Attached files
EXHIBIT 99.1
WESTMONT RESOURCES INC
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ DEFICIT
FOR THE PERIOD FROM INCEPTION ON NOVEMBER 16, 2004 TO November 30, 2010
(AN EXPLORATION STAGE COMPANY)
(Unaudited)
Date
|
Number of Preferred Shares
|
Par Value of Preferred Shares
|
Number of Common Shares
|
Par Value of Common Shares
|
Additional Paid -in Capital
|
Share Subscription Receivables
|
Surplus/
(Deficit) Accumulated During the Exploration Phase
|
Total Stockholders Equity / (Deficit)
|
|||||||||||||||||||||||||
0.001 | 0.001 | ||||||||||||||||||||||||||||||||
Balance – November 16, 2004 (Date of Inception)
|
17-Nov-04
|
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Common stock issued for cash at $0.001 per share
|
18-Nov-04
|
- | - | 110,000 | 110 | 5,390 | - | - | 5,500 | ||||||||||||||||||||||||
Share subscriptions received
|
16-Mar-04
|
- | - | - | - | - | 10,700 | - | 10,700 | ||||||||||||||||||||||||
Net loss for the period
|
1-Jun-04
|
- | - | - | - | - | - | (4,515 | ) | (4,515 | ) | ||||||||||||||||||||||
Balance – May 31, 2005
|
1-Jun-05
|
- | - | 110,000 | 110 | 5,390 | 10,700 | (4,515 | ) | 11,685 | |||||||||||||||||||||||
Common stock issued for cash at $0.02 per share
|
16-Aug-05
|
- | - | 76,660 | 77 | 76,583 | - | - | 76,660 | ||||||||||||||||||||||||
Subscriptions receivable
|
16-Sep-05
|
- | - | - | - | - | (10,700 | ) | - | (10,700 | ) | ||||||||||||||||||||||
Net loss for the year
|
1-Jun-05
|
- | - | - | - | - | - | (16,226 | ) | (16,226 | ) | ||||||||||||||||||||||
Balance – May 31, 2006
|
1-Jun-06
|
- | - | 186,660 | 187 | 81,973 | - | (20,741 | ) | 61,419 | |||||||||||||||||||||||
Net loss for the year
|
1-Jun-06
|
- | - | - | - | - | - | (40,353 | ) | (40,353 | ) | ||||||||||||||||||||||
Balance – May 31, 2007
|
1-Jun-07
|
- | - | 186,660 | 187 | 81,973 | - | (61,094 | ) | 21,066 | |||||||||||||||||||||||
Net loss for the year
|
1-Jun-07
|
- | - | - | - | - | - | (60,832 | ) | (60,832 | ) | ||||||||||||||||||||||
Balance – May 31, 2008
|
1-Jun-08
|
- | - | 186,660 | 187 | 81,973 | - | (121,926 | ) | (39,766 | ) | ||||||||||||||||||||||
Common stock issued for services at $0.001 per share
|
22-Nov-08
|
- | - | 340,000 | 340 | 16,660 | - | - | 17,000 | ||||||||||||||||||||||||
Common stock issued for Avalon International services at $0.001 per share
|
22-Nov-08
|
- | - | 450,000 | 450 | 22,050 | - | - | 22,500 | ||||||||||||||||||||||||
Common stock issued for partial conversion of debt
|
7-Feb-09
|
- | - | 40,000 | 40 | 30,041 | - | - | 30,081 | ||||||||||||||||||||||||
Convertible preferred stock issued for services at $0.001 per share
|
17-Feb-09
|
60,000 | 60 | - | - | 2,940 | - | - | 3,000 | ||||||||||||||||||||||||
Beneficial conversion feature for convertible preferred stock
|
17-Feb-09
|
- | - | - | - | 3,000 | - | - | 3,000 | ||||||||||||||||||||||||
Deemed dividend for preferred shares
|
17-Feb-09
|
- | - | - | - | (3,000 | ) | - | - | (3,000 | ) | ||||||||||||||||||||||
Common stock issued for acquisition of Get2Networks, Inc. at $0.001 per share
|
2-Mar-09
|
- | - | 866,000 | 866 | 42,434 | - | - | 43,300 | ||||||||||||||||||||||||
Common stock issued for partial conversion of debt
|
21-May-09
|
- | - | 50,000 | 50 | 35,500 | - | - | 35,550 | ||||||||||||||||||||||||
Net loss for the year
|
1-Jun-09
|
- | - | - | - | - | - | (546,925 | ) | (546,925 | ) | ||||||||||||||||||||||
Balance – May 31, 2009
|
1-Jun-09
|
60,000 | 60 | 1,932,660 | 1,933 | 231,598 | - | (668,851 | ) | (435,260 | ) | ||||||||||||||||||||||
Convertible preferred stock issued for services at $0.001 per share
|
26-Oct-09
|
30,000 | 30 | - | 1,470 | - | - | 1,500 | |||||||||||||||||||||||||
Common stock issued for service at $0.001 per share
|
1-Dec-09
|
2,000,000 | 2,000 | - | - | - | 2,000 | ||||||||||||||||||||||||||
preferred stock issued for services at $0.001 per share
|
11-May-10
|
40,000 | 40 | - | - | - | 40 | ||||||||||||||||||||||||||
Common stock issued for service at $0.001 per share
|
11-May-10
|
30,000,000 | 30,000 | - | - | - | 30,000 | ||||||||||||||||||||||||||
Common stock cancelled for sale of G2N
|
11-May-10
|
(433,000 | ) | (433 | ) | 433 | - | ||||||||||||||||||||||||||
Preferred stock cancelled for sale of G2N
|
11-May-10
|
(30,000 | ) | (30 | ) | 30 | - | ||||||||||||||||||||||||||
Shares issued for conversion of debt
|
15-May-10
|
20,000,000 | 20,000 | - | - | - | 20,000 | ||||||||||||||||||||||||||
Net loss for the year
|
1-Jun-10
|
- | - | - | - | - | - | (447,113 | ) | (447,113 | ) | ||||||||||||||||||||||
Balance – May 31, 2010
|
1-Jun-10
|
100,000 | 100 | 53,499,660 | 53,500 | 233,531 | - | (1,115,964 | ) | (828,833 | ) | ||||||||||||||||||||||
Net loss for the year
|
1-Sep-10
|
- | - | - | - | - | - | (39,129 | ) | ||||||||||||||||||||||||
Balance – August 31, 2010
|
1-Sep-10
|
100,000 | 100 | 53,499,660 | 53,500 | 233,531 | - | (1,115,964 | ) | (867,962 | ) | ||||||||||||||||||||||
Common stock issued for service at $0.001 per share
|
3-Sep-10
|
175,000 | 175 | - | - | - | 175 | ||||||||||||||||||||||||||
Shares issued for conversion of debt
|
7-Oct-10
|
6,300,000 | 12,715 | - | - | - | 12,715 | ||||||||||||||||||||||||||
Prior period adjustment for non-cancelled stock
|
30-Nov-10
|
30,000 | 30 | 433,000 | 433 | (463 | ) | - | - | - | |||||||||||||||||||||||
Net loss for the year
|
30-Nov-10
|
- | - | - | - | - | - | (155,511 | ) | ||||||||||||||||||||||||
Balance – November 30, 2010
|
30-Nov-10
|
130,000 | 130 | 60,407,660 | 66,823 | 233,068 | - | (1,115,964 | ) | (1,010,583 | ) |