v3.6.0.2
Consolidated Balance Sheets - USD ($)
Nov. 30, 2016
Aug. 31, 2016
Current Assets    
Cash $ 336,407 $ 1,424,544
Accounts receivable - net 532,180 321,347
Inventory 540,042 286,804
Prepaid expenses 66,524 108,693
Total Current Assets 1,475,153 2,141,388
Property and equipment - net 3,635 4,423
Other Assets    
Due from franchisees 60,628 52,951
Intangible assets - net
Other 20,161 20,161
Total Other Assets 80,789 73,112
Total Assets 1,559,577 2,218,923
Current Liabilities    
Accounts payable and accrued liabilities 4,282,261 3,990,306
Current portion of convertible debt - net of discount ($0 and $320) 106,000 130,680
Current portion of demand debt - net of discount ($2,419 and $4,731) 1,767,837 1,991,996
Deferred revenue 145,012 157,513
Derivative liabilities 2,314,464 3,311,580
Total Current Liabilities 8,615,574 9,582,075
Long Term Liabilities    
Convertible debt - net of discount ($2,679,216 and $3,173,333) 680,784 186,667
Demand debt 1,709,500 1,709,500
Total Long Term Liabilities 2,390,284 1,896,167
Total Liabilities 11,005,858 11,478,242
Stockholders' Deficit    
Preferred stock
Common stock, par value $0.001; 500,000,000 shares authorized, 243,202,424 and 221,904,924 issued and outstanding 243,202 221,905
Additional paid in capital 22,579,583 22,298,089
Accumulated deficit (31,603,809) (31,118,452)
Total Stockholders' Deficit (8,768,727) (8,585,422)
Noncontrolling interest (677,554) (673,897)
Total Deficit (9,446,281) (9,259,319)
Total Liabilities and Stockholders' Deficit 1,559,577 2,218,923
Series A Convertible Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock 879 879
Total Deficit 879 879
Series B Convertible Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock 9,692 10,431
Total Deficit 9,692 10,431
Series C Convertible Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock 1,725 1,725
Total Deficit 1,725 1,725
Series D Convertible Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock 1 1
Total Deficit $ 1 $ 1

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v3.6.0.2
Consolidated Statements of Operations - USD ($)
3 Months Ended
Nov. 30, 2016
Nov. 30, 2015
Revenue    
Soup sales - net $ 1,010,665 $ 572,297
Franchise sales - net 101,431
Franchise royalties 38,501 47,934
Total revenue 1,049,166 721,662
Cost of sales 798,716 397,350
Gross profit 250,450 324,312
Operating expenses:    
General and administrative 1,099,175 714,284
Royalty 36,820 18,249
Total operating expenses 1,135,995 732,533
Loss from operations (885,545) (408,221)
Other income (expense)    
Interest expense (674,774) (100,660)
Gain on settlement of accounts payable - net 12,250 21,062
Gain (loss) on settlement of debt and accrued liabilities 61,939 (275,242)
Change in fair value of derivative liabilities 997,116 122,647
Total other expense 396,531 (232,193)
Net loss including non-controlling interest (489,014) (640,414)
Net income (loss) attributable to non-controlling interest (3,657) 25,202
Net loss attributable to Soupman (485,357) (665,616)
Net loss attributable to common stockholders $ (485,357) $ (665,616)
Net loss per share, basic & diluted $ (0.00) $ (0.01)
Weighted average shares outstanding, basic & diluted 231,095,217 72,277,520

Source

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Nov. 30, 2016
Nov. 30, 2015
Cash Flows From Operating Activities:    
Net loss $ (489,014) $ (640,414)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 788 1,239
Amortization of intangibles 1,367
Amortization of debt discount 496,749
Stock based compensation 28,472 50,000
Common stock issued for services 215,250 20,000
Common stock issued for inducement to settle debt 120,000
Change in fair market value of derivative liabilities (997,116) (122,647)
Gain on settlement of accounts payable, net (12,250) (21,062)
Loss (gain) on settlement of debt and accrued liabilities (61,939) 155,242
Due from others (115,000)
(Increase) decrease in:    
Accounts receivable - net (210,833) (95,434)
Accounts receivable - related party (5,414)
Inventory (253,238) 127,498
Prepaid expenses 42,169 3,324
Increase (decrease) in:    
Accounts payable and accrued liabilities 336,974 (158,832)
Accounts payable and accrued liabilities - related parties (30,851)
Deferred franchising revenue (12,501) 70,499
Net Cash Used in Operating Activities (916,489) (640,485)
Cash Flows From Investing Activities:    
Due from franchisee (7,677) (24,999)
Net Cash Used in Investing Activities (7,677) (24,999)
Cash Flows From Financing Activities:    
Proceeds from issuance of Series B preferred stock for cash 291,000
Obligation to issue shares of Series B for cash 158,800
Repayment of debt and accrued interest in cash (163,971) (169,338)
Net Cash Provided by (Used in) Financing Activities (163,971) 280,462
Net decrease in cash (1,088,137) (385,022)
Cash at beginning of year 1,424,544 611,354
Cash at end of year 336,407 226,332
Supplemental disclosures of cash flow information:    
Cash paid for interest 62,979
Supplemental disclosures of non-cash investing and financing activities:    
Debt and accrued interest converted to common stock 17,900
Debt and accrued interest converted to Series B Preferred Stock 102,369
Reclassification of accrued commissions to debt 12,500
Conversion of Series A preferred stock to common stock 3
Conversion of Series B Preferred Stock to common stock $ 10,250

Source