v3.5.0.2

Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2015	Sep. 30, 2015
Current Assets
Cash and cash equivalents	$ 110,160
Accounts receivable, net of allowance for bad debt of $7,300 at December 31, 2015	45,270	57,031
Inventories	206,801	210,579
Prepaid expenses	6,345	7,183
Total Current Assets	368,576	274,793
Property and Equipment
Tooling and machinery	540,671	558,706
Furniture and office equipment	124,025	128,163
Leasehold improvements	22,133	22,871
Total property and equipment	686,829	709,740
Less accumulated depreciation	(581,044)	(578,738)
Total property and equipment, net	105,785	131,002
Other Assets
Patents (net of accumulated amortization of $61,595 and $56,993)	57,716	53,041
Total assets	532,077	458,836
Current Liabilities
Bank line		74,663
Deferred income	13,034
Accounts payable and accrued expenses	59,986	109,712
Amounts due to related parties		30,000
Short term borrowings	300,000
Current portion of long term debts	25,683	35,795
Total Liabilities	398,703	250,170
Commitments
Stockholders' Equity
Preferred stock, $.0001 par value; 3,000,000 shares authorized; no issued and outstanding shares as of December 31, 2015 and September 30, 2015.
Common stock, $.0001 par value; 100,000,000 shares authorized; 84,304,627 issued and outstanding as of December 31, 2015 and September 30, 2015.	8,430	8,430
Additional paid-in capital	12,917,025	12,917,025
Accumulated deficit	(12,391,079)	(12,330,450)
Other comprehensive loss	(401,002)	(386,339)
Total Stockholders' Equity	133,374	208,666
Total Liabilities and Stockholders' Equity	$ 532,077	$ 458,836

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.

MEDICAL INTERNATIONAL TECHNOLOGY INC 10-Q