VizConnect (VIZC) 10-Q 14 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 11, 2014
Document And Entity Information	'	'
Entity Registrant Name	'VIZCONNECT, INC.	'
Entity Central Index Key	'0001506295	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'
Entity a Well-known Seasoned Issuer	'No	'
Entity a Voluntary Filer	'No	'
Entity's Reporting Status Current	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	66,638,390

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS	'	'
Cash	$797	$34,904
Prepaid expenses and other current assets	5,618	14,654
TOTAL CURRENT ASSETS	6,415	49,558
Property, plant and equipment - net	1,814	1,937
TOTAL ASSETS	8,229	51,495
CURRENT LIABILITIES:	'	'
Cash Overdraft	1,104	'
Current portion of convertible notes payable, net of discount of $0 and $85,583 at June 30, 2014 and December 31, 2013, respectively	133,000	32,167
Accounts payable	371,047	237,705
Accrued expenses	148,258	97,088
Deferred revenues	9,655	52,356
Notes payable- related party	29,842	22,500
Notes payable	358,443	72,000
Derivative liability	200,898	203,850
TOTAL CURRENT LIABILITIES	1,252,247	717,666
Convertible notes payable net of discount of $184,768 and $325,130 at June 30, 2014 and December 31, 2013, respectively	47,792	37,370
TOTAL LIABILITIES	1,300,039	755,036
STOCKHOLDERS' DEFICIT	'	'
Preferred Stock: $0.001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2014 and December 31, 2013	'	'
Common Stock: $0.001 par value, 250,000,000 shares authorized, 66,638,390 shares issued and outstanding as of June 30, 2014, and 40,680,000 shares issued and outstanding as of December 31, 2013	66,638	40,680
Additional paid in capital	1,903,439	132,752
Accumulated deficit	-3,340,292	-960,993
VizConnect, Inc. stockholders' deficit	-1,370,215	-787,561
Noncontrolling interest	78,405	84,020
Total stockholders' deficit	-1,291,810	-703,541
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$8,229	$51,495

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
LIABILITIES AND STOCKHOLDERS' DEFICIT	'	'
Current portion of convertible notes payable, net of discount	$0	$85,583
Convertible notes payable net of discount	$184,768	$325,130
STOCKHOLDERS' DEFICIT	'	'
Preferred stock, Par value	$0.00	$0.00
Preferred stock, Authorized	5,000,000	5,000,000
Preferred stock, Issued	0	0
Preferred stock, Outstanding	0	0
Common stock, Par value	$0.00	$0.00
Common stock, Authorized	250,000,000	250,000,000
Common stock, Issued	66,638,390	40,680,000
Common stock, Outstanding	66,638,390	40,680,000

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Condensed Consolidated Statements Of Operations	'	'	'	'
Revenue	$76,254	$55,651	$140,477	$108,334
Total Revenue	76,254	55,651	140,477	108,334
OPERATING EXPENSES:	'	'	'	'
Programming, Hosting & Technology Expense	16,799	21,131	35,696	35,964
Professional Fees	418,698	58,488	829,193	120,381
General and Administrative	60,068	60,558	937,066	84,847
Selling Expense	19,917	34,226	48,232	59,035
Total Operating Expenses	515,482	174,403	1,850,187	300,227
Loss From Operations	-439,228	-118,752	-1,709,710	-191,893
Loss on change in fair value of derivative liability	-83,058	-270,977	-158,160	-270,977
Interest expense	-354,253	-12,339	-517,044	-19,897
NET LOSS BEFORE INCOME TAX	-876,539	-402,068	-2,384,914	-482,767
Provision for income taxes	'	'	'	'
NET LOSS	-876,539	-402,068	-2,384,914	-482,767
Net Loss Attributable to Noncontrolling Interest	'	'	-5,615	'
Net Loss Attributable to Controlling Interest	($876,539)	($402,068)	($2,379,299)	($482,767)
Basic and diluted loss per common share	($0.01)	($0.01)	($0.04)	($0.01)
Basic and diluted weighted average shares outstanding	64,863,964	40,680,000	60,648,622	36,934,222

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($2,379,299)	($482,767)
Adjustments to Reconcile Net Loss To Net Cash Used in Operating Activities:	'	'
Net loss attributable to noncontrolling interest	-5,615	'
Depreciation Expense	123	22
Amortization of debt discount	303,746	5,922
Loss on change in fair value of derivative liability	158,160	270,977
Stock issued for services	1,434,625	'
Changes in Operating Assets and Liabilities:	'	'
Prepaid Expenses	9,036	-7,242
Accounts Payable	133,342	91,826
Accrued Expenses	68,980	39,065
Deferred Revenue	-42,701	49,133
Net Cash Used In Operating Activities	-319,603	-33,064
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Fixed asset purchases	'	-2,152
Net Cash Used In Investing Activities	'	-2,152
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Cash Overdraft	1,104	'
Proceeds from notes payable - related party	5,000	'
Repayment of notes payable - related party	-2,500	'
Proceeds from notes payable	477,209	52,500
Repayments of notes payable	-195,317	'
Equity Contributions	'	20,000
Net Cash Provided by Financing Activities	285,496	72,500
NET INCREASE (DECREASE) IN CASH	-34,107	37,284
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	34,904	19,842
CASH AND CASH EQUIVALENTS AT END OF PERIOD	797	57,126
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION	'	'
Cash Paid for Interest	107,625	'
Cash Paid for Taxes	'	'
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:	'	'
During the six months ended June 30, 2014 the Company converted $4,842 of interest to principal on notes payable - related party.	'	'
During the six months ended June 30, 2014 the Company reclassified $219,112 of derivative liability into additional paid in capital upon the repayment of notes.	'	'
During the six months ended June 30, 2014 the Company converted $142,908 of convertible notes to common stock.	'	'
During the six months ended June 30, 2013 the Company allocated $362,500 of notes payable to derivative liability.	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) (USD $)	6 Months Ended
	Jun. 30, 2014
Condensed Consolidated Statements Of Cash Flows Parenthetical	'
Interest to principal on notes payable - related party	$4,842
Derivative liability into additional paid in capital upon the repayment of the note	219,112
Converted of convertible notes to common stock.	142,908
Allocated of notes payable to derivative	$362,500

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION	'
	(A) Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for comprehensive presentation of financial position and results of operations.
	VizConnect, Inc. (the "Company") was setup as a corporation under the laws of the State of Nevada on October 15, 2010. The Company, through its wholly-owned subsidiary, VizConnect LLC, a Massachusetts limited liability company, provides cloud based marketing services using a combination of mobile video marketing, video storage, and cloud computing in one easy to access system for a monthly fee. The Company’s year-end is December 31.
	On February 13, 2013, VizConnect, Inc. consummated a share exchange with VizConnect LLC. Under the terms of the share exchange, the members of VizConnect LLC received 25,000,000 shares of the common stock of VizConnect, Inc. for 100% of the issued and outstanding member’s interest of VizConnect LLC. As a result of the transaction, the members of VizConnect LLC became the majority owners of VizConnect, Inc. and VizConnect LLC became a wholly-owned subsidiary.
	The reverse merger is deemed a capital transaction and the net assets of VizConnect LLC (the accounting acquirer) are carried forward to the VizConnect, Inc. (the legal acquirer and the reporting entity) at their carrying value before the combination. The acquisition process utilizes the capital structure of VizConnect, Inc. and the assets and liabilities of VizConnect LLC, which are recorded at historical cost. The equity of VizConnect, Inc. is the historical equity of VizConnect LLC retroactively restated to reflect the number of shares issued by the Company in the transaction.
	In connection with this transaction, the historical shareholders of VizConnect, Inc. were deemed to have been issued 15,680,000 shares of common stock upon completion of the reverse merger.
	On February 23, 2013, VizConnect, Inc. concluded a 4-for-1 stock split, following which there were 40,680,000 shares of common stock issued and outstanding.
	On October 29, 2013, the Company formed a majority owned subsidiary to conduct business solely in Canada. The majority owned subsidiary is included in the consolidated financial statements of the Company at its formation. The non-controlling interest investors have contibuted $100,000 into the subsidiary, which represents 20% ownership. The Company owns the remaining 80% of the subsidiaries.
	It is management’s opinion that all material adjustments (consisting of normal reoccurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results expected for the year.
	(B) Principal of Consolidation
	The accompanying 2014 and 2013 unaudited condensed consolidated financial statements include the accounts of VizConnect, Inc., VizConnect LLC and its 80% owned-subsidiary, VizConnect Canada from the date of incorporation (October 29, 2013).
	(C) Use of Estimates
	In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include the calculation of deferred revenue during the period and determinations of fair values of certain financial instruments
	(D) Cash and Cash Equivalents
	The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At June 30, 2014 and December 31, 2013, the Company had no cash equivalents.
	(E) Income Taxes
	The Company accounts for income taxes in accordance with FASB ASC 740 " Accounting for Income Taxes ". Under this approach, deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and their liabilities and their respective tax bases. 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 income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.
	(F) Software Development Costs
	We expense software development costs to be marketed to external users, before technological feasibility of such products is reached. We have determined that technological feasibility is reached shortly before the release of those products and as a result, the development costs incurred after the establishment of technological feasibility and before the release of those products were not material, and accordingly, were expensed as incurred. Software development costs totaled $35,696 and $10,614 for the six-months periods ended June 30, 2014 and 2013, respectively.
	(G) Business Segments
	The Company operates in one segment and therefore segment information is not presented.
	(H) Revenue Recognition
	The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “ Revenue Recognition ”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured.
	The Company recognizes revenue from monthly subscriptions fees in the month in which services are provided.
	The Company recognizes revenue from set up fees at the time the initial set up is complete and the fees are earned.
	The Company recognizes revenue from distributor membership fees monthly over the one year membership period. Any fees collected in which the services are not provided are recorded as deferred revenue.
	(I) Selling Expenses
	The Company incurs selling expenses under a “multi-level” compensation plan, which includes commissions for subscription sales made and bonuses for assisting associated distributors in closing initial subscription sales. Commissions are earned from direct sales as well as the sales made through the sales network they have developed. Accrued commissions payable was $50,071 and $42,057 as of June 30, 2014 and December 31, 2013, respectively.
	(J) Concentrations
	As of June 30, 2014 and 2013, respectively, the Company has no customers whose sales account for more than 10% of total sales.
	(K) Property and Equipment
	Property and equipment is recorded at cost. Additions and betterments are capitalized; maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the asset’s estimated useful life, which is 5 years for furniture. Gains and losses on disposal are charged to operations.
	(L) Fair Value Measurements
	The Company’s capital structure includes the use of convertible debt features that are classified as derivative financial instruments. Derivative financial instruments are recognized as either assets or liabilities and are measured at fair value in accordance with FASB ASC 815 “ Derivatives and Hedging ”. ASC 815 requires that changes in fair value of derivative financial instruments with no hedging designation be recognized as gains (losses) in the earnings statement. Fair value measurement and disclosures are determined in accordance with FASB ASC 820 “ Fair Value Measurements and Disclosures ”.
	FASB ASC 820 establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, the estimates present herein are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value.
	The following inputs are used in the valuation of the financial assets and liabilities.
	Level 1 - Inputs represent unadjusted quoted prices for identical assets and liabilities exchanged in active markets.
	Level 2 - Inputs include directly or indirectly observable inputs other than Level 1 inputs such as quoted prices for similar assets or liabilities exchanged in active or inactive markets; quoted prices for identical assets or liabilities exchanged in inactive markets; other inputs that are considered in fair value determinations of the assets or liabilities, such as interest rates or yield curves that are observable at commonly quoted intervals, volatilities, repayment speeds, loss severities, credit risks and default rates; and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	Level 3 - Inputs include unobservable inputs used in the measurement of assets and liabilities. Management is required to use its own assumptions regarding unobservable inputs, because there is little, if any, market activity in the assets or liabilities or related observable inputs that can be corroborated at the measurement date. Measurements of non-exchange traded derivative contract assets and liabilities are primarily based on valuation models, discounted cash flow models or other valuation techniques that are believed to be used by market participants. Unobservable inputs require management to make certain projections and assumptions about the information that would be used by market participants in pricing assets and liabilities.
	The fair values of financial instruments that include cash and amounts due to related parties were estimated to approximate their carrying values due to the immediate or relatively short maturity of these instruments.
	The Company’s operations and financing activities are conducted primarily in United States dollars, and as a result are not subject to significant exposure to market risks from changes in foreign currency rates. Management has determined that the Company is not exposed to significant credit risk.
	The following is a summary of liabilities measured at fair value on a recurring basis at June 30, 2014:
	Description	Total Fair			Level 1		Level 2	Level 3
		Value
	Derivatives:
	Conversion Feature Liability	$	200,898					$	200,898
	Total derivatives	$	200,898					$	200,898
	The following is a summary of liabilities measured at fair value on a recurring basis at December 31, 2013:
	Description	Total Fair			Level 1		Level 2	Level 3
		Value
	Derivatives:
	Conversion Feature Liability	$	203,850					$	203,850
	Total derivatives	$	203,850					$	203,850
	The changes in derivatives measured at fair value for which, the Company has used Level 3 inputs to determine fair value at June 30, 2014 are as follows:
			For the six months ended June 30, 2014
	Beginning of the year	$	203,850
	Additional loans		58,000
	Loss on change in fair value		158,160
	Settlements		(219,112	)
	End of the quarter	$	200,898
	The following is a description of the valuation methodology used for liabilities measured at fair value.
	Conversion feature liability – The fair value of the derivative instrument was estimated using the Black Scholes option pricing model. (See Note 6)
	(M) Re-classifications
Certain amounts from prior periods have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s net loss or cash flows.
(N) Loss per Share
The Company computes net loss per share in accordance with FASB ASC 260 “ Earnings per Share ”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.
The following summarizes potential anti-dilutive shares:
	June 30,			June 30,
	2014			2013
(number of shares)
Convertible notes		6,302,759			2,589,286
Total		6,302,759			2,589,286
(O) Recent Account Pronouncements
Recent accounting pronouncements issued by the Financial Accounting Standards Board (FASB) (including its Emerging Issues Task Force), the AICPA, and the SEC, did not, or are not believed by management, to have a material impact on the Company’s present or future financial statements.

GOING_CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
2. GOING CONCERN	'
	The Company had a net loss of $2,379,299 attributable to common stockholders for the six months ended June 30, 2014, a Stockholders’ deficit of $1,291,810 and a working capital deficit of $1,245,832 as of June 30, 2014. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital through expanding their mobile video platform designed to help social celebrities, businesses and brands and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
	Management believes that actions presently being taken to obtain additional funding through implementing its strategic plans, marketing strategy and sales incentives to expand operations will provide the opportunity for the Company to continue as a going concern.

NOTES_PAYABLERELATED_PARTY

NOTES PAYABLE-RELATED PARTY	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
3. NOTES PAYABLE-RELATED PARTY	'
	During 2011, the Company entered into two notes payable for a total of $22,500. The Notes have an interest rate of 10%, are unsecured, and due March 15, 2012. On February 14, 2014, these notes plus accrued interest were converted into a new note due on November 14, 2014 with an interest rate of 15%. During the three months ended March 31, 2014, $2,500 was repaid. The Company also converted $4,842 of interest to principal on the notes. During 2014, the Company entered into two notes payable for a total of $5,000 with no interest, are unsecured, and due on demand. As of June 30, 2014 and December 31, 2013, the total amount outstanding is $29,842 and $22,500, respectively. Accrued interest totaled $1,408 and $5,171 as of June 30, 2014 and December 31, 2013, respectively.

NOTES_PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
4. NOTES PAYABLE	'
	During 2011, The Company entered into a note payable for $15,000. The Note has an interest rate of 2% monthly, is unsecured, and due on demand. As of June 30, 2014 and December 31, 2013, the total amount outstanding is $13,000. Accrued interest totaled $9,280 and $7,720 as of June 30, 2014 and December 31, 2013, respectively.
	On February 4, 2014, the Company received $35,000 in exchange for accounts receivable of $47,915. The amount is repayable on a daily basis whereby the Company pays $300 per day. As of June 30, 2014, $10,443 was owed under this agreement.
	In January and February, 2014, the Company entered into notes payable for $30,000. The Notes have an interest rate of 15% per year, are unsecured, and due in January and February, 2015.
	In March, 2014, the Company entered into a note payable for $60,000. The Note has a lump sum interest payment due of $4,000, is unsecured, and due September 21, 2014.
	In March, 2014, the Company entered into a note payable for $100,000. The Note has an interest rate of 10% with a lump sum of $10,000 due upon repayment, is unsecured, and due September 21, 2014. In the second quarter of 2014, the Company accreted $ 10,000 of the original issuance discount.
	On May 15, 2014, the Company entered into a note payable for $100,000. The Note has an interest rate of 10% with a lump sum of $20,000 due upon repayment, is unsecured, and due September 21, 2014. In the second quarter of 2014, the Company accreted $ 15,000 of the original issuance discount.
	On June 4, 2014, the Company entered into a note payable for $20,000. The Note has a lump sum interest payment due of $3,000, is unsecured, and due July, 2014.
	In Summary, during 2014, the Company received $ 482,209 of notes payable, including convertible notes payable, with maturity terms ranging from one month to one year and interest rates from 8% to 22%. The notes contain various conversion rates and prepayment penalties. As of June 30, 2014, the Company has repaid $197,817 of principal and all of the notes have been retired.

CONVERTIBLE_NOTES_PAYABLE

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
5. CONVERTIBLE NOTES PAYABLE	'
	During 2013, the Company received various unsecured convertible loans totaling $215,250 and converted loans payable in the amount of $310,000 to convertible notes payable. During 2013, the Company repaid one convertible note payable in the amount of $42,500. During the first quarter of 2014, the Company received $133,000 of convertible notes payable, one for $75,000 at an interest rate of 22% per year with a term of three months, and one for $58,000 with an interest rate of 8% per year for a term of eight months. During the first quarter of 2014, the Company repaid loans of $42,500, $59,000 and $32,750 less $9,208 of discount. During the second quarter of 2014, the Company repaid a loan of $42,500 and converted $129,940 to common stock. The long-term convertible loans have interest rates of 8% and 12% per year and mature on February 6, 2018 and March 1, 2018. The current convertible loans have interest rates of 8% and 22% per year and were repaid in July, 2014.
	The following is a summary of the unsecured convertible loans:
						Principal,
	Origination date	Maturity Date	Interest Rate			30-Jun-14			Current Portion			Long-term
	Feb-13	Feb-18		8	%	$	182,560		$	-0-		$	182,560
	May-13	Mar-18		12	%	$	20,000		$	-0-		$	20,000
	Jun-13	Mar-18		12	%	$	30,000		$	-0-		$	30,000
	Dec-13	Sep-14		8	%	$	58,000		$	58,000		$	-0-
	Mar-14	Jul-14		22	%	$	75,000		$	75,000		$	-0-
	Discount Notes payable					$	(184,768	)	$	(0	)	$	(184,768	)
	Total					$	180,792		$	133,000		$	47,792
	Interest recognized for the six month periods ended June 30, 2014 and June 30, 2013 were $517,044 and $19,897 respectively.

DERIVATIVES

DERIVATIVES	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
6. DERIVATIVES	'
	The company has a balance of convertible notes totaling $365,560 with certain investors. The notes can be converted following a holding period provided in the promissory note agreement, and at a set price per share, subject to certain re-set provision. This includes price protection terms, which would reset the per-share purchase price if the Company were obligated to convert other convertible liabilities at a lower per share purchase price.
	The derivative liability is recorded at fair value on the Company’s financial statements, and any changes in their fair value are included in the consolidated statement of operations as a non-cash item.
	The derivative liability is revalued and reported at fair value of $200,898 and $203,850 as of June 30, 2014 and December 31, 2013 respectively.
	The fair value of the convertible notes was estimated using the Black Scholes option pricing model with the following assumptions for the six months ended June 30, 2014.
	Risk free interest rate	.07% and 1.25% based on expected life
	Dividend yield	0%
	Expected volatility	332%
	Expected life (range in years)	.02 to 3.67

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
7. STOCKHOLDERS' EQUITY	'
	On August 10, 2013, the Company entered into a six month consulting agreement for 5,000,000 shares of common stock. The Company expensed the fair value of $321,800 related to the portion earned during the three months ended March 31, 2014.
	On January 1, 2014, the Company entered into a six month consulting agreement for 1,000,000 shares of common stock. The Company expensed the fair value of $100,000 related to the portion earned through June 30, 2014.
	On February 11, 2014, the Company granted 13,175,000 shares of common stock to its board of directors. The Company expensed the fair value of $790,500 related to the portion earned through March 31, 2014.
	In April, 2014, the Company issued 1,555,430 shares of common stock pursuant to the conversion of $100,575 Convertible Notes and $48,141 interest.
	On April 1, 2014, the Company entered into a one year consulting agreement for 4,750,000 shares of common stock. The Company expensed the fair value of $142,500 related to the portion earned through June 30, 2014.
	In May, 2014, the Company issued 227,960 shares of common stock pursuant to the conversion of $29,365 Convertible Notes and $3,125 interest.
	On May 9, 2014, the Company entered into a three month consulting agreement for 250,000 shares of common stock. The Company expensed the fair value of $35,000 related to the portion earned through June 30, 2014.
	On May 14, 2014, the Company entered into a one year consulting agreement for 500,000 shares of common stock of which 125,000 vest per quarter. The Company expensed the fair value of $6,527 related to the portion earned through June 30, 2014.
	Increases in additional paid in capital of $80,716 for the three months ended March 31, 2014 and $138,396 for the three months ended June 30, 2014 were made for the conversions and repayments of Convertible Notes.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
8. RELATED PARTY TRANSACTIONS	'
	During 2011, the Company entered into two notes payable for a total of $22,500. On February 14, 2014, these notes plus accrued interest were converted into a new note due on November 14, 2014 with an interest rate of 15%. During 2014, the Company entered into two notes payable for a total of $5,000 with no interest. As of June 30, 2014 and December 31, 2013, the total amount outstanding is $29,842 and $22,500 respectively. Accrued interest totaled $1,408 and $5,171 as of June 30, 2014 and December 31, 2013, respectively.
	During 2012, the Company received various unsecured loans from a related party totaling $310,000. The loans have an interest rate of 8% per year and mature at various days through February 2018. During 2013, the loans were converted into convertible notes payable (See Notes 5 and 6).
	During the year ending December 31, 2013, the Company incurred software development expenses totaling $9,800 from a company owned by an officer. As of June 30, 2014, the total amount owed to the related vendor is $42,500 and is recorded in accounts payable.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
9. SUBSEQUENT EVENTS	'
	On July 2, 2014, the Company entered into a $335,000 Convertible Note of which $50,000 was received with the balance to be received in the future upon mutual agreement. The note has an interest rate of 0% if paid within three months, at which time the note will terminate, otherwise 12% for a term of two years.
	On July 3, 2014, the Company entered into a $78,750 Convertible Note with an interest rate of 8% per year for a term of one year with an option for a second Convertible Note of $78,750 with the same terms.
	On July 17, 2014, the Company entered into two $50,000 Convertible Notes of which $50,000 was received with the second note funds to be received in the future upon mutual agreement. The note has an interest rate of 12% per year for a term of six months.
	On July 17, 2014, the Company entered into a $68,000 Convertible Note with an interest rate of 8% per year for a term of nine months.
	On July 17, 2014, the Company entered into a $75,000 Note with an interest rate of 15% for a term of three months.
	The Company is required to reserve 49,073,000 shares of common stock under the convertible note agreements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Policies)	6 Months Ended
	Jun. 30, 2014
Summary Of Significant Accounting Policies And Organization Policies	'
Basis of Presentation	'
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for comprehensive presentation of financial position and results of operations.
	VizConnect, Inc. (the "Company") was setup as a corporation under the laws of the State of Nevada on October 15, 2010. The Company, through its wholly-owned subsidiary, VizConnect LLC, a Massachusetts limited liability company, provides cloud based marketing services using a combination of mobile video marketing, video storage, and cloud computing in one easy to access system for a monthly fee. The Company’s year-end is December 31.
	On February 13, 2013, VizConnect, Inc. consummated a share exchange with VizConnect LLC. Under the terms of the share exchange, the members of VizConnect LLC received 25,000,000 shares of the common stock of VizConnect, Inc. for 100% of the issued and outstanding member’s interest of VizConnect LLC. As a result of the transaction, the members of VizConnect LLC became the majority owners of VizConnect, Inc. and VizConnect LLC became a wholly-owned subsidiary.
	The reverse merger is deemed a capital transaction and the net assets of VizConnect LLC (the accounting acquirer) are carried forward to the VizConnect, Inc. (the legal acquirer and the reporting entity) at their carrying value before the combination. The acquisition process utilizes the capital structure of VizConnect, Inc. and the assets and liabilities of VizConnect LLC, which are recorded at historical cost. The equity of VizConnect, Inc. is the historical equity of VizConnect LLC retroactively restated to reflect the number of shares issued by the Company in the transaction.
	In connection with this transaction, the historical shareholders of VizConnect, Inc. were deemed to have been issued 15,680,000 shares of common stock upon completion of the reverse merger.
	On February 23, 2013, VizConnect, Inc. concluded a 4-for-1 stock split, following which there were 40,680,000 shares of common stock issued and outstanding.
	On October 29, 2013, the Company formed a majority owned subsidiary to conduct business solely in Canada. The majority owned subsidiary is included in the consolidated financial statements of the Company at its formation. The non-controlling interest investors have contibuted $100,000 into the subsidiary, which represents 20% ownership. The Company owns the remaining 80% of the subsidiaries.
	It is management’s opinion that all material adjustments (consisting of normal reoccurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results expected for the year.
Principal of Consolidation	'
	The accompanying 2014 and 2013 unaudited condensed consolidated financial statements include the accounts of VizConnect, Inc., VizConnect LLC and its 80% owned-subsidiary, VizConnect Canada from the date of incorporation (October 29, 2013).
Use of estimates	'
	In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include the calculation of deferred revenue during the period and determinations of fair values of certain financial instruments
Cash and cash equivalents	'
	The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At June 30, 2014 and December 31, 2013, the Company had no cash equivalents.
Income Taxes	'
	The Company accounts for income taxes in accordance with FASB ASC 740 " Accounting for Income Taxes ". Under this approach, deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and their liabilities and their respective tax bases. 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 income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.
Software Development Costs	'
	We expense software development costs to be marketed to external users, before technological feasibility of such products is reached. We have determined that technological feasibility is reached shortly before the release of those products and as a result, the development costs incurred after the establishment of technological feasibility and before the release of those products were not material, and accordingly, were expensed as incurred. Software development costs totaled $35,696 and $10,614 for the six-months periods ended June 30, 2014 and 2013, respectively.
Business Segments	'
	The Company operates in one segment and therefore segment information is not presented.
Revenue Recognition	'
	The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “ Revenue Recognition ”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured.
	The Company recognizes revenue from monthly subscriptions fees in the month in which services are provided.
	The Company recognizes revenue from set up fees at the time the initial set up is complete and the fees are earned.
	The Company recognizes revenue from distributor membership fees monthly over the one year membership period. Any fees collected in which the services are not provided are recorded as deferred revenue.
Selling Expenses	'
	The Company incurs selling expenses under a “multi-level” compensation plan, which includes commissions for subscription sales made and bonuses for assisting associated distributors in closing initial subscription sales. Commissions are earned from direct sales as well as the sales made through the sales network they have developed. Accrued commissions payable was $50,071 and $42,057 as of June 30, 2014 and December 31, 2013, respectively.
Concentrations	'
	As of June 30, 2014 and 2013, respectively, the Company has no customers whose sales account for more than 10% of total sales.
Property and Equipment	'
	Property and equipment is recorded at cost. Additions and betterments are capitalized; maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the asset’s estimated useful life, which is 5 years for furniture. Gains and losses on disposal are charged to operations.
Fair Value Measurements	'
	The Company’s capital structure includes the use of convertible debt features that are classified as derivative financial instruments. Derivative financial instruments are recognized as either assets or liabilities and are measured at fair value in accordance with FASB ASC 815 “ Derivatives and Hedging ”. ASC 815 requires that changes in fair value of derivative financial instruments with no hedging designation be recognized as gains (losses) in the earnings statement. Fair value measurement and disclosures are determined in accordance with FASB ASC 820 “ Fair Value Measurements and Disclosures ”.
	FASB ASC 820 establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, the estimates present herein are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value.
	The following inputs are used in the valuation of the financial assets and liabilities.
	Level 1 - Inputs represent unadjusted quoted prices for identical assets and liabilities exchanged in active markets.
	Level 2 - Inputs include directly or indirectly observable inputs other than Level 1 inputs such as quoted prices for similar assets or liabilities exchanged in active or inactive markets; quoted prices for identical assets or liabilities exchanged in inactive markets; other inputs that are considered in fair value determinations of the assets or liabilities, such as interest rates or yield curves that are observable at commonly quoted intervals, volatilities, repayment speeds, loss severities, credit risks and default rates; and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	Level 3 - Inputs include unobservable inputs used in the measurement of assets and liabilities. Management is required to use its own assumptions regarding unobservable inputs, because there is little, if any, market activity in the assets or liabilities or related observable inputs that can be corroborated at the measurement date. Measurements of non-exchange traded derivative contract assets and liabilities are primarily based on valuation models, discounted cash flow models or other valuation techniques that are believed to be used by market participants. Unobservable inputs require management to make certain projections and assumptions about the information that would be used by market participants in pricing assets and liabilities.
	The fair values of financial instruments that include cash and amounts due to related parties were estimated to approximate their carrying values due to the immediate or relatively short maturity of these instruments.
	The Company’s operations and financing activities are conducted primarily in United States dollars, and as a result are not subject to significant exposure to market risks from changes in foreign currency rates. Management has determined that the Company is not exposed to significant credit risk.
	The following is a summary of liabilities measured at fair value on a recurring basis at June 30, 2014:
	Description	Total Fair			Level 1		Level 2	Level 3
		Value
	Derivatives:
	Conversion Feature Liability	$	200,898					$	200,898
	Total derivatives	$	200,898					$	200,898
	The following is a summary of liabilities measured at fair value on a recurring basis at December 31, 2013:
	Description	Total Fair			Level 1		Level 2	Level 3
		Value
	Derivatives:
	Conversion Feature Liability	$	203,850					$	203,850
	Total derivatives	$	203,850					$	203,850
	The changes in derivatives measured at fair value for which, the Company has used Level 3 inputs to determine fair value at June 30, 2014 are as follows:
			For the six months ended June 30, 2014
	Beginning of the year	$	203,850
	Additional loans		58,000
	Loss on change in fair value		158,160
	Settlements		(219,112	)
	End of the quarter	$	200,898
	The following is a description of the valuation methodology used for liabilities measured at fair value.
	Conversion feature liability – The fair value of the derivative instrument was estimated using the Black Scholes option pricing model. (See Note 6)
Re-classifications	'
	Certain amounts from prior periods have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s net loss or cash flows.
Loss per share	'
	The Company computes net loss per share in accordance with FASB ASC 260 “ Earnings per Share ”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.
	The following summarizes potential anti-dilutive shares:
		June 30,			June 30,
		2014			2013
	(number of shares)
	Convertible notes		6,302,759			2,589,286
	Total		6,302,759			2,589,286
Recent Account Pronouncements	'
	Recent accounting pronouncements issued by the Financial Accounting Standards Board (FASB) (including its Emerging Issues Task Force), the AICPA, and the SEC, did not, or are not believed by management, to have a material impact on the Company’s present or future financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Tables)	6 Months Ended
	Jun. 30, 2014
Summary Of Significant Accounting Policies And Organization Tables	'
Summary of liabilities measured at fair value on a recurring basis	'
	The following is a summary of liabilities measured at fair value on a recurring basis at June 30, 2014:
	Description	Total Fair			Level 1		Level 2	Level 3
		Value
	Derivatives:
	Conversion Feature Liability	$	200,898					$	200,898
	Total derivatives	$	200,898					$	200,898
	The following is a summary of liabilities measured at fair value on a recurring basis at December 31, 2013:
	Description	Total Fair			Level 1		Level 2	Level 3
		Value
	Derivatives:
	Conversion Feature Liability	$	203,850					$	203,850
	Total derivatives	$	203,850					$	203,850
Summary of Level 3 inputs to determine fair value	'
	The changes in derivatives measured at fair value for which, the Company has used Level 3 inputs to determine fair value at June 30, 2014 are as follows:
			For the six months ended June 30, 2014
	Beginning of the year	$	203,850
	Additional loans		58,000
	Loss on change in fair value		158,160
	Settlements		(219,112	)
	End of the quarter	$	200,898
Summarizes of potential anti-dilutive shares	'
	The following summarizes potential anti-dilutive shares:
		June 30,			June 30,
		2014			2013
	(number of shares)
	Convertible notes		6,302,759			2,589,286
	Total		6,302,759			2,589,286

CONVERTIBLE_NOTES_PAYABLE_Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2014
Convertible Notes Payable Tables	'
Unsecured convertible loans	'
	The following is a summary of the unsecured convertible loans:
						Principal,
	Origination date	Maturity Date	Interest Rate			30-Jun-14			Current Portion			Long-term
	Feb-13	Feb-18		8	%	$	182,560		$	-0-		$	182,560
	May-13	Mar-18		12	%	$	20,000		$	-0-		$	20,000
	Jun-13	Mar-18		12	%	$	30,000		$	-0-		$	30,000
	Dec-13	Sep-14		8	%	$	58,000		$	58,000		$	-0-
	Mar-14	Jul-14		22	%	$	75,000		$	75,000		$	-0-
	Discount Notes payable					$	(184,768	)	$	(0	)	$	(184,768	)
	Total					$	180,792		$	133,000		$	47,792

DERIVATIVES_Tables

DERIVATIVES (Tables)	6 Months Ended
	Jun. 30, 2014
Derivatives Tables	'
Schedule of assumptions	'
	The fair value of the convertible notes was estimated using the Black Scholes option pricing model with the following assumptions for the six months ended June 30, 2014.
	Risk free interest rate	.07% and 1.25% based on expected life
	Dividend yield	0%
	Expected volatility	332%
	Expected life (range in years)	.02 to 3.67

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Conversion Feature Liability	$200,898	$203,850
Total derivatives	200,898	203,850
Level 1 [Member]	'	'
Conversion Feature Liability	'	'
Total derivatives	'	'
Fair Value, Inputs, Level 2 [Member]	'	'
Conversion Feature Liability	'	'
Total derivatives	'	'
Fair Value, Inputs, Level 3 [Member]	'	'
Conversion Feature Liability	200,898	203,850
Total derivatives	$200,898	$203,850

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details 1) (USD $)	6 Months Ended
	Jun. 30, 2014
Summary Of Significant Accounting Policies And Organization Details 1	'
Beginning of the year	$203,850
Additional loans	58,000
Gain on change in fair value	158,160
Settlements	-219,112
End of the quarter	$200,898

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details 2)	Jun. 30, 2014	Jun. 30, 2013
Summary Of Significant Accounting Policies And Organization Details 2	'	'
Convertible Notes	6,302,759	2,589,286
TOTAL	6,302,759	2,589,286

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Summary Of Significant Accounting Policies And Organization Details Narrative	'	'	'
Cash and cash equivalents	$0	'	$0
Software development costs	35,696	10,614	'
Accrued commissions payable	$50,071	'	$42,057
Percentage of sales	10.00%	'	10.00%

GOING_CONCERN_Details_Narrativ

GOING CONCERN (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Going Concern Details Narrative	'	'
Net loss	$2,379,299	'
Stockholders' deficit	1,291,810	703,541
Working capital deficit	$1,245,832	'

NOTES_PAYABLERELATED_PARTY_Det

NOTES PAYABLE-RELATED PARTY (Details Narrative) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Notes Payable-Related Party Details Narrative	'	'
Notes payable outstanding	$29,842	$22,500
Accrued interest to related party	$1,408	$5,171

NOTES_PAYABLE_Details_Narrativ

NOTES PAYABLE (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Note payable outstanding	$13,000	$13,000
Accrued Interest	9,280	7,720
Company owed	10,443	'
Repaid of principal amount	197,817	'
March 2014 [Member]	'	'
Original issuance discount	10,000	'
15, May 2014 [ Member]	'	'
Original issuance discount	$15,000	'

CONVERTIBLE_NOTES_PAYABLE_Deta

CONVERTIBLE NOTES PAYABLE (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
Long term ending principal	$180,792
Current Portion	133,000
Long Term	47,792
February 2013 [Member]	'
Maturity Date	'February 2018
Interest Rate	8.00%
Long term ending principal	182,560
Current Portion	0
Long Term	182,560
May 2013 [ Member]	'
Maturity Date	'March 2018
Interest Rate	12.00%
Long term ending principal	20,000
Current Portion	0
Long Term	20,000
June 2013 [Member]	'
Maturity Date	'March 2018
Interest Rate	12.00%
Long term ending principal	30,000
Current Portion	0
Long Term	30,000
December 2013 [Member]	'
Maturity Date	'September 2014
Interest Rate	8.00%
Long term ending principal	58,000
Current Portion	58,000
Long Term	0
March 2014 [Member]	'
Maturity Date	'July 2014
Interest Rate	22.00%
Long term ending principal	75,000
Current Portion	75,000
Long Term	0
Discount on notes payable [Member]	'
Long term ending principal	-184,768
Current Portion	0
Long Term	($184,768)

CONVERTIBLE_NOTES_PAYABLE_Deta1

CONVERTIBLE NOTES PAYABLE (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2014
Convertible Notes Payable Details Narrative	'
Unsecured convertible loans	$215,250
Loan payable converted amount	310,000
Repayment of one convertible notes payable	42,500
Loan repaid	42,500
Convertable common stock	$129,940

DERIVATIVES_Details

DERIVATIVES (Details)	6 Months Ended
	Jun. 30, 2014
Dividend yield	0.00%
Expected volatility	332.00%
Minimum [Member]	'
Risk free interest rate	0.07%
Expected life (range in years)	'7 days
Maximum [Member]	'
Risk free interest rate	1.25%
Expected life (range in years)	'3 years 8 months 1 day

DERIVATIVES_Details_Narrative

DERIVATIVES (Details Narrative) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Derivatives Details Narrative	'	'
Balance of convertible notes	$365,560	'
Derivative liability fair value	$200,898	$203,850

STOCKHOLDERS_EQUITY_Details_Na

STOCKHOLDERSb EQUITY (Details Narrative) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
		1-Jan-14	On April 1, 2014	On May 9, 2014	On May 14, 2014
Fair value expense	'	$100,000	$142,500	$35,000	$6,527
Increases in additional paid in capital	$138,396	'	'	'	'

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2014
Related Party Transactions Details Narrative	'	'
Total amount outstanding	$22,500	$29,842
Accrued interest to related party	5,171	1,408
Software development expenses	9,800	'
Account payable	'	$42,500