NEW BASTION DEVELOPMENT, INC. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - April 16, 2012

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EX-31 - EXHIBIT 31.1 - NEW BASTION DEVELOPMENT, INC.nbdi063011q_ex31z1.htm
10-Q - QUARTERLY REPORT ON FORM 10-Q - NEW BASTION DEVELOPMENT, INC.nbdi063011_10q.htm
XML - IDEA: XBRL DOCUMENT - NEW BASTION DEVELOPMENT, INC.R10.htm
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EXCEL - IDEA: XBRL DOCUMENT - NEW BASTION DEVELOPMENT, INC.Financial_Report.xls
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EX-32 - EXHIBIT 32 - NEW BASTION DEVELOPMENT, INC.nbdi063011q_ex32z1.htm
EX-31 - EXHIBIT 31.2 - NEW BASTION DEVELOPMENT, INC.nbdi063011q_ex31z2.htm
v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended 49 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (562,042) $ (117,147) $ (2,477,482)
Adjustment to reconcile net loss to net cash used in operating activities      
Stock-based compensation 71,666    124,226
Impairment loss on real estate 168,700    742,831
Impairment of property rights       65,308
Interest expense related to beneficial conversion feature    81,072 132,024
Bad debt expense       12,500
Loss on expiration of property rights       51,445
(Increase) decrease in assets      
Inventories       522,040
Prepaid expenses 11,050      
Increase (decrease) in liabilities      
Accounts payable (14,268) (598) 54,994
Accrued compensation and benefits 67,200    67,200
Accrued real estate taxes and penalties 6,419 14,074 6,419
Accrued expenses       84,390
Accrued interest payable 13,210 3,634 7,951
Net cash used in operating activities (238,065) (18,965) (606,154)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds received from sale of stock 230,000    429,050
Loan to related party       (12,500)
Partial payments on mortgage notes payable       (11,178)
Contributed capital       900
Advances from shareholders 15,000 17,915 17,748
Repayment of advances from shareholders (8,300) (9,230) (10,885)
Repayments of notes payable       (82,500)
Repayments of notes payable, related parties       (50,000)
Proceeds from Notes Payable    30,000 290,000
Proceeds from notes payable, related parties       50,000
Net cash provided by financing activities 236,700 38,685 620,635
NET INCREASE IN CASH AND CASH EQUIVALENTS (1,365) 19,720 14,481
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD   56   
CASH AND CASH EQUIVALENTS - END OF PERIOD 14,481 19,776 14,481
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Taxes paid         
Interest paid    4,917 30,275
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Real estate and mortgage payable and acquired in exchange for common stock       145,000
Common stock issued in exchange for future real estate       12,500
Property rights acquired in exchange for real estate       65,308
Acquisition of property in exchange for preferred stock       202,000
Acquisition of property in exchange for common stock       1,305,000
Conversion of note payable and accrued interest into common stock       54,723
Dividends converted or paid in common stock       46,539
Cancellation of stock based prepayments for properties       12,500
Acquisition of property for assumed mortgage and preferred stock issuance       400,000
Return of property for preferred stock and mortgage cancellation       200,000
Satisfaction of mortgage in exchange for property       100,000
Debt discount for Beneficial Conversion Feature values    56,250 66,159
Dividend on preferred stock 12,600 11,553 28,928
Debt discount for loan fee    $ 10,000 $ 10,000

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