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 September 30, 2012

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 [ ] 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 October 31, 2012, 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 September 30, 2012.

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.
(formerly Secure Netwerks, Inc.)
Balance Sheets
ASSETS
	September 30,			December 31,
	2012			2011
	(Unaudited)
CURRENT ASSETS
Cash and cash equivalents	$	901		$	721
Accounts receivable, net		—			2,114
Prepaid assets		206,742			—
Total Current Assets		207,643			2,835
TOTAL ASSETS	$	207,643		$	2,835
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable	$	51,063		$	64,646
Accrued expenses		332,555			268,535
Notes payable, current portion		464,722			61,850
Notes payable - related parties, current portion		80,024			93,577
Total Current Liabilities		928,364			488,608
TOTAL LIABILITIES		928,364			488,608
STOCKHOLDERS' DEFICIT
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,
9,165,000 and 500,000 shares issued and outstanding, respectively		917			50
Additional paid-in-capital		3,813,880			24,950
Accumulated deficit		(4,535,518	)		(510,773	)
Total Stockholders' Deficit		(720,721	)		(485,773	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	207,643		$	2,835
The accompanying notes are an integral part of these financial statements

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START SCIENTIFIC, INC.
(formerly Secure Netwerks, Inc.)
Statements of Operations
(Unaudited)
	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
NET REVENUES
Product revenue	$	—		$	1,191		$	—		$	28,296
Service revenue		—			1,800						1,800
Total Net Revenues		—			2,991			—			30,096
OPERATING EXPENSES
Cost of sales - product		—			1,041			—			23,386
Cost of sales - service		—			800			—			800
Salaries and consulting		3,400,274			—			3,746,610			2,298
Professional fees		85,907			5,492			137,614			23,329
Selling, general and administrative		3,672			237			33,075			7,523
Total Operating Expenses		3,489,853			7,570			3,917,299			57,336
LOSS FROM OPERATIONS		(3,489,853	)		(4,579	)		(3,917,299	)		(27,240	)
OTHER INCOME (EXPENSES)
Interest expense		(40,967	)		(8,642	)		(107,446	)		(27,074	)
Total Other Income (Expenses)		(40,967	)		(8,642	)		(107,446	)		(27,074	)
LOSS BEFORE INCOME TAXES		(3,530,820	)		(13,221	)		(4,024,745	)		(54,314	)
INCOME TAX EXPENSE		—			—			—			—
NET LOSS	$	(3,530,820	)	$	(13,221	)	$	(4,024,745	)	$	(54,314	)
BASIC AND DILUTED:
Net loss per common share	$	(1.71	)	$	(0.03	)	$	(1.34	)	$	(0.11	)
Weighted average shares outstanding		2,061,953			500,000			3,008,668			500,000
The accompanying notes are an integral part of these financial statements

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START SCIENTIFIC, INC.
(formerly Secure Netwerks, Inc.)
Statements of Cash Flows
(Unaudited)
	For the Nine Months Ended
	September 30,
	2012			2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(4,024,745	)	$	(54,314	)
Adjustments to reconcile net loss to net
cash used by operating activities:
Bad debt expense		1,800			—
Stock based compensation		3,439,797			—
Debt issue costs		94,048			—
Amortization of debt discount		(19,048	)		—
Changes in operating assets and liabilities:
Accounts receivable		314			3,065
Prepaid expenses		(206,742	)		—
Loans receivable		—			3,608
Accounts payable and accrued expenses		50,437			36,160
Net Cash Used by Operating Activities		(664,139	)		(11,481	)
CASH FLOWS FROM INVESTING ACTIVITIES:		—			—
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sales of common stock		300,000			—
Proceeds from notes payable		400,000			6,000
Proceeds from notes payable - related parties		11,813			—
Payments on notes payable		(22,128	)		—
Payments on notes payable - related parties		(25,366	)		—
Net Cash Provided by Financing Activities		664,319			6,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	$	180		$	(5,481	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		721			6,019
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	901		$	538
SUPPLEMENTAL CASH FLOW INFORMATION
Cash Payments For:
Interest	$	2,044		$	2,686
Income taxes	$	—		$	—
Non-cash financing activity:
Preferred stock issued for conversion of debt				$	25,000
The accompanying notes are an integral part of these financial statements

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START SCIENTIFIC, INC.

Notes to the Financial Statements

September 30, 2012

(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 filed on April 16, 2012. Operating results for the nine months ended September 30, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012.

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, 2011, the Company has incurred operating losses of $510,773 from inception of the Company through December 31, 2011. The Company’s stockholders’ deficit at September 30, 2012 was $720,721 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 PREFERRED STOCK AND COMMON STOCK

On February 29, 2012, 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 in exchange for $100,000. The Note matured on August 27, 2012 and carries a fixed interest payment at maturity of $25,000. As part of the note issuance, the Company recorded debt issue costs of $50,000 and a discount on the note of $19,048. These amounts are being amortized over the 6 month term of the note. As of the date of this report, the Note has not been repaid.

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START SCIENTIFIC, INC.

Notes to the Financial Statements

September 30, 2012

(Unaudited)

NOTE 3 PREFERRED STOCK AND COMMON STOCK (Continued)

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 which were issued subsequent to September 30, 2012. As of September 30, 2012, the conditions of the agreement had not been met; therefore the transaction has not been recorded on the financial statements herein.

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 which were issued subsequent to September 30, 2012. 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 September 30, 2012, the conditions of the agreement had not been met; therefore, due to the potential rescinding of the agreement, the transaction 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.

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.

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START SCIENTIFIC, INC.

Notes to the Financial Statements

September 30, 2012

(Unaudited)

NOTE 3 PREFERRED STOCK AND COMMON STOCK (Continued)

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.

NOTE 4 SUBSEQUENT EVENTS

The Company has evaluated subsequent events for the period of September 30, 2012 through the date the financial statements were issued, and concluded there were no other events or transactions, other than the stock issuances described above, 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 September 30, 2012 and 2011.

Revenues. The Company generated net revenues of $-0- for the three month period ended September 30, 2012 compared to $2,991 in net revenues for the third quarter of 2011. During the nine months ended September 30, 2012 and 2011, we generated $-0- and $30,096, respectively, in net revenues from software and hardware product resales and equipment leasing. The decrease in 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.

Cost of Sales. Cost of sales for the three month period ended September 30, 2012 was $-0-, compared to $1,841 during the third quarter of 2011. For the nine months ended September 30, 2012, cost of sales was $-0- compared to $24,186 during the nine months ended September 30, 2011. The decrease is mainly the result of decreased sales and the change in our business model as discussed above.

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 September 30, 2012 were $3,400,274 compared to $-0- during the third quarter of 2011. During the nine months ended September 30, 2012, salaries and consulting expenses were $3,746,610 compared to $2,298 during the nine months ended September 30, 2011. The increase is mainly the result of the issuance of 7,265,000 shares of common stock to an officer and outside consultants of the Company. This issuance resulted in salaries and consulting expenses of $2,985,750 during the nine months ended September 30, 2012. 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.

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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 month period ended September 30, 2012 were $85,907 compared to $5,492 during the third quarter of 2011. For the nine months ended September 30, 2012, professional fees were $137,614 compared to $23,329 during the nine months ended September 30, 2011. We anticipate that professional fees will increase in the future as we more fully develop our oil and gas business.

Selling, General and Administrative Expenses. Selling, general and administrative expenses have been comprised of advertising; bad debts; occupancy and office expenses; equipment leases; travel and other miscellaneous administrative expenses. Selling, general and administrative expenses for the three month period ended September 30, 2012 were $3,672 compared to $237 during the third quarter of 2011. During the nine months ended September 30, 2012, selling, general and administrative expenses were $33,075 compared to $7,523 during the nine months ended September 30, 2011. 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 September 30, 2012 were $40,967 compared to $8,642 during the third quarter of 2011. We incurred net other expense of $107,446 for the nine month period ended September 30, 2012 compared to $27,074 during the first nine months of 2011. 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.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements.

Personnel

Start Scientific has no full-time employees, two part-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 September 30, 2012, our primary source of liquidity consisted of $901 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

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to

11

our management, to allow for timely decisions regarding required disclosure.

As of September 30, 2012, the end of our third quarter covered by this report, we carried out an evaluation, under the supervision of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, we concluded that our disclosure controls and procedures were effective as of the end of the period covered by this quarterly report. Our board of directors has only one member. We do not have a formal audit committee.

Management’s Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act, as amended). In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control include providing management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management’s authorization and recorded properly to permit the preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States. Our management assessed the effectiveness of our internal control over financial reporting as of September 30, 2012. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control-Integrated Framework. Our management has concluded that, as of September 30, 2012, our internal control over financial reporting is effective in providing reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with US generally accepted accounting principles.

This quarterly report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this quarterly report.

Inherent limitations on effectiveness of controls

Internal control over financial reporting has inherent limitations which include but is not limited to the use of independent professionals for advice and guidance, interpretation of existing and/or changing rules and principles, segregation of management duties, scale of organization, and personnel factors. Internal control over financial reporting is a process which involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements on a timely basis, however these inherent limitations are known features of the financial reporting process and it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Changes in Internal Control over Financial Reporting

There have been no significant changes in our internal controls over financial reporting that occurred during the third quarter ended September 30, 2012 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. As of September 30, 2012, the conditions of the agreement had not been met; therefore the transaction has not been recorded on the financial statements herein.

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 September 30, 2012, the conditions of the agreement had not been met; therefore, due to the potential rescinding of the agreement, the transaction 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: November 19, 2012	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: November 19, 2012

/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: November 19, 2012

/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: November 19, 2012

/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: November 19, 2012

/s/ Arne D. Greaves

Arne D. Greaves

Chief Executive Officer

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NOTE 4 SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2012

Subsequent Events [Abstract]

NOTE 4 SUBSEQUENT EVENTS

The Company has evaluated subsequent events for the period of September 30, 2012 through the date the financial statements were issued, and concluded there were no other events or transactions, other than the stock issuances described above, occurring during this period that required recognition or disclosure in its financial statements.

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NOTE 3 PREFERRED STOCK AND COMMON STOCK

9 Months Ended

Sep. 30, 2012

Equity [Abstract]

NOTE 3 PREFERRED STOCK AND COMMON STOCK

On February 29, 2012, 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 in exchange for $100,000. The Note matured on August 27, 2012 and carries a fixed interest payment at maturity of $25,000. As part of the note issuance, the Company recorded debt issue costs of $50,000 and a discount on the note of $19,048. These amounts are being amortized over the 6 month term of the note. As of the date of this report, the Note has not been repaid.

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 which were issued subsequent to September 30, 2012. As of September 30, 2012, the conditions of the agreement had not been met; therefore the transaction has not been recorded on the financial statements herein.

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 which were issued subsequent to September 30, 2012. 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 September 30, 2012, the conditions of the agreement had not been met; therefore, due to the potential rescinding of the agreement, the transaction 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.

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.

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Balance Sheets (USD $)	Sep. 30, 2012	Dec. 31, 2011
CURRENT ASSETS
Cash and cash equivalents	$ 901	$ 721
Accounts receivable, net		2,114
Prepaid assets	206,742
Total Current Assets	207,643	2,835
TOTAL ASSETS	207,643	2,835
CURRENT LIABILITIES
Accounts payable	51,063	64,646
Accrued expenses	332,555	268,535
Notes payable, current portion	464,722	61,850
Notes payable - related parties, current portion	80,024	93,577
Total Current Liabilities	928,364	488,608
TOTAL LIABILITIES	928,364	488,608
STOCKHOLDERS' DEFICIT
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, 9,165,000 and 500,000 shares issued and outstanding, respectively	917	50
Additional paid-in-capital	3,813,880	24,950
Accumulated deficit	(4,535,518)	(510,773)
Total Stockholders' Deficit	(720,721)	(485,773)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 207,643	$ 2,835

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NOTE 1 BASIS OF FINANCIAL STATEMENT PRESENTATION

9 Months Ended

Sep. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 filed on April 16, 2012. Operating results for the nine months ended September 30, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012.

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NOTE 2 GOING CONCERN CONSIDERATIONS

9 Months Ended

Sep. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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, 2011, the Company has incurred operating losses of $510,773 from inception of the Company through December 31, 2011. The Company’s stockholders’ deficit at September 30, 2012 was $720,721 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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Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2012	Dec. 31, 2011
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	9,165,000	500,000
Common stock, shares outstanding	9,165,000	500,000

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Document and Entity Information	9 Months Ended
	Sep. 30, 2012	Oct. 31, 2012
Document And Entity Information
Entity Registrant Name	Start Scientific, Inc.
Entity Central Index Key	0001368761
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Amendment Flag	true
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
Amendment Description	This amendment is for the sole purpose of filing the XBRL financial report
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2012

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Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Statement [Abstract]
Product revenue		$ 1,191		$ 28,296
Service revenue		1,800		1,800
Total Net Revenues		2,991		30,096
OPERATING EXPENSES
Cost of sales - product		1,041		23,386
Cost of sales - service		800		800
Salaries and consulting	3,400,274		3,746,610	2,298
Professional fees	85,907	5,492	137,614	23,329
Selling, general and administrative	3,672	237	33,075	7,523
Total Operating Expenses	3,489,853	7,570	3,917,299	57,336
LOSS FROM OPERATIONS	(3,489,853)	(4,579)	(3,917,299)	(27,240)
OTHER INCOME (EXPENSES)
Interest expense	(40,967)	(8,642)	(107,446)	(27,074)
Total Other Income (Expenses)	(40,967)	(8,642)	(107,446)	(27,074)
LOSS BEFORE INCOME TAXES	(3,530,820)	(13,221)	(4,024,745)	(54,314)
INCOME TAX EXPENSE
NET LOSS	$ (3,530,820)	$ (13,221)	$ (4,024,745)	$ (54,314)
BASIC AND DILUTED:
Net loss per common share	$ (1.71)	$ (0.03)	$ (0.13)	$ (0.11)
Weighted average shares outstanding	2,061,953	500,000	3,008,668	500,000

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NOTE 3 PREFERRED STOCK AND COMMON STOCK (Details Narrative) (USD $)	9 Months Ended				9 Months Ended	1 Months Ended	9 Months Ended	1 Months Ended	9 Months Ended							9 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 February 29, 2012 issuance of common shares and promissory note for cash	Feb. 29, 2012 February 29, 2012 issuance of common shares and promissory note for cash	Sep. 30, 2012 March 1, 2012 acceptance of common share subscription for cash	Oct. 31, 2012 April 2, 2012 agreement to acquire two one-fourth working interests in certain oil and gas leases	Sep. 30, 2012 May 4, 2012 Board approval of the grant of common stock purchase options to five individuals	Oct. 31, 2012 May 16, 2012 agreement to acquire all of the outstanding shares of Carpathian Energy SRL	Sep. 30, 2012 May 16, 2012 agreement to acquire all of the outstanding shares of Carpathian Energy SRL	Sep. 30, 2012 June 12, 2012 consulting agreement with JT Arco, LLC	Sep. 30, 2012 June 27, 2012 consulting agreement with Morris Carlo White IV	Sep. 30, 2012 August 1, 2012 issuance of shares to an officer for services pertaining to business development	Sep. 30, 2012 August 15, 2012 issuance of shares pursuant to terms of addendum agreement with JT Arco, LLC	Sep. 30, 2012 August 31, 2012 issuance of promissory note	Aug. 31, 2012 August 31, 2012 issuance of promissory note	Sep. 30, 2012 September 7, 2012 issuance of promissory note	Sep. 07, 2012 September 7, 2012 issuance of promissory note	Sep. 30, 2012 September 25, 2012 consulting agreement with Tega, LLC
Common shares issued			200,000		1,200,000	10,000,000		90,000,000		500,000	65,000	5,000,000	500,000					1,200,000
Original principal amount of note				$ 100,000											$ 100,000		$ 200,000
Cash received in exchange	664,319	6,000	100,000		300,000									100,000		200,000
Maturity date			Aug. 27, 2012											Aug. 30, 2013		Sep. 06, 2013
Fixed interest payment at maturity				25,000
Debt issue costs			50,000
Discount on note				19,048
Term of note			6 months
Options granted							10,500,000
Weighted average exercise price							$ 0.65
Minimum investment in development required									$ 5,000,000
Interest rate, note															8.00%		8.00%
Conversion price															$ 0.25		$ 0.25

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NOTE 2 GOING CONCERN CONSIDERATIONS (Details Narrative) (USD $)	Sep. 30, 2012	Dec. 31, 2011
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cumulative operating losses	$ (4,535,518)	$ (510,773)
Stockholders’ deficit	$ (720,721)	$ (485,773)

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Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,024,745)	$ (54,314)
Adjustments to reconcile net loss to net cash used by operating activities:
Bad debt expense	1,800
Stock based compensation	3,439,797
Debt issue costs	94,048
Amortization of debt discount	(19,048)
Changes in operating assets and liabilities:
Accounts receivable	314	3,065
Prepaid expenses	(206,742)
Loans receivable		3,608
Accounts payable and accrued expenses	50,437	36,160
Net Cash Used by Operating Activities	(664,139)	(11,481)
CASH FLOWS FROM INVESTING ACTIVITIES:
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sales of common stock	300,000
Proceeds from notes payable	400,000	6,000
Proceeds from notes payable - related parties	11,813
Payments on notes payable	(22,128)
Payments on notes payable - related parties	(25,366)
Net Cash Provided by Financing Activities	664,319	6,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	180	(5,481)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	721	6,019
CASH AND CASH EQUIVALENTS, END OF PERIOD	901	538
Cash Payments For:
Interest	2,044	2,686
Income taxes	0	0
Non-cash financing activity:
Preferred stock issued for conversion of debt		$ 25,000

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NOTE 2 GOING CONCERN CONSIDERATIONS (Policies)

9 Months Ended

Sep. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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, 2011, the Company has incurred operating losses of $510,773 from inception of the Company through December 31, 2011. The Company’s stockholders’ deficit at September 30, 2012 was $720,721 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.