BLACKCRAFT CULT, INC.

CIK:0001521549|SEC Filings

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
Statements of Operations - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Product sales	$ 491,605	$ 423,653	$ 1,480,696	$ 1,185,932
Tour income	105,896		105,896
Shipping income	53,482	42,886	184,604	145,233
Total revenue	650,983	466,539	1,771,196	1,331,165
Cost of sales
Product cost of goods sold	190,887	173,276	567,474	343,370
Shipping costs	50,423	50,630	185,567	154,032
Total cost of sales	241,310	223,906	753,041	497,402
Gross profit	409,673	242,633	1,018,155	833,763
Operating expenses:
General and administrative	166,597	181,403	498,851	533,210
Executive compensation	92,884	21,465	166,577	80,990
Depreciation	5,686	2,403	17,060	3,252
Total operating expenses	265,167	205,271	682,488	617,452
Other expenses:
Interest expense	4,387	250	6,536	394
Total other expenses	4,387	250	6,536	394
Net income (loss) before provision for income taxes	140,119	37,112	329,131	215,917
Income tax expense	58,160	20,649	140,713	97,290
Net income (loss)	$ 81,959	$ 16,463	$ 188,418	$ 118,627
Net income (loss) per share - basic	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average number of common shares outstanding - basic	199,160,014	199,160,014	199,160,014	199,160,014

Statements of Cash Flows - USD ($)	9 Months Ended
Statements of Cash Flows - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net income (loss)	$ 188,418	$ 118,627
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	17,060	3,252
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(1,772)	(117)
(Increase) decrease in inventory	(121,327)	(29,169)
(Increase) decrease in prepaid expenses	(6,563)	(1,875)
Increase (decrease) in income tax payable	140,713	97,290
Increase (decrease) in accounts payable	12,260	(24,757)
Increase (decrease) in accrued liabilities	(72,375)	(52,826)
Net cash provided (used) by operating activities	156,414	110,425
Cash flows from financing activities
Proceeds from notes payable - short term	97,000	16,016
Repayment of notes payable - short term	33,479
Proceeds from notes payable - long term		52,454
Repayment of notes payable - long term	9,129
Net cash provided (used) by financing activities	54,392	68,470
Net increase (decrease) in cash	210,806	40,447
Cash - beginning of the period	283,174	222,836
Cash - ending of the period	493,980	263,283
Supplemental disclosures
Interest paid	6,536	394
Income taxes paid

Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalent	$ 493,980	$ 283,174
Accounts receivable	2,077	305
Prepaid expenses	7,500	938
Inventory	239,954	118,625
Deferred tax asset, current	10,292	10,292
Total current assets	753,803	413,334
Other assets:
Fixed assets, net	117,248	134,308
Deposits	16,500	16,500
Deferred tax asset, net of current	69,307	72,626
Total other assets	203,055	223,434
Total assets	956,858	636,768
Current liabilities:
Accounts payable	45,540	33,279
Accrued liabilities	4,777	77,152
Income tax payable	289,966	154,623
Note payable - short term	76,377	12,268
Total current liabilities	416,660	277,322
Non-current liabilities:
Accrued interest payable - related party	197	197
Note payable - related party	15,453	15,453
Note payable - long term	43,536	53,253
Deferred tax liabilities	5,121	3,070
Total non-current liabilities	64,307	71,973
Total liabilities	480,967	349,295
Stockholders' equity (deficit)
Preferred stock value
Common stock value	199,160	199,160
Additional paid-in capital	(52,333)	(52,333)
Retained earnings (deficit)	329,064	140,646
Total stockholders' equity (deficit)	475,891	287,473
Total liabilities and stockholders' equity (deficit)	$ 956,858	$ 636,768