Next Graphite, Inc.

CIK:0001563315|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
NET SALES
OPERATING EXPENSES:
Professional fees	96,222	112,996
Selling, general, and administrative	10,191	8,151
Total Operating Expenses	106,413	121,147
Loss from operations	(106,413)	(121,147)
OTHER INCOME (EXPENSE):
Other Income	1,775
Gain on the sale of subsidiary	177,493
Interest expense	(6,195)	(18,492)
Changes in fair value of derivative	(7,720)	(161,129)
Total Other Income (Expenses), net	165,353	(179,621)
NET INCOME/(LOSS)	$ 58,940	$ (300,768)
NET INCOME/(LOSS) PER BASIC SHARES	$ 0.00	$ 0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	51,411,443	74,723,843
NET INCOME/(LOSS) PER BASIC AND DILUTED SHARES	$ 0.00	$ 0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING -DILUTED	67,060,094	74,723,843

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities:
Net income/(loss)	$ 58,940	$ (300,768)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Change in deposit balance	(177,493)
Stock based compensation	48,558	5,449
Interest expense - note payable	3,439	11,142
Interest expense - amortization of convertible note discount	2,554	7,350
Changes in fair value of convertible note	7,720	161,129
Accounts payable	11,946	88,565
Deposit	44,522
Net cash provided by (used in) operating activities	186	(27,133)
Financing Activities:
Proceeds from issuance of note payable		26,983
Net cash provided by financing activities		26,983
Net increase (decrease) in cash	186	(150)
Cash, Beginning of period	9,299	15,563
Cash, End of period	9,485	15,413
Non-Cash Transaction:
Change in deposit balance	$ 177,493

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 9,485	$ 9,299
Total current assets:	9,485	9,299
Total assets	9,485	9,299
Current liabilities:
Accounts payable	419,859	407,913
Accrued interest payable	34,763	28,770
Note payable, net of debt discount $1,517 and $1,517, respectively	145,483	145,483
Note payable - related parties	16,000	16,000
Convertible note payable	121,000	121,000
Fair value of derivative liability - beneficial conversion feature	46,476	38,756
Deposit		132,971
Total current liabilities	783,581	890,893
Total liabilities	783,581	890,893
Stockholders' deficit:
Preferred stock authorized 25,000,000 shares, $.0001 par value, no shares issued and outstanding at March 31, 2017 and December 31, 2016.
Common stock authorized 100,000,000 shares, $.0001 par value, 51,411,443 shares issued and outstanding at March 31, 2017 and December 31, 2016.	5,141	5,141
Additional paid-in capital	4,223,728	4,175,170
Accumulated deficit	(5,002,965)	(5,061,905)
Total stockholders' deficit	(774,096)	(881,594)
Total liabilities and stockholders' deficit	$ 9,485	$ 9,299