v2.4.0.6

Balance Sheets (USD $)	Apr. 30, 2013	Jul. 31, 2012
Current assets
Cash	$ 9,604	$ 1,050
Accounts receivable – related party	187,374	128,320
Inventory	187,306	115,213
Total current assets	384,284	244,583
Total assets	384,284	244,583
Current liabilities
Accounts payable and accrued liabilities	467,570	324,594
Accounts payable and accrued liabilities – related party	188,466	195,001
Provision for sales returns	11,000	2,000
Advances	88,143	86,040
Convertible notes payable, net	303,615	244,403
Advances from related parties	140,375	135,930
Total current liabilities	1,199,169	987,968
Total liabilities	1,199,169	987,968
Stockholders’ deficit
Common stock value	57,930	57,930
Additional paid-in capital	3,803,744	3,803,744
Accumulated other comprehensive income	47,181	47,181
Accumulated deficit	(4,708,826)	(4,629,191)
Total Vital Products, Inc. stockholders’ deficit	(798,971)	(719,336)
Noncontrolling interest	(15,914)	(24,049)
Total deficit	(814,885)	(743,385)
Total liabilities and deficit	384,284	244,583
Series A Preferred Stock
Stockholders’ deficit
Preferred stock value	$ 1,000	$ 1,000

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

Vital Products, Inc. 10-Q