Sanborn Resources, Ltd.

CIK:0001530874|SEC Filings

Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
Statements of Operations (Unaudited) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
Revenue
Cost of goods sold
Gross profit
Operating Expenses:
Professional fees	600	5,277	48,189	122,426
Compensation expense	37,500	16,600	37,500	46,600
Mining concession fees		17,875		140,740
General and administrative	181	10,855	10,667	60,496
Total operating expenses	38,281	50,607	96,356	370,262
Net loss from operations	(38,281)	(50,607)	(96,356)	(370,262)
Other Expenses
Other income		20,506		20,506
Interest expense		(26,586)		(49,402)
Total other expenses		(6,080)		(28,896)
Net loss from continuing operations before provision for income taxes	(38,281)	(56,687)	(96,356)	(399,158)
Provision for Income Taxes
Loss from continuing operations	(38,281)	(56,687)	(96,356)	(399,158)
Unrealized foreign currency translation income (loss)		5,760		(42,818)
Comprehensive income (loss)	$ (38,281)	$ (107,614)	$ (96,356)	$ (441,976)
Basic earnings (loss) per common share:	$ (0.0009)	$ (0.0012)	$ (0.0023)	$ (0.0032)
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	42,674,381	88,277,322	42,674,381	138,295,788

Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
Statements of Cash Flows (Unaudited) (USD $)	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (96,356)	$ (399,158)
Adjustments to reconcile net loss to net cash provided by (used in) by operating activities:
Depreciation and amortization		3,017
Shares issued for services	8,000
Taxes receivable		1,840
Management fees accrued	37,500
Changes in net assets and liabilities:
Prepaid expenses		974
Accounts payable and accrued expenses	(13,965)	116,293
Net Cash Used in Operating Activities	(64,821)	(277,034)
CASH FLOWS FROM INVESTING ACTIVITIES:
Issuance of note receivable		(10,000)
Payment received on note receivable		10,000
Cash acquired in acquisition		10,678
Cash used in acquisition		(750,265)
Net Cash Used in Investing Activities		(739,587)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable		1,015,000
Proceeds from notes payable - related party	48,600
Net Cash Provided by Financing Activities	48,600	1,015,000
Effect of Exchange Rate Changes on Cash		(726)
Net Increase (decrease) in Cash	(16,221)	(2,346)
Cash - Beginning of Year	17,094	2,346
Cash - End of Year	873
Cash paid during the period for:
Interest
Income taxes
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Common stock issued for services	8,000
Common stock issued for conversion of accounts payable	6,574
Notes payable assumed in connection with sale of subsidiary	$ 1,065,000

Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 873	$ 17,094
Total current assets	873	17,094
Total Assets	873	17,094
Current Liabilities:
Accounts payable and accrued expenses	37,500	20,539
Notes payable - related party	48,600
Total Current Liabilities	86,100	20,539
Stockholders' Deficit:
Preferred stock, par value $0.0001 per shares, 20,000,000 shares authorized; no shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively
Common stock, par value $0.0001 per share, 1,000,000,000 shares authorized; 42,674,381 and 42,381,281 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively	4,267	4,238
Additional paid-in capital	167,026	152,488
Common stock payable	7
Accumulated deficit	(256,527)	(160,171)
Total stockholders' deficit	(85,227)	(3,445)
Total Liabilities and Stockholders' Deficit	$ 873	$ 17,094