Global Vision Holdings, Inc.

CIK:0001497120|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenue
Net sales	$ 205,918	$ 3,804	$ 428,337	$ 8,983
Cost of goods sold	144,506	2,912	288,533	7,046
Gross margin	61,412	892	139,804	1,937
Expenses
Compensation	64,927	47,419	104,871	2,678,928
Sales and marketing	1,959	6,652	34,080	12,583
Professional fees	71,951	35,470	318,012	193,201
Other general and adminstrative	17,043	27,279	88,561	63,973
Total operating expenses	155,880	116,820	545,524	2,948,685
Loss from operations	(94,468)	(115,928)	(405,720)	(2,946,748)
Other income (expense)
Interest expense	(109,705)	0	(177,493)	0
Financing fees	(39,225)	0	(171,825)	0
Loss on change in fair value of derivatives	(10,764)	0	(27,349)	0
Total other expenses	(159,694)	0	(376,667)	0
Net loss	$ (254,162)	$ (115,928)	$ (782,387)	$ (2,946,748)
Net loss per share - basic and diluted	$ 0.00	$ 0.00	$ (0.01)	$ (0.03)
Weighted average shares outstanding	141,732,371	141,042,772	141,624,346	116,646,165

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities
Net loss	$ (782,387)	$ (2,946,748)
Stock based compensation	77,917	2,636,197
Non-cash finance fees and amortization of debt discount	349,318	0
Loss on change in fair value of derivatives	27,349	0
Change in accounts receivable	(54,508)	(959)
Change in prepaid expenses	19,484	(1,391)
Change in inventories	(25,278)	7,944
Change in deposits	(7,350)	0
Change in accounts payable	134,271	15,652
Net cash used in operating activities	(261,184)	(289,305)
Cash Flows from Investing Activities
Purchase of furniture and fixtures	(20,364)	0
Cash received in subsidiary acquisition	0	7,821
Net cash provided by (used in) investing activities	(20,364)	7,821
Cash Flows from Financing Activities
Proceeds from shareholder advances	55,400	0
Payments on shareholder advances	(20,748)	0
Proceeds from issuance of convertible promissory notes	370,912	0
Payments on promissory notes payable	(160,000)	0
Proceeds from issuances of common stock	0	309,600
Net cash provided by financing activities	245,564	309,600
Net increase in cash and cash equivalents	(15,620)	28,116
Cash and cash equivalents at beginning of the period	15,883	15,000
Cash and cash equivalents at end of the period	263	43,116
Supplementary Disclosures of Cash Flow Information
Interest paid	0	0
Taxes paid	0	0
Non-Cash Investing and Financing Activities
Notes payable issued related to acquisition of subsidiary	860,000	0
Stock issued for settlement of convertible promissory notes	15,000	0
Stock issued in acquisition	$ 0	$ 100,000

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets
Cash and cash equivalents	$ 263	$ 15,883
Accounts receivable	63,318	8,810
Inventory	28,486	3,208
Prepaid expenses	40,742	165,558
Total current assets	132,809	193,459
Furniture and Fixtures, net	20,364	0
Other Assets
Deposits	10,075	0
Goodwill	1,110,076	86,985
Total assets	1,273,324	280,444
Current Liabilities
Accounts payable	175,113	40,842
Advance from shareholder	34,652	0
Convertible notes, net of discount	558,751	0
Current portions of promissory notes payable	55,000	0
Derivative liability	187,707	0
Total current liabilities	1,011,223	40,842
Promissory notes payable, net of current portion	785,000	0
Total liabilities	1,796,223	40,842
Commitments and Contingencies
Stockholders' Equity/ (Deficit)
Preferred stock: 25,000,000 shares authorized, $0.001 par value none issued and outstanding	0	0
Treasury stock	(1,084,600)	(1,084,600)
Additional paid in capital	3,825,335	3,806,143
Accumulated deficit	(3,405,898)	(2,623,511)
Total stockholders' equity (deficit)	(522,899)	239,602
Total liabilities and stockholders' equity (deficit)	1,273,324	280,444
Common Class A
Stockholders' Equity/ (Deficit)
Common stock	70,000	70,000
Common Class B
Stockholders' Equity/ (Deficit)
Common stock	$ 71,570	$ 72,264