Pacific Ventures (PACV) 10-Q/A 2 Dec 15 2015 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 20, 2015
Document And Entity Information
Entity Registrant Name	Pacific Ventures Group, Inc.
Entity Central Index Key	882,800
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		25,415,000
Amendment Description	Solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to this report provides the consolidated financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting L
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents
Accounts receivable		$ 12,721
Inventory, net	$ 120,346	58,256
Deposits	1,500	1,500
Total Current Assets	121,846	72,477
Fixed Assets
Fixed assets, net	39,823	106,740
Total Fixed Assets	39,823	106,740
TOTAL ASSETS	161,669	179,217
LIABILITIES AND STOCKHOLDERS' EQUITY
Bank overdraft	1,441	2,589
Accounts payable	306,399	358,867
Accrued expenses	163,009	$ 891,532
Deferred exclusive distribution fee	66,667
Current portion, notes payable	550,333	$ 550,333
Current portion, notes payable - related party	169,838	278,821
Current portion, leases payable	42,565	36,012
Total Current Liabilities	1,300,252	2,118,154
Long-Term Liabilities:
Notes payable - related party	$ 386,036	324,522
Leases payable		6,553
Total Long-Term Liabilities	$ 386,036	331,075
Total Liabilities	1,686,288	2,449,229
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $.001 par value, 10,000,000 shares authorized, 1,000,000 issued and outstanding	1,000	1,000
Common stock, $.001 par value, 30,000,000 shares authorized, 25,384,031 and 22,884,031 issued and outstanding, respectively	25,384	22,884
Additional paid in capital	4,523,606	3,126,535
Accumulated deficit	6,074,609	(5,420,431)
Total Stockholders' Equity (Deficit)	(1,524,619)	(2,270,012)
Total Liabilities and Stockholders' Equity (Deficit)	$ 161,669	$ 179,217

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	30,000,000	30,000,000
Common Stock, shares issued	25,384,031	22,884,031
Common Stock, shares outstanding	25,384,031	22,884,031
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Sales, net of discounts	$ 17,957	$ 22,326	$ 244,176	$ 97,436
Cost of Goods Sold	(2,248)	(17,323)	(91,500)	(43,567)
Gross Profit	15,709	5,003	152,676	53,869
Operating Expenses
Selling, general and administrative	431,052	142,249	513,683	605,797
Depreciation expense	22,306	21,134	66,917	63,401
Salaries and wages	38,721	62,898	178,721	283,293
Operating Expenses/(Loss)	492,079	226,281	759,321	952,491
Loss from Operations	(476,370)	(221,278)	(606,645)	(898,622)
Interest expense	(13,200)	(25,038)	(47,533)	(52,479)
Net Income/(Loss) before Income Taxes	$ (489,570)	$ (246,316)	$ (654,178)	$ (951,101)
Provision for income taxes
Net Income/(Loss)	$ (489,570)	$ (246,316)	$ (654,178)	$ (951,101)
Basic and Diluted Loss per Share - Common Stock	$ (0.02)	$ (0.01)	$ (0.03)	$ (0.04)
Weighted Average Number of Shares Outstanding: Basic and Diluted Common Stock	23,019,901	22,884,031	22,929,819	22,884,031

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net loss	$ (654,178)	$ (951,101)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for services	461,903
Depreciation	$ 66,917	$ 63,401
Changes in operating assets and liabilities
Accounts receivable	12,721	5,848
Inventory	$ (62,090)	(57,388)
Loans Receivable		(3,566)
Deposits		4,053
Accounts payable	$ (52,468)	$ 71,947
Deferred exclusive distribution fee	66,667
Accrued expenses	163,009	$ 891,532
Net Cash Used in Operating Activities	$ (36,197)	(740,980)
INVESTING ACTIVITIES
Security Deposits		6,478
Acquisition of fixed assets		53,646
Net Cash Provided By (Used In) Investing Activities		60,124
FINANCING ACTIVITIES
Bank overdraft	$ (1,148)	4,810
Proceeds from notes payable		$ 500,000
Proceeds from notes payable - related party	$ 53,838
Repayment of notes payable	(108,983)
Common stock issued for cash	$ 92,490	$ 160,107
Repayment on the leases payable		(14,085)
Net Cash Provided by Financing Activities	$ 36,197	650,832
NET INCREASE (DECREASE) IN CASH		(30,024)
CASH AT BEGINNING OF PERIOD		30,024
CASH AT END OF PERIOD
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
CASH PAID FOR: Interest	$ 47,533	52,479
NON CASH FINANCING ACTIVITIES:
Issuance of shares for debt conversion	21,675	$ 160,000
Issuance of shares for accrued wages	$ 225,000