XML 40 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Innovative Product Opportunities Inc. - Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss for the period $ (313,233) $ (14,713,856)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization 115 115
Bad debt 8,250  
Stock issued for services and salary 252,072 5,567,300
Loss on issuance of stock-based compensation   8,910,300
Accretion of debt discount 34,021 133,489
Changes in operating assets and liabilities:    
Increase in accounts receivable (13,217) (8,250)
Decrease in prepaid expenses 2,000  
Decrease in customer deposit   (65,000)
Increase in accounts payable and accrued liabilities 4,693 135,047
Decrease in accrued interest   (967)
Net Cash (used in) operating activities (25,299) (41,822)
Cash Flows From Financing Activities:    
Advances 18,346 3,500
Repayment of advances (419)  
Advances of related party 18,130 7,100
Repayment of advances by related party (10,251)  
Proceeds from notes payable   29,571
Net Cash provided by financing activities 25,806 29,571
Net change in cash 507 (1,651)
Cash, beginning of period (14) 1,994
Cash, end of period $ 493 $ 343
Supplemental cash flow information:    
Interest paid    
Taxes paid    
Supplemental schedule of non-cash investing and financing activities:    
Conversion of notes payable for common stock   $ 106,420
Debt discount recorded in connection with convertible notes   $ 357,750