FIRSTIN WIRELESS TECHNOLOGY, INC.

CIK:0001507103|SEC Filings

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
Condensed Consolidated Statements of Operations (USD $)	Dec. 31, 2011	Dec. 31, 2010
Revenue:
Sales
Expenses:
Rent and occupancy costs	121,379
General and administrative	1,680
Professional fees	17,729
Total operating expenses	140,788
Net operating (loss)	(140,788)
Loss from continuing operations	(140,788)
Discontinued operations:
Loss from operations of discontinued Irvine component	(187,826)	(283,566)
Net (loss)	$ (328,614)	$ (283,566)
Basic and fully diluted net (loss) per share:
Basic and fully diluted net (loss) per share from continuing operations (in Dollars per share)	$ (0.01)
Basic and fully diluted net (loss) per share from discontinued operations (in Dollars per share)	$ (0.01)	$ (0.02)
Basic and fully diluted net (loss) per share (in Dollars per share)	$ (0.02)	$ (0.02)
Weighted average number of common shares outstanding - basic and fully diluted (in Shares)	19,565,104	18,000,000

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
Consolidated Statements of Cash Flows (USD $)	Dec. 31, 2011	Dec. 31, 2010
Net (loss)	$ (328,614)	$ (283,566)
Depreciation and amortization expense	33,939	16,056
Decrease (increase) in assets:
Inventories	18,774	(27,011)
Prepaid expenses	8,153	35,704
Security deposits	77,975
Increase (decrease) in liabilities:
Accounts payable	185,621	87,076
Accrued expenses	741	9,464
Accrued expenses, related party	5,591	5,096
Deferred rent obligation	592	17,213
Capital lease obligations payable	(4,468)	(4,095)
Net cash used in operating activities	(1,696)	(144,063)
Cash flows from financing activities
Proceeds from notes payable		525,000
Proceeds from officer loan, related party	6,000	50,000
Repayments on notes payable	(11,394)	(10,735)
Net cash provided by (used in) financing activities	(5,394)	564,265
Net increase (decrease) in cash	(7,090)	420,202
Cash - beginning	17,711	22,105
Cash - ending	10,621	442,307
Supplemental disclosures:
Interest paid	7,072	8,165
Income taxes paid

Consolidated Balance Sheets (USD $)	Dec. 31, 2011	Sep. 30, 2011
Current assets:
Cash	$ 10,621	$ 17,711
Inventories	84,871	103,645
Prepaid expenses	9,120	17,273
Total current assets	104,612	138,629
Property and equipment, net	713,145	747,084
Other assets:
Security deposits	3,138	81,113
Total Assets	820,895	966,826
Current liabilities:
Accounts payable	743,412	557,791
Accrued expenses	42,139	41,398
Accrued expenses, related party	39,956	34,365
Deferred rent obligation	525,374	524,782
Officer loan, related party	279,525	273,525
Current maturities of capital lease obligations payable	7,926	12,394
Short term debts	631,961	643,355
Total current liabilities	2,270,293	2,087,610
Stockholders' Equity (Deficit):
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value, 90,000,000 shares authorized; 19,565,104 shares issued and outstanding	19,565	19,565
Additional paid in capital	1,942,350	1,942,350
Accumulated (deficit)	(3,411,313)	(3,082,699)
Total Stockholders' Equity (Deficit)	(1,449,398)	(1,120,784)
Total Liabilities and Stockholders' Equity (Deficit)	$ 820,895	$ 966,826