v3.3.0.814

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Commissions
Services	$ 8,652	$ 40,144	$ 24,048	$ 97,463
Services- related party		$ 964		$ 1,227
Other revenues			$ 1,600
Total revenues	$ 8,652	$ 41,108	25,648	$ 98,690
Cost of revenues	1,206	5,624	3,207	19,211
Gross Profit	$ 7,446	35,484	22,441	79,479
Operating expenses:
General and administration		88,713	15,284	105,232
Consulting		403,374	59,440	620,256
Wages	$ 23,486	41,940	47,015	80,833
Professional fess	900	73,533	2,400	90,016
Total operating expenses	24,386	607,560	124,139	896,337
Income (Loss) from operations	(16,940)	(572,076)	(101,698)	(816,858)
Other income and (expenses):
Interest expense	(19,372)	(17,555)	(41,236)	(26,787)
Interest expense- derivative	(73,686)	(1,689,122)	(160,375)	(1,689,122)
Interest income	2,850	2,200	5,699	4,400
Gain/(Loss) on derivative adjustment	257,545	300,773	683,581	902,318
Total other income and (expenses)	167,337	(1,403,705)	487,669	(809,191)
Net loss before taxes	$ 150,397	$ (1,975,781)	$ 385,971	$ (1,626,049)
Tax provisions
Net loss after taxes	$ 150,397	$ (1,975,781)	$ 385,971	$ (1,626,049)
Other Comprehensive Income:
Unrealized (loss)/gain on available-for-sale securities		43,800	(4,000)	(34,200)
Other Comprehensive Income (Loss)	$ 150,397	$ (1,931,981)	$ 381,971	$ (1,660,249)
Basic & diluted loss per share	$ 0.02	$ (0.95)	$ 0.06	$ (0.86)
Weighted average shares outstanding	6,347,825	2,075,499	6,080,010	1,882,762

This item represents the tax effects occurring during the period which are related to the net unrealized gain (loss) resulting from changes in the fair [carrying] value during the period of available-for-sale securities. Such tax affects would have been charged or credited directly to other comprehensive income or to related components of shareholders' equity.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 20

-Section 45

-Paragraph 11

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e39076-109324

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563

Monster Arts Inc. 10-Q