Restatement (Tables)

3 Months Ended

Mar. 31, 2014

Common stock shares due and payable upon receipt of a salvage and recovery contract

Restatement

	31-Mar-14
	As Reported			Adjustments			As Restated
Total assets	$	171,884		$	-		$	171,884
Accounts payable and accrued expense	$	150,126		$	-		$	150,126
Convertible notes payable, net of discounts		140,906			(30,195	)		110,711
Convertible notes payable, related parties, net of discounts		21,958			11			21,969
Convertible notes payable, in default		251,300			-			251,300
Convertible notes payable, in default - related parties		153,500			-			153,500
Derivative liability		22,291			(22,291	)
Convertible notes payable, at fair value		-			172,940			172,940
Notes payable, in default		30,000			-			30,000
Notes payable, in default - related parties		7,500			-			7,500
Total liabilities		777,581			120,465			898,046
Preferred stock, $0.0001 par value - 50,000,000 shares authorized;
Series A preferred stock, $0.0001 par value - 7 shares authorized; 7 shares issued
and outstanding at March 31, 2014 and December 31, 2013		-			-			-
Series B preferred stock, $0.0001 par value - 60 shares authorized; 60 shares issued
and outstanding at March 31, 2014 and December 31, 2013		-			-			-
Common stock, $0.0001 par value - 950,000,000 shares authorized; 874,532,999 and
844,216,349 shares issued and outstanding at March 31, 2014		87,230			-			87,230
Additional paid-in capital		7,795,611			(50,000	)		7,745,611
Accumulated deficit		(8,488,538	)		(70,465	)		(8,559,003	)
Total stockholders' deficit		(605,697	)		(120,465	)		(726,162	)
Total liabilities and stockholders' deficit	$	171,884		$	-		$	171,884
	Three months ended March 31, 2014
	As reported			Adjustments			As restated
Revenue	$	-		$	-		$	-
Total operating expenses		312,804			-			312,804
Loss from operations		(312,804	)		-			(312,804	)
Other income (expense):
Interest expense		(161,762	)		(61,177	)		(222,939	)
Gain (loss) on change in fair value of derivatives		9,288			(9,288	)		-
Net loss	$	(465,278	)	$	(70,465	)	$	(535,743	)