IDS Industries, Inc.

CIK:0001533455|SEC Filings

STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
STATEMENTS OF OPERATIONS (USD $)	Nov. 30, 2014	Nov. 30, 2013
Revenue	$ 0us-gaap_Revenues	$ 0us-gaap_Revenues
Operating expenses:
Professional fees	35,615us-gaap_ProfessionalFees	25,494us-gaap_ProfessionalFees
Stock based compensation	163,755us-gaap_ShareBasedCompensation	0us-gaap_ShareBasedCompensation
Salaries and wages	8,419us-gaap_SalariesAndWages	85,733us-gaap_SalariesAndWages
Marketing and advertising	9,150us-gaap_MarketingAndAdvertisingExpense	23,850us-gaap_MarketingAndAdvertisingExpense
General and administrative	175,488us-gaap_GeneralAndAdministrativeExpense	105,018us-gaap_GeneralAndAdministrativeExpense
Total operating expenses	392,427us-gaap_OperatingExpenses	240,095us-gaap_OperatingExpenses
Loss from operations	(392,427)us-gaap_OperatingIncomeLoss	(240,095)us-gaap_OperatingIncomeLoss
Other income and (expense):
Amortization of debt discount	(304,012)	(81,482)
Derivative expense	(422,992)ajac_DerivativeExpense	0ajac_DerivativeExpense
Gain (loss) on derivative liability	386,023	126,960
Loss on debt conversion	(70,849)	0
Penalty expense	(36,000)ajac_PenaltyExpenses	0ajac_PenaltyExpenses
Interest expense	(15,727)us-gaap_InterestExpense	(11,807)us-gaap_InterestExpense
Interest income	0us-gaap_InvestmentIncomeInterest	2,807us-gaap_InvestmentIncomeInterest
Total other expense	(463,557)us-gaap_NonoperatingIncomeExpense	36,478us-gaap_NonoperatingIncomeExpense
Loss before provision for income taxes	(855,984)	(203,617)
Provision for income taxes	0us-gaap_IncomeTaxExpenseBenefit	0us-gaap_IncomeTaxExpenseBenefit
Net Loss	$ (855,984)us-gaap_NetIncomeLoss	$ (203,617)us-gaap_NetIncomeLoss
Loss per share:
Loss per share Basic and diluted (in dollars per share)	$ 0.00us-gaap_EarningsPerShareBasicAndDiluted	$ (0.01)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average shares outstanding: basic and diluted (in shares)	273,869,821	34,313,114

STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
STATEMENTS OF CASH FLOWS (USD $)	Nov. 30, 2014	Nov. 30, 2013
Cash flows from operating activities:
Net loss for the period	$ (855,984)us-gaap_NetIncomeLoss	$ (203,617)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operations:
Stock based compensation and services	163,755us-gaap_ShareBasedCompensation	0us-gaap_ShareBasedCompensation
(Gain) loss on fair value of derivatives	(386,023)	(126,960)
Amortization of discounts	304,012	81,482
Loss on debt conversion	70,849	0
Derivative expense	422,992ajac_DerivativeExpenses	74,738ajac_DerivativeExpenses
Severance and penalty expense	161,314us-gaap_RestructuringCosts	0us-gaap_RestructuringCosts
Change in assets and liabilities:
(Increase)/decrease in prepaids and other current assets	3,034	33,485
(Increase)/decrease in note receivable - related party	0	38,889
Increase in interest receivable - related party	0	(2,807)
Increase/(decrease) in accounts payable	23,689	49,692
Increase/(decrease) in accrued expenses	19,237	1,333
Net cash used in operating activities	(73,125)	(53,765)
Cash flows from investing activities:	0	0
Cash flows from financing activities:
Proceeds from convertible debt	38,000us-gaap_ProceedsFromConvertibleDebt	35,000us-gaap_ProceedsFromConvertibleDebt
Increase / (decrease) in note payable - related party	0	5,250
Increase / (decrease) in other notes payable	(3,000)	11,555
Net cash provided by financing activities	35,000	51,805
Net decrease in cash	(38,125)	(1,960)
Cash at beginning of period	43,993	1,960
Cash at end of period	5,868	0
Supplemental Cash Flow Information:
Cash paid for interest	0us-gaap_InterestPaid	0us-gaap_InterestPaid
Cash paid for taxes	0us-gaap_IncomeTaxesPaid	0us-gaap_IncomeTaxesPaid
Supplemental disclosure of non-cash activities
Common stock issued for conversion of debt	320,020	0
Debt discount from fair value of embedded derivatives	$ 331,000	$ 0

CONSOLIDATED BALANCE SHEETS (USD $)	Nov. 30, 2014	Aug. 31, 2014
Current Assets:
Cash	$ 5,868	$ 43,993
Accounts receivable, net of allowance of $8,753 and $8,753, respectively	8,752us-gaap_AccountsReceivableNetCurrent	8,752us-gaap_AccountsReceivableNetCurrent
Prepaid expenses and other current assets	9,882	88,871
Total Current Assets	24,502us-gaap_AssetsCurrent	141,616us-gaap_AssetsCurrent
Total Assets	24,502us-gaap_Assets	141,616us-gaap_Assets
Current Liabilities:
Accounts payable	177,866us-gaap_AccountsPayableCurrent	154,178us-gaap_AccountsPayableCurrent
Derivative liability	926,163us-gaap_DerivativeLiabilitiesCurrent	558,194us-gaap_DerivativeLiabilitiesCurrent
Accrued compensation	5,695ajac_AccruedCompensationCurrent	52,686ajac_AccruedCompensationCurrent
Accrued expenses	44,080us-gaap_OtherAccruedLiabilitiesCurrent	43,483us-gaap_OtherAccruedLiabilitiesCurrent
Accrued interest	33,957us-gaap_InterestPayableCurrent	26,051us-gaap_InterestPayableCurrent
Convertible notes payable, net of discount of $445,952 and $174,125, respectively	376,184us-gaap_ConvertibleNotesPayableCurrent	340,813us-gaap_ConvertibleNotesPayableCurrent
Notes payable - related party net of discount of $0 and $244,839, respectively	0	30,135
Other notes payable	25,100us-gaap_OtherNotesPayableCurrent	52,455us-gaap_OtherNotesPayableCurrent
Total Current Liabilities	1,589,045us-gaap_LiabilitiesCurrent	1,257,995us-gaap_LiabilitiesCurrent
Total Liabilities	1,589,045us-gaap_Liabilities	1,257,995us-gaap_Liabilities
STOCKHOLDERS’ DEFICIT:
Preferred stock, par value $.001, 10,000,000 authorized, 1,000,000 and 0 shares issued and outstanding, respectively	1,000us-gaap_PreferredStockValue	0us-gaap_PreferredStockValue
Common stock, $.001 par value, 3,000,000,000 common shares authorized, 434,932,056 and 127,184,335 shares issued and outstanding, respectively	434,932us-gaap_CommonStockValue	127,184us-gaap_CommonStockValue
Additional paid in capital	1,654,906us-gaap_AdditionalPaidInCapital	1,555,834us-gaap_AdditionalPaidInCapital
Accumulated deficit	(3,655,381)	(2,799,397)
Total Stockholders' Deficit	(1,564,543)us-gaap_StockholdersEquity	(1,116,379)us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 24,502	$ 141,616