10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

FORM 10-Q

[ X ] Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarter ended June 30, 2013

OR

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to ___________

Commission file number: 000-52227

START SCIENTIFIC, INC.

(Name of Small Business Issuer in Its Charter)

Delaware	20-4910418
(State or Other Jurisdiction of Incorporation or Organization)	(IRS Employer Identification No.)
6 Champion Trail
San Antonio, TX	78258
(Address of Principal Executive Offices)	(Zip Code)

(801) 816-2570

Issuer’s Telephone Number, Including Area Code

(Former name or former address and former fiscal year, if changed since last report.)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer,” and “smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer [  ]	Non-Accelerated Filer [  ]
Accelerated Filer [  ]	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d) of the Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes [ X] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date. As of July 25, 2013, the Company had outstanding 109,165,000 shares of common stock.

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PART I

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS REQUIRED BY FORM 10-Q

The Financial Statements of the Company are prepared as of June 30, 3013.

CONTENTS
Balance Sheets	4
Statements of Operations	5
Statements of Cash Flows	6
Notes to the Financial Statements	7

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START SCIENTIFIC, INC.
Balance Sheets
ASSETS
	June 30,			December 31,
	2013			2012
	(Unaudited)
CURRENT ASSETS
Cash and cash equivalents	$	1,735		$	90
Prepaid assets		22,645,000			22,645,000
Total Current Assets		22,646,735			22,645,090
OTHER ASSETS
Working interest in oil leases		2,560,000			2,560,000
Total Other Assets		2,560,000			2,560,000
TOTAL ASSETS	$	25,206,735		$	25,205,090
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	166,615		$	75,593
Accrued expenses		569,759			343,006
Notes payable, current portion		547,860			547,860
Notes payable - related parties, current portion		97,686			97,086
Total Current Liabilities		1,381,920			1,063,545
TOTAL LIABILITIES		1,381,920			1,063,545
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value; 100 shares authorized,
100 and -0- issued and outstanding, respectively		—			—
Common stock, $0.0001 par value; 500,000,000 shares authorized,
109,165,000 shares issued and outstanding		10,917			10,917
Additional paid-in-capital		30,052,509			30,052,509
Accumulated deficit		(6,238,611	)		(5,921,881	)
Total Stockholders' Equity		23,824,815			24,141,545
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	25,206,735		$	25,205,090
The accompanying notes are an integral part of these financial statements

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START SCIENTIFIC, INC.
Statements of Operations
(Unaudited)
	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
NET REVENUES	$	—		$	—		$	—		$	—
OPERATING EXPENSES
Salaries and consulting		87,500			304,336			175,000			346,336
Professional fees		55,387			47,445			104,942			51,707
Selling, general and administrative		115			29,293			245			29,403
Total Operating Expenses		143,002			381,074			280,187			427,446
LOSS FROM OPERATIONS		(143,002	)		(381,074	)		(280,187	)		(427,446	)
OTHER INCOME (EXPENSES)
Interest expense		(18,300	)		(45,714	)		(36,543	)		(66,479	)
Total Other Income (Expenses)		(18,300	)		(45,714	)		(36,543	)		(66,479	)
LOSS BEFORE INCOME TAXES		(161,302	)		(426,788	)		(316,730	)		(493,925	)
INCOME TAX EXPENSE		—			—			—			—
NET LOSS	$	(161,302	)	$	(426,788	)	$	(316,730	)	$	(493,925	)
BASIC AND DILUTED:
Net loss per common share	$	(0.00	)	$	(0.22	)	$	(0.00	)	$	(0.35	)
Weighted average shares outstanding		109,165,000			1,900,000			109,165,000			1,425,275
The accompanying notes are an integral part of these financial statements

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START SCIENTIFIC, INC.
Statements of Cash Flows
(Unaudited)
	For the Six Months Ended
	June 30,
	2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(316,730	)	$	(493,925	)
Adjustments to reconcile net loss to net
cash used by operating activities:
Stock based compensation		—			227,023
Debt issue costs		—			96,032
Amortization of debt discount		—			(46,032	)
Changes in operating assets and liabilities:
Accounts receivable		—			314
Prepaid expenses		—			(1,742	)
Accounts payable and accrued expenses		317,775			(146,045	)
Net Cash Provided (Used) by Operating Activities		1,045			(364,375	)
CASH FLOWS FROM INVESTING ACTIVITIES:		—			—
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sales of common stock		—			300,000
Proceeds from notes payable		—			100,000
Proceeds from notes payable - related parties		600			11,213
Payments on notes payable		—			(22,128	)
Payments on notes payable - related parties		—			(25,366	)
Net Cash Provided by Financing Activities		600			363,719
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	$	1,645		$	(656	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		90			721
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	1,735		$	65
SUPPLEMENTAL CASH FLOW INFORMATION
Cash Payments For:
Interest	$	14,857		$	1,369
Income taxes	$	—		$	—
The accompanying notes are an integral part of these financial statements

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START SCIENTIFIC, INC.

Notes to the Financial Statements

June 30, 2013

(Unaudited)

NOTE 1 BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited financial statements have been prepared by Start Scientific, Inc. (the "Company") pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2012. Operating results for the six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013.

NOTE 2 GOING CONCERN CONSIDERATIONS

The accompanying condensed financial statements have been prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As reported in its Annual Report on Form 10-K for the year ended December 31, 2012, the Company has incurred operating losses of $5,921,881 from inception of the Company through December 31, 2012. The Company’s accumulated deficit at June 30, 2013 was $6,238,611 and had a working capital deficit, continued losses, and negative cash flows from operations. These factors combined, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans to address and alleviate these concerns are as follows:

The Company’s management continues to develop a strategy of exploring all options available to it so that it can develop successful operations and have sufficient funds, therefore, as to be able to operate over the next twelve months. The Company is attempting to improve these conditions by way of financial assistance through issuances of additional equity and by generating revenues through sales of products and services. No assurance can be given that funds will be available, or, if available, that it will be on terms deemed satisfactory to management. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attain profitable operations. The accompanying condensed financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of these uncertainties.

NOTE 3 PREPAID ASSETS

On May 16, 2012, the Company entered into an agreement to acquire all of the outstanding shares of Carpathian Energy SRL from Standard Energy Holdings, LLC in exchange for 90 million shares of common stock of the Company.  The common stock was delivered by the Company to Standard Energy Holdings, LLC on December 5, 2012.  Carpathian is a Romanian limited liability company engaged in oil & gas exploration and development.  Pursuant to the terms of the agreement, amendments, and letters of understanding, the Company must deliver $5,000,000 to satisfy the agreement to be used to develop the oil & gas concessions held by Carpathian.  Also,

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START SCIENTIFIC, INC.

Notes to the Financial Statements

June 30, 2013

(Unaudited)

the ownership units of Carpathian have not yet been transferred.  Both of these conditions to the agreement have not yet been met.  The agreement is in default and is subject to an unwind provision that may be asserted by the Company or Carpathian.  Therefore the Company has a prepaid asset in the amount of $22,645,000 which consists of the market value of the 90,000,000 shares of its stock on the date of issuance ($22,500,000) and cash payments of $145,000 toward the development of the oil & gas assets.

NOTE 4 WORKING INTEREST IN OIL LEASES

On April 2, 2012, the Company entered into an agreement to acquire two separate one-fourth (1/4) working interests (“Working Interests”) in certain oil and gas leases covering the Board of Education No. 6 Well located in Yazoo County, Mississippi. The consideration granted by the Company in exchange for the Working Interests consisted of 10,000,000 shares of restricted common stock. The Company has recorded the working interests at $2,560,000 which consists of the market value of the 10,000,000 shares of stock on the date of issuance ($2,500,000) and cash payments of $60,000 toward the development of the interests.

NOTE 5 SUBSEQUENT EVENTS

The Company has evaluated subsequent events for the period of June 30, 2013 through the date the financial statements were issued, and concluded there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

You should read the following discussion of the company's financial condition and results of operations in conjunction with the audited financial statements and related notes included in the filing of the company’s latest annual 10-K. This discussion may contain forward-looking statements, including, without limitation, statements regarding our expectations, beliefs, intentions, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language. Actual results could differ materially from those projected in the forward looking statements. We caution you that Start Scientific’ business and financial performance is subject to substantial risks and uncertainties.

Overview

Prior to April 2012, we were a reseller of technology-related hardware and software, including laptops, desktops, networking devices, telecommunication systems and networks, servers and software. In April, 2012 in connection with the acquisition of two separate one-fourth (1/4) working interests in certain oil and gas leases located in Yazoo County, Mississippi, our principal business became the exploration, development, and production of oil and gas interests.

On May 16, 2012, the Company entered into an agreement to acquire all of the outstanding shares of Carpathian Energy SRL (hereafter, “Carpathian”), in exchange for 90,000,000 shares of restricted common stock of the Company (such transaction is hereafter referred to as the “Acquisition”). Carpathian is a Romanian limited liability company engaged in oil & gas exploration and development. Pursuant to the terms of agreement entered into in connection with the Acquisition, the former owners of Carpathian may rescind the Acquisition and reclaim the shares of Carpathian in the event that the Company does not invest at least $5 million toward development of Carpathian’s oil and gas assets.

Results of Operations

Following is our discussion of the relevant items affecting results of operations for the periods ended June 30, 2013 and 2012.

Revenues. The Company generated net revenues of $-0- for the three and six month periods ended June 30, 2013 and 2012. The lack of revenues is mainly the result of the change in our business model from a reseller of computer hardware and software to an oil and gas exploration and development company.

Salaries and Consulting Expenses. Salaries and consulting expenses consist of salaries and benefits, company paid payroll taxes and outside consulting expenses. Salaries and consulting expenses for the three month period ended June 30, 2013 were $87,500 compared to $304,336 during the second quarter of 2012. For the six months ended June 30, 2013, salaries and consulting expenses were $175,000 compared to $346,336 during the six months ended June 30, 2012. During the six months ended June 30, 2012 the company issued 10,500,000 stock options to officers and directors of the Company which resulted in compensation expense of $227,023 during that period. Also, based on the change in our business model, we are accruing for officers’ compensation and outside consultants to assist us in securing oil and gas interests for potential investment. We anticipate salaries expenses to increase in the future as our activity increases.

Professional Fees. Professional fees consist of legal and accounting fees associated with the preparation, audits and reviews of the Company’s financial statements. Professional fees for the three months ended June 30, 2013 were $55,387 compared to $47,445 during the second quarter of 2012. Professional fees for the six month period ended June 30, 2013 were $104,942 compared to $51,707 during the six months ended June 30, 2012. We anticipate that professional fees will increase in the future as we more fully develop our oil and gas business.

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Selling, General and Administrative Expenses. Selling, general and administrative expenses have been comprised of advertising; bad debts; occupancy and office expenses; travel and other miscellaneous administrative expenses. Selling, general and administrative expenses for the three months ended June 30, 2013 were $115 compared to $29,293 during the second quarter of 2012. Selling, general and administrative expenses for the six months ended June 30, 2013 were $245 compared to $29,403 during the six months ended June 30, 2012. We expect selling, general and administrative expenses to increase in the future.

Other Income (Expense). Other income and expenses for the three month period ended June 30, 2013 resulted in net other expense of $18,300 compared to $45,714 during the second quarter of 2012. We incurred net other expense of $36,543 for the six month period ended June 30, 2013 compared to $66,479 during the first six months of 2012. Other expenses incurred were comprised primarily of the amortization of the debt issue costs and interest expenses related to the promissory notes and other liabilities of the Company. We do not anticipate any major changes in other income and expenses in the near future.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements.

Personnel

Start Scientific has two full-time employees, and other project-based contract personnel that we utilize to carry out our business. We utilize contract personnel on a continuous basis, primarily in connection with service contracts which require a high level of specialization for one or more of the service components offered. We expect to hire full-time employees in the future.

Liquidity and Capital Resources

Since inception, the Company has financed its operations through a series of loans, credit accounts with hardware vendors, and the use of Company credit to procure goods and services. As of June 30, 2013, our primary source of liquidity consisted of $1,735 in cash and cash equivalents. We may seek to secure additional debt or equity capital to finance substantial business development initiatives or acquire additional oil and gas resources.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a smaller reporting company we are not required to provide this information.

ITEM 4. CONTROLS AND PROCEDURES

Management’s Report on Disclosure Controls and Procedures

The Securities and Exchange Commission defines the term “disclosure controls and procedures” to mean a Company's controls and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the issuer’s management, including its principal executive and

Table of Contents 10

principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. The Company maintains such a system of controls and procedures in an effort to ensure that all information which it is required to disclose in the reports it files under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified under the SEC's rules and forms and that information required to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding disclosure.

As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of the chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, the chief executive officer and chief financial officer concluded that the disclosure controls and procedures are designed to provide reasonable assurance of achieving the objectives of timely alerting them to material information required to be included in the Company’s periodic SEC reports and of ensuring that such information is recorded, processed, summarized and reported within the time periods specified. The Company’s chief executive officer and chief financial officer also concluded that the disclosure controls and procedures were effective as of the end of the period covered by this report to provide reasonable assurance of the achievement of these objectives.

Changes in Internal Control over Financial Reporting

There have been no significant changes in our internal controls over financial reporting that occurred during the second quarter ended June 30, 2013 that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

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PART II

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 1A. RISK FACTORS

As a smaller reporting company, we are not required to provide the information required by this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On February 29, 2012, in exchange for $100,000, the Company issued 200,000 shares of restricted common stock and a promissory note in the original principal amount of $100,000 (“Note”) to an investor. The Note matures on August 27, 2012 and carries a fixed interest payment at maturity of $25,000.

On March 1, 2012, the Company accepted the subscription of an investor for $300,000 in exchange for 1,200,000 shares of restricted common stock.

On April 2, 2012, the Company entered into an agreement to acquire two separate one-fourth (1/4) working interests (collectively, the “Working Interests”) in certain oil and gas leases covering the Board of Education No. 6 Well located in Yazoo County, Mississippi. The consideration granted by the Company in exchange for the Working Interests consisted of 10,000,000 shares of restricted common stock.

On May 4, 2012, pursuant to the Company’s 2012 Equity Incentive Plan (the "Plan") which Plan is attached as an exhibit to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 9, 2012, the Board approved the grant of 10,500,000 common stock purchase options to five individuals at a weighted average exercise price of $0.65 per share.

On May 16, 2012, the Company entered into an agreement to acquire all of the outstanding shares of Carpathian Energy SRL in exchange for 90,000,000 shares of restricted common stock of the Company. Carpathian is a Romanian limited liability company engaged in oil & gas exploration and development. Pursuant to the terms of the agreement, the former owners of Carpathian may rescind the Acquisition and reclaim the shares of Carpathian in the event that the Company does not invest at least $5 million toward development of Carpathian’s oil and gas assets. As of March 31, 2013, the conditions of the agreement had not been met; therefore, due to the potential rescinding of the agreement, the acquisition has not been recorded on the financial statements herein.

On June 12, 2012, the Company entered into a consulting agreement with JT Arco, LLC. a New Jersey-based Corporation. Pursuant to the terms of the Agreement the Company issued 500,000 restricted shares of its common stock.

On June 27, 2012, the Company entered into a consulting agreement with Morris Carlo White IV a Texas-based consultant. Pursuant to the terms of the Agreement the Company issued 65,000 restricted shares of its common stock.

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On August 1, 2012, the Company issued 5,000,000 shares of common stock of the Company to an officer of the Company for services pertaining to business development.

On August 15, 2012, the Company amended that certain consulting agreement with JT Arco, LLC. a New Jersey-based Corporation. Pursuant to the terms of the Addendum Agreement the Company issued an additional 500,000 restricted shares of its common stock.

On August 31, 2012, in exchange for $100,000, the Company issued a promissory note in the original principal amount of $100,000 (“Note”) to a lender. The Note matures on August 30, 2013 and carries an interest rate of 8% per annum payable on a quarterly basis.  The Note shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of Common Stock of the Company at a conversion price equal to $0.25 per share of Common Stock.

On September 7, 2012, in exchange for $200,000, the Company issued a promissory note in the original principal amount of $200,000 (“Note”) to a lender. The Note matures on September 6, 2013 and carries an interest rate of 8% per annum payable on a quarterly basis.  The Note shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of Common Stock of the Company at a conversion price equal to $0.25 per share of Common Stock.

On September 25, 2012, the Company entered into a consulting agreement with TEGA, LLC a Kentucky Limited Liability Company. Pursuant to the terms of the Agreement the Company issued 1,200,000 restricted shares of its common stock.

With respect to the securities issuances described above, No solicitations were made and no underwriting discounts were given or paid in connection with these transactions. The Company believes that the issuance of these securities as described above were exempt from registration with the Securities and Exchange Commission pursuant to Section 4(2) of the Securities Act of 1933.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. OTHER INFORMATION

Not applicable.

ITEM 5. EXHIBITS:

The following documents are filed as exhibits to this Form 10-Q:

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INDEX TO EXHIBITS

Exhibit Number	Title of Document
3.1	Certificate of Incorporation of Start Scientific, Inc., a Delaware corporation.(1)
3.2	Bylaws of Start Scientific, Inc., a Delaware corporation.(2)
31.1	Certification by Chief Financial Officer, George Edwards, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification by Chief Executive Officer, S. Arne D. Greaves, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification by Chief Financial Officer, George Edwards, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification by Chief Executive Officer, S. Arne D. Greaves, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

(1) Filed as an Exhibit to the Company’s Current Report on Form 8-k filed on November 23, 2011.

(2) Filed as an Exhibit to the Company’s Registration Statement on Form 10 SB12G, deemed effective by the Commission on January 17, 2007.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

START SCIENTIFIC, INC.

Date: August , 2013 BY: /S/ S. Arne D. Greaves________________

Arne D. Greaves

Chief Executive Officer

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EX-31.1

Exhibit 31.1

CERTIFICATION

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, George Edwards of Start Scientific, Inc. (the “Company”), certify that:

1. I have reviewed this 10-Q of the Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;

4. Together with the Company’s principal executive officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the Company's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the Company's internal control over financial reporting that occurred during the Company's most recent fiscal quarter (the Company's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting; and

5. The Company’s other certifying officers and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the Company's auditors and the audit committee of the Company's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company's internal control over financial reporting.

Date: August , 2013

/s/ George Edwards

George Edwards

Chief Financial Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Arne D. Greaves of Start Scientific, Inc. (the “Company”), certify that:

1. I have reviewed this 10-Q of the Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;

4. Together with the Company’s principal accounting and financial officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the Company's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the Company's internal control over financial reporting that occurred during the Company's most recent fiscal quarter (the Company's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting; and

5. The Company’s other certifying officers and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the Company's auditors and the audit committee of the Company's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company's internal control over financial reporting.

Date: August , 2013

/s/ Arne D. Greaves

Arne D. Greaves

Chief Executive Officer

EX-32.1

Exhibit 32.1

CERTIFICATION

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, George Edwards, Chief Financial Officer of Start Scientific, Inc. (the “Company”) certify that:

1. I have reviewed the quarterly report on Form 10-Q of the Company;

2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; and

3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the period presented in this report.

Date : August , 2013

/s/ George Edwards

George Edwards

Chief Financial Officer

EX-32.2

Exhibit 32.2

CERTIFICATION

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Arne D. Greaves, Chief Executive Officer of Start Scientific, Inc. (the “Company”) certify that:

1. I have reviewed the quarterly report on Form 10-Q of the Company;

2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; and

3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the period presented in this report.

Date: August , 2013

/s/ Arne D. Greaves

Arne D. Greaves

Chief Executive Officer

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Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Statement [Abstract]
NET REVENUES	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES
Salaries and consulting	87,500	304,336	175,000	346,336
Professional fees	55,387	47,445	104,942	51,707
Selling, general and administrative	115	29,293	245	29,403
Total Operating Expenses	143,002	381,074	280,187	427,446
LOSS FROM OPERATIONS	(143,002)	(381,074)	(280,187)	(427,446)
OTHER INCOME (EXPENSES)
Interest expense	(18,300)	(45,714)	(36,543)	(66,479)
Total Other Income (Expenses)	(18,300)	(45,714)	(36,543)	(66,479)
LOSS BEFORE INCOME TAXES	(161,302)	(426,788)	(316,730)	(493,925)
INCOME TAX EXPENSE
NET LOSS	$ (161,302)	$ (426,788)	$ (316,730)	$ (493,925)
BASIC AND DILUTED:
Net loss per common share	$ 0.00	$ (0.22)	$ 0.00	$ (0.35)
Weighted average shares outstanding	109,165,000	1,900,000	109,165,000	1,425,275

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NOTE 5. SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

NOTE 5. SUBSEQUENT EVENTS

NOTE 5 SUBSEQUENT EVENTS

The Company has evaluated subsequent events for the period of June 30, 2013 through the date the financial statements were issued, and concluded there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements.

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NOTE 1. BASIS OF FINANCIAL STATEMENT PRESENTATION

6 Months Ended

Jun. 30, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE 1. BASIS OF FINANCIAL STATEMENT PRESENTATION

NOTE 1 BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited financial statements have been prepared by Start Scientific, Inc. (the "Company") pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2012. Operating results for the six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013.

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NOTE 3. PREPAID ASSETS

6 Months Ended

Jun. 30, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

NOTE 3. PREPAID ASSETS

NOTE 3 PREPAID ASSETS

On May 16, 2012, the Company entered into an agreement to acquire all of the outstanding shares of Carpathian Energy SRL from Standard Energy Holdings, LLC in exchange for 90 million shares of common stock of the Company.  The common stock was delivered by the Company to Standard Energy Holdings, LLC on December 5, 2012.  Carpathian is a Romanian limited liability company engaged in oil & gas exploration and development.  Pursuant to the terms of the agreement, amendments, and letters of understanding, the Company must deliver $5,000,000 to satisfy the agreement to be used to develop the oil & gas concessions held by Carpathian.  Also, the ownership units of Carpathian have not yet been transferred.  Both of these conditions to the agreement have not yet been met.  The agreement is in default and is subject to an unwind provision that may be asserted by the Company or Carpathian.  Therefore the Company has a prepaid asset in the amount of $22,645,000 which consists of the market value of the 90,000,000 shares of its stock on the date of issuance ($22,500,000) and cash payments of $145,000 toward the development of the oil & gas assets.

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NOTE 3. PREPAID ASSETS (Details Narrative) (USD $)			15 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2013 Acquisition of Carpathian Energy SRL	May 16, 2012 Acquisition of Carpathian Energy SRL
Issue common stock for prepaid assets, shares			90,000,000
Minimum investment in development required				$ 5,000,000
Prepaid assets	22,645,000	22,645,000	22,645,000
Issue common stock for prepaid assets, amount			22,500,000
Cash payments toward the development of oil and gas assets			$ 145,000

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NOTE 4. WORKING INTEREST IN OIL LEASES

6 Months Ended

Jun. 30, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

NOTE 4. WORKING INTEREST IN OIL LEASES

NOTE 4 WORKING INTEREST IN OIL LEASES

On April 2, 2012, the Company entered into an agreement to acquire two separate one-fourth (1/4) working interests (“Working Interests”) in certain oil and gas leases covering the Board of Education No. 6 Well located in Yazoo County, Mississippi. The consideration granted by the Company in exchange for the Working Interests consisted of 10,000,000 shares of restricted common stock. The Company has recorded the working interests at $2,560,000 which consists of the market value of the 10,000,000 shares of stock on the date of issuance ($2,500,000) and cash payments of $60,000 toward the development of the interests.

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Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100	100
Preferred stock, shares issued	100	0
Preferred stock, shares outstanding	100	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	109,165,000	109,165,000
Common stock, shares outstanding	109,165,000	109,165,000

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Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (316,730)	$ (493,925)
Adjustments to reconcile net loss to net cash used by operating activities:
Stock based compensation	0	227,023
Debt issue costs	0	96,032
Amortization of debt discount	0	(46,032)
Changes in operating assets and liabilities:
Accounts receivable	0	314
Prepaid expenses	0	(1,742)
Accounts payable and accrued expenses	317,775	(146,045)
Net Cash Provided (Used) by Operating Activities	1,045	(364,375)
CASH FLOWS FROM INVESTING ACTIVITIES:	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sales of common stock	0	300,000
Proceeds from notes payable	0	100,000
Proceeds from notes payable - related parties	600	11,213
Payments on notes payable	0	(22,128)
Payments on notes payable - related parties	0	(25,366)
Net Cash Provided by Financing Activities	600	363,719
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,645	(656)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	90	721
CASH AND CASH EQUIVALENTS, END OF PERIOD	1,735	65
Interest	14,857	1,369
Income taxes	$ 0	$ 0

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Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 1,735	$ 90
Prepaid assets	22,645,000	22,645,000
Total Current Assets	22,646,735	22,645,090
OTHER ASSETS
Working interest in oil leases	2,560,000	2,560,000
Total Other Assets	2,560,000	2,560,000
TOTAL ASSETS	25,206,735	25,205,090
CURRENT LIABILITIES
Accounts payable	166,615	75,593
Accrued expenses	569,759	343,006
Notes payable, current portion	547,860	547,860
Notes payable - related parties, current portion	97,686	97,086
Total Current Liabilities	1,381,920	1,063,545
TOTAL LIABILITIES	1,381,920	1,063,545
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value; 100 shares authorized, 100 and -0- issued and outstanding, respectively	0	0
Common stock, $0.0001 par value; 500,000,000 shares authorized, 109,165,000 shares issued and outstanding	10,917	10,917
Additional paid-in-capital	30,052,509	30,052,509
Accumulated deficit	(6,238,611)	(5,921,881)
Total Stockholders' Equity	23,824,815	24,141,545
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 25,206,735	$ 25,205,090

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NOTE 4. WORKING INTEREST IN OIL LEASES (Details Narrative) (USD $)			15 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2013 Working interest in certain oil and gas leases covering the Board of Education No. 6 Well
Issue common stock for interest in working oil leases, shares			10,000,000
Working interest in oil leases	$ 2,560,000	$ 2,560,000	$ 2,560,000
Issue common stock for interest in working oil leases, amount			2,500,000
Cash payments toward the development of oil and gas assets			$ 60,000

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NOTE 2. GOING CONCERN CONSIDERATIONS

6 Months Ended

Jun. 30, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE 2. GOING CONCERN CONSIDERATIONS

NOTE 2 GOING CONCERN CONSIDERATIONS

The accompanying condensed financial statements have been prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As reported in its Annual Report on Form 10-K for the year ended December 31, 2012, the Company has incurred operating losses of $5,921,881 from inception of the Company through December 31, 2012. The Company’s accumulated deficit at June 30, 2013 was $6,238,611 and had a working capital deficit, continued losses, and negative cash flows from operations. These factors combined, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans to address and alleviate these concerns are as follows:

The Company’s management continues to develop a strategy of exploring all options available to it so that it can develop successful operations and have sufficient funds, therefore, as to be able to operate over the next twelve months. The Company is attempting to improve these conditions by way of financial assistance through issuances of additional equity and by generating revenues through sales of products and services. No assurance can be given that funds will be available, or, if available, that it will be on terms deemed satisfactory to management. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attain profitable operations. The accompanying condensed financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of these uncertainties.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2013	Jul. 25, 2013
Document And Entity Information
Entity Registrant Name	Start Scientific, Inc.
Entity Central Index Key	0001368761
Document Type	10-Q
Document Period End Date	Jun. 30, 2013
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		109,165,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2013