| Focus Universal, Inc. Condensed Balance Sheet |
FOCUS UNIVERSAL
INC.
BALANCE
SHEET
| |
|
September 30, 2016 |
|
|
December 31, 2015 |
|
| |
|
(Unaudited) |
|
|
(Audited) |
|
| |
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
|
|
| Cash and cash
equivalents |
|
$ |
17,942 |
|
|
$ |
5,681 |
|
| Prepaid expenses |
|
|
9,896 |
|
|
|
14,961 |
|
| Total Current Assets |
|
|
27,838 |
|
|
|
20,642 |
|
| |
|
|
|
|
|
|
|
|
| Property and equipment, net |
|
|
1,162 |
|
|
|
1,408 |
|
| |
|
|
|
|
|
|
|
|
| Other Assets: |
|
|
|
|
|
|
|
|
| Investment in Perfecular
Inc. |
|
|
469,485 |
|
|
|
669,433 |
|
| Deposits |
|
|
24,726 |
|
|
|
24,726 |
|
| |
|
|
|
|
|
|
|
|
| Total Assets |
|
$ |
523,211 |
|
|
|
716,209 |
|
| |
|
|
|
|
|
|
|
|
| LIABILITIES AND
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
|
|
| Accounts payable and accrued
liabilities |
|
$ |
21,861 |
|
|
|
5,745 |
|
| Due to Perfecular Inc. |
|
|
273,663 |
|
|
|
177,749 |
|
| Income taxes payable |
|
|
800 |
|
|
|
800 |
|
| Other current liabilities |
|
|
4,400 |
|
|
|
– |
|
| Total
Current Liabilities |
|
|
300,724 |
|
|
|
184,294 |
|
| |
|
|
|
|
|
|
|
|
| Noncurrent Liabilities: |
|
|
|
|
|
|
|
|
| Deferred rent |
|
|
819 |
|
|
|
911 |
|
| Total Liabilities |
|
|
301,543 |
|
|
|
185,205 |
|
| |
|
|
|
|
|
|
|
|
| Commitments and Contingencies |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Stockholders' Equity: |
|
|
|
|
|
|
|
|
| Common stock, par value
$0.001 per share 75,000,000 shares authorized; 34,574,706 and shares issued and outstanding as of September 30, 2016
and December 31, 2015 |
|
|
34,575 |
|
|
|
34,575 |
|
| Additional paid-in capital |
|
|
713,239 |
|
|
|
713,239 |
|
| Accumulated deficit |
|
|
(526,146 |
) |
|
|
(216,810 |
) |
| Total
stockholders' equity |
|
|
221,668 |
|
|
|
531,004 |
|
| |
|
|
|
|
|
|
|
|
| Total Liabilities and Stockholders' Equity |
|
$ |
523,211 |
|
|
$ |
716,209 |
|
|
| Focus Universal, Inc. Condensed Statement of Operations |
FOCUS
UNIVERSAL INC.
STATEMENTS
OF OPERATIONS
(UNAUDITED)
| |
|
Three Months |
|
|
Three Months |
|
|
Nine Months |
|
|
Nine Months |
|
| |
|
Ended |
|
|
Ended |
|
|
Ended |
|
|
Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
| |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
| Revenue |
|
$ |
– |
|
|
$ |
9,630 |
|
|
$ |
1,780 |
|
|
$ |
11,638 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of Revenue |
|
|
– |
|
|
|
2,025 |
|
|
|
2,700 |
|
|
|
5,750 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross Loss |
|
|
– |
|
|
|
7,605 |
|
|
|
(920 |
) |
|
|
5,888 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operation Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General and administrative |
|
|
6,461 |
|
|
|
16,050 |
|
|
|
39,455 |
|
|
|
43,775 |
|
| Professional fees |
|
|
18,896 |
|
|
|
28,370 |
|
|
|
72,726 |
|
|
|
69,203 |
|
| Total Operating Expenses |
|
|
25,357 |
|
|
|
44,420 |
|
|
|
112,181 |
|
|
|
112,978 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from Operations |
|
|
(25,357 |
) |
|
|
(36,815 |
) |
|
|
(113,101 |
) |
|
|
(107,090 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from investment in
Perfecular Inc. |
|
|
(78,562 |
) |
|
|
– |
|
|
|
(199,948 |
) |
|
|
– |
|
| Other income |
|
|
4,763 |
|
|
|
– |
|
|
|
4,763 |
|
|
|
10,000 |
|
| Other expense |
|
|
– |
|
|
|
(1,878 |
) |
|
|
(250 |
) |
|
|
(3,351 |
) |
| Total Other Income (Expense) |
|
|
(73,799 |
) |
|
|
1,878 |
|
|
|
(195,435 |
) |
|
|
6,649 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before income taxes |
|
|
(99,156 |
) |
|
|
(38,693 |
) |
|
|
(308,536 |
) |
|
|
(100,441 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income tax provision |
|
|
800 |
|
|
|
800 |
|
|
|
800 |
|
|
|
800 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Loss |
|
$ |
(99,956 |
) |
|
$ |
(39,493 |
) |
|
$ |
(309,336 |
) |
|
$ |
(101,241 |
) |
|