VAPOR HUB INTERNATIONAL INC.

CIK:0001515718|SEC Filings

Vapor Hub International Inc. - Unaudited Condensed Statements of Operations - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Statement
Merchandise sales, net	$ 2,425,222	$ 1,962,345
Royalties	70,000
Total net revenues	2,495,222	1,962,345
Cost of revenue	1,559,097	1,203,842
Gross profit	936,125	758,503
General and administrative expenses	665,656	701,741
Net income from operations	270,469	56,762
Other income (expense):
Interest expense	(33,273)	(32,686)
Amortization of finance fees	(35,364)	(9,765)
Interest expense- amortization of debt discount	(126,031)	(42,181)
Loss on extinguishment of debt	(74,870)
Change in fair value of derivative liabilities	366,195	(45,483)
Other income (expense)	96,656	(130,115)
Net income (loss) before taxes	367,125	(73,353)
Income tax provision	800	800
Net income (loss)	$ 366,325	$ (74,153)
Net loss per share:
Net income per share, basic	$ (0.00)	$ (0.00)
Net income per share, diluted	$ (0.00)	$ (0.00)
Weighted average shares outstanding:
Weighted average shares outstanding, basic	88,986,765	72,455,606
Weighted average shares outstanding, diluted	158,843,321	72,455,606

Vapor Hub International Inc. - Unaudited Condensed Statements of Cash Flows - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES:
Net income (loss)	$ 366,325	$ (74,153)
Adjustments to reconcile net (loss) to net cash provided used in operating activities:
Depreciation	7,903	7,764
Amortization of debt discount on convertible notes	126,031	1,165
Amortization of debt discount on short term note		38,179
Amortization of deferred finance costs	35,364	14,765
Amortization of derivative debt discount		2,837
Loss on extinguishment	42,198
Change in derivative liabilities	(366,194)	45,483
Non cash interest for conversion of notes payable	8,406
Changes in operating assets and liabilities:
Accounts receivable, increase decrease	(3,625)	181
Inventory, increase decrease	(204,910)	(176,224)
Prepaid expenses and other current long term assets, increase decrease	(41,778)	6,582
Security deposit, increase decrease	(86)	(7,446)
Deferred income, increase decrease	60,522	(29,669)
Accounts payable and accrued expenses, increase decrease	(177,831)	64,529
Net Cash used in Operating Activities	(147,675)	(106,007)
INVESTING ACTIVITIES:
Purchase of property and equipment		(5,734)
Net cash used in investing activities		(5,734)
FINANCING ACTIVITIES:
Payments on leased property loans	(396)	(1,071)
Payments on finances of insurance premiums	(21,287)	(32,507)
Proceeds from related party loans	47,718	(36,188)
Payments on related party loans	(4,850)
Payments on convertible notes payable	(393,977)	(105,469)
Proceeds from short term notes payable		200,000
Payments on short term notes payable		(86,003)
Payments for deferred finance costs		(17,500)
Payments on auto loan payable	(1,551)	(1,491)
Net cash provided by financing activities	(374,343)	(80,229)
Net change in cash	(522,018)	(191,970)
Cash, beginning of period	607,960	351,081
Cash, end of period	85,942	159,111
Supplemental disclosure of cash flow information:
Cash paid for interest	32,713	33,886
Cash paid for income taxes	800	800
Non-cash transactions:
Non cash repayment and borrowings of short term note payable	2,500
Insurance premium financing	149,173	146,908
Derivative liability	74,112	$ 114,067
Shares issued for extinguishment of debt	$ 36,098

Vapor Hub International Inc. - Condensed Consolidated Balance Sheets - USD ($)

Sep. 30, 2016

Jun. 30, 2016

Current Assets:

Cash

$ 85,942

$ 607,960

Accounts Receivable

4,505

880

Inventory

790,399

585,489

Prepaid expenses and other current assets

229,204

38,254

Other current assets

10,556

Total Current Assets

1,120,606

1,243,139

Fixed assets, net

126,320

134,223

Long term assets

14,427

14,341

Total Assets

1,261,353

1,391,703

Current Liabilities:

Accounts payable and accrued expenses

614,216

828,146

Deferred income

155,276

94,754

Equipment leases payable

851

1,247

Convertible notes payable, net of unamortized debt discount, current

91,197

315,373

Notes payable, net of unamortized debt discount

135,096

7,211

Loans from related parties

146,277

103,409

Derivative liabilities, current

503,887

827,883

Total Current Liabilities

1,646,800

2,178,023

Long Term Liabilities:

Notes payable- long term

21,587

23,137

Long term liabilities

21,587

23,137

TOTAL LIABILITIES

1,668,387

2,201,160

Stockholders' Deficit

Preferred stock

^[1]

Common stock

^[2]

90,292

86,860

Additional paid-in capital

808,595

775,929

Accumulated deficit

(1,305,921)

(1,672,246)

Total Stockholders Deficit

(407,034)

(809,457)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

$ 1,261,353

$ 1,391,703

[1]	$0.001 par value, 10,000,000 authorized, 0 issued and outstanding as of September 30, 2016 and June 30, 2016, respectively
[2]	$0.001 par value, 1,010,000,000 shares authorized, 90,292,443 and 86,860,375 issued and outstanding as of September 30, 2016 and June 30, 2016, respectively.