v3.2.0.727

Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 802	$ 1,922
Restricted cash (Note 3)	20,630	4,554
Investments (Note 4)	50,000	50,000
GST refund receivable (Note 5)	19,907	7,349
Employee advances	176	189
Interest receivable	39	128
Prepaid expenses (Note 6)	11,354	12,209
Total Current Assets	102,908	76,351
Property and equipment, net of accumulated depreciation (Note 7)	7,729	9,521
Total Assets	110,637	85,872
Current Liabilities
Bank overdraft	22,107	6,175
Accounts payable and accrued liabilities	788,006	766,142
Indebtedness to related parties (Note 8)	121,525	78,174
Deposit from shareholder (Note 9)	50,000	50,000
Accrued interest (Note 10)	28,578	7,503
Notes payable (Note 10)	378,949	$ 355,326
Notes payable to related parties(Note 10)	20,043
Total Current Liabilities	1,409,208	$ 1,263,320
Total Liabilities	1,409,208	1,263,320
Stockholders' Deficit
Common stock, $.001 par value; 250,000,000 shares authorized 108,273,479 shares issued and 108,041,939 outstanding as of June 30, 2015, and 102,233,955 shares issued and 102,002,415 outstanding as of December 31, 2014, respectively (Note 11)	108,273	102,234
Additional paid-in capital	28,988,095	28,737,988
Stock payable	4,000	4,000
Accumulated deficit	(29,809,643)	(29,362,106)
Accumulated other comprehensive loss	(569,047)	(639,315)
Treasury stock, 231,540 shares as of June 30, 2015 and December 31, 2014 (Note 12)	(20,249)	(20,249)
Total Stockholders' Deficit	(1,298,571)	(1,177,448)
Total Liabilities and Stockholders' Deficit	$ 110,637	$ 85,872

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.

WORDLOGIC CORP 10-Q