Service Team Inc.

CIK:0001535635|SEC Filings

CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Nov. 30, 2019	Nov. 30, 2018
REVENUES
Sales	$ 994,625	$ 993,889
COST OF SALES
Cost of sales	824,002	717,017
Gross Margin	170,623	276,872
OPERATING EXPENSES
General & administrative expenses	174,689	126,460
Depreciation expense	4,017	4,206
Total Operating Expenses	178,706	130,666
INCOME FROM OPERATIONS	(8,083)	146,206
OTHER EXPENSE
Interest Expense	(9,082)	32,680
Total Other Expense	(9,082)	32,680
NET INCOME (LOSS)	$ (17,165)	$ 113,526
Weighted average number of common shares outstanding - basic	8,852,873,544	8,852,873,544
Weighted average number of common shares outstanding - diluted	8,852,873,544	11,515,613,544
Net earnings (loss) per common share - basic	$ (0.00)	$ (0.00)
Net earnings (loss) per common share - diluted	$ (0.00)	$ (0.00)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Nov. 30, 2019	Nov. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (17,165)	$ 113,526
Adjustments to reconcile net income (loss) with cash provided by (used in) operations:
Debt discount amortization	3,279	19,881
Depreciation	4,017	4,206
CHANGE IN OPERATING ASSETS AND LIABILITIES
Accounts receivable	(32,019)	(28,815)
Accrued expenses	4,521	5,760
Accounts payable	26,598	17,805
Net Cash Provided by (Used in) Operating Activities	(10,769)	132,363
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for purchase of fixed assets	(1,715)	0
Net Cash Used in Investing Activities	(1,715)	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from convertible debt - third party	0	0
Payments on promissory notes - third party	(16,999)	(39,656)
Net Cash Provided By (Used In) Financing Activities	(16,999)	(39,656)
Net Increase (Decrease) In Cash and Cash Equivalents	(29,483)	92,707
Cash at Beginning of Period	52,636	48,855
Cash at End of Period	23,153	141,562
Supplemental Disclosures
Interest Paid	413	0
Taxes Paid	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Nov. 30, 2019	Aug. 31, 2019
ASSETS
Cash	$ 23,153	$ 52,636
Accounts receivable, net	376,285	344,266
Total Current Assets	399,438	396,902
Property and equipment, net	155,434	157,736
Prepaid expenses - non-current	14,000	14,000
TOTAL ASSETS	568,872	568,638
LIABILITIES & SHAREHOLDERS' EQUITY
Accounts payable	109,162	82,564
Loan - employee	1,300	1,300
Convertible note payable, net - currently in default	136,632	140,232
Promissory note payable, net	0	10,120
Accrued expenses	62,652	63,521
Accrued interest	90,256	84,866
TOTAL LIABILITIES	400,002	382,603
SHAREHOLDERS' EQUITY
Common stock, $0.001 par value, 20,000,000,000 authorized, and 8,852,873,544 issued and outstanding as of November 30, 2019 and 8,852,873,544 issued and outstanding as of August 31, 2019 respectively.	8,852,874	8,852,874
Preferred stock - Series A, $0.001 par value, 150,000 authorized, 150,000 and 150,000 issued and outstanding as of November 30, 2019 and August 31, 2019, respectively.	150	150
Additional paid in capital	(5,611,302)	(5,611,302)
Stock payable	0	0
Accumulated deficit	(3,072,852)	(3,055,687)
TOTAL SHAREHOLDERS' EQUITY	168,870	186,035
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 568,872	$ 568,638