CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
|
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Operating Activities: |
|
|
| Net Income (loss) |
$ 33,758
|
$ 244
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation expense |
5,092
|
5,115
|
| Capital gain |
(5,277)
|
0
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(6,000)
|
0
|
| Prepaid expenses and deposit |
(50,000)
|
0
|
| Accounts payable and accrued expenses |
51,107
|
3,081
|
| Income tax payable |
38,147
|
(55,255)
|
| Net cash provided by (used in) operating activities |
66,827
|
(46,815)
|
| Investing Activities: |
|
|
| Acquisitions of property and equipment |
(3,214)
|
0
|
| Receivable from affiliated companies |
(56,132)
|
0
|
| Payment from affiliated company |
0
|
45,914
|
| Net cash provided by (used in) investing activities |
(59,346)
|
45,914
|
| Financing Activities: |
|
|
| Payments on auto loan |
(1,786)
|
(2,453)
|
| Payments on equipment loan |
0
|
(5,271)
|
| Advance from affiliated company |
0
|
43,600
|
| Bank overdraft |
59,409
|
0
|
| Proceeds from borrowings on note payable from officers |
285,112
|
10,000
|
| Repayments of borrowings on note payable from officers |
(382,777)
|
(20,000)
|
| Net cash provided by (used in) financing activities |
(40,042)
|
25,876
|
| Net increase (decrease) in cash |
(32,561)
|
24,975
|
| Cash, beginning of period |
32,761
|
46,672
|
| Cash, end of period |
200
|
71,647
|
| Cash paid during the period |
|
|
| Interest |
439
|
252
|
| Conversion of debt to common stock |
800
|
54,593
|
| Non-cash investing and financing activities: |
|
|
| Vehicle purchased through auto loan |
$ 22,789
|
$ 17,570
|