v2.3.0.15

Balance Sheet (USD $)	Sep. 30, 2011	Dec. 31, 2010
Current assets
Cash	$ 5,865	$ 5,648
Accounts receivable	189,208	146,826
Prepaid expenses	25,757	4,858
Parts and Inventory	0	11,008
Total Current Assets	220,830	168,340
Property and equipment:	85,996	9,819
Total Property and Equipment	85,996	9,819
Investment in subsidiary	894,035	781,840
Total Assets	1,200,861	959,999
Current liabilities
Accounts payable	135,402	83,189
Other current liabilities	323,769
Accrued interest payable to related parties	132,517	99,197
Notes payable - other	91,148	383,574
Notes payable to related parties	226,447	477,336
Total current liabilities	909,283	1,043,296
Long term debt to related parties	1,123,226	1,057,477
Total liabilities	2,032,509	2,100,773
Stockholders' deficit:
Preferred stock: $.001 par value; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock: $.001 par value; 500,000,000 shares authorized; 402,532,297and 104,799,542 shares issued and outstanding at September 30, 2010 and December 31, 2010, respectively	390,197	176,900
Additional paid-in capital	21,618,183	21,441,852
Accumulated deficit	(22,840,028)	(22,759,526)
Total stockholders' deficit	(831,648)	(1,140,774)
Total liabilities and stockholders' deficit	$ 1,200,861	$ 959,999

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Subparagraph a

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

AvStar Aviation Group, Inc. 10-Q/A