Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 9 Months Ended 11 Months Ended 12 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Revenue, net   $ 0 $ 591,439  
Cost of revenue   0 384,424  
Gross profit   0 207,015  
Operating expenses:        
General and administrative   42,027 4,437,576  
Professional and consulting fees   344,429 681,135  
Total operating expenses   386,456 5,118,711  
Loss from operations   (386,456) (4,911,696)  
Other expense   0 3,345  
Loss before benefit from income taxes   (386,456) (4,915,041) $ 386,457
Benefit from income taxes   0 755,647 0
Net (loss) income   $ (386,456) $ (4,159,394) $ 386,456
Net loss per share, basic and diluted   $ (0.07) $ (0.75) $ (0.07)
Weighted average shares used to compute net loss per share, basic and diluted   5,289,136 5,520,801 5,289,136
CFFC Promotions, LLC [Member]        
Revenue, net $ 431,919     $ 709,468
Cost of revenue 344,714     533,628
Gross profit 87,205     175,840
Operating expenses:        
General and administrative 65,265     84,584
Bad debt expense 0     22,625
Professional and consulting fees 7,500     49,300
Depreciation and amortization 1,359     2,679
Total operating expenses 74,124     159,188
Net (loss) income 13,081     16,652
Hoosier Fight Club Promotions, LLC [Member]        
Revenue, net 192,987     172,315
Cost of revenue 137,548     115,010
Gross profit 55,439     57,305
Operating expenses:        
General and administrative 12,799     8,218
Professional and consulting fees 7,790     21,800
Depreciation and amortization 200     267
Total operating expenses 20,789     30,285
Net (loss) income 34,650     27,020
PUNCH DRUNK, INC [Member]        
Revenue, net 93,703     285,415
Cost of revenue 50,333     111,234
Gross profit 43,370     174,181
Operating expenses:        
General and administrative 26,944     127,111
Professional and consulting fees 9,400     27,780
Depreciation and amortization 5,610     9,183
Total operating expenses 41,954     164,074
Net (loss) income 1,416     10,107
BANG TIME ENTERTAINMENT, LLC [Member]        
Revenue, net 302,274     537,872
Cost of revenue 203,810     371,949
Gross profit 98,464     165,923
Operating expenses:        
General and administrative 15,500     17,924
Bad debt expense 0     6,500
Professional and consulting fees 7,500     26,791
Depreciation and amortization 142     595
Total operating expenses 23,142     51,810
Net (loss) income 75,322     114,113
V3 Fights [Member]        
Revenue, net 97,050     159,575
Cost of revenue 61,820     122,564
Gross profit 35,230     37,011
Operating expenses:        
General and administrative 18,015     35,845
Professional and consulting fees 9,540     28,210
Total operating expenses 27,555     64,055
Net (loss) income 7,675     (27,044)
Go Fight Net, Inc [Member]        
Revenue, net 339,790     496,233
Cost of revenue 230,774     318,587
Gross profit 109,016     177,646
Operating expenses:        
General and administrative 124,631     169,708
Professional and consulting fees 10,180     23,580
Depreciation and amortization 20,808     36,299
Total operating expenses 155,619     229,587
Net (loss) income (46,603)     (51,941)
Cagetix LLC [Member]        
Revenue, net 105,611     72,020
Operating expenses:        
Total operating expenses 21,748     34,102
Net (loss) income $ 83,863     $ 37,918