Blockchain Solutions, Inc.

CIK:0001610462|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating Expenses:
Professional fees	$ 4,000	$ 22,000	$ 20,938	$ 46,194
General and administrative	31,267	5,245	68,821	14,007
Depreciation and amortization	20	21	41	132
Loss on fixed asset disposal				1,242
Loss from operations	(35,287)	(27,266)	(89,800)	(61,575)
Other income (expenses):
Rental income - related party	3,000	3,000	6,000	6,000
Gain (loss) on changes in fair value of derivative liability	(1,474)	7,594,070	168,358	554,315
Interest expense	(159,065)	(104,981)	(329,289)	(212,635)
Total other income (expense), net	(157,539)	7,492,089	(154,931)	347,680
Net income (loss) from continuing operations	(192,826)	7,464,823	(244,731)	286,105
Discontinued operations:
Loss from discontinued operations, net of income taxes
Net income (loss)	$ (192,826)	$ 7,464,823	$ (244,731)	$ 286,105
Basic and diluted net income (loss) per share - Continuing operations	$ (0.16)	$ 6.22	$ (0.20)	$ 0.24
Basic and diluted net income (loss) per share - Discontinued operations
Basic and diluted net income (loss) per share	$ (0.16)	$ 6.22	$ (0.20)	$ 0.24
Weighted average number of common shares outstanding Basic and diluted	1,200,043	1,200,043	1,200,043	1,200,043

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (244,731)	$ 286,105
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on disposal of fixed assets		1,242
Depreciation	41	132
Amortization of discounts on convertible notes	71,951	40,694
Change in fair value of derivative liabilities	(168,358)	(554,315)
Other non cash interest expense	33,819	5,620
Expenses paid by related party	35,344	3,104
Change in operating assets and liabilities:
Decrease (increase) in rent receivable, related party
Decrease (increase) in prepaid assets and other	718	4,000
Increase in accounts payable and accrued expenses	255,059	218,926
Increase in accounts payable and accrued expenses, stockholder	20,002
Net cash provided by operating activities - continuing operations	3,845	5,508
Net cash provided by (used in) operating activities - discontinued operations	494	492
Net cash provided by operating activities	4,339	6,000
Cash flows from investing activities:
Net cash used in investing activities - discontinued operations
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from issuance of convertible debt from related party	20,000
Net cash used in financing activities - continuing operations	20,000
Net cash used in financing activities - discontinued operations
Net cash used in financing activities	20,000
Net increase in cash	24,339	6,000
Cash, beginning	13,582	1,582
Cash, ending	37,921	7,582
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes
Schedule of non-cash financing activities
Original issue discount on convertible promissory notes	33,819	5,620
Accounts payable paid directly by a related party lender	16,607	53,097
Debt discount for derivatives	$ 71,951	$ 40,694

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 37,921	$ 13,582
Prepaid assets and other		718
Total current assets	37,921	14,300
Land and property, furniture and fixtures and equipment, net of accumulated depreciation of $3,545 (2018) and $3,504 (2017)	180,193	180,234
Total assets	218,114	194,534
Current Liabilities:
Accounts payable and accrued expenses	755,450	516,997
Accounts payable and accrued expenses, related	36,353	16,351
Note payable	170,000	170,000
Convertible notes payable, related party	1,458,391	1,379,245
Derivative liability	2,468,861	2,538,644
Liabilities of discontinued operations	123,440	122,947
Total current liabilities	5,012,495	4,744,184
Total liabilities	5,012,495	4,744,184
Stockholders' Deficit:
Common stock, $0.001 par value; 300,000,000 shares authorized; 1,200,043 shares issued and outstanding	1,200	1,200
Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A preferred stock, $0.001 par value; 100 shares issued and outstanding
Additional paid-in capital	5,141,459	5,141,459
Accumulated deficit	(9,937,040)	(9,692,309)
Total stockholders' deficit	(4,794,381)	(4,549,650)
Total liabilities and stockholders' deficit	$ 218,114	$ 194,534