Artex Corp.

CIK:0001605740|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Consolidated Statements of Operations and Comprehensive Income [Abstract]
REVENUES	$ 92,774	$ 151,480	$ 144,259	$ 151,480
COST OF GOODS SOLD	39,179	129,533	62,743	129,533
GROSS PROFIT	53,595	21,947	81,516	21,947
OPERATING EXPENSES
General and administrative	17,023	79,916	68,495	154,786
Professional fees	23,900	15,639	73,255	29,035
Total Operating Expenses	40,923	95,555	141,750	183,821
Operating Loss	12,672	(73,608)	(60,234)	(161,874)
OTHER EXPENSE
Interest expense - related party	(22,492)	(22,219)	(67,254)	(63,968)
Total Other Expense	(22,492)	(22,219)	(67,254)	(63,968)
LOSS FROM OPERATION BEFORE INCOME TAXES	(9,820)	(95,827)	(127,488)	(225,842)
Income taxes
NET LOSS	(9,820)	(95,827)	(127,488)	(225,842)
Net loss attributable to the noncontrolling interest	(362)	1,417	1,285	2,818
NET LOSS ATTRIBUTABLE TO THE SHAREHOLDERS OF AGRIEURO CORP.	(10,182)	(94,410)	(126,203)	(223,024)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustments	55,971	55,768	88,618	(152,478)
Other comprehensive gain (loss) attributable to the noncontrolling interest	(1,343)	(1,338)	(2,127)	3,660
OTHER COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TOHE SHAREHOLDERS OF AGRIEURO CORP.	54,628	54,430	86,491	(148,818)
NET LOSS AND OTHER COMPREHENSIVE INCOME (LOSS)	$ 44,446	$ (39,980)	$ (39,712)	$ (371,842)
Basic and Diluted Loss per Common Share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Basic and Diluted Weighted Average Common Shares Outstanding	256,000,000	256,000,000	256,000,000	237,245,421

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (127,488)	$ (225,842)
Adjustments to reconcile net loss to net cash from operating activities:
Non-cash interest expense	66,494	63,968
Depreciation	39,198	19,987
Changes in operating assets and liabilities:
Accounts receivable	(13,366)	(95,884)
Inventory	(41,030)	34,186
Other assets	(10,425)	(34,583)
Accounts payable and accrued liabilities	31,405	68,725
Liabilities assumed in reverse acquisition		(26,960)
Net cash used in operating activities	(55,212)	(196,403)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash received from reverse acquisition		17
Capital expenditures	(13,249)	(218,302)
Net cash used in investing activities	(13,249)	(218,285)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds borrowing from related parties	63,958	435,037
Proceeds from note issuance	29,546
Principal payments on borrowings, related party	(25,565)	(9,303)
Net cash provided by financing activities	67,939	425,734
Effects on changes in foreign exchange rate	344	(3,048)
Net increase in cash and cash equivalents	(178)	7,998
Cash and cash equivalents - beginning of period	20,656	4,882
Cash and cash equivalents - end of period	20,478	12,880
Supplemental Cash Flow Disclosures
Cash paid for interest
Cash paid for income taxes
Non-cash capital expenditures		$ 107,082

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 20,478	$ 20,656
Accounts receivable	38,539	23,777
Inventory	53,109	10,661
Other current assets	58,924	46,185
Total Current Assets	171,050	101,279
Property, plant and equipment, net	4,133,968	3,977,181
TOTAL ASSETS	4,305,018	4,078,460
Current Liabilities
Accounts payable and accrued liabilities	81,714	47,473
Short term note	30,214
Short term notes payable - related parties	1,836,326	1,730,635
Total Current Liabilities	1,948,254	1,778,108
Notes payable - related party	515,230	486,950
TOTAL LIABILITIES	2,463,484	2,265,058
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Common stock, par value $0.001, 750,000,000 shares authorized, 256,000,000 shares issued and outstanding, respectively	256,000	256,000
Additional paid-in capital	3,062,348	2,995,344
Accumulated deficit	(977,261)	(851,058)
Accumulated other comprehensive loss	(541,190)	(627,679)
Total AgriEuro Corp. Stockholders' Equity	1,799,897	1,772,607
Noncontrolling interest	41,637	40,795
TOTAL STOCKHOLDERS' EQUITY	1,841,534	1,813,402
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 4,305,018	$ 4,078,460