-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FKHYuaxLJHFr/StKlIOTN+CdfjYUb3ic6U147/35Y8JwIKiLQA7pqmGFJ98rQKNE D2UCoJy/SWf/MtpEyW9H5A== 0001179350-08-000023.txt : 20080606 0001179350-08-000023.hdr.sgml : 20080606 20080606111102 ACCESSION NUMBER: 0001179350-08-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080605 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080606 DATE AS OF CHANGE: 20080606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDIZONE INTERNATIONAL INC CENTRAL INDEX KEY: 0000753772 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 870412648 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 002-93277-D FILM NUMBER: 08884688 BUSINESS ADDRESS: STREET 1: 144 BUENA VISTA CITY: STINSON BEACH STATE: CA ZIP: 94970 BUSINESS PHONE: 4158680300 MAIL ADDRESS: STREET 1: P.O. BOX 742 CITY: STINSON BEACH STATE: CA ZIP: 94970 FORMER COMPANY: FORMER CONFORMED NAME: MADISON FUNDING INC DATE OF NAME CHANGE: 19860413 8-K 1 f07unauditfinform8kfinal.htm MEDIZONE 6-05-08 FORM 8-K SECURITIES AND EXCHANGE COMMISSION



SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549



FORM 8-K



CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): June 5, 2008




MEDIZONE INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)



NEVADA

2-93277-D

87-0412648

(State or other jurisdiction

(Commission File Number)

(IRS Employer ID No.)

of incorporation)

 

 




1144 Buena Vista, P.O. Box 742, Stinson Beach, California 94970

(Address of principal executive office)



Registrant's telephone number, including area code: (415) 868-0300


Copies to:

John C. Thompson, Esq.

John C. Thompson, LLC

1371 East 2100 South, #202

Salt Lake City, Utah 84105

Phone: (801) 363-4854

Fax: (801) 606-2855




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 8.01 Other Information


Medizone International, Inc. (the “Company”) is filing unaudited financial statements for the year ended December 31, 2007 as an exhibit to this filing. The Company’s Common Stock is currently quoted under the symbol “MZEI.PK” on the Pink OTC Markets Inc. website at www.pinksheets.com with a "STOP" sign posted next to the quote because we are behind in our financial filings.  


The Company filed its annual report on Form 10-KSB for the year ended December 31, 2006 with the Securities and Exchange Commission on Tuesday, June 3, 2008. We are working towards completing and filing the rest of our past due filings as soon as possible.  While those filings are being prepared, management has been informed that if we file the unaudited year end financials for the year ended December 31, 2007 as an exhibit in this Current Report on Form 8-K, the “STOP” sign may be removed from our quote and replaced with a "Limited Information" designation.  Therefore, the unaudited financial information for fiscal year 2007 is attached hereto as an exhibit.


Management hopes that the audit of the 2007 fiscal year financial statements will be done by early July 2007.  The Company intends to prepare and file its annual report on Form 10-KSB for the year ended December 31, 2007 as soon thereafter as possible.


Item 9.01 Financial Statements and Exhibits


Exhibit 99 – Unaudited financial statements for the year ended December 31, 2007


SIGNATURES


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


Dated:  June 5, 2008


MEDIZONE INTERNATIONAL, INC.


By: /S/ Edwin G. Marshall

Edwin G. Marshall

Chief Executive Officer



 EX-99 2 f2007financialstatementsrev.htm MEDIZONE UNAUDITED 2007 FINANCIAL STATEMENTS U





MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Balance Sheet

 

 

 

 

 

 

ASSETS

 

 

 

 

 

December 31, 2007

CURRENT ASSETS

 

 

 

 

Cash

 

 

 $                                         - 

 

 

Total Current Assets

 

 

                  - 

 

 

 

 

 

 

PROPERTY AND EQUIPMENT (Net) (Notes 1 and 2)

 

                  - 

 

 

 

 

 

 

OTHER ASSETS

 

 

 

 

Receivable from affiliate, net (Note 1)

 

 

                  - 

 

 

Total Other Assets

 

 

                  - 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

 

 $                                         - 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

Accounts payable

 

 

 $                             710,902 

 

Due to shareholders (Note 7)

 

 

            14,266 

 

Stock deposits (Note 7)

 

 

          110,100 

 

Accrued expenses (Note 3)

 

 

     2,271,217 

 

Notes payable (Note 6)

 

 

        280,491 

 

 

Total Current Liabilities

 

 

     3,386,976 

 

 

 

 

 

 

CONTINGENT LIABILITIES (Note 4)

 

 

224,852 

 

 

 

 

 

 

 

 

Total Liabilities

 

 

     3,611,828 

 

 

 

 

 

 

STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

Common stock, 250,000,000 shares authorized of $0.001 par value

 

 

 

 161,170,387 shares issued and outstanding

 

        161,170 

 

Additional paid-in capital

 

 

   15,805,487 

 

Deficit accumulated during the development stage

 

  (19,578,485)

 

 

Total Stockholders' Equity (Deficit)

 

 

    (3,611,828)

 

 

 

 

 

 

 

 

 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 $                                        - 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC., AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Operations

 

 

 

 

 

 

 

 

From Inception

 

 

 

 

 

 

on January 31,

 

 

 

 

 For the Years Ended

 

1986 Through

 

 

 

 

 December 31,

 

December 31,

 

 

 

 

2007

 

2006

 

2007

 

 

 

 

 

 

 

 

 

REVENUES

 

$                        - 

 

$                        - 

 

$              133,349 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

Cost of sales

 

- 

 

- 

 

103,790 

 

Research and development

 

- 

 

- 

 

2,685,788 

 

General and administrative

 

260,100 

 

286,721 

 

15,042,126 

 

Expense on extension of warrants (Note 5)

 

- 

 

- 

 

1,866,857 

 

Bad debt expense

 

- 

 

- 

 

48,947 

 

Depreciation and amortization

 

- 

 

-

 

47,996 

 

 

Total Expenses

 

260,100 

 

286,721 

 

19,795,504 

 

 

 

 

 

 

 

 

 

 

 

Loss from Operations

 

(260,100)

 

(286,721)

 

(19,662,155)

 

 

 

 

 

 

 

 

 

OTHER INCOME (EXPENSES)

 

 

 

 

 

 

 

Minority interest in loss

 

- 

 

- 

 

26,091 

 

Other income

 

- 

 

- 

 

19,780 

 

Gain on sale of subsidiary (Note 1)

 

- 

 

- 

 

208,417 

 

Interest expense

 

(34,013)

 

(43,832)

 

(1,065,356)

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expenses)

 

(34,013)

 

(43,832)

 

(811,068)

 

 

 

 

 

 

 

 

 

LOSS BEFORE EXTRAORDINARY ITEMS

 

(294,113)

 

(330,553)

 

(20,473,223)

 

 

 

 

 

 

 

 

 

EXTRAORDINARY ITEMS

 

 

 

 

 

 

 

Lawsuit settlement (Note 4)

 

- 

 

- 

 

415,000 

 

Debt forgiveness (Note 4)

 

- 

 

- 

 

479,738 

 

 

 

 

 

 

 

 

 

 

 

Total Extraordinary Items

 

- 

 

- 

 

894,738 

 

 

 

 

 

 

 

 

 

NET LOSS

 

$           (294,113)

 

$           (330,553)

 

$        (19,578,485)

 

 

 

 

 

 

 

 

 

BASIC LOSS PER SHARE

 

$                 (0.00)

 

$                 (0.00)

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF

 

 

 

 

 

 

 COMMON SHARES OUTSTANDING

 

161,170,387 

 

161,170,387 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

Subscribed

 

 Capital

 

 Stage

Balance, January 31, 1986 (inception)

                 -   

 

 $            -   

 

 $            -   

 

 $                -   

 

 $                -   

 

 

 

 

 

 

 

 

 

 

Initial capitalization of Medizone -

 

 

 

 

 

 

 

 

 

 Nevada at $0.03 per share

     5,500,000

 

          5,500

 

                -

 

          150,128

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares issued in acquisition

 

 

 

 

 

 

 

 

 

 of Medizone - Delaware (Note 1)

    37,500,000

 

        37,500

 

                -

 

          (37,500)

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 rendered in July 1986 at $0.10

 

 

 

 

 

 

 

 

 

 per share

          50,000

 

               50

 

                -

 

             4,950

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued in conversion

 

 

 

 

 

 

 

 

 

 of warrants during 1986 at $0.10

 

 

 

 

 

 

 

 

 

 per share

     7,814,600

 

          7,815

 

                -

 

          773,645

 

                    -

 

 

 

 

 

 

 

 

 

 

Stock issuance costs

                   -

 

                 -

 

                -

 

        (105,312)

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1986

                   -

 

                 -

 

                -

 

                    -

 

         (796,068)

Balance, December 31, 1986

    50,864,600

 

        50,865

 

                -

 

          785,911

 

         (796,068)

 

 

 

 

 

 

 

 

 

 

Common stock issued upon exercise

 

 

 

 

 

 

 

 

 

 of warrants in January 1987 at $0.10

 

 

 

 

 

 

 

 

 

 per share

            2,600

 

                2

 

                -

 

                257

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for patent in

 

 

 

 

 

 

 

 

 

 March 1987 at $0.69 per share

     1,000,000

 

          1,000

 

                -

 

          692,750

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash in

 

 

 

 

 

 

 

 

 

 June 1987 at an average price of

 

 

 

 

 

 

 

 

 

 $0.16 per share

        950,000

 

             950

 

                -

 

          149,050

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 in June and July 1987 at an

 

 

 

 

 

 

 

 

 

 average price of $0.12 per share

        203,167

 

             203

 

                -

 

            24,314

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued through

 

 

 

 

 

 

 

 

 

 exercise of options in August 1987

 

 

 

 

 

 

 

 

 

 at $1.75 per share

        250,000

 

             250

 

                -

 

          437,250

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1987

                   -

 

                 -

 

                -

 

                    -

 

      (2,749,400)

Balance, December 31, 1987

    53,270,367

 

 $     53,270

 

 $            -   

 

 $    2,089,532

 

 $   (3,545,468)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1987

    53,270,367

 

 $     53,270

 

 $            -   

 

 $    2,089,532

 

 $   (3,545,468)

 

 

 

 

 

 

 

 

 

 

Common stock issued through exercise

 

 

 

 

 

 

 

 

 of options in January 1988 at $0.50

 

 

 

 

 

 

 

 

 

 per share

        200,000

 

             200

 

                -

 

            99,800

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash in

 

 

 

 

 

 

 

 

 

 September 1988 at $0.08 per share

     1,000,000

 

          1,000

 

                -

 

            79,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at an average price of $0.23

 

 

 

 

 

 

 

 

 

 per share

          35,000

 

               35

 

                -

 

             7,965

 

                    -

 

 

 

 

 

 

 

 

 

 

Additional capital contributed

                   -

 

                 -

 

                -

 

          174,126

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1988

                   -

 

                 -

 

                -

 

                    -

 

         (714,347)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1988

    54,505,367

 

        54,505

 

                -

 

       2,450,423

 

      (4,259,815)

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at an average price of $0.18 per

 

 

 

 

 

 

 

 

 

 Share

        261,889

 

             262

 

                -

 

            46,363

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash at

 

 

 

 

 

 

 

 

 

 an average price of $0.05 per share

     5,790,000

 

          5,790

 

                -

 

          285,710

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 and in lieu of outstanding debt at

 

 

 

 

 

 

 

 

 

 an average price of $0.12 per share

     4,749,532

 

          4,750

 

                -

 

          578,978

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued upon exercise

 

 

 

 

 

 

 

 

 

 of options at $0.16 per share

        375,000

 

             375

 

                -

 

            59,125

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1989

                   -

 

                 -

 

                -

 

                    -

 

         (862,051)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1989

    65,681,788

 

 $     65,682

 

 $            -   

 

 $    3,420,599

 

 $   (5,121,866)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1989

    65,681,788

 

 $     65,682

 

 $            -   

 

 $    3,420,599

 

 $   (5,121,866)

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.10 per share

        880,000

 

             880

 

                -

 

            87,120

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash at an

 

 

 

 

 

 

 

 

 

 average price of $0.04 per share

     4,250,000

 

          4,250

 

                -

 

          175,250

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 and in lieu of outstanding debt at

 

 

 

 

 

 

 

 

 

 an average price of $0.06 per share

     2,422,727

 

          2,423

 

                -

 

          137,577

 

                    -

 

 

 

 

 

 

 

 

 

 

Additional capital contributed

                   -

 

                 -

 

                -

 

          100,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1990

                   -

 

                 -

 

                -

 

                    -

 

         (606,309)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1990

    73,234,515

 

        73,235

 

                -

 

       3,920,546

 

      (5,728,175)

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash at an

 

 

 

 

 

 

 

 

 

 average price of $0.07 per share

     4,366,667

 

          4,366

 

                -

 

          305,634

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

At an average price of $0.17 per

 

 

 

 

 

 

 

 

 

Share

        425,000

 

             425

 

                -

 

            72,075

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued through

 

 

 

 

 

 

 

 

 

exercise of options at an average

 

 

 

 

 

 

 

 

 

price of $0.45 per share

        450,000

 

             450

 

                -

 

          204,050

 

                    -

 

 

 

 

 

 

 

 

 

 

Additional capital contributed

                   -

 

                 -

 

                -

 

             5,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1991

                   -

 

                 -

 

                -

 

                    -

 

      (1,220,152)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1991

    78,476,182

 

 $     78,476

 

 $            -   

 

 $    4,507,305

 

 $   (6,948,327)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1991

    78,476,182

 

 $     78,476

 

 $            -   

 

 $    4,507,305

 

 $   (6,948,327)

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.20 per share

        151,500

 

             152

 

                -

 

            30,148

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued in lieu of

 

 

 

 

 

 

 

 

 

 debt at $0.15 per share

        250,000

 

             250

 

                -

 

            37,250

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash at

 

 

 

 

 

 

 

 

 

 an average price of $0.16 per share

     2,702,335

 

          2,702

 

                -

 

          427,648

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued through

 

 

 

 

 

 

 

 

 

 exercise of options at $0.50

 

 

 

 

 

 

 

 

 

 per share

        250,000

 

             250

 

                -

 

          124,750

 

                    -

 

 

 

 

 

 

 

 

 

 

Additional capital contributed

                   -

 

                 -

 

                -

 

            81,100

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1992

                   -

 

                 -

 

                -

 

                    -

 

         (649,941)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1992

    81,830,017

 

        81,830

 

                -

 

       5,208,201

 

      (7,598,268)

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at an average price of $0.10

 

 

 

 

 

 

 

 

 

 per share

     5,347,219

 

          5,347

 

                -

 

          542,859

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash at

 

 

 

 

 

 

 

 

 

 an average price of $0.18 per share

     1,471,666

 

          1,472

 

                -

 

          269,528

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for

 

 

 

 

 

 

 

 

 

 at $0.10 per share

                   -

 

                 -

 

         2,619

 

          259,296

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1993

                   -

 

                 -

 

                -

 

                    -

 

      (1,598,342)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1993

    88,648,902

 

 $     88,649

 

 $       2,619

 

 $    6,279,884

 

 $   (9,196,610)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1993

    88,648,902

 

 $     88,649

 

 $  2,619

 

 $    6,279,884

 

 $   (9,196,610)

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.10 per share

     1,431,590

 

          1,431

 

                -

 

          141,727

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for at

 

 

 

 

 

 

 

 

 

 $0.10 per share

                   -

 

                 -

 

         9,552

 

          945,682

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for as

 

 

 

 

 

 

 

 

 

 cancellations of indebtedness at

 

 

 

 

 

 

 

 

 

 $0.10 per share

                   -

 

                 -

 

            417

 

            41,234

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for as

 

 

 

 

 

 

 

 

 

 cancellation of indebtedness at

 

 

 

 

 

 

 

 

 

 $0.18 per share

                   -

 

                 -

 

        11,250

 

       2,022,379

 

                    -

 

 

 

 

 

 

 

 

 

 

Issuance of subscribed stock

    10,384,900

 

        10,385

 

      (10,385)

 

                    -

 

                    -

 

 

 

 

 

 

 

 

 

 

Issuance of shares in recognition

 

 

 

 

 

 

 

 

 

 of disparity in purchase price in

 

 

 

 

 

 

 

 

 

 Offering

     1,125,834

 

          1,126

 

                -

 

            (1,126)

 

                    -

 

 

 

 

 

 

 

 

 

 

Prior period adjustment

                   -

 

                 -

 

                -

 

                    -

 

          219,422

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1994

                   -

 

                 -

 

                -

 

                    -

 

      (1,126,315)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1994

  101,591,226

 

 $   101,591

 

 $     13,453

 

 $    9,429,780

 

 $ (10,103,503)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1994

  101,591,226

 

 $   101,591

 

 $13,453

 

 $    9,429,780

 

 $ (10,103,503)

 

 

 

 

 

 

 

 

 

 

Redeemable common shares

 

 

 

 

 

 

 

 

 

 converted to common stock

        200,000

 

             200

 

                -

 

            39,800

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.10 per share

     2,050,000

 

          2,050

 

                -

 

          202,950

 

                    -

 

 

 

 

 

 

 

 

 

 

Issuance of subscribed stock

    17,524,860

 

        17,524

 

      (17,524)

 

                    -

 

                    -

 

 

 

 

 

 

 

 

 

 

Cancellation of common shares

   (1,242,727)

 

        (1,242)

 

                -

 

          (70,563)

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for at

 

 

 

 

 

 

 

 

 

 $0.10 per share

                   -

 

                 -

 

         9,118

 

          902,707

 

                    -

 

 

 

 

 

 

 

 

 

 

Prior period adjustment

                   -

 

                 -

 

                -

 

                    -

 

            71,806

 

 

 

 

 

 

 

 

 

 

Additional capital contributed

                   -

 

                 -

 

                -

 

            50,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1995

                   -

 

                 -

 

                -

 

                    -

 

      (1,081,027)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1995

  120,123,359

 

      120,123

 

         5,047

 

     10,554,674

 

    (11,112,724)

 

 

 

 

 

 

 

 

 

 

Common stock issued for cash

 

 

 

 

 

 

 

 

 

 at $0.10 per share

        100,000

 

             100

 

                -

 

             9,900

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

At $0.10 per share

     1,415,875

 

          1,416

 

                -

 

          140,171

 

                    -

 

 

 

 

 

 

 

 

 

 

Issuance of subscribed stock

     8,412,379

 

          8,413

 

        (8,413)

 

                    -

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for

 

 

 

 

 

 

 

 

 

 at $0.11 per share

                   -

 

                 -

 

         6,456

 

          718,991

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1996

                   -

 

                 -

 

                -

 

                    -

 

      (1,329,395)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1996

  130,051,613

 

 $   130,052

 

 $       3,090

 

 $   11,423,736

 

 $ (12,442,119)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

Subscribed

 

 Capital

 

 Stage

Balance, December 31, 1996

  130,051,613

 

 $   130,052

 

 $  3,090

 

 $   11,423,736

 

 $ (12,442,119)

 

 

 

 

 

 

 

 

 

 

Issuance of subscribed stock

     3,089,680

 

          3,090

 

        (3,090)

 

                    -

 

                    -

 

 

 

 

 

 

 

 

 

 

Common shares subscribed for

 

 

 

 

 

 

 

 

 

 at $0.07 per share

                   -

 

                 -

 

         5,714

 

          394,287

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.10 per share

     3,746,336

 

          3,746

 

                -

 

          370,886

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1997

                   -

 

                 -

 

                -

 

                    -

 

         (775,559)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1997

  136,887,629

 

      136,888

 

         5,714

 

     12,188,909

 

    (13,217,678)

 

 

 

 

 

 

 

 

 

 

Common stock issued through

 

 

 

 

 

 

 

 

 

 exercise of warrants at $0.07

 

 

 

 

 

 

 

 

 

 per share

        857,142

 

             857

 

                -

 

            59,143

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued in lieu of

 

 

 

 

 

 

 

 

 

 debt at $0.05 per share

        864,747

 

             865

 

                -

 

            42,372

 

                    -

 

 

 

 

 

 

 

 

 

 

Issuance of subscribed stock

     5,714,286

 

          5,714

 

        (5,714)

 

                    -

 

                    -

 

 

 

 

 

 

 

 

 

 

Cancellation of common shares

      (630,000)

 

           (630)

 

                -

 

                630

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.05 per share

     3,465,000

 

          3,465

 

                -

 

          169,786

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.09 per share

        750,000

 

             750

 

                -

 

            63,785

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued in lieu of

 

 

 

 

 

 

 

 

 

 debt at $0.09 per share

        967,630

 

             967

 

                -

 

            82,214

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.08 per share

          50,000

 

               50

 

                -

 

             3,700

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1998

                   -

 

                 -

 

                -

 

                    -

 

         (565,761)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 1998

  148,926,434

 

 $   148,926

 

 $            -   

 

 $   12,610,539

 

 $ (13,783,439)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

Subscribed

 

 Capital

 

 Stage

Balance, December 31, 1998

  148,926,434

 

 $   148,926

 

 $            -   

 

 $   12,610,539

 

 $ (13,783,439)

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.07 per share

          25,000

 

               25

 

                -

 

             1,725

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued through exercise

 

 

 

 

 

 

 

 

 of warrants at $0.07 per share

        936,507

 

             937

 

                -

 

            64,618

 

                    -

 

 

 

 

 

 

 

 

 

 

Additional expense for extension of

 

 

 

 

 

 

 

 

 

 warrants below market value

                   -

 

                 -

 

                -

 

          123,389

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 1999

                   -

 

                 -

 

                -

 

                    -

 

         (359,571)

Balance, December 31, 1999

  149,887,941

 

      149,888

 

                -

 

     12,800,271

 

    (14,143,010)

 

 

 

 

 

 

 

 

 

 

Common stock issued through

 

 

 

 

 

 

 

 

 

 exercise of warrants at $0.07 per share

     3,142,857

 

          3,143

 

                -

 

          216,857

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for debt at

 

 

 

 

 

 

 

 

 

 $0.11 per share

     2,020,000

 

          2,020

 

                -

 

          220,180

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for debt at

 

 

 

 

 

 

 

 

 

 $0.147 per share

          95,000

 

               95

 

                -

 

            13,905

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.175 per share

        350,000

 

             350

 

                -

 

            60,900

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for debt at

 

 

 

 

 

 

 

 

 

 $0.20 per share

          20,000

 

               20

 

                -

 

             3,980

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for debt at

 

 

 

 

 

 

 

 

 

 $0.55 per share

        100,000

 

             100

 

                -

 

            54,900

 

                    -

 

 

 

 

 

 

 

 

 

 

Cancellation of common stock

   (2,000,000)

 

        (2,000)

 

                -

 

             2,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.285 per share

        300,000

 

             300

 

                -

 

            85,200

 

                    -

 

 

 

 

 

 

 

 

 

 

Additional expense for extension of

 

 

 

 

 

 

 

 

 

 warrants below market value

                   -

 

                 -

 

                -

 

       1,743,468

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2000

                   -

 

                 -

 

                -

 

                    -

 

      (2,187,138)

Balance, December 31, 2000

  153,915,798

 

 $   153,916

 

 $            -   

 

 $   15,201,661

 

 $ (16,330,148)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2000

  153,915,798

 

 $   153,916

 

 $            -   

 

 $   15,201,661

 

 $ (16,330,148)

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.20 per share

        500,000

 

             500

 

                -

 

            99,500

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.15 per share

        200,000

 

             200

 

                -

 

            29,800

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.15 per share

        166,666

 

             167

 

                -

 

            24,818

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.18 per share

        555,555

 

             555

 

                -

 

            99,441

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2001

                   -

 

                 -

 

                -

 

                    -

 

         (716,054)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2001

  155,338,019

 

      155,338

 

                -

 

     15,455,220

 

    (17,046,202)

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.10 per share

     1,000,000

 

          1,000

 

                -

 

            99,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.10 per share

        230,000

 

             230

 

                -

 

            22,770

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for debt

 

 

 

 

 

 

 

 

 

 at $0.10 per share

        447,368

 

             447

 

                -

 

            44,290

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.10 per share

        250,000

 

             250

 

                -

 

            24,750

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.10 per share

        480,000

 

             480

 

                -

 

            47,520

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2002

                   -

 

                 -

 

                -

 

                    -

 

         (687,273)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2002

  157,745,387

 

 $   157,745

 

 $            -   

 

 $   15,693,550

 

 $ (17,733,475)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

Balance, December 31, 2002

  157,745,387

 

 $   157,745

 

 $            -   

 

 $   15,693,550

 

 $ (17,733,475)

 

 

 

 

 

 

 

 

 

 

Common stock issued in lieu of notes

 

 

 

 

 

 

 

 

 

 payable at $0.05 per share

        460,000

 

             460

 

                -

 

            22,540

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.05 per share

        400,000

 

             400

 

                -

 

            19,600

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.05 per share

        100,000

 

             100

 

                -

 

             4,900

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock issued for services

 

 

 

 

 

 

 

 

 

 at $0.05 per share

        100,000

 

             100

 

                -

 

             4,900

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.05 per share

        165,000

 

             165

 

                -

 

             8,085

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for cash at $0.05 per share

        200,000

 

             200

 

                -

 

             9,800

 

                    -

 

 

 

 

 

 

 

 

 

 

Common stock and warrants issued

 

 

 

 

 

 

 

 

 

 for services at $0.02 per share

     2,000,000

 

          2,000

 

                -

 

            38,000

 

                    -

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2003

                   -

 

                 -

 

                -

 

                    -

 

         (522,796)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2003

  161,170,387

 

      161,170

 

                -

 

     15,801,375

 

    (18,256,271)

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2004

                   -

 

                 -

 

                -

 

                    -

 

         (371,395)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2004

  161,170,387

 

     161,170

 

              -   

 

     15,801,375

 

    (18,627,666)

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2005

                   -

 

                 -

 

                -

 

                    -

 

         (326,153)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2005

  161,170,387

 

     161,170

 

              -   

 

     15,801,375

 

    (18,953,819)

 

 

 

 

 

 

 

 

 

 

Common stock warrants granted (Note 5)

-

 

-

 

-

 

2,756

 

-

 

 

 

 

 

 

 

 

 

 

Additional capital contributed (Note 5)

-

 

-

 

-

 

1,356

 

-

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2006

                   -

 

                 -

 

                -

 

                    -

 

         (330,553)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2006

  161,170,387

 

 $   161,170

 

 $            -   

 

 $   15,805,487

 

 $ (19,284,372)

 

 

 

 

 

 

 

 

 

 










MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

 

 

 

 

 

 

 

 

 

 Deficit

 

 

 

 

 

 

 

 

 

 Accumulated

 

 

 

 

 

 

 

 Additional

 

 During the

 

 Common Stock

 

 Paid-in

 

 Development

 

 Shares

 

 Amount

 

 Subscribed

 

 Capital

 

 Stage

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2006

  161,170,387

 

 $   161,170

 

 $            -   

 

 $   15,805,487

 

 $ (19,284,372)

 

 

 

 

 

 

 

 

 

 

Net loss for the year ended

 

 

 

 

 

 

 

 

 

 December 31, 2007

                   -

 

                 -

 

                -

 

                    -

 

         (294,113)

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2007

  161,170,387

 

 $   161,170

 

 $            -   

 

 $   15,805,487

 

 $ (19,578,485)

 

 

 

 

 

 

 

 

 

 









MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Cash Flows

 

 

 

 

 

 

 

 

 

From Inception

 

 

 

 

 

 

 

 

 

on January 31,

 

 

 

 

 

 For the Years Ended

 

1986 Through

 

 

 

 

 

 December 31,

 

December 31,

 

 

 

 

 

2007

 

2006

 

2007

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

Net loss

 

 

 $           (294,113)

 

 $           330,553)

 

 $      (19,578,485)

Adjustments to reconcile net loss to net cash

 

 

 

 

 

 

 used in operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

                     - 

 

           - 

 

            47,996 

 

Stock issued for services

 

 

                     - 

 

                 - 

 

       3,131,916 

 

Expense for extension of warrants below

 

 

 

 

 

 

 

 market value

 

 

                     - 

 

2,756 

 

       1,869,613 

 

Bad debt expense

 

 

                     - 

 

                 - 

 

            48,947 

 

Minority interest in loss

 

 

                     - 

 

                 - 

 

           (26,091)

 

Loss on disposal of assets

 

 

                     - 

 

                 - 

 

          693,752 

 

Gain on settlement of debt

 

 

                     - 

 

                 - 

 

         (188,510)

 

Gain on lawsuit settlement

 

 

                     - 

 

                 - 

 

         (415,000)

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

(Increase) in prepaid expenses and deposits

 

                     - 

 

                 - 

 

           (48,947)

 

Increase in accounts payable

 

 

             52,358 

 

             71,829 

 

       1,330,284 

 

Increase in accrued expenses

 

 

           241,718 

 

           214,439 

 

       2,694,240 

 

 

Net Cash Used by Operating Activities

 

           (37)

 

           (41,529)

 

    (10,440,285)

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

Organization costs

 

 

                     - 

 

                 - 

 

             (8,904)

 

Purchase of fixed assets

 

 

                     - 

 

                 - 

 

           (39,090)

 

 

Net Cash Used by Investing Activities

 

                     - 

 

                 - 

 

           (47,994)

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

Bank overdraft

 

 

                     - 

 

               (6,475)

 

              - 

 

Proceeds from lawsuit settlement

 

 

                     - 

 

                 - 

 

          415,000 

 

Principal payments on notes payable

 

 

                     - 

 

                 - 

 

         (192,774)

 

Cash received from notes payable

 

 

                     - 

 

                 - 

 

       1,129,518 

 

Advances from shareholders

 

 

               35 

 

               5,550 

 

            36,067 

 

Payment on shareholder advances

 

 

                     - 

 

           (10,458)

 

           (16,515)

 

Capital contributions

 

 

                     - 

 

                 1,356

 

          423,203 

 

Stock issuance costs

 

 

                     - 

 

                 - 

 

         (105,312)

 

Increase in minority interest

 

 

                     - 

 

                 - 

 

            14,470 

 

Increase in stock deposits

 

 

                     - 

 

             41,100 

 

            110,100 

 

Issuance of common stock for cash

 

 

                     - 

 

                 - 

 

       8,674,522 

 

 

Net Cash Provided by Financing Activities

 

             35 

 

             41,531 

 

     10,488,279 

NET INCREASE (DECREASE) IN CASH

 

 

           (2)

 

                2

 

                    - 

CASH AT BEGINNING OF PERIOD

 

 

2 

 

- 

 

                    - 

CASH AT END OF PERIOD

 

 

 $                          - 

 

 $                       2

 

 $                          - 








MEDIZONE INTERNATIONAL, INC. AND SUBSIDIARIES

(A Development Stage Company)

Consolidated Statements of Cash Flows (Continued)

 

 

 

 

 

 

 

 

 

From Inception

 

 

 

 

 

 

 

 

 

on January 31,

 

 

 

 

 

 For the Years Ended

 

1986 Through

 

 

 

 

 

 December 31,

 

December 31,

 

 

 

 

 

2007

 

2006

 

2007

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH PAID FOR:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 $                           -   

 

 $                     -   

 

 $                26,483

 

 

Income taxes

 

 

 $                           -   

 

 $                     -   

 

 $                          -  

 

 

 

 

 

 

 

 

 

 

NON-CASH FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock issued for services

 

 

 $                           -   

 

 $                     -   

 

 $           3,131,916

 

 

Stock issued for conversion of debt

 

 

 $                           -   

 

 $                     -   

 

 $           4,139,230

 

 

Stock issued for license agreement and patent

 $                           -   

 

 $                     -   

 

 $              693,752

 

 

 

 

 

 

 

 

 

 








 -----END PRIVACY-ENHANCED MESSAGE-----