Primco Management Inc.

CIK:0001516522|SEC Filings

Consolidated Statements of Operations (USD $)	12 Months Ended		51 Months Ended
Consolidated Statements of Operations (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
Income Statement
Revenues	$ 103,403us-gaap_Revenues	$ 72,116us-gaap_Revenues	$ 175,519us-gaap_Revenues
Costs of services	74,042us-gaap_CostOfServices	44,123us-gaap_CostOfServices	118,165us-gaap_CostOfServices
Gross Margin	29,361us-gaap_GrossProfit	27,993us-gaap_GrossProfit	57,354us-gaap_GrossProfit
Operating Expenses:
Consulting	466,345pmcm_Consulting	239,500pmcm_Consulting	603,845pmcm_Consulting
General and administrative	292,002us-gaap_GeneralAndAdministrativeExpense	277,333us-gaap_GeneralAndAdministrativeExpense	676,335us-gaap_GeneralAndAdministrativeExpense
Professional fees	192,766us-gaap_ProfessionalFees	43,860us-gaap_ProfessionalFees	236,626us-gaap_ProfessionalFees
Wages and officer compensation	366,268	374,212	740,480
Total Operating Expenses	1,317,381us-gaap_OperatingExpenses	934,905us-gaap_OperatingExpenses	2,257,286us-gaap_OperatingExpenses
Loss from Operations	(1,288,020)	(906,912)	(2,199,932)
Other Expenses/(Income):
Interest expense	145,519us-gaap_InterestExpense	177,931us-gaap_InterestExpense	1,033,805us-gaap_InterestExpense
Interest expense - derivative	7,666,969pmcm_InterestExpenseDerivative	2,056,954pmcm_InterestExpenseDerivative	9,558,084pmcm_InterestExpenseDerivative
Forgiveness of debt	(30,000)pmcm_ForgivenessOfDebt		(30,000)pmcm_ForgivenessOfDebt
Total Other Expense	7,782,488us-gaap_OtherNonoperatingExpense	2,779,401us-gaap_OtherNonoperatingExpense	10,561,889us-gaap_OtherNonoperatingExpense
Net Loss Before Income Taxes	(9,070,508)	(3,686,313)	(12,761,821)
Provision for Income Taxes
Net Loss	$ (9,070,508)us-gaap_NetIncomeLoss	$ (3,686,313)us-gaap_NetIncomeLoss	$ (12,761,821)us-gaap_NetIncomeLoss
Net Loss per Share - Basic and Diluted	$ 0.00us-gaap_EarningsPerShareBasicAndDiluted	$ 0.00us-gaap_EarningsPerShareBasicAndDiluted
Weighted average number of shares outstanding - Basic and Diluted	5,605,588,109	1,881,476,718

Consolidated Statements of Cash Flows (USD $)	12 Months Ended		51 Months Ended
Consolidated Statements of Cash Flows (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) for the Period	$ (9,070,508)us-gaap_NetIncomeLoss	$ (3,686,313)us-gaap_NetIncomeLoss	$ (12,761,821)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash provided by operating activities:
Common stock issued for services	7,530		12,530
Depreciation and amortization	2,953us-gaap_DepreciationAndAmortization	1,527us-gaap_DepreciationAndAmortization	4,480us-gaap_DepreciationAndAmortization
Interest expense- derivative	7,666,969pmcm_InterestExpenseDerivative	2,056,954pmcm_InterestExpenseDerivative	9,558,084pmcm_InterestExpenseDerivative
Changes in Operating Assets and Liabilities
Decrease (Increase) in accounts receivables	14,982	(26,026)	(11,044)
Decrease (Increase) in inventory	27,844us-gaap_IncreaseDecreaseInInventories	(70,528)us-gaap_IncreaseDecreaseInInventories	(42,684)us-gaap_IncreaseDecreaseInInventories
Decrease (Increase) in deposits	3,614us-gaap_IncreaseDecreaseInDeposits	(28,714)us-gaap_IncreaseDecreaseInDeposits	(25,100)us-gaap_IncreaseDecreaseInDeposits
Increase in advances to related party	(99,495)	13,928	(85,567)
Increase (Decrease) in accounts payable	(3,855)	97,979	94,124
Increase (Decrease) in accrued liabilities	8,000	291,175	299,175
Decrease in prepaids	20,000		20,000
Discount on debt	(50,175)pmcm_DiscountOnDebt	(128,463)pmcm_DiscountOnDebt	(12,799)pmcm_DiscountOnDebt
Net Cash Proceeds (Used) in Operating Activities	(1,472,141)	(1,478,481)	(2,950,622)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment and furniture		(9,412)	(9,412)
Investment in Seattle Green Care	(12,500)pmcm_InvestmentInSeattleGreenCare		(12,500)pmcm_InvestmentInSeattleGreenCare
Investment in Suzie Q's NPO	(20,000)pmcm_InvestmentInSuzieQsNpo		(20,000)pmcm_InvestmentInSuzieQsNpo
Net Cash Used In Investing Activities	(32,500)	(9,412)	(41,912)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible notes payable	1,262,500us-gaap_ProceedsFromNotesPayable	1,552,664us-gaap_ProceedsFromNotesPayable	2,815,164us-gaap_ProceedsFromNotesPayable
Proceeds from sale of stock	374,363us-gaap_ProceedsFromSaleOfTreasuryStock		374,363us-gaap_ProceedsFromSaleOfTreasuryStock
Net Cash Provided by Financing Activities	1,636,863	1,552,664	3,189,527
Net (Decrease) Increase in Cash	132,222us-gaap_CashPeriodIncreaseDecrease	64,771us-gaap_CashPeriodIncreaseDecrease	196,993us-gaap_CashPeriodIncreaseDecrease
Cash at Beginning of Period	64,771
Cash at End of Period	196,993	64,771	196,993
Cash paid during period:
Interest
Franchise and Income Taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of short term note payable to purchase intellectual property rights: Music		916,350	1,442,402
Issuance of short term note payable to purchase intellectual property rights: Motion Picture			315,000
Issuance of short term note payable by Southridge for S-1 legal fees	$ 20,000		$ 20,000

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 196,993	$ 64,771
Accounts receivable, net	11,044us-gaap_AccountsReceivableNet	26,026us-gaap_AccountsReceivableNet
Inventory, net	42,684us-gaap_InventoryNet	70,528us-gaap_InventoryNet
Due from related party	104,915us-gaap_DueFromRelatedPartiesCurrent
Prepaids		20,000us-gaap_PrepaidExpenseCurrent
Total Current Assets	355,636us-gaap_AssetsCurrent	181,325us-gaap_AssetsCurrent
Property and equipment, net	4,932us-gaap_PropertyPlantAndEquipmentNet	7,885us-gaap_PropertyPlantAndEquipmentNet
Other Assets:
Goodwill	32,500us-gaap_Goodwill
Deposits	5,100us-gaap_Deposits	8,714us-gaap_Deposits
Total Other Assets	37,600us-gaap_OtherAssets	8,714us-gaap_OtherAssets
Total Assets	398,168us-gaap_Assets	197,924us-gaap_Assets
Current Liabilities:
Accounts payable	94,124us-gaap_AccountsPayableCurrent	97,979us-gaap_AccountsPayableCurrent
Accrued liabilities	309,175us-gaap_AccruedLiabilitiesCurrent	301,175us-gaap_AccruedLiabilitiesCurrent
Due to related party	19,348us-gaap_DueToRelatedPartiesCurrent	13,928us-gaap_DueToRelatedPartiesCurrent
Notes payable	429,500us-gaap_NotesPayableCurrent	713,000us-gaap_NotesPayableCurrent
Convertible notes payable, net of discounts	1,471,475us-gaap_ConvertibleNotesPayableCurrent	711,201us-gaap_ConvertibleNotesPayableCurrent
Derivative liability	7,811,368us-gaap_DerivativeLiabilities	287,071us-gaap_DerivativeLiabilities
Total Current Liabilities	10,134,990us-gaap_LiabilitiesCurrent	2,124,354us-gaap_LiabilitiesCurrent
Total Liabilities	10,134,990us-gaap_Liabilities	2,124,354us-gaap_Liabilities
Stockholders' Equity:
Preferred Stock, $0.00001 par value, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding, respectively	100us-gaap_PreferredStockValue	70us-gaap_PreferredStockValue
Common Stock, $0.00001 par value, 8,990,000,000 shares authorized 8,996,778,999 and 1,873,002,181 shares issued and outstanding, respectively	89,968us-gaap_CommonStockValue	18,730us-gaap_CommonStockValue
Stock Payable One	7,500pmcm_StockPayableOne
Additional paid in capital	2,927,431us-gaap_AdditionalPaidInCapital	1,746,083us-gaap_AdditionalPaidInCapital
Accumulated deficit during development stage	(12,761,821)	(3,691,313)
Total Stockholders' Equity (Deficit)	(9,736,822)us-gaap_StockholdersEquity	(1,926,430)us-gaap_StockholdersEquity
Total Liabilities and Stockholders' Equity	$ 398,168	$ 197,924