SATYA WORLDWIDE, INC.

CIK:0001606069|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Revenue
Sales
Operating expenses
General and administrative	744,745	937,123
Research & development	194,789	328,347
Depreciation and amortization	1,160	295
Loss on abandonment of property and equipment		14,652
Loss on impairment of intangible assets		990,592
Total operating expenses	940,694	2,271,009
Net loss from operations	(940,694)	(2,271,009)
Other income (expense), net
Interest, net	(412,994)	(151,904)
Foreign currency exchange gain/(loss)	5,525	(3,283)
Total other income (expense), net	(407,469)	(155,187)
Net loss before income taxes	(1,348,163)	(2,426,196)
Provision for income taxes
Net loss	(1,348,163)	(2,426,196)
Other comprehensive income
Currency translation loss	1,918	1,084
Comprehensive loss	$ (1,346,245)	$ (2,425,112)
Net loss per common share, basic and diluted	$ (0.02)	$ (0.04)
Weighted average common shares outstanding, basic and diluted	62,486,857	59,139,654

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,348,163)	$ (2,426,196)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,160	295
Loss on impairment of intangible assets		990,592
Loss on abandonment of property and equipment		14,652
Amortization of debt discount	265,087
Direct payment of expenses through short term note - related party	31,286	338,940
Stock issued for services	112,500
Changes in operating assets and liabilities:
Other assets	(565)	1,876
Accounts payable and accrued expenses	356,193	86,417
Deferred revenue	33,736
Net cash used in operating activities	(548,766)	(993,424)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short term note - related party		206,686
Proceeds from loan payable - related party		10,780
Repayment of loan payable - related party		(9,995)
Shares issued for cash	399,325	518,206
Proceeds from loan payable	50,000
Net cash provided by financing activities	449,325	725,677
Effect of exchange rate changes on cash	(5,106)	(3,985)
Decrease in cash and cash equivalents	(104,547)	(271,732)
Cash and cash equivalents, beginning of year	118,059	389,791
Cash and cash equivalents, end of year	13,512	118,059
Supplemental disclosures of cash flow information:
Cash paid during the year for: interest	(109,379)	128,089
Cash paid during the year for: taxes
Non cash investing and financing activities:
Debt discount - beneficial conversion feature	$ 1,448,732

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 13,512	$ 118,059
Total current assets	13,512	118,059
Property and equipment, net	1,998	349
Other assets	1,900	1,310
Total assets	17,410	119,718
Current liabilities
Accounts payable and accrued liabilities	341,618	86,613
Short term note, net of discount of $1,183,645 and $0, respectively	265,087	1,321,148
Loan payable	50,700
Loan payable - related party	785	785
Deferred revenue	33,736
Total current liabilities	691,926	1,408,546
Total liabilities	691,926	1,408,546
Commitments and contingencies
Stockholders' equity
Preferred stock par value $0.001: 20,000,000 authorized; no shares issued or outstanding as of December 31, 2017 and 2016
Common stock par value $0.0001: 280,000,000 shares authorized; 62,693,346 and 61,054,818 shares issued and outstanding as of December 31, 2017 and 2016, respectively	6,269	6,105
Additional paid in capital	3,985,544	2,025,151
Accumulated other comprehensive income	18,665	16,747
Accumulated deficit	(4,684,994)	(3,336,831)
Total stockholders' deficit	(674,516)	(1,288,828)
Total liabilities and stockholders' deficit	$ 17,410	$ 119,718