MY ORGANIC BABY INC.
Balance Sheets
As of April 30, 2007
(Expressed in Canadian dollars)
April 30, 2007 | January 31, 2007 | |||||
(Unaudited) | (Audited) | |||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 49,470 | $ | 172,812 | ||
Accounts receivable | 232,158 | 135,745 | ||||
Inventories | 211,673 | 7,495 | ||||
Prepaid expenses and sundry assets | 132,426 | 7,991 | ||||
625.727 | 324,042 | |||||
Property, plant and equipment | 22,267 | - | ||||
$ | 647,994 | $ | 324,042 | |||
Liabilities and Shareholders’ Equity | ||||||
Liabilities | ||||||
Current | ||||||
Accounts payable and accrued liabilities | 599,745 | 326,905 | ||||
Advances to related company | - | 8,400 | ||||
599,745 | 335,305 | |||||
Shareholders’ equity: | ||||||
Share capital | 100 | 100 | ||||
Retained earnings | 48,149 | (11,363 | ) | |||
48,249 | (11,263 | ) | ||||
$ | 647,994 | $ | 324,042 |
Approved on behalf of the Board:
_____________________________________ | Director |
_____________________________________ | Director |
The accompanying Financial Statements for the three months ended April 30, 2007 have not been reviewed or audited by the Company’s Auditor
MY ORGANIC BABY INC.
Statement of Income and Retained Earnings
(Unaudited)
(Expressed in Canadian dollars)
Unaudited | Unaudited | |||
For the 3 months ended | For the 3 months ended | |||
April 30 | April 30, | |||
2007 | 2006 | |||
$ | $ | |||
Sales | 943,526 | 320,774 | ||
Cost of sales | 790,806 | 371,916 | ||
Gross profit (loss) | 152,720 | (51,142 | ) | |
Advertising and promotion | 1,865 | 37,978 | ||
Management consulting fees | 10,729 | - | ||
Commission | 23,972 | 652 | ||
Professional fees | 4,636 | - | ||
Office and general | 5,400 | 354 | ||
Travel | 23,325 | 11,837 | ||
Interest and bank charges | 2,281 | - | ||
72,208 | 50,821 | |||
Income (loss) before Income taxes | 80,512 | 101,963 | ||
Income taxes | 21,000 | - | ||
Net Income (loss) | 59,512 | 101,963 |