Leo Motors (LEOM) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 09, 2016
Document and Entity Information
Entity Registrant Name	Leo Motors, Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Entity Central Index Key	1,356,564
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		165,687,913
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	leom

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 1,497,771		$ 243,809	$ 192,845	$ 466,458	$ 217,178
Accounts receivable	978,069		1,565,114		952,378
Inventories	869,213		496,971		295,159
Prepayment to suppliers	625,370		279,229		297,720
Other current assets	22,210		32,107		228,192
Total Current Assets	3,992,633		2,617,230		2,239,907
Fixed assets, net	133,651		163,001		185,984
Deposit	346,255		346,659		227,896
Intangible assets	88,503		63,831		63,831
Goodwill	3,717,931		3,057,003		3,057,003
Total Assets	8,278,973		6,247,724		5,774,621
Current Liabilities:
Accounts payable and accrued expenses	4,882,656		4,082,198		3,313,266
Short term borrowings	0		7,661		471,689
Advance from customers	757,617		795,431		44,035
Due to related parties	108,000		140,396		116,617
Taxes payable	59,458		99,584		241,021
Notes Payable current portion	145,560	$ 145,560	49,397		353,747
Total Current Liabilities	5,953,291		5,174,667		4,540,375
Accrued retirement benefits	160,878		92,948		2,075
Notes payable long term	240,214		273,646		327,701
Other long term liabilities	126,361		129,748
Total Liabilities	6,480,744		5,671,009		4,870,151
Commitments (Note 8)
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock ($0.001 par value; 300,000,000 shares authorized); 164,124,118 and 158,948,604 shares issued and outstanding at September 30, 2016 and December 31, 2015	164,124		158,949		154,144
Additional paid-in capital	21,052,333		20,367,272		19,396,940
Accumulated other comprehensive income	1,280,985		1,251,120		507,974
Accumulated loss	(27,953,301)		(25,404,609)		(21,883,963)
Total Equity(Deficit) Leo Motors, Inc.	(5,455,859)		(3,627,268)		(1,824,905)
Non-controlling interest	7,254,088		4,203,983		2,729,375
Total Equity(Deficit)	1,798,229		576,715		904,470
Total Liabilities and Equity(Deficit)	$ 8,278,973		$ 6,247,724		$ 5,774,621

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position
Common Stock, par or stated value	$ 0.001	$ 0.001
Common Stock, shares authorized	300,000,000	220,000,000
Common Stock, shares issued	164,124,118	158,948,604
Common Stock, shares outstanding	164,124,118	158,948,604

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Statement
Revenues	$ 792,037	$ 922,326	$ 2,344,199	$ 2,331,294
Cost of Revenues	503,484	414,240	1,484,572	1,027,969
Gross Profit	288,553	508,086	859,627	1,303,325
Operating Expenses	1,759,520	956,180	3,676,871	3,138,024
Income(loss) from Continuing Operations	(1,470,967)	(448,094)	(2,817,244)	(1,834,699)
Other Income (Expenses)
Interest expense	(7,817)	(3,031)	(25,581)	(313,332)
Non-Operating (expense) income	60,100	38,636	96,597	41,553
Total Other Income (Expenses)	52,283	35,605	71,016	(271,779)
Income(loss) from Continuing Operations Before Income Taxes	(1,418,684)	(412,489)	(2,746,228)	(2,106,478)
Income Tax Expense	459	0	459	0
Net Income(Loss)	(1,419,143)	(412,489)	(2,746,687)	(2,106,478)	$ (2,106,478)
Income(loss) attributable to non-controlling interest	(126,853)	(55,017)	(213,743)	(150,422)
Net Income(Loss) Attributable To Leo Motors, Inc.	(1,292,290)	(357,472)	(2,532,944)	(1,956,056)
Other Comprehensive Income:
Net Income (Loss)	(1,419,143)	(412,489)	(2,746,687)	(2,106,478)	$ (2,106,478)
Unrealized foreign currency translation gain	(205,495)	29,447	(29,865)	286,611
Comprehensive Income(loss) Attributable to Leo Motors, Inc.	$ (1,624,638)	$ (383,042)	$ (2,776,552)	$ (1,819,867)
Net Loss per Common Share:
Basic	$ (0.01)	$ 0	$ (0.02)	$ (0.01)
Diluted	$ (0.01)	$ 0	$ (0.02)	$ (0.01)
Weighted Average Common Shares Outstanding:
Basic	163,919,011	158,163,934	162,853,353	154,950,420	154,950,420
Diluted	163,919,011	158,163,934	162,853,353	154,950,420

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from Operating Activities:
Net loss	$ (2,746,687)	$ (2,106,478)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	66,286	186,973
Amortization debt discount	0	275,176
Foreign currency translation	29,865	(286,611)
Stock-based compensation	206,112	488,046
Changes in assets and liabilities:
Accounts Receivable	587,045	(1,151,979)
Inventories	(372,242)	(479,169)
Prepayment to suppliers	(346,141)	(407,610)
Other assets	10,301	(423,676)
Accounts payable, other payables and accrued expenses	797,071	357,970
Accrued retirement benefits	67,930	21
Advances from customers	(37,814)	7,458
Taxes payable	(40,126)	57,844
Net cash used in operating activities:	(1,778,400)	(3,482,035)
Cash flows from investing activities:
Investment in assets	(61,608)	(294,654)
Net cash provided(used) in investing activities:	(61,608)	(294,654)
Cash flows from financing activities:
Proceeds from notes payable	423,448	427,208
Proceeds on related party debt net	32,396	0
Payments on notes payable	(235,175)	(505,977)
Payments on notes payable - related party	0	(56,258)
Proceeds from issuance of stock & warrants	2,873,301	3,887,383
Net cash provided(used) by financing activities:	3,093,970	3,752,356
Net Increase in cash and cash equivalents:	1,253,962	(24,333)
Cash and cash equivalents - beginning of year	243,809	217,178
Cash and cash equivalents - end of period	1,497,771	192,845
Supplemental disclosure of cash flow activities:
Interest	25,581	18,825
Income taxes	0	0
Supplemental disclosures of non cash activities:
Conversion of derivative liability	0	819,922
Goodwill on acquisition	660,928	612,445
Conversion of debt for common stock	0	1,901,433
Common stock issued for services	$ 206,112	$ 488,046

Note 1 - Company Background

Note 1 - Company Background	9 Months Ended
	Sep. 30, 2016
Notes
Note 1 - Company Background	NOTE 1 - COMPANY BACKGROUND Leo Motors, Inc. (the "Company" or "we") is currently in the business of the development, assembly and sales of energy storage devices and electric vehicle components. The Company was originally incorporated in California as N. Org., Inc. on December 12, 1983. The Company then underwent several name changes from Natural Organics Corporation to Classic Auto Accessories of North America and then to FCR Automotive Group, Inc. On September 20, 2004, the Company reincorporated in Delaware by merging into FCR Group, Inc., a Delaware Automotive corporation, which was organized on September 8, 2004. On July 26, 2005, the Company acquired Shinil Precision Co., Ltd., a Korean Company, as its operating business and on July 18, 2005, changed its name to Shinil Precision Machinery, Inc. to reflect its anticipated new business. Upon failure of certain terms and conditions of the acquisition agreement, the Company returned the shares of Shinil and recovered and cancelled the Company's shares issued in the acquisition. In 2012, the Company changed its domicile to Nevada. The Company had been dormant since 1989, and consummated a reverse merger on November 12, 2007 with Leozone Inc., a South Korean corporation ("Leozone"), which is a maker of electrical transportation devices. The merger essentially exchanged shares of the Company for shares in Leozone. As this was a reverse merger, the accounting treatment of such is that of a combination of the two entities with the activity of Leozone the surviving entity, going forward. The financial statements reflect the activity for all periods presented as if the merger had occurred January 1, 2007. Leozone has continued to operate as a separate subsidiary, Leo Motors Co. Ltd. of Korea, since that time. On February 11, 2010, the Company acquired 50% of Leo B&T Corp., a South Korean corporation ("B&T"), from two shareholders of B&T in exchange for 7,000,000 shares of the Company's common stock. Our ownership in B&T was reduced to 30% in 2011. Additionally, this investment was written down as impairment expense during 2011 and the remaining investment was exchanged in 2012 for a return of the Company’s stock. On November 10, 2012, the Company signed an agreement with PDI C&D/RDC SPRL Inc. ("PDI"), an affiliate of PDI Global LLC, a major architectural design company in the U.S., to supply an independent solar power system grafted with the Company's E-Box power storage device for a housing project in the Democratic Republic of the Congo ("DRC"). The Company will have a 10% interest in the overall project. This project has incurred an impairment charge as details in these footnotes. On July 1, 2014, the Company acquired all of the outstanding common stock of LGM Co. Ltd., a corporation incorporated in the Republic of Korea ("LGM"), from LGM's shareholders, which represents 813,747 shares of LGM common stock, in exchange for 47,352,450 shares of the Company's common stock pursuant to the Share Swap Agreement entered into by and between LGM and the Company. Upon closing of the Share Swap Agreement, LGM became a wholly-owned subsidiary of the Company. On March 31, 2015, the Company acquired 50% interest in each of Leo Motors Factory, Inc. ("Leo Factory 1") and Leo Motors Factory 2, Inc. ("Leo Factory 2") which are auto repair shops that specialize in repairing hand-made luxury cars such as Ferrari, Lamborghini, Bentley, Porsche, and Rolls Royce. The Company also acquired 50% interest in Leo Trading Inc. (formerly Erum Motors, Inc.) ("Leo Trade") specializing in the trading of luxury cars. These acquired entities will be presented on a consolidated basis as the parent company has significant control of the business through the Board of Directors which can decide decisions split on strictly on common share ownership percentages. On June 3, 2016, the Company acquired a 50% interest in Lelcon Co., LTD. The Company develops car diagnostic and controlling device. The company is based in South Korea. As of June 3, 2016, Lelcon Co., Ltd. operates as a subsidiary of the Company.

Note 2 - Policies

Note 2 - Policies	9 Months Ended
	Sep. 30, 2016
Notes
Note 2 - Policies	NOTE 2 -POLICIES This summary of significant account policies of the Company is presented to assist in understanding the Company's financial statements. The financial statements and the notes are the representation of the Company's management, who are responsible for their integrity and objectivity. These accounting policies conform to U.S. generally accepted accounting principles ("USGAAP") and have been consistently applied in the preparation of the financial statements. Basis of Presentation and Consolidation These financial statements and related notes are expressed in US dollars. The Company's fiscal year-end is December 31. The consolidated financial statements include the financial statements of the Leo Motors Co. Ltd. Korea and LGM Co. LTD where the Parent Company has significant control. All inter-company transactions and balances have been eliminated upon consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments For certain of the Company's financial instruments, including cash and cash equivalents, accounts receivable inventory and prepaid expenses, accounts payable and deferred revenues, the carrying amounts approximate fair value due to their short maturities. Revenue Recognition The Company follows the guidance of the Securities and Exchange Commission's Staff Accounting Bulletin No. 104, "Revenue Recognition in Financial Statements". In general, the Company records revenue when persuasive evidence of an arrangement exists, services have been rendered or product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. The following policies reflect specific criteria for the various revenues streams of the Company. The Company generates revenue from the delivery of goods and records revenues when the sales are completed, already collected or collectability is reasonably assured, there is no future obligation and there is remote chance of future claim or refund to the customers. Revenue is recognized when risk of ownership and title pass to the buyer, generally upon the delivery of professional services. Pricing is fixed and determinable according to the Company's published brochures and price lists. Accounts Receivables Accounts receivables of the Company are reviewed to determine if their carrying value has become impaired. The Company considers the assets to be impaired if the balances are greater than one-year old. Management regularly reviews accounts receivable and will establish an allowance for potentially uncollectible amounts when appropriate. When accounts are written off, they will be charged against the allowance. Receivables are not collateralized and do not bear interest. Cash Equivalents For purposes of reporting cash flows, the Company considers all short-term investments with an original maturity of three months or less to be cash equivalent. Fixed Assets Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which is generally 3 to 10 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in other income (expense). The Company will periodically evaluate whether events and circumstances have occurred that may warrant revision of the estimated useful lives of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. We use an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability. Intangible and Long Lived Assets The Company follows ASC 360-10, "Property, Plant, and Equipment," Income Taxes The Company uses the asset and liability method of accounting for income taxes in accordance with ASC 740-10, "Accounting for Income Taxes." Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year; and, (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if, based on the weight of available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken or expected to be taken on a tax return. Under ASC 740-10, a tax benefit from an uncertain tax position taken or expected to be taken may be recognized only if it is "more likely than not" that the position is sustainable upon examination, based on its technical merits. The tax benefit of a qualifying position under ASC 740-10 would equal the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority having full knowledge of all the relevant information. A liability (including interest and penalties, if applicable) is established to the extent a current benefit has been recognized on a tax return for matters that are considered contingent upon the outcome of an uncertain tax position. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable. Loss per Share Basic earnings (loss) per share is computed by dividing net income, or loss, by the weighted average number of shares of common stock outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income, or loss, by the weighted average number of shares of both common and preferred stock outstanding for the period. Stock-Based Compensation SFAS No. 123, "Accounting for Stock-Based Compensation," establishes and encourages the use of the fair value based method of accounting for stock-based compensation arrangements under which compensation cost is determined using the fair value of stock-based compensation determined as of the date of grant and is recognized over the periods in which the related services are rendered. For stock based compensation the Company recognizes an expense in accordance with SFAS No. 123 and values the equity securities based on the fair value of the security on the date of grant. Stock option awards are valued using the Black-Scholes option-pricing model. Foreign Currency Translation and Comprehensive Income The reporting currency of the Company is the US$. The functional currency of the parent company is the US$ and the functional currency of the Company's operating subsidiary is Korean Won ("KRW"). The subsidiary's results of operations and cash flows are translated at average exchange rates during the year, assets and liabilities are translated at the unified exchange rate at the end of the year, and equity is translated at historical exchange rates. Translation adjustments resulting from the process of translating the functional currency financial statements into US$ are included in determining comprehensive income. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. The Company does not enter any material transaction in foreign currencies and accordingly, transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company. Recent Accounting Pronouncements The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company's financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company's financials properly reflect the change. The Company currently does not have any recent accounting pronouncements that they are studying and feel may be applicable.

Note 3 - Earnings Per Share

Note 3 - Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Notes
Note 3 - Earnings Per Share	NOTE 3 - EARNINGS PER SHARE The Company reports basic and diluted earnings per share (EPS) according to the provisions of ASC Topic 260, which requires the presentation of basic EPS and, for companies with complex capital structures, diluted EPS. Basic EPS excludes dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income (loss) available to common stockholders, adjusted by other changes in income or loss that would result from the assumed conversion of those potential common shares, by the weighted number of common shares and common share equivalents (unless their effect is antidilutive) outstanding. Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be antidilutive. Thus, these equivalents are not included in the calculation of diluted loss per share, resulting in basic and diluted loss per share being equal. The following is a reconciliation of the computation for basic and diluted EPS for the six months ended September 30, 2016 and 2015: For the periods ended 9/30/2016 9/30/2015 Net Income (Loss) $(2,746,687) $(2,106,478) Weighted-average common stock Outstanding - basic 162,853,353 154,950,420 Equivalents Stock options - 0 Warrants - 0 Convertible Notes 0 0 Weighted-average common shares outstanding- Diluted 162,853,353 154,950,420

Note 4 - Due To Related Party

Note 4 - Due To Related Party	9 Months Ended
	Sep. 30, 2016
Notes
Note 4 - Due To Related Party	NOTE 4 - DUE TO RELATED PARTY The company is indebted to its officers for advances. Repayment is on demand without interest and the funds are used for working capital as needed. The balance was $108,000 at September 30, 2016 and $140,396 at December 31, 2015.

Note 5 - Payments Received in A

Note 5 - Payments Received in Advance	9 Months Ended
	Sep. 30, 2016
Notes
Note 5 - Payments Received in Advance	NOTE 5 - PAYMENTS RECEIVED IN ADVANCE The Company during the periods received payments from potential customers, or deposits, on future orders. The Company's policy is to record these payments as a liability until the product is completed and shipped to the customer at which the Company recognizes revenue. As of September 30, 2016 and December 31, 2015, the balance of payments received in advance was $625,370 and $ 279,229, respectively.

Note 6 - Going Concern

Note 6 - Going Concern	9 Months Ended
	Sep. 30, 2016
Notes
Note 6 - Going Concern	NOTE 6 - GOING CONCERN As reported in the consolidated financial statements, the Company has accumulated deficits of and its current liabilities exceeded its current assets. These negative trends have been consistent over the last few years except for asset sales. These factors create uncertainty about the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable and to create operations that contribute capital from normal operations. If the Company cannot obtain adequate capital it could be forced to cease operations. In order to continue as a going concern, develop and generate revenues and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management's plans to obtain such resources for the Company include (1) raising additional capital through sales of common stock, (2) converting promissory notes into common stock and (3) entering into acquisition agreements with profitable entities with significant operations. In addition, management is continually seeking to streamline its operations and expand the business through a variety of industries, including real estate and financial management. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Notes
Note 7 - Commitments and Contingencies	NOTE 7 - COMMITMENTS AND CONTINGENCIES (a) Lease Commitments The Company leases its office space in Ha-Nam City in Korea which expires on December 31, 2016. The minimum obligations under such commitments for the period ending September 30, 2016 through December 31, 2018 are listed on the table below. For the Year Amount Ending 2016 $55,207 2017 101,249 2018 and beyond 0 Total Commitment $156,456

Note 8 - Inventories

Note 8 - Inventories	9 Months Ended
	Sep. 30, 2016
Notes
Note 8 - Inventories	NOTE 8 – INVENTORIES Inventories consist of the following: 30-Sep-16 31-Dec-15 US$ US$ Raw material $0 $0 Work in process 869,213 496,971 Finished goods 0 0 $869,213 $496,971

Note 9 - Property and Equipment

Note 9 - Property and Equipment	9 Months Ended
	Sep. 30, 2016
Notes
Note 9 - Property and Equipment	NOTE 9 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following: 30-Sep-16 31-Dec-15 Vehicles $146,268 $146,268 Tools 95,771 95,771 Office 109,447 109,447 Facility equipment 247,438 210,502 Total property and equipment 598,924 561,988 Accumulated depreciation (465,273) (398,987) Property and equipment, net $133,651 $163,001 Depreciation expense for the nine months ended September 30, 2016 and 2015 amounted to $66,286 and $158,327, respectively.

Note 10 - Investments

Note 10 - Investments	9 Months Ended
	Sep. 30, 2016
Notes
Note 10 - Investments	NOTE 10 - INVESTMENTS During 2012, the Company invested in a housing project in the Republic of the Congo which would use our E-Box power storage device. $270,000 had been invested. Their interest has been recorded using the cost investment of accounting for investments. During the year ended December 31, 2014, the completion of this project has come into question. Due to this and other factors the Company has impaired the investments in full with a charge off of $762,000.

Note 11 - Income Taxes

Note 11 - Income Taxes	9 Months Ended
	Sep. 30, 2016
Notes
Note 11 - Income Taxes	NOTE 11 - INCOME TAXES The Company has experienced losses during most years since its inception. As a result, it has incurred no Federal income tax. The Internal Revenue Code allows net operating losses (NOL's) to be carried forward and applied against future profits for a period of twenty years; an NOL of $27,937,553 had accumulated at September 30, 2016 on U.S. operations and has been carried forward. The potential tax benefit of the NOL's has been recognized on the books of the Company, and is offset by a valuation allowance. Under current accounting guidance, recognition of deferred tax assets is permitted unless it is more likely than not that the assets will not be realized. The Company has recorded deferred tax assets using statutory rates, as presented below. The valuation reserve increased by $799,783 during the quarter ended September 30, 2016. Loss 12/31/15 (25,404,609) Current (2,532,944) NOL (27,937,553) The effective tax rate is as follows: Statutory Federal Rate 34% Effect of Valuation Allowance (34)% Effective Rate 0

Note 12 - Short Term Borrowings

Note 12 - Short Term Borrowings and Notes Payable	9 Months Ended
	Sep. 30, 2016
Notes
Note 12 - Short Term Borrowings and Notes Payable	NOTE 12 - SHORT TERM BORROWINGS AND NOTES PAYABLE The Company continues to fund itself through borrowing and equity sales until sales return to historical levels. As of September 30, 2016, the major components of our notes and borrowings consisted of the following: 9/30/16 12/31/15 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 3.65% interest only payable monthly and securred by the company. $0 $45,505 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 6.24% interest only payable monthly. 0 75,775 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 3.28% interest only payable monthly and securred by the company 0 85,245 Bank loan four year note extended with 12 month with extension fully amortizing with a variable interest rate currently at 3.83% payable monthly. 0 35,718 Equity Line of credit agreement with a 12 month term dated May 27, 2016 May 27, 2016 with minimum draw downs of $25,000 and convertible into company common stock. 240,214 0 Equity Line of credit agreement with a 12 month term dated May 27, 2016 with minimum draw downs of $25,000 and convertible into company common stock. 90,990 46,800 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 7.25% interest only payable monthly. 54,570 34,000 Total Liabilities 385,774 323,043 Less current portion 145,560 49,397 Long term debt $240,214 $273,646

Note 13 - Intangible Assets

Note 13 - Intangible Assets	9 Months Ended
	Sep. 30, 2016
Notes
Note 13 - Intangible Assets	NOTE 13 - INTANGIBLE ASSETS The Company accounts for its long-lived assets in accordance with Accounting Standards Codification ("ASC") Topic 360-10-05, "Accounting for the Impairment or Disposal of Long-Lived Assets." ASC Topic 360-10-05 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the carrying value of an asset by estimating the future net cash flows expected to result from the asset, including eventual disposition. If the future net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the asset's carrying value and fair value or disposable value. The Company increased goodwill as a result of its first quarter acquisitions by $612,445 and also determined that none of its long-term assets at September 30, 2016 and December 31, 2015 were impaired. 30-Sep-16 31-Dec-15 Patents $88,226 $63,554 Trademarks 277 277 Goodwill 3,717,931 3,057,003 Intangible assets 3,806,434 3,120,834 Less impairments 0 0 Intangible assets, net $3,806,434 $3,120,834

Note 14 - Segment Information

Note 14 - Segment Information	9 Months Ended
	Sep. 30, 2016
Notes
Note 14 - Segment Information	NOTE 14 - SEGMENT INFORMATION ASC Topic 280 requires use of the "management approach" model for segment reporting. The management approach model is based on the way a company's management organizes segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. During the nine months ended September 30, 2016 and 2015, the Company operated in one reportable business segment: the sale and manufacture of specialized electric vehicle. The Company's reportable segment is a strategic business unit that offers its product.

Note 15 - Acquisitions

Note 15 - Acquisitions	9 Months Ended
	Sep. 30, 2016
Notes
Note 15 - Acquisitions	NOTE 15 - ACQUISITIONS On March 29, 2015, the Company acquired a 50% interest in each of Leo Motors Factory 1 and 2 which are auto repair shops that specialize in repairing hand-made luxury cars such as Ferrari, Lamborghini, Bentley, Porsche, and Rolls Royce. The Company also acquired a 50% interest in Leo Trade specializing in trading luxury cars. The consolidation of these acquisitions is presented below. Leo Motors consolidation LEO Motors LEO Motors LGM LEO Motors LEO Motors LEO Trade ELIM Consolidated March 31, 2015 US Korea Factory 1 Factory 2 (f/k/a/ Erum) ENTRIES Statements All numbers shown in US Dollars DR(CR) 3/31/2015 ASSETS Cash and cash equivalents $374 67853 211,957 91,187 2914 92173 0 466,458 Accounts receivable 0 0 476,777 8,754 48,425 418,422 0 952,378 Inventories 0 0 295,159 0 0 0 0 295,159 Prepayment to suppliers 0 137,236 160,484 0 0 0 0 297,720 Other current assets 0 7,297 57,403 1,595 125,212 36,685 0 228,192 Total Current Assets 374 212,386 1,201,780 101,536 176,551 547,280 2,239,907 Fixed assets, net 6,744 10,530 16,846 63,683 88,181 0 0 185,984 Deposit 0 46,234 22,637 4,804 145,196 9,025 0 227,896 Intangible assets 0 63,831 0 0 0 0 0 63,831 Goodwill 0 0 0 0 0 0 3,057,003 3,057,003 Investment in subsidiaries 8,089,368 0 0 0 0 0 -8,089,368 0 Total Non-Current Assets 8,096,112 120,595 39,483 68,487 233,377 9,025 3,534,714 Total Assets $8,096,486 332,981 1,241,263 170,023 409,928 556,305 -5,032,365 5,774,621 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued expenses $1,139,889 1,060,342 291,900 97,840 307,112 416,183 0 3,313,266 Short term borrowings 0 256,392 183,245 32,052 0 0 0 471,689 Advance from customers 0 30,381 9,141 0 4,513 0 0 44,035 Due to related parties 0 116,617 0 0 0 0 0 116,617 Taxes payable 0 137,780 10,673 13,559 78,783 226 0 241,021 Notes Payable current portion 0 0 0 0 0 353,747 0 353,747 Total Current Liabilities 1,139,889 1,601,512 494,959 143,451 390,408 770,156 4,540,375 Long Term Notes 0 36,698 117,075 0 173,928 0 0 327,701 Accrued severance benefits 0 2,075 0 0 0 0 0 2,075 Total Liabilities 1,139,889 1,640,285 612,034 143,451 564,336 770,156 4,870,151 Stockholders' Equity: Common stock 154,144 2,831,276 284,870 90,253 135,379 180,505 (3,522,283 154,144 Additional paid-in capital 21,253,084 1,831,184 1,285,902 0 0 0 (4,973,230 19,396,940 Accumulated other comprehensive income 277,678 225,403 4,893 0 0 0 0 507,974 Accumulated loss (14,728,309 (6,195,167 (946,436 (63,681 (289,787 (394,356 733,773 (21,883,963 Total Stockholders' Deficit attributable to LEO MOTORS, INC. 6,956,597 (1,307,304 629,229 26,572 (154,408 (213,851 (1,824,905 Non-controlling interest 0 0 0 0 0 0 2,729,375 2,729,375 Total Stockholders' Deficit 6,956,597 (1,307,304 629,229 26,572 (154,408 (213,851 904,470 Total Liabilities and Stockholders' Deficit $8,096,486 332,981 1,241,263 170,023 409,928 556,305 (5,032,365 5,774,621 On June 3, 2016, the Company acquired a 50% interest in Lelcon Co., LTD. The Company develops car diagnostic and controlling device. The Company is based in South Korea. As of June 3, 2016, Lelcon Co., Ltd. operates as a subsidiary of Leo Motors, Inc. Leo Motors LELC Pro Forma Pro Forma 3/31/2016 3/31/2016 AJE Consolidated Assets Current Assets Cash and cash equivalents $130,874 998 $131,872 Accounts Receivable 1,015,447 14,031 1,029,478 Inventories 838,785 37,879 876,664 Prepayment to suppliers 382,545 0 382,545 Stockholder loans 0 129,066 129,066 Other current assets 199,073 2,905 201,978 Total Current Assets 2,566,724 184,879 2,751,603 Fixed assets, net 142,137 33,242 175,379 Deposit 346,255 0 346,255 Other non-current assets 87,275 1,228 88,503 Investments 500,000 0 (500,000 0 Goodwill 3,057,003 0 470,559 3,527,562 Total Assets $6,699,394 $219,349 $6,889,302 Liabilities and Equity(Deficit) Current Liabilities: Accounts payable and accrued expenses $3,748,487 $50,193 $3,798,680 Current portion notes payable 264,158 85,034 349,192 Advance from customers 496,385 0 496,385 Due to related parties 136,887 0 136,887 Taxes payable 155,151 4,429 159,580 Total Current Liabilities 4,801,068 139,656 4,940,724 Accrued retirement benefits 96,518 0 96,518 Other long term liabilities 196,579 0 196,579 Long term debt net of current portion 95,599 0 95,599 Total Liabilities 5,189,764 139,656 5,329,420 Commitments - - Leo Motors, Inc.("LEOM") Equity(Deficit): Common stock ($0.001 par value; 300,000,000 shares authorized); 163,198,512 shares issued and outstanding at March 31, 2016 164,614 169,348 (169,348 164,614 Additional paid-in capital 21,488,871 0 21,488,871 Accumulated other comprehensive income 1,329,240 1,805 1,331,045 Accumulated loss (25,827,119 (91,460 55,233 (25,863,346 Total Equity(Deficit) Leo Motors, Inc. (2,844,394 79,693 (2,878,816 Non-controlling interest 4,354,024 0 84,674 4,438,698 Total Equity(Deficit) 1,509,630 79,693 1,559,882 Total Liabilities and Equity(Deficit) $6,699,394 $219,349 0 $6,889,302 Leo Motors LELC Pro Forma Pro Forma 3/31/2016 3/31/2016 AJE Consolidated Revenues $745,706 $14,161 $759,867 Cost of Revenues 291,014 9,346 300,360 Gross Profit 454,692 4,815 459,507 Operating Expenses 908,860 40,422 949,282 Income(loss) from Continuing Operations (454,168 (35,607 (489,775 Other Income (Expenses) Assets disposal gain, net 0 0 0 Debt Forgiveness 0 0 0 Interest expense (9,328 (630 (9,958 Non-Operating (expense) income 5,330 10 5,340 Total Other Income (Expenses) (3,998 (620 (4,618 Income(loss) from Continuing Operations Before Income Taxes (458,166 (36,227 (494,393 Income Tax Expense 0 0 0 Net Income (Loss) $(458,166 $(36,227 $(494,393 Income(loss) attributable to non-controlling interest $(35,655 $0 $(35,655 Net Income (Loss) Attributable To Leo Motors, Inc. $(422,511 $(36,227 $(458,738 Other Comprehensive Income: Net Income (Loss) $(422,511 $(36,227 $(458,738 Unrealized foreign currency translation gain 78,120 1,921 80,041 Comprehensive Income(loss) Attributable to Leo Motors, Inc. $(344,391 $(34,306 $0 $(378,697 Net Loss per Common Share: Basic $(0.00 $(0.00 Diluted $(0.00 $(0.00 Weighted Average Common Shares Outstanding: Basic $163,198,512 $164,613,340 Diluted $163,198,512 $164,613,340

Note 2 - Policies (Policies)

Note 2 - Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Policies
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation These financial statements and related notes are expressed in US dollars. The Company's fiscal year-end is December 31. The consolidated financial statements include the financial statements of the Leo Motors Co. Ltd. Korea and LGM Co. LTD where the Parent Company has significant control. All inter-company transactions and balances have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments For certain of the Company's financial instruments, including cash and cash equivalents, accounts receivable inventory and prepaid expenses, accounts payable and deferred revenues, the carrying amounts approximate fair value due to their short maturities.
Revenue Recognition	Revenue Recognition The Company follows the guidance of the Securities and Exchange Commission's Staff Accounting Bulletin No. 104, "Revenue Recognition in Financial Statements". In general, the Company records revenue when persuasive evidence of an arrangement exists, services have been rendered or product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. The following policies reflect specific criteria for the various revenues streams of the Company. The Company generates revenue from the delivery of goods and records revenues when the sales are completed, already collected or collectability is reasonably assured, there is no future obligation and there is remote chance of future claim or refund to the customers. Revenue is recognized when risk of ownership and title pass to the buyer, generally upon the delivery of professional services. Pricing is fixed and determinable according to the Company's published brochures and price lists.
Accounts Receivables	Accounts Receivables Accounts receivables of the Company are reviewed to determine if their carrying value has become impaired. The Company considers the assets to be impaired if the balances are greater than one-year old. Management regularly reviews accounts receivable and will establish an allowance for potentially uncollectible amounts when appropriate. When accounts are written off, they will be charged against the allowance. Receivables are not collateralized and do not bear interest.
Cash Equivalents	Cash Equivalents For purposes of reporting cash flows, the Company considers all short-term investments with an original maturity of three months or less to be cash equivalent.
Fixed Assets	Fixed Assets Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which is generally 3 to 10 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in other income (expense). The Company will periodically evaluate whether events and circumstances have occurred that may warrant revision of the estimated useful lives of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. We use an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability.
Intangible and Long Lived Assets	Intangible and Long Lived Assets The Company follows ASC 360-10, "Property, Plant, and Equipment,"
Income Taxes	Income Taxes The Company uses the asset and liability method of accounting for income taxes in accordance with ASC 740-10, "Accounting for Income Taxes." Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year; and, (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if, based on the weight of available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken or expected to be taken on a tax return. Under ASC 740-10, a tax benefit from an uncertain tax position taken or expected to be taken may be recognized only if it is "more likely than not" that the position is sustainable upon examination, based on its technical merits. The tax benefit of a qualifying position under ASC 740-10 would equal the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority having full knowledge of all the relevant information. A liability (including interest and penalties, if applicable) is established to the extent a current benefit has been recognized on a tax return for matters that are considered contingent upon the outcome of an uncertain tax position. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable.
Loss Per Share	Loss per Share Basic earnings (loss) per share is computed by dividing net income, or loss, by the weighted average number of shares of common stock outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income, or loss, by the weighted average number of shares of both common and preferred stock outstanding for the period.
Stock-based Compensation	Stock-Based Compensation SFAS No. 123, "Accounting for Stock-Based Compensation," establishes and encourages the use of the fair value based method of accounting for stock-based compensation arrangements under which compensation cost is determined using the fair value of stock-based compensation determined as of the date of grant and is recognized over the periods in which the related services are rendered. For stock based compensation the Company recognizes an expense in accordance with SFAS No. 123 and values the equity securities based on the fair value of the security on the date of grant. Stock option awards are valued using the Black-Scholes option-pricing model.
Foreign Currency Translation and Comprehensive Income	Foreign Currency Translation and Comprehensive Income The reporting currency of the Company is the US$. The functional currency of the parent company is the US$ and the functional currency of the Company's operating subsidiary is Korean Won ("KRW"). The subsidiary's results of operations and cash flows are translated at average exchange rates during the year, assets and liabilities are translated at the unified exchange rate at the end of the year, and equity is translated at historical exchange rates. Translation adjustments resulting from the process of translating the functional currency financial statements into US$ are included in determining comprehensive income. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. The Company does not enter any material transaction in foreign currencies and accordingly, transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company's financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company's financials properly reflect the change. The Company currently does not have any recent accounting pronouncements that they are studying and feel may be applicable.

Note 3 - Earnings Per Share_ Sc

Note 3 - Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation of the computation for basic and diluted EPS for the six months ended September 30, 2016 and 2015: For the periods ended 9/30/2016 9/30/2015 Net Income (Loss) $(2,746,687) $(2,106,478) Weighted-average common stock Outstanding - basic 162,853,353 154,950,420 Equivalents Stock options - 0 Warrants - 0 Convertible Notes 0 0 Weighted-average common shares outstanding- Diluted 162,853,353 154,950,420

Note 7 - Commitments and Cont23

Note 7 - Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Future Minimum Rental Payments for Operating Leases	The Company leases its office space in Ha-Nam City in Korea which expires on December 31, 2016. The minimum obligations under such commitments for the period ending September 30, 2016 through December 31, 2018 are listed on the table below. For the Year Amount Ending 2016 $55,207 2017 101,249 2018 and beyond 0 Total Commitment $156,456

Note 8 - Inventories_ Schedule

Note 8 - Inventories: Schedule of Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Inventories	Inventories consist of the following: 30-Sep-16 31-Dec-15 US$ US$ Raw material $0 $0 Work in process 869,213 496,971 Finished goods 0 0 $869,213 $496,971

Note 9 - Property and Equipme25

Note 9 - Property and Equipment: Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Property, Plant and Equipment	Property and equipment consisted of the following: 30-Sep-16 31-Dec-15 Vehicles $146,268 $146,268 Tools 95,771 95,771 Office 109,447 109,447 Facility equipment 247,438 210,502 Total property and equipment 598,924 561,988 Accumulated depreciation (465,273) (398,987) Property and equipment, net $133,651 $163,001

Note 11 - Income Taxes_ Schedul

Note 11 - Income Taxes: Schedule of Deferred Tax Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Deferred Tax Assets	Loss 12/31/15 (25,404,609) Current (2,532,944) NOL (27,937,553)

Note 11 - Income Taxes_ Sched27

Note 11 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	The effective tax rate is as follows: Statutory Federal Rate 34% Effect of Valuation Allowance (34)% Effective Rate 0

Note 12 - Short Term Borrowin28

Note 12 - Short Term Borrowings and Notes Payable: Schedule of Short-term Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Short-term Debt	As of September 30, 2016, the major components of our notes and borrowings consisted of the following: 9/30/16 12/31/15 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 3.65% interest only payable monthly and securred by the company. $0 $45,505 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 6.24% interest only payable monthly. 0 75,775 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 3.28% interest only payable monthly and securred by the company 0 85,245 Bank loan four year note extended with 12 month with extension fully amortizing with a variable interest rate currently at 3.83% payable monthly. 0 35,718 Equity Line of credit agreement with a 12 month term dated May 27, 2016 May 27, 2016 with minimum draw downs of $25,000 and convertible into company common stock. 240,214 0 Equity Line of credit agreement with a 12 month term dated May 27, 2016 with minimum draw downs of $25,000 and convertible into company common stock. 90,990 46,800 Bank loan six month note extended with 12 month term renewable periods with a variable interest rate currently at 7.25% interest only payable monthly. 54,570 34,000 Total Liabilities 385,774 323,043 Less current portion 145,560 49,397 Long term debt $240,214 $273,646

Note 13 - Intangible Assets_ Sc

Note 13 - Intangible Assets: Schedule of Finite-Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Finite-Lived Intangible Assets	30-Sep-16 31-Dec-15 Patents $88,226 $63,554 Trademarks 277 277 Goodwill 3,717,931 3,057,003 Intangible assets 3,806,434 3,120,834 Less impairments 0 0 Intangible assets, net $3,806,434 $3,120,834

Note 15 - Acquisitions_ Schedul

Note 15 - Acquisitions: Schedule of Consolidated Statements of Acquired Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Consolidated Statements of Acquired Entities	The consolidation of these acquisitions is presented below. Leo Motors consolidation LEO Motors LEO Motors LGM LEO Motors LEO Motors LEO Trade ELIM Consolidated March 31, 2015 US Korea Factory 1 Factory 2 (f/k/a/ Erum) ENTRIES Statements All numbers shown in US Dollars DR(CR) 3/31/2015 ASSETS Cash and cash equivalents $374 67853 211,957 91,187 2914 92173 0 466,458 Accounts receivable 0 0 476,777 8,754 48,425 418,422 0 952,378 Inventories 0 0 295,159 0 0 0 0 295,159 Prepayment to suppliers 0 137,236 160,484 0 0 0 0 297,720 Other current assets 0 7,297 57,403 1,595 125,212 36,685 0 228,192 Total Current Assets 374 212,386 1,201,780 101,536 176,551 547,280 2,239,907 Fixed assets, net 6,744 10,530 16,846 63,683 88,181 0 0 185,984 Deposit 0 46,234 22,637 4,804 145,196 9,025 0 227,896 Intangible assets 0 63,831 0 0 0 0 0 63,831 Goodwill 0 0 0 0 0 0 3,057,003 3,057,003 Investment in subsidiaries 8,089,368 0 0 0 0 0 -8,089,368 0 Total Non-Current Assets 8,096,112 120,595 39,483 68,487 233,377 9,025 3,534,714 Total Assets $8,096,486 332,981 1,241,263 170,023 409,928 556,305 -5,032,365 5,774,621 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued expenses $1,139,889 1,060,342 291,900 97,840 307,112 416,183 0 3,313,266 Short term borrowings 0 256,392 183,245 32,052 0 0 0 471,689 Advance from customers 0 30,381 9,141 0 4,513 0 0 44,035 Due to related parties 0 116,617 0 0 0 0 0 116,617 Taxes payable 0 137,780 10,673 13,559 78,783 226 0 241,021 Notes Payable current portion 0 0 0 0 0 353,747 0 353,747 Total Current Liabilities 1,139,889 1,601,512 494,959 143,451 390,408 770,156 4,540,375 Long Term Notes 0 36,698 117,075 0 173,928 0 0 327,701 Accrued severance benefits 0 2,075 0 0 0 0 0 2,075 Total Liabilities 1,139,889 1,640,285 612,034 143,451 564,336 770,156 4,870,151 Stockholders' Equity: Common stock 154,144 2,831,276 284,870 90,253 135,379 180,505 (3,522,283 154,144 Additional paid-in capital 21,253,084 1,831,184 1,285,902 0 0 0 (4,973,230 19,396,940 Accumulated other comprehensive income 277,678 225,403 4,893 0 0 0 0 507,974 Accumulated loss (14,728,309 (6,195,167 (946,436 (63,681 (289,787 (394,356 733,773 (21,883,963 Total Stockholders' Deficit attributable to LEO MOTORS, INC. 6,956,597 (1,307,304 629,229 26,572 (154,408 (213,851 (1,824,905 Non-controlling interest 0 0 0 0 0 0 2,729,375 2,729,375 Total Stockholders' Deficit 6,956,597 (1,307,304 629,229 26,572 (154,408 (213,851 904,470 Total Liabilities and Stockholders' Deficit $8,096,486 332,981 1,241,263 170,023 409,928 556,305 (5,032,365 5,774,621 On June 3, 2016, the Company acquired a 50% interest in Lelcon Co., LTD. The Company develops car diagnostic and controlling device. The Company is based in South Korea. As of June 3, 2016, Lelcon Co., Ltd. operates as a subsidiary of Leo Motors, Inc. Leo Motors LELC Pro Forma Pro Forma 3/31/2016 3/31/2016 AJE Consolidated Assets Current Assets Cash and cash equivalents $130,874 998 $131,872 Accounts Receivable 1,015,447 14,031 1,029,478 Inventories 838,785 37,879 876,664 Prepayment to suppliers 382,545 0 382,545 Stockholder loans 0 129,066 129,066 Other current assets 199,073 2,905 201,978 Total Current Assets 2,566,724 184,879 2,751,603 Fixed assets, net 142,137 33,242 175,379 Deposit 346,255 0 346,255 Other non-current assets 87,275 1,228 88,503 Investments 500,000 0 (500,000 0 Goodwill 3,057,003 0 470,559 3,527,562 Total Assets $6,699,394 $219,349 $6,889,302 Liabilities and Equity(Deficit) Current Liabilities: Accounts payable and accrued expenses $3,748,487 $50,193 $3,798,680 Current portion notes payable 264,158 85,034 349,192 Advance from customers 496,385 0 496,385 Due to related parties 136,887 0 136,887 Taxes payable 155,151 4,429 159,580 Total Current Liabilities 4,801,068 139,656 4,940,724 Accrued retirement benefits 96,518 0 96,518 Other long term liabilities 196,579 0 196,579 Long term debt net of current portion 95,599 0 95,599 Total Liabilities 5,189,764 139,656 5,329,420 Commitments - - Leo Motors, Inc.("LEOM") Equity(Deficit): Common stock ($0.001 par value; 300,000,000 shares authorized); 163,198,512 shares issued and outstanding at March 31, 2016 164,614 169,348 (169,348 164,614 Additional paid-in capital 21,488,871 0 21,488,871 Accumulated other comprehensive income 1,329,240 1,805 1,331,045 Accumulated loss (25,827,119 (91,460 55,233 (25,863,346 Total Equity(Deficit) Leo Motors, Inc. (2,844,394 79,693 (2,878,816 Non-controlling interest 4,354,024 0 84,674 4,438,698 Total Equity(Deficit) 1,509,630 79,693 1,559,882 Total Liabilities and Equity(Deficit) $6,699,394 $219,349 0 $6,889,302 Leo Motors LELC Pro Forma Pro Forma 3/31/2016 3/31/2016 AJE Consolidated Revenues $745,706 $14,161 $759,867 Cost of Revenues 291,014 9,346 300,360 Gross Profit 454,692 4,815 459,507 Operating Expenses 908,860 40,422 949,282 Income(loss) from Continuing Operations (454,168 (35,607 (489,775 Other Income (Expenses) Assets disposal gain, net 0 0 0 Debt Forgiveness 0 0 0 Interest expense (9,328 (630 (9,958 Non-Operating (expense) income 5,330 10 5,340 Total Other Income (Expenses) (3,998 (620 (4,618 Income(loss) from Continuing Operations Before Income Taxes (458,166 (36,227 (494,393 Income Tax Expense 0 0 0 Net Income (Loss) $(458,166 $(36,227 $(494,393 Income(loss) attributable to non-controlling interest $(35,655 $0 $(35,655 Net Income (Loss) Attributable To Leo Motors, Inc. $(422,511 $(36,227 $(458,738 Other Comprehensive Income: Net Income (Loss) $(422,511 $(36,227 $(458,738 Unrealized foreign currency translation gain 78,120 1,921 80,041 Comprehensive Income(loss) Attributable to Leo Motors, Inc. $(344,391 $(34,306 $0 $(378,697 Net Loss per Common Share: Basic $(0.00 $(0.00 Diluted $(0.00 $(0.00 Weighted Average Common Shares Outstanding: Basic $163,198,512 $164,613,340 Diluted $163,198,512 $164,613,340

Note 1 - Company Background (De

Note 1 - Company Background (Details) - shares	3 Months Ended	9 Months Ended
	Mar. 31, 2010	Sep. 30, 2016	Dec. 31, 2011
Common Stock
Conversion of Stock, Shares Issued		47,352,450
PDI | Housing Project In The Republic Of The Congo
Long Term Investment Percentage Of Investment Owned		10.00%
Leo BT Corp
Noncash or Part Noncash Acquisition, Interest Acquired	50.00%
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued	7,000,000
Equity Method Investment, Ownership Percentage			30.00%
LGM Co. Ltd
Conversion of Stock, Shares Converted		813,747
Leo Motors Factory 1
Noncash or Part Noncash Acquisition, Interest Acquired		50.00%
Leo Trade
Noncash or Part Noncash Acquisition, Interest Acquired		50.00%
Lelcon Co., LTD
Noncash or Part Noncash Acquisition, Interest Acquired		50.00%

Note 3 - Earnings Per Share_ 32

Note 3 - Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Details
Net Income (Loss)	$ (1,419,143)	$ (412,489)	$ (2,746,687)	$ (2,106,478)	$ (2,106,478)
Weighted-average common stock Outstanding - basic	163,919,011	158,163,934	162,853,353	154,950,420	154,950,420
Stock options			0		0
Warrants			0		0
Convertible Notes			0		0
Weighted-average common shares outstanding - Diluted	163,919,011	158,163,934	162,853,353	154,950,420

Note 4 - Due To Related Party (

Note 4 - Due To Related Party (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Mar. 31, 2015
Due to related parties	$ 108,000	$ 140,396	$ 116,617
Officer
Due to related parties	$ 108,000	$ 140,396

Note 5 - Payments Received in34

Note 5 - Payments Received in Advance (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Mar. 31, 2015
Details
Prepayment to suppliers	$ 625,370	$ 279,229	$ 297,720

Note 7 - Commitments and Cont35

Note 7 - Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Details)	Sep. 30, 2016USD ($)
Details
2,016	$ 55,207
2,017	101,249
2018 and beyond	0
Total Commitment	$ 156,456

Note 8 - Inventories_ Schedul36

Note 8 - Inventories: Schedule of Inventories (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Mar. 31, 2015
Details
Raw material	$ 0	$ 0
Work in process	869,213	496,971
Finished goods	0	0
Inventories	$ 869,213	$ 496,971	$ 295,159

Note 9 - Property and Equipme37

Note 9 - Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Mar. 31, 2015
Total property and equipment	$ 598,924	$ 561,988
Accumulated depreciation	(465,273)	(398,987)
Property and equipment, net	133,651	163,001	$ 185,984
Tools
Total property and equipment	95,771	95,771
Office
Total property and equipment	109,447	109,447
Facility Equipment
Total property and equipment	247,438	210,502
Vehicles
Total property and equipment	$ 146,268	$ 146,268

Note 9 - Property and Equipme38

Note 9 - Property and Equipment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Details
Depreciation	$ 66,286	$ 158,327

Note 10 - Investments (Details)

Note 10 - Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2012
Other than Temporary Impairment Losses, Investments	$ 762,000
Housing Project In The Republic Of The Congo | PDI
Long-term Investments		$ 270,000

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Details
Operating Loss Carryforwards	$ 27,937,553
Valuation reserve increase	$ 799,783

Note 11 - Income Taxes_ Sched41

Note 11 - Income Taxes: Schedule of Deferred Tax Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Details
Loss 12/31/15			$ 25,404,609
Net Income(Loss)	$ (1,292,290)	$ (357,472)	(2,532,944)	$ (1,956,056)
NOL	$ 27,937,553		$ 27,937,553

Note 11 - Income Taxes_ Sched42

Note 11 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details)	9 Months Ended
	Sep. 30, 2016
Details
Statutory Federal Rate	34.00%
Effect of Valuation Allowance	(34.00%)
Effective Rate	0.00%

Note 12 - Short Term Borrowin43

Note 12 - Short Term Borrowings and Notes Payable: Schedule of Short-term Debt (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Mar. 31, 2015
Notes Payable	$ 385,774		$ 323,043
Notes Payable current portion	145,560	$ 145,560	49,397	$ 353,747
Notes payable long term	$ 240,214		273,646	$ 327,701
Note 3
Debt Instrument, Interest Rate, Stated Percentage	3.65%
Notes Payable to Bank	$ 0		45,505
Note 4
Debt Instrument, Interest Rate, Stated Percentage	6.24%
Notes Payable to Bank	$ 0		75,775
Note 6
Debt Instrument, Interest Rate, Stated Percentage	3.28%
Notes Payable to Bank	$ 0		85,245
Note 7
Debt Instrument, Interest Rate, Stated Percentage	3.83%
Notes Payable to Bank	$ 0		35,718
Note 9
Notes Payable to Bank	240,214		0
Line of Credit Facility, Current Borrowing Capacity	25,000
Note10
Notes Payable to Bank	90,990		46,800
Line of Credit Facility, Current Borrowing Capacity	$ 25,000
Note 8
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Notes Payable to Bank	$ 54,570		$ 34,000

Note 13 - Intangible Assets_ 44

Note 13 - Intangible Assets: Schedule of Finite-Lived Intangible Assets (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Details
Patents	$ 88,226	$ 63,554
Trademarks	277	277
Goodwill	3,717,931	3,057,003
Intangible assets	3,806,434	3,120,834
Less: impairments	0	0
Intangible assets, net	$ 3,806,434	$ 3,120,834

Note 15 - Acquisitions (Details

Note 15 - Acquisitions (Details)	9 Months Ended
	Sep. 30, 2016
Leo Motors Factory 1
Noncash or Part Noncash Acquisition, Interest Acquired	50.00%
Leo Trade
Noncash or Part Noncash Acquisition, Interest Acquired	50.00%

Note 15 - Acquisitions_ Sched46

Note 15 - Acquisitions: Schedule of Consolidated Statements of Acquired Entities (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jun. 30, 2016	Mar. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 1,497,771	$ 192,845	$ 1,497,771	$ 192,845	$ 243,809		$ 466,458	$ 217,178
Accounts receivable	978,069		978,069		1,565,114		952,378
Inventories	869,213		869,213		496,971		295,159
Prepayment to suppliers	625,370		625,370		279,229		297,720
Other current assets	22,210		22,210		32,107		228,192
Total Current Assets	3,992,633		3,992,633		2,617,230		2,239,907
Fixed assets, net	133,651		133,651		163,001		185,984
Deposit	346,255		346,255		346,659		227,896
Intangible assets	88,503		88,503		63,831		63,831
Goodwill	3,717,931		3,717,931		3,057,003		3,057,003
Investments in Subsidiaries							0
Total Non-Current Assets							3,534,714
Total Assets	8,278,973		8,278,973		6,247,724		5,774,621
Current Liabilities:
Accounts payable and accrued expenses	4,882,656		4,882,656		4,082,198		3,313,266
Short term borrowings	0		0		7,661		471,689
Advance from customers	757,617		757,617		795,431		44,035
Due to related parties	108,000		108,000		140,396		116,617
Taxes payable	59,458		59,458		99,584		241,021
Notes Payable current portion	145,560		145,560		49,397	$ 145,560	353,747
Total Current Liabilities	5,953,291		5,953,291		5,174,667		4,540,375
Long Term Notes	240,214		240,214		273,646		327,701
Accrued severance benefits	160,878		160,878		92,948		2,075
Total Liabilities	6,480,744		6,480,744		5,671,009		4,870,151
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock	164,124		164,124		158,949		154,144
Additional paid-in capital	21,052,333		21,052,333		20,367,272		19,396,940
Accumulated other comprehensive income	1,280,985		1,280,985		1,251,120		507,974
Accumulated loss	(27,953,301)		(27,953,301)		(25,404,609)		(21,883,963)
Total Equity(Deficit) Leo Motors, Inc.	(5,455,859)		(5,455,859)		(3,627,268)		(1,824,905)
Non-controlling interest	7,254,088		7,254,088		4,203,983		2,729,375
Total Equity(Deficit)	1,798,229		1,798,229		576,715		904,470
Total Liabilities and Equity(Deficit)	8,278,973		8,278,973		6,247,724		5,774,621
Current Assets
Investments							0
Other long term liabilities	126,361		126,361		129,748
Commitments (Note 8)
Revenues	792,037	922,326	2,344,199	2,331,294
Cost of Revenues	503,484	414,240	1,484,572	1,027,969
Gross Profit	288,553	508,086	859,627	1,303,325
Operating Expenses	1,759,520	956,180	3,676,871	3,138,024
Income(loss) from Continuing Operations	(1,470,967)	(448,094)	(2,817,244)	(1,834,699)
Other Income (Expenses)
Interest expense	(7,817)	(3,031)	(25,581)	(313,332)
Non-Operating (expense) income	60,100	38,636	96,597	41,553
Total Other Income (Expenses)	52,283	35,605	71,016	(271,779)
Income(loss) from Continuing Operations Before Income Taxes	(1,418,684)	(412,489)	(2,746,228)	(2,106,478)
Income Tax Expense	459	0	459	0
Net Income (Loss)	(1,419,143)	(412,489)	(2,746,687)	(2,106,478)	$ (2,106,478)
Income(loss) attributable to non-controlling interest	(126,853)	(55,017)	(213,743)	(150,422)
Net Income(Loss)	(1,292,290)	(357,472)	(2,532,944)	(1,956,056)
Other Comprehensive Income:
Unrealized foreign currency translation gain	(205,495)	29,447	(29,865)	286,611
Comprehensive Income(loss) Attributable to Leo Motors, Inc.	$ (1,624,638)	$ (383,042)	$ (2,776,552)	$ (1,819,867)
Net Loss per Common Share:
Basic	$ (0.01)	$ 0	$ (0.02)	$ (0.01)
Diluted	$ (0.01)	$ 0	$ (0.02)	$ (0.01)
Weighted Average Common Shares Outstanding:
Diluted	163,919,011	158,163,934	162,853,353	154,950,420
Scenario, Adjustment
Assets
Cash and cash equivalents							0
Accounts receivable							0
Inventories							0
Prepayment to suppliers							0
Other current assets							0
Fixed assets, net							0
Deposit							0
Intangible assets							0
Goodwill	$ 470,559		$ 470,559				3,057,003
Investments in Subsidiaries	(500,000)		(500,000)				(8,089,368)
Total Assets							(5,032,365)
Current Liabilities:
Accounts payable and accrued expenses							0
Short term borrowings							0
Advance from customers							0
Due to related parties							0
Taxes payable							0
Notes Payable current portion							0
Long Term Notes							0
Accrued severance benefits							0
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock	(169,348)		(169,348)				(3,522,283)
Additional paid-in capital							(4,973,230)
Accumulated other comprehensive income							0
Accumulated loss	55,233		55,233				733,773
Non-controlling interest	84,674		84,674				2,729,375
Total Liabilities and Equity(Deficit)	0		0				(5,032,365)
Current Assets
Investments	(500,000)		(500,000)				(8,089,368)
Other Comprehensive Income:
Comprehensive Income(loss) Attributable to Leo Motors, Inc.			0
Pro Forma
Assets
Cash and cash equivalents	131,872		131,872
Accounts receivable	1,029,478		1,029,478
Inventories	876,664		876,664
Prepayment to suppliers	382,545		382,545
Other current assets	201,978		201,978
Total Current Assets	2,751,603		2,751,603
Fixed assets, net	175,379		175,379
Deposit	346,255		346,255
Goodwill	3,527,562		3,527,562
Investments in Subsidiaries	0		0
Total Assets	6,889,302		6,889,302
Current Liabilities:
Accounts payable and accrued expenses	3,798,680		3,798,680
Advance from customers	496,385		496,385
Due to related parties	136,887		136,887
Taxes payable	159,580		159,580
Notes Payable current portion	349,192		349,192
Total Current Liabilities	4,940,724		4,940,724
Accrued severance benefits	96,518		96,518
Total Liabilities	5,329,420		5,329,420
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock	164,614		164,614
Additional paid-in capital	21,488,871		21,488,871
Accumulated other comprehensive income	1,331,045		1,331,045
Accumulated loss	(25,863,346)		(25,863,346)
Total Equity(Deficit) Leo Motors, Inc.	(2,878,816)		(2,878,816)
Non-controlling interest	4,438,698		4,438,698
Total Equity(Deficit)	1,559,882		1,559,882
Total Liabilities and Equity(Deficit)	6,889,302		6,889,302
Current Assets
Stockholder loans	129,066		129,066
Other Assets, Noncurrent	88,503		88,503
Investments	0		0
Other long term liabilities	196,579		196,579
Long-term Debt, Excluding Current Maturities	95,599		95,599
Revenues			759,867
Cost of Revenues			300,360
Gross Profit			459,507
Operating Expenses			949,282
Income(loss) from Continuing Operations			(489,775)
Other Income (Expenses)
Gain (Loss) on Disposition of Other Assets			0
Gains (Losses) on Extinguishment of Debt			0
Interest expense			(9,958)
Non-Operating (expense) income			5,340
Total Other Income (Expenses)			(4,618)
Income(loss) from Continuing Operations Before Income Taxes			(494,393)
Income Tax Expense			0
Net Income (Loss)			(494,393)
Income(loss) attributable to non-controlling interest			(35,655)
Net Income(Loss)			(458,738)
Other Comprehensive Income:
Unrealized foreign currency translation gain			80,041
Comprehensive Income(loss) Attributable to Leo Motors, Inc.			$ (378,697)
Net Loss per Common Share:
Basic			$ 0
Diluted			$ 0
Weighted Average Common Shares Outstanding:
Weighted Average Number of Shares Issued, Basic			164,613,340
Diluted			164,613,340
Leo Motors US
Assets
Cash and cash equivalents							374
Accounts receivable							0
Inventories							0
Prepayment to suppliers							0
Other current assets							0
Total Current Assets							374
Fixed assets, net							6,744
Deposit							0
Intangible assets							0
Goodwill							0
Investments in Subsidiaries							8,089,368
Total Non-Current Assets							8,096,112
Total Assets							8,096,486
Current Liabilities:
Accounts payable and accrued expenses							1,139,889
Short term borrowings							0
Advance from customers							0
Due to related parties							0
Taxes payable							0
Notes Payable current portion							0
Total Current Liabilities							1,139,889
Long Term Notes							0
Accrued severance benefits							0
Total Liabilities							1,139,889
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock							154,144
Additional paid-in capital							21,253,084
Accumulated other comprehensive income							277,678
Accumulated loss							(14,728,309)
Total Equity(Deficit) Leo Motors, Inc.							6,956,597
Non-controlling interest							0
Total Equity(Deficit)							6,956,597
Total Liabilities and Equity(Deficit)							8,096,486
Current Assets
Investments							8,089,368
Leo Motors Korea
Assets
Cash and cash equivalents							67,853
Accounts receivable							0
Inventories							0
Prepayment to suppliers							137,236
Other current assets							7,297
Total Current Assets							212,386
Fixed assets, net							10,530
Deposit							46,234
Intangible assets							63,831
Goodwill							0
Investments in Subsidiaries							0
Total Non-Current Assets							120,595
Total Assets							332,981
Current Liabilities:
Accounts payable and accrued expenses							1,060,342
Short term borrowings							256,392
Advance from customers							30,381
Due to related parties							116,617
Taxes payable							137,780
Notes Payable current portion							0
Total Current Liabilities							1,601,512
Long Term Notes							36,698
Accrued severance benefits							2,075
Total Liabilities							1,640,285
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock							2,831,276
Additional paid-in capital							1,831,184
Accumulated other comprehensive income							225,403
Accumulated loss							(6,195,167)
Total Equity(Deficit) Leo Motors, Inc.							(1,307,304)
Non-controlling interest							0
Total Equity(Deficit)							(1,307,304)
Total Liabilities and Equity(Deficit)							332,981
Current Assets
Investments							0
LGM Co. Ltd
Assets
Cash and cash equivalents							211,957
Accounts receivable							476,777
Inventories							295,159
Prepayment to suppliers							160,484
Other current assets							57,403
Total Current Assets							1,201,780
Fixed assets, net							16,846
Deposit							22,637
Intangible assets							0
Goodwill							0
Investments in Subsidiaries							0
Total Non-Current Assets							39,483
Total Assets							1,241,263
Current Liabilities:
Accounts payable and accrued expenses							291,900
Short term borrowings							183,245
Advance from customers							9,141
Due to related parties							0
Taxes payable							10,673
Notes Payable current portion							0
Total Current Liabilities							494,959
Long Term Notes							117,075
Accrued severance benefits							0
Total Liabilities							612,034
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock							284,870
Additional paid-in capital							1,285,902
Accumulated other comprehensive income							4,893
Accumulated loss							(946,436)
Total Equity(Deficit) Leo Motors, Inc.							629,229
Non-controlling interest							0
Total Equity(Deficit)							629,229
Total Liabilities and Equity(Deficit)							1,241,263
Current Assets
Investments							0
Leo Motors Factory 1
Assets
Cash and cash equivalents							91,187
Accounts receivable							8,754
Inventories							0
Prepayment to suppliers							0
Other current assets							1,595
Total Current Assets							101,536
Fixed assets, net							63,683
Deposit							4,804
Intangible assets							0
Goodwill							0
Investments in Subsidiaries							0
Total Non-Current Assets							68,487
Total Assets							170,023
Current Liabilities:
Accounts payable and accrued expenses							97,840
Short term borrowings							32,052
Advance from customers							0
Due to related parties							0
Taxes payable							13,559
Notes Payable current portion							0
Total Current Liabilities							143,451
Long Term Notes							0
Accrued severance benefits							0
Total Liabilities							143,451
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock							90,253
Additional paid-in capital							0
Accumulated other comprehensive income							0
Accumulated loss							(63,681)
Total Equity(Deficit) Leo Motors, Inc.							26,572
Non-controlling interest							0
Total Equity(Deficit)							26,572
Total Liabilities and Equity(Deficit)							170,023
Noncash or Part Noncash Acquisition, Interest Acquired			50.00%
Current Assets
Investments							0
Leo Motors Factory 2
Assets
Cash and cash equivalents							2,914
Accounts receivable							48,425
Inventories							0
Prepayment to suppliers							0
Other current assets							125,212
Total Current Assets							176,551
Fixed assets, net							88,181
Deposit							145,196
Intangible assets							0
Goodwill							0
Investments in Subsidiaries							0
Total Non-Current Assets							233,377
Total Assets							409,928
Current Liabilities:
Accounts payable and accrued expenses							307,112
Short term borrowings							0
Advance from customers							4,513
Due to related parties							0
Taxes payable							78,783
Notes Payable current portion							0
Total Current Liabilities							390,408
Long Term Notes							173,928
Accrued severance benefits							0
Total Liabilities							564,336
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock							135,379
Additional paid-in capital							0
Accumulated other comprehensive income							0
Accumulated loss							(289,787)
Total Equity(Deficit) Leo Motors, Inc.							(154,408)
Non-controlling interest							0
Total Equity(Deficit)							(154,408)
Total Liabilities and Equity(Deficit)							409,928
Current Assets
Investments							0
Leo Trade
Assets
Cash and cash equivalents							92,173
Accounts receivable							418,422
Inventories							0
Prepayment to suppliers							0
Other current assets							36,685
Total Current Assets							547,280
Fixed assets, net							0
Deposit							9,025
Intangible assets							0
Goodwill							0
Investments in Subsidiaries							0
Total Non-Current Assets							9,025
Total Assets							556,305
Current Liabilities:
Accounts payable and accrued expenses							416,183
Short term borrowings							0
Advance from customers							0
Due to related parties							0
Taxes payable							226
Notes Payable current portion							353,747
Total Current Liabilities							770,156
Long Term Notes							0
Accrued severance benefits							0
Total Liabilities							770,156
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock							180,505
Additional paid-in capital							0
Accumulated other comprehensive income							0
Accumulated loss							(394,356)
Total Equity(Deficit) Leo Motors, Inc.							(213,851)
Non-controlling interest							0
Total Equity(Deficit)							(213,851)
Total Liabilities and Equity(Deficit)							556,305
Noncash or Part Noncash Acquisition, Interest Acquired			50.00%
Current Assets
Investments							$ 0
Lelcon Co., LTD
Assets
Cash and cash equivalents	998		$ 998
Accounts receivable	14,031		14,031
Inventories	37,879		37,879
Prepayment to suppliers	0		0
Other current assets	2,905		2,905
Total Current Assets	184,879		184,879
Fixed assets, net	33,242		33,242
Deposit	0		0
Goodwill	0		0
Investments in Subsidiaries	0		0
Total Assets	219,349		219,349
Current Liabilities:
Accounts payable and accrued expenses	50,193		50,193
Advance from customers	0		0
Due to related parties	0		0
Taxes payable	4,429		4,429
Notes Payable current portion	85,034		85,034
Total Current Liabilities	139,656		139,656
Accrued severance benefits	0		0
Total Liabilities	139,656		139,656
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock	169,348		169,348
Additional paid-in capital	0		0
Accumulated other comprehensive income	1,805		1,805
Accumulated loss	(91,460)		(91,460)
Total Equity(Deficit) Leo Motors, Inc.	79,693		79,693
Non-controlling interest	0		0
Total Equity(Deficit)	79,693		79,693
Total Liabilities and Equity(Deficit)	219,349		$ 219,349
Noncash or Part Noncash Acquisition, Interest Acquired			50.00%
Current Assets
Stockholder loans	129,066		$ 129,066
Other Assets, Noncurrent	1,228		1,228
Investments	0		0
Other long term liabilities	0		0
Long-term Debt, Excluding Current Maturities	0		0
Commitments (Note 8)	0		0
Revenues			14,161
Cost of Revenues			9,346
Gross Profit			4,815
Operating Expenses			40,422
Income(loss) from Continuing Operations			(35,607)
Other Income (Expenses)
Gain (Loss) on Disposition of Other Assets			0
Gains (Losses) on Extinguishment of Debt			0
Interest expense			(630)
Non-Operating (expense) income			10
Total Other Income (Expenses)			(620)
Income(loss) from Continuing Operations Before Income Taxes			(36,227)
Income Tax Expense			0
Net Income (Loss)			(36,227)
Income(loss) attributable to non-controlling interest			0
Net Income(Loss)			(36,227)
Other Comprehensive Income:
Unrealized foreign currency translation gain			1,921
Comprehensive Income(loss) Attributable to Leo Motors, Inc.			(34,306)
Leo Motors
Assets
Cash and cash equivalents	130,874		130,874
Accounts receivable	1,015,447		1,015,447
Inventories	838,785		838,785
Prepayment to suppliers	382,545		382,545
Other current assets	199,073		199,073
Total Current Assets	2,566,724		2,566,724
Fixed assets, net	142,137		142,137
Deposit	346,255		346,255
Goodwill	3,057,003		3,057,003
Investments in Subsidiaries	500,000		500,000
Total Assets	6,699,394		6,699,394
Current Liabilities:
Accounts payable and accrued expenses	3,748,487		3,748,487
Advance from customers	496,385		496,385
Due to related parties	136,887		136,887
Taxes payable	155,151		155,151
Notes Payable current portion	264,158		264,158
Total Current Liabilities	4,801,068		4,801,068
Accrued severance benefits	96,518		96,518
Total Liabilities	5,189,764		5,189,764
Leo Motors, Inc.("LEOM") Equity(Deficit):
Common stock	164,614		164,614
Additional paid-in capital	21,488,871		21,488,871
Accumulated other comprehensive income	1,329,240		1,329,240
Accumulated loss	(25,827,119)		(25,827,119)
Total Equity(Deficit) Leo Motors, Inc.	(2,844,394)		(2,844,394)
Non-controlling interest	4,354,024		4,354,024
Total Equity(Deficit)	1,509,630		1,509,630
Total Liabilities and Equity(Deficit)	6,699,394		6,699,394
Current Assets
Stockholder loans	0		0
Other Assets, Noncurrent	87,275		87,275
Investments	500,000		500,000
Other long term liabilities	196,579		196,579
Long-term Debt, Excluding Current Maturities	95,599		95,599
Commitments (Note 8)	$ 0		0
Revenues			745,706
Cost of Revenues			291,014
Gross Profit			454,692
Operating Expenses			908,860
Income(loss) from Continuing Operations			(454,168)
Other Income (Expenses)
Gain (Loss) on Disposition of Other Assets			0
Gains (Losses) on Extinguishment of Debt			0
Interest expense			(9,328)
Non-Operating (expense) income			5,330
Total Other Income (Expenses)			(3,998)
Income(loss) from Continuing Operations Before Income Taxes			(458,166)
Income Tax Expense			0
Net Income (Loss)			(458,166)
Income(loss) attributable to non-controlling interest			(35,655)
Net Income(Loss)			(422,511)
Other Comprehensive Income:
Unrealized foreign currency translation gain			78,120
Comprehensive Income(loss) Attributable to Leo Motors, Inc.			$ (344,391)
Net Loss per Common Share:
Basic			$ 0
Diluted			$ 0
Weighted Average Common Shares Outstanding:
Weighted Average Number of Shares Issued, Basic			163,198,512
Diluted			163,198,512