Blue Water Global Group, Inc.

CIK:0001516332|SEC Filings

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Sales	$ 2,157		$ 6,621
Cost of sales	902		2,631
Gross profit	1,255		3,990
Operating Expenses:
General and administrative	21,106	$ 7,009	496,463	$ 12,604
Accounting fees	18,500	4,000	28,000	7,000
Advertising and marketing	12,888	8,196	37,339	15,414
Consulting fees	51,900	37,250	352,082	215,500
Legal fees	$ 13,165	24,388	46,335	47,288
Investor relations		10,000	15,000	10,000
Transfer agent fees	$ 2,640	1,047	4,860	2,129
Total expenses	120,199	91,890	980,079	309,935
(Loss) from operations	(118,944)	(91,890)	(976,089)	(309,935)
Other income (expense):
Interest expense	$ (687,520)	(125,524)	$ (1,108,295)	(160,776)
Loss on extinguishment of debt		$ (22,624)		$ (22,624)
Gain (loss) on change in fair value of derivative liability	$ 218,006		$ (1,046,240)
Total other income (expense)	$ (469,514)	$ (148,148)	$ (2,154,535)	$ (183,400)
Provision for income taxes
Net (loss)	$ (588,458)	$ (240,038)	$ (3,130,624)	$ (493,335)
(Loss) per common share, basic and diluted	$ (0.00)	$ (0.00)	$ (0.03)	$ (0.00)
Weighted average number of common shares outstanding, basic and diluted	120,983,922	195,776,062	121,632,584	189,993,154

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net (loss)	$ (3,130,624)	$ (493,335)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities
Depreciation	244
Amortization of discount on convertible debt	850,487	$ 154,041
Change in fair market value of derivative liability	1,046,240
Common stock issued in connection with services provided by consultants	701,944
Changes in operating assets and liabilities:
Increase in accounts receivable	(3,606)
Increase in inventory	(31,625)
Increase (decrease) in accounts payable	59,698	$ 195,297
Increase in accounts payable, related party	32,889	(15,001)
Increase in accrued interest	26,103	4,514
Net cash used in by operating activities	(448,250)	$ (154,484)
Cash flows from investing activities:
Purchase of property and equipment	(287,159)
Payments related to available for sale securities	(32,524)
Net cash used in by investing activities	(319,683)
Cash flows from financing activities:
Net proceeds from convertible promissory notes	$ 1,189,500	$ 175,000
Net proceeds from sale of common stock		$ 40,803
Repayments of convertible promissory notes	$ (483,750)
Net cash provided by financing activities	705,750	$ 215,803
Net increase (decrease) in cash	(62,183)	61,319
Cash-beginning of period	192,556	7,357
Cash- end of period	130,373	68,676
Non-cash investing and financing operating activities:
Common stock issued in settlement of convertible notes	$ 17,000	5,000
Beneficial Conversion Feature (BCF) of convertible notes		$ 312,500
Preferred shares issued as a dividend	$ 1,210
Settlement of derivative	1,286,362
Derivative liabilities	1,182,548
Cancellation of shares	$ 12,500
Supplemental disclosure of cash flow information:
Interest
Income taxes

Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and equivalents	$ 130,373	$ 192,556
Accounts receivable, net	$ 3,606
Vendor deposits		$ 28,422
Inventory	$ 102,531	42,484
Total current assets	236,510	$ 263,462
Property and equipment, net	286,915
Other assets:
Available for sale securities	200,000	$ 200,000
Deposits, long-term	2,400	2,400
Total other assets	202,400	202,400
Total assets:	725,825	465,862
Current liabilities:
Accounts payable	67,908	8,211
Accounts payable, related party	527,607	494,718
Convertible notes payable, net of unamortized debt discounts of $823,607 and $527,389, respectively	445,644	106,361
Accrued interest	33,089	6,986
Derivative liability	2,345,240	1,424,011
Total current liabilities	3,419,488	$ 2,040,287
Convertible notes payable, net of unamortized debt discounts of $121,427	17,406
Total liabilities	3,436,894	$ 2,040,287
Commitments and contingencies
Stockholders' (deficit):
Common stock, $0.001 par value, 700,000,000 shares authorized; 121,645,987 and 126,206,213 shares issued and outstanding as of June 30, 2015 and December 31, 2014	121,646	$ 126,206
Additional paid-in capital	4,841,406	2,844,076
Accumulated deficit	(7,675,481)	(4,544,857)
Total stockholders' (deficit)	(2,711,069)	(1,574,425)
Total liabilities and stockholders' (deficit)	725,825	465,862
Series A Preferred stock [Member]
Stockholders' (deficit):
Preferred stock, $0.001 par value, 5,000,000 shares authorized	150	$ 150
Series B Preferred stock [Member]
Stockholders' (deficit):
Preferred stock, $0.001 par value, 5,000,000 shares authorized	$ 1,210