Halton Universal Brands Inc.

CIK:0001568693|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2015
Revenues
Airtime	$ 418,329			$ 418,329
Product Sales	612,500			612,500
Total Revenue	1,030,829			1,030,829
Cost of goods sold	(792,607)			(792,607)
Gross Margins	238,222			238,222
Operating expenses:
Management fees - related party	360,000			360,000
Sales and general administrative	(180,508)			258,790
Research and development expenses	36,790	$ 141,797	$ 432,782	1,066,025
Total operating expenses	216,282	141,797	432,782	1,684,815
Net Operating Income (Loss)	21,940	$ (141,797)	$ (432,782)	(1,446,593)
Loss from equity investments	(22,000)			(52,323)
Interest Income	5,028			8,191
Impairment of equity method investments	(1,376,208)			(1,376,208)
Net income (loss)	$ (1,371,240)	$ (141,797)	$ (432,782)	$ (2,866,933)
Weighted average shares outstanding	28,581,000	7,095,000	7,095,000	22,291,804
Net loss per share - Basic and fully diluted	$ (0.05)	$ (0.02)	$ (0.06)	$ (0.13)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	5 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015
Cash Flows from Operating Activities:
Net profit (loss) for the period	$ (432,782)	$ (2,866,933)
Adjustments to reconcile net loss to net cash used in operations
Loss on equity investments in period		52,323
Impairment of equity method investments		1,376,208
Changes in assets and liabilities, net of acquisition and disposals:
Accounts receivable		(357,752)
Deposits with suppliers		219,055
Accounts payable & accrued liabilities		39,156
Customer deposits		100,235
Net cash (used in) operating activities	$ (432,782)	$ (1,437,708)
Net cash used in investing activities	0
Cash Flows from Financing Activities:
Net cash provided by related parties	$ 432,782	$ (543,318)
Cash received from parent for subscription due		2,000,000
Cash received for the issuance of shares		3,000,000
Net cash provided by financing activities	$ 432,782	4,456,682
Net increase in cash and cash equivalents		3,018,974
Cash and cash equivalents, beginning of the Period		54
Cash and cash equivalents, end of the Period		$ 3,019,028
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Cash paid for interest
Cash paid for taxes
Investment in Paynovi Ltd.
1,361,000 common shares issued		$ 680,500
3,937,005 common shares issued by Power Clouds Inc.		748,030
Total Investment in PayNovi Ltd.		$ 1,428,530

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 3,019,028
Accounts receivable	357,752
Deposits with suppliers	121,171
Current Assets	3,497,951
Total Assets	3,497,951
Current Liabilities
Accounts payable and Accrued Liabilities	40,107
Customer deposits	100,235
Payable to related parties	1,130,100	$ 925,388
Total current liabilities	1,270,442
Stockholders' Equity (Deficit)
Net Common stock, $0.001 par value; 75,000,000 shares authorized, 28,581,000 and 15,220,000 shares issued and outstanding as of September 30, 2015 and December 31, 2014 respectively.	28,581
Additional paid-in capital	$ 5,651,973
Subscription due from parent company
Accumulated (deficit)	$ (3,453,045)
Total Stockholders' Equity (Deficit)	2,227,509	(586,058)
Total Liabilities and Stockholders' Equity (Deficit)	$ 3,497,951
As restated
Current Assets
Cash and cash equivalents		$ 54
Accounts receivable
Deposits with suppliers		$ 340,226
Current Assets		340,280
Total Assets		340,280
Current Liabilities
Accounts payable and Accrued Liabilities		$ 950
Customer deposits
Payable to related parties		$ 925,388
Total current liabilities		926,338
Stockholders' Equity (Deficit)
Net Common stock, $0.001 par value; 75,000,000 shares authorized, 28,581,000 and 15,220,000 shares issued and outstanding as of September 30, 2015 and December 31, 2014 respectively.		15,220
Additional paid-in capital		1,984,834
Subscription due from parent company		(2,000,000)
Accumulated (deficit)		(586,112)
Total Stockholders' Equity (Deficit)		(586,058)
Total Liabilities and Stockholders' Equity (Deficit)		$ 340,280