Discontinued Operations - MAB-C (Tables)

6 Months Ended

Jun. 30, 2015

Discontinued Operations - Mab-c Tables

Schedule of Discontinued Operations Financial Statements

MABWE MINERALS INC.
(DBA FONON CORPORATION)
STATEMENTS OF DISCONTINUED OPERATIONS
(UNAUDITED)
	For the Three Months Ended June 30,											For the Six Months Ended June 30,
	2015		2014			Change ($)			Change (%)			2015		2014			Change ($)			Change (%)
REVENUE, NET	$	-	$	-		$	-			0	%	$	-	$	-		$	-			0	%
COST OF SALES		-		-			-			0	%		-		-			-			0	%
GROSS PROFIT		-		-			-			0	%		-		-			-			0	%
OPERATING EXPENSES
Salary expense and salary related costs		-		-			-			0	%		-		-			-			0	%
Professional, consulting and marketing fees		-		20,471			(20,471	)		-100	%		-		32,889			(32,889	)		-100	%
Extraction Cost		-		78,552			(78,552	)		-100	%		-		209,290			(209,290	)		-100	%
Site Development Cost		-		17,600			(17,600	)		-100	%		-		34,596			(34,596	)		-100	%
Selling, General and administrative		-		15,666			(15,666	)		-100	%		-		33,415			(33,415	)		-100	%
Depreciation		-		199			(199	)		-100	%		-		398			(398	)		-100	%
Total operating expenses		-		132,488			(132,488	)		-100	%		-		310,588			(310,588	)		-100	%
Loss from operations		-		(132,488	)		132,488			-100	%		-		(310,588	)		310,588			-100	%
OTHER INCOME (EXPENSE)
Interest Income (Expense)		-		(13,868	)		13,868			-100	%		-		(29,686	)		29,686			-100	%
Loss on Investment - W.G.B. Kinsey - Equity Method		-		-			-			0	%		-		(12,367	)		12,367			-100	%
Gain on deconsolidation, net of impairment of loan from MAB-C		-		-									-		-			-			0	%
Total other income (expense)		-		(13,868	)		13,868			-100	%		-		(42,053	)		42,053			-100	%
Income (loss) before income taxes		-		(146,356	)		146,356			-100	%		-		(352,641	)		352,641			-100	%
Income tax benefit		-		-			-			0	%		-		-			-			0	%
NET INCOME (LOSS)	$	-	$	(146,356	)	$	146,356			-100	%	$	-	$	(352,641	)	$	352,641			-100	%

MABWE MINERALS INC.

(DBA FONON CORPORATION)

BALANCE SHEETS FROM DISCONTINUED OPERATIONS

	(UNAUDITED)
	June 30, 2015		December 31, 2014
Assets of discontinued operations		-		-
Liabilities of discontinued operations		-		-