Nevada | 20-4743354 | |||
(State | ( | I.R.S. EmployerIdentification No.) |
2101 Vista Parkway., Suite 292 West Palm Beach, Florida | 33411 | |||
(Address of principal executive offices) | (Zip Code) |
2009 | 2008 | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash | $ | 0 | $ | 0 | ||||
Prepaid expenses | 0 | 0 | ||||||
Total current assets | 0 | 0 | ||||||
OTHER ASSETS | ||||||||
Other assets | 0 | 0 | ||||||
Total other assets | 0 | 0 | ||||||
Total Assets | $ | 0 | $ | 0 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
CURRENT LIABILITIES | ||||||||
Accounts payable and accrued liabilities | $ | 0 | $ | 0 | ||||
Accrued interest payable | 10,071 | 5,267 | ||||||
Total current liabilities | 10,071 | 5,267 | ||||||
LONG-TERM LIABILITIES | ||||||||
Long-term line of credit payable | 57,156 | 36,069 | ||||||
Total long-term liabilities | 57,156 | 36,069 | ||||||
Total Liabilities | 67,227 | 41,336 | ||||||
STOCKHOLDERS’ EQUITY | ||||||||
Common stock, $0.001 par value, authorized 500,000,000 shares; 340,632 issued and outstanding | 340 | 340 | ||||||
Additional paid-in capital | 33,690 | 33,690 | ||||||
Deficit accumulated during the pre-exploration stage | (101,257 | ) | (75,366 | ) | ||||
Total stockholders’ equity | (67,227 | ) | (41,336 | ) | ||||
Total Liabilities and Stockholders’ Equity | $ | 0 | $ | 0 |
2009 | 2008 | Cumulative from February 24, 2004 (inception) to June 30, 2009 | ||||||||
REVENUES | $ | 0 | $ | 0 | $ | 0 | ||||
OPERATING EXPENSES: | ||||||||||
General and administrative expenses | 11,962 | 21,071 | 82,061 | |||||||
Interest expense | 4,804 | 3,478 | 10,071 | |||||||
Professional fees | 9,125 | 0 | 9,125 | |||||||
Total expenses | 25,891 | 24,549 | 101,257 | |||||||
Net income (loss) | $ | (25,891 | ) | $ | (24,549 | ) | $ | (101,257 | ) | |
Income (loss) per weighted average common share | $ | (0.01 | ) | $ | (0.01 | ) | ||||
Number of weighted average common shares outstanding | 340,632 | 340,632 |
Number of Shares | Common Stock | Additional Paid-in Capital | Deficit Accumulated During the Pre-exploration Stage | Total Stockholders’ Equity | ||||||||||||||||
BEGINNING BALANCE, July 1, 2005 | 34,030,390 | $ | 34,030 | $ | 0 | $ | (34,030 | ) | $ | 0 | ||||||||||
Net loss | 0 | 0 | 0 | (8,582 | ) | (8,582 | ) | |||||||||||||
BALANCE, June 30, 2006 | 34,030,390 | 34,030 | 0 | (42,612 | ) | (8,582 | ) | |||||||||||||
Net loss | 0 | 0 | 0 | (8,205 | ) | (8,205 | ) | |||||||||||||
BALANCE, June 30, 2007 | 34,030,390 | 34,030 | 0 | (50,817 | ) | (16,787 | ) | |||||||||||||
1 for 100 reverse split | (33,690,086 | ) | (33,690 | ) | 33,690 | 0 | 0 | |||||||||||||
Net loss | 0 | 0 | 0 | (24,549 | ) | (24,549 | ) | |||||||||||||
BALANCE, June 30, 2008 | 340,304 | 340 | 33,690 | (75,366 | ) | (41,336 | ) | |||||||||||||
Net loss | 0 | 0 | 0 | (25,891 | ) | (25,891 | ) | |||||||||||||
ENDING BALANCE, June 30, 2009 | 340,304 | $ | 340 | $ | 33,690 | $ | (101,257 | ) | $ | (67,227 | ) | |||||||||
2009 | 2008 | Cumulative from February 24, 2005 (inception) to June 30, 2009 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||
Net loss | $ | (25,891 | ) | $ | (24,549 | ) | $ | (101,257 | ) | |||
Adjustments to reconcile net loss to net cash used by operating activities: | ||||||||||||
Common stock issued for services | 0 | 0 | 25,000 | |||||||||
Changes in operating assets and liabilities | ||||||||||||
Increase (decrease) in accounts payable - trade | 0 | 0 | 0 | |||||||||
Increase (decrease) in accrued interest | 4,804 | 3,478 | 10,071 | |||||||||
Net cash provided (used) by operating activities | (21,087 | ) | (21,071 | ) | (66,186 | ) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
Deposit on options | 0 | 0 | 0 | |||||||||
Net cash provided (used) by investing activities | 0 | 0 | 0 | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Common stock issued for cash | 0 | 0 | 9,030 | |||||||||
Proceeds from line of credit payable | 21,087 | 21,071 | 57,156 | |||||||||
Payments on notes payable | 0 | 0 | 0 | |||||||||
Net cash provided by financing activities | 21,087 | 21,071 | 66,186 | |||||||||
Net increase (decrease) in cash | 0 | 0 | 0 | |||||||||
CASH, beginning of period | 0 | 0 | 0 | |||||||||
CASH, end of period | $ | 0 | $ | 0 | $ | 0 | ||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||||
Non-Cash Financing Activities: | ||||||||||||
None |
Name and Principal Position | Year | Salary | Bonus | Stock Awards | Option Awards | Non-Equity Incentive Plan Compensation | All Other Compensation | Total | |||||||||||||||||||||
Andrew Godfrey | 2009 | $ | 0.00 | $ | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
2008 | 0.00 | 0 | 0 | 0 | 0 | 0 | 0 |
Name and Address | Title of Class | Common Stock Beneficially Owned | Number Percent (1) |
Jason Smart* | Common | 250,000 | 73.39% |
First Quantum Ventures, Inc. | ||
(Registrant) | ||
Date: March 14, 2011 | By: | /s/ Andrew Godfrey |
Andrew Godfrey, President and Chairman | ||
Signature | Title | Date | ||
/s/ Andrew Godfrey | President & Chairman | | March 14, 2010 | |
Andrew Godfrey |