Gray Fox Petroleum Corp.

CIK:0001546589|SEC Filings

Consolidated Results of Operations - USD ($)	3 Months Ended		9 Months Ended
Consolidated Results of Operations - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Investment income
Dividends	$ 4,438	$ 3,292	$ 12,667	$ 3,292
Total investment income	4,438	3,292	12,667	3,292
Operating expenses
General and administrative expenses	307,619	(12,345)	1,449,378	26,244
Total operating expenses	307,619	(12,345)	1,449,378	26,244
Operating income (loss)	(303,181)	15,637	(1,436,711)	(22,952)
Other income or (expense)
Interest expense	(140,992)		(266,531)
Realized gains or (losses) on trading securities			(39,464)	18,593
Unrealized gains or (losses) on trading securities		(41,000)	30,000	(65,499)
Change in value of derivative	66,269		(75,843)
Gain on exchange of equity for convertible debt			64,472
Total other income or (loss)	(74,723)	(41,000)	(135,680)	(46,906)
Net loss before income tax provision	$ (377,904)	$ (25,363)	$ (1,572,391)	$ (69,858)
Income tax (expense) / benefit
Net loss	$ (377,904)	$ (25,363)	$ (1,572,391)	$ (69,858)
Net loss per share, basic and fully diluted	$ (0.01)		$ (0.03)
Weighted average number of shares outstanding	60,601,185	37,994,889	51,325,723	37,994,889

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,572,391)	$ (69,858)
Adjustments to reconcile net loss with cash used in operations:
Stock-based compensation	1,161,400
Gain on conversion of stock payable to convertible notes payable	(64,472)
Unrealized (gain) loss from investments	(30,000)	65,499
Realized (gain) loss from investments	39,464	(18,593)
Amortization of discounts on notes payable	239,292
Change in value of derivative	75,843
Change in operating assets and liabilities:
Change in investments	15,536	19,027
Change in accounts payable and accrued expenses	166,240	5,574
Net cash used in operating activities	(120,774)	1,649
CASH FLOWS FROM INVESTING ACTIVITIES
Effect of reverse merger	(152,479)
Net cash provided by / used in investing activities	(152,479)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from convertible notes payable	333,000
Net cash provided by financing activities	333,000
Net increase/(decrease) in cash	59,747	1,649
Cash at beginning of period	44	19
Cash at end of period	59,791	$ 1,668
SUPPLEMENTAL DISCLOSURES
Cash paid for interest	$ 10,214
Cash paid for income taxes
ADDITIONAL DISCLOSURES OF NON-CASH FINANCING TRANSACTIONS
Discounts on convertible notes	$ 655,185
Stock payable converted to debt	184,870
Redemption of notes with new financing arrangement	187,522
Conversion of notes payable to common stock	18,280
Derivative settlement on notes payable converted to common stock	$ 85,967

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Mar. 31, 2015
ASSETS
Cash and equivalents	$ 59,791	$ 44
Investments at fair value	75,000	100,000
Total Current Assets	134,791	100,044
TOTAL ASSETS	134,791	100,044
CURRENT LIABILITIES
Accounts payable and accrued expenses	144,344	6,083
Accrued expenses, related party	8,461
Convertible notes payable, net of discounts of $371,588 and $0 at December 31, 2015 and March 31, 2015, respectively	159,757
Derivative liabilities	436,833
TOTAL CURRENT LIABILITIES	749,395	6,083
SHAREHOLDERS' EQUITY (DEFICIT)
Preferred stock, par value $0.001, authorized 20 million, 20 million and zero shares issued and outstanding at December 31, 2015 and March 31, 2015, respectively	20,000
Common stock, par value $0.001, authorized 675 million, 69,109,291 and 37,994,889 issued and outstanding at December 31 and March 31, 2015, respectively.	69,109	37,995
Additional paid-in capital	1,025,612	(36,442)
Common stock payable		249,342
Accumulated deficit	(1,729,325)	(156,934)
TOTAL SHAREHOLDERS' EQUITY (DEFICIT)	(614,604)	93,961
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	$ 134,791	$ 100,044