prepaid expenses	210	38,622
Deposits	7,407	8,267
Income tax receivable	17,686	17,686
Total current assets	28,739	73,390
Property and equipment, net	6,740	7,802
Total assets	35,479	81,192
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable	13,819	12,868
Accrued expenses	68,906	44,766
Convertible notes payable, net of discounts of $201,695 and $205,165, respectively	416,305	214,835
Notes payable	51,000	96,000
Total current liabilities	550,030	368,469
Stockholders' equity (deficit):
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.001 par value, 5,000,000,000 shares authorized, 233,166,333 and 90,500,000 shares issued and outstanding, respectively	233,166	90,500
Subscriptions Payable, 80,000,000 and -0- shares, respectively	120,375	0
Additional paid in capital	1,507,237	307,400
Accumulated (deficit) prior to re-entry into development stage	(35,446)	(35,446)
Accumulated (deficit) during development stage	(2,339,883)	(649,731)
Total stockholders' equity (deficit)	(514,551)	(287,277)
Total liabilities and stockholders' equity (deficit)	$ 35,479	$ 81,192