Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATION (Tables)

v3.2.0.727
CONSOLIDATION (Tables)
6 Months Ended
May. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Consolidated Balance Sheet
  Avalanche International, Corp.   Smith and Ramsay Brands, LLC   Elimination   Consolidated
Current Assets:                              
Cash $ 546     $ 1,001     $ —       $ 1,547  
Accounts receivable   —         16,919       —         16,919  
Prepaids   6,395       —         —         6,395  
Prepaid stock for services   188,417       —         —         188,417  
Loan receivable   150,000       —         —         150,000  
Intercompany   284,728       —         284,728       —    
Total current assets   630,086       17,920       284,728       363,278  
Other assets   —         705       —         705  
Product license   —         54,000       —         54,000  
     Total assets $ 630,086     $ 72,625     $ 284,728     $ 417,983  
                               
Current Liabilities                              
Accounts payable and accrued expenses $ 75,420     $ 8,848     $ —       $ 84,268  
Accounts payable, related party   —         37,901       —         37,901  
Accrued interest   6,271       727       —         6,998  
Accrued compensation   1,000       2,647       —         3,647  
Due to related parties   3,532       1,360       —         4,892  
Derivative liability   444,783       —         —         444,783  
Convertible note payable, net of discount   84,178       —         —         84,178  
Loans payable   12,500       15,000       —         27,500  
Intercompany   —         284,728       284,728       —    
Total current liabilities   627,684       351,211       284,728       694,167  
     Total liabilities   627,684       351,211       284,728       694,167  
                               
Stockholders' Equity (Deficit)                              
      Preferred stock   29       —         —         29  
Common stock   5,553       —         —         5,553  
Additional paid-in capital   872,435       —         —         872,435  
Accumulated deficit   (875,615 )     (278,586 )     —         (1,154,201 )
Total stockholders’ equity (deficit)   2,402       (278,586 )     —         (276,184 )
      Total liabilities and stockholders’ equity $ 630,086     $ 72,625     $ 284,728     $ 417,983  
Schedule of Consolidated Statement of Operations
  Avalanche
International, Corp
  Smith and Ramsay Brands, LLC   Consolidated
Revenue $ —       $ 38,662     $ 38,662  
Cost of revenue   —         29,292       29,292  
Gross margin   —         9,370       9,370  
                       
Operating Expenses:                      
Advertising and marketing   1,750       4,614       6,364  
Salary expense   13,400       23,335       36,735  
Professional fees   56,493       —         56,493  
Stock for services   251,833       —         251,833  
General and administrative   22,853       169,821       192,674  
  Total operating expense   346,329       197,770       544,099  
                       
Net loss from operations   (346,329 )     (188,400 )     (534,729 )
                       
Other income (expense):                      
      Interest expense   (10,141 )     (714 )     (10,855 )
Interest expense – debt discount   (84,178 )     —         (84,178 )
Derivative expense   (301,309 )     —         (301,309 )
 Gain on derivative   182,776       —         182,776  
Total other expense   (212,852 )     (714 )     (213,566 )
Loss before income tax   (559,181 )     (189,114 )     (748,295 )
Provision for income taxes   —         —         —    
Net Loss $ (559181 )   $ (189114 )   $ (748295 )