v3.8.0.1

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Net revenue
Food truck sales	$ 2,004,655	$ 2,392,342
Catering and special events	522,428	710,446
Licensing	37,406	547,233
Total revenues	2,564,489	3,650,021
Cost of sales
Food and beverages	733,452	899,847
Food truck expenses	1,162,176	2,050,453
Commissionary and kitchen expenses	265,936	417,846
Total cost of sales	2,161,565	3,368,146
Gross profit	402,924	281,875
Operating expenses
General and administrative	4,496,037	7,064,874
Selling costs	275,333	223,322
Consulting expenses - related parties	602,758	74,357
Depreciation	85,007	75,357
Bad debts	61,377	278,551
Impairment of assets	334,856
Total operating expenses	5,855,368	7,716,461
Net operating loss	(5,452,444)	(7,434,586)
Other income (expense)
Interest expense	(220,549)	(284,801)
Amortization of beneficial conversion feature	(80,096)	(109,378)
Amortization of deferred financing costs	(70,865)	(235,968)
Amortization of debt discount	(285,335)	(64,693)
Interest income		11,018
Other income from asset sale		450,000
Loss on settlement of debt	(37,213)
Loss on asset disposals		(43,800)
Total other income (expense)	(694,057)	(277,622)
Net loss before income taxes	(6,146,501)	(7,712,208)
Provision for income taxes
Net Loss	$ (6,146,501)	$ (7,712,208)
Basic and Diluted - Earnings (loss) Per Share	$ (0.31)	$ (0.50)
Basic and Diluted - Weighted Average Number of Shares Outstanding	19,817,821	15,524,236

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American Patriot Brands, Inc. 10-K