DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2016

Discontinued Operations Tables

Discontinued operations

As a result of the disposal of the business and the discontinuance of the eCigarette operations, the following chart reflects the results of the condensed consolidated financial statements as loss from discontinued operations as of March 31, 2016:

WHITE FOX VENTURES, INC.

(FORMERLY BREATHE ECIG CORP.)

CONDENSED CONSOLIDATED STATEMENTS OF DISCOUNTED OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2016 AND 2015

(UNAUDITED)

	March 31,
	2016			2015
REVENUE	$	19		$	-
COST OF GOODS SOLD		1,851			-
GROSS LOSS		(1,832	)		-
OPERATING EXPENSES
Research and development		-			530
Marketing, advertising and promotion		6,000			13,775
Rent		3,561			-
Salaries and related expenses, including stock-based compensation		10,911			16,501
Professional fees		-			831,524
Depreciation and amortization		-			3,254
General and administrative		1,407			22,572
Total operating expenses		21,879			888,156
Net loss before provision for income taxes		(23,711	)		(888,156	)
Provision for income taxes		-			-
Net loss from discontinued operations	$	(23,711	)	$	(888,156	)

WHITE FOX VENTURES, INC.

(FORMERLY BREATHE ECIG CORP.)

BALANCE SHEET FROM DISCONTINUED OPERATIONS

	March 31, 2016		December 31, 2015
Assets of discontinued operations	$	113,843		114,067
Liabilities of discontinued operations	$	278,190		232,771

WHITE FOX VENTURES, INC.
Loss on disposal of Breathe e-Cigs Corp. (subsidiary)
Inventory, at cost	$	494,768
Less valuation for inventory reserve		(380,925	)
Accounts receivable		14,817
Allowance for doubtful accounts		(14,817	)
Accounts payable and accrued expenses		(203,190	)
Value of stock paid in settlement (50,000,000 shares at par)		(50,000	)
Cash settlement payment		(25,000	)
Loss on disposal of operation	$	(164,347	)