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Document and Entity Information
28 Months Ended
Mar. 31, 2013
Aug. 19, 2013
Document And Entity Information
Entity Registrant Name WINDAUS GLOBAL ENERGY INC.
Entity Central Index Key 0001439133
Document Type 10-Q
Document Period End Date Jun 30, 2013
Amendment Flag false
Current Fiscal Year End Date --12-31
Is Entity a Well-known Seasoned Issuer? No
Is Entity a Voluntary Filer? No
Is Entity's Reporting Status Current? Yes
Entity Filer Category Smaller Reporting Company
Entity Common Stock, Shares Outstanding 75,025,899
Document Fiscal Year Focus 2013
Document Fiscal Period Focus Q2
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Balance Sheets (Unaudited) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Statement of Financial Position [Abstract]
Cash $ 53,024 $ 4,022
Accounts receivable 95,006 24,933
Inventories 289,434 295,023
Prepaid expenses 60,748 77,717
Deferred Financing Costs 82,626   
TOTAL CURRENT ASSETS 580,838 401,695
Property and equipment, net of accumulated depreciation of $244,085, $202,303 and $44,495, respectively 410,467 487,942
Deposits 7,500 7,500
TOTAL ASSETS 998,805 897,137
Accounts payable 926,396 1,021,312
Accounts payable - related parties 51,152 41,705
Accrued liabilities 740,289 512,730
Deferred rent    61,098
Deferred revenues 36,616 102,428
Short Term Convertible Notes Payable, net of discount of $485,987 and $0 respectively 64,013   
Short term debt - related parties 187,500 253,000
Short term debt - third parties 689,750 499,750
Current maturities of note payable 443,604 351,453
TOTAL CURRENT LIABILITIES 3,139,320 2,843,476
Note payable, non-current 931,396 1,048,547
TOTAL LIABILITIES 4,070,716 3,892,023
Series A Convertible Preferred stock;$0 par value;500,000 shares authorized;0 and 83,053 shares issued and outstanding, respectively    740,000
Seed 1 Convertible Preferred stock; $0 par value; 35,000 shares authorized; 0 and 35,000 shares issued and outstanding, respectively    35,000
Seed 2 Convertible Preferred stock; $0 par value; 500,000 shares authorized; 0 and 463,908 shares issued and outstanding, respectively    1,521,353
Preferred stock, no par value, unlimited shares authorized; no shares issued and outstanding      
Common stock; $0.01 par value; 9,000,000 shares authorized;68,025,899 and 24,646,646 shares issued and outstanding, respectively 68,026 24,647
Additional paid in capital 4,733,399 320,233
Accumulated deficit (7,873,336) (5,636,119)
TOTAL STOCKHOLDERS' DEFICIT (3,071,911) (2,994,886)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 998,805 $ 897,137
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Balance Sheets (Parenthetical) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Statement of Financial Position [Abstract]
Preferred Stock Series A , par value $ 0 $ 0
Preferred Stock Series A, shares authorized 500,000 83,053
Preferred Stock Seed 1 - par value $ 0 $ 0
Preferred Stock - Seed 1, shares issued and outstanding 35,000 35,000
Preferred Stock - Seed 1 , shares authorized 35,000 35,000
Preferred Stock Seed 2 - par value $ 0 $ 0
Preferred Stock Seed 2 , shares issued and outstanding 463,908 463,908
Preferred Stock - Seed 2 , shares authorized 500,000 500,000
Common Stock, par value $ 0.001 $ 0
Common Stock, shares authorized 9,000,000 9,000,000
Common Stock, shares issued 68,025,899 24,646,646
Common Stock, shares outstanding 68,025,899 24,646,646
Property and equipment, net of accumulated depreciation $ 285,995 $ 202,303
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Statements of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Statement [Abstract]
SALES $ 198,874 $ 162,218 $ 555,623 $ 247,258
COST OF GOODS SOLD 202,863 188,570 430,311 311,361
GROSS PROFIT (3,989) (26,352) 125,312 (64,103)
OPERATING EXPENSES:
Research and development 177,375 503,692 177,375 1,157,945
General and administrative expenses 1,744,167 375,256 2,053,363 708,755
TOTAL OPERATING EXPENSES 1,921,542 878,948 2,230,738 1,866,700
LOSS FROM OPERATIONS (1,925,531) (905,300) (2,105,426) (1,930,803)
Grant income    600,000    600,000
Other income (800) (800) (800) (800)
Interest expense, net (91,670) (58,844) (130,991) (79,462)
TOTAL OTHER INCOME (EXPENSE) (92,470) 540,356 (131,791) 519,738
NET LOSS $ (2,018,001) $ (364,944) $ (2,237,217) $ (1,411,065)
Net Loss Per Share - Basic and Diluted $ (0.05) $ (0.01) $ (0.07) $ (0.06)
Weighted Average Shares Outstanding - Basic and Diluted 43,056,767 24,646,646 33,851,706 24,646,646
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Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Statement of Cash Flows [Abstract]
Net loss $ (2,237,217) $ (1,411,065)
Depreciation 83,692 76,734
Stock option expenses 79,796 79,796
Stock based compensation 1,504,200   
Amortization of deferred financing costs 7,512   
Amortization of debt discount 42,071   
Accounts recievable (70,073) (92,415)
Inventory 5,589   
Prepaid expenses 16,969   
Accounts payable (100,602) 417,790
Accounts payable related parties 9,447   
Accrued liabilities 227,559 39,217
Deferred rent (61,098) 3,425
Deferred revenue (65,812)   
NET CASH USED IN OPERATING ACTIVITIES (557,967) (886,518)
Cash paid for purchase of fixed assets (531) (15,500)
NET CASH USED BY INVESTING ACTIVITIES (531) (15,500)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash payments on deferred financing costs (42,000)   
Borrowings on line of credit,net 90,000   
Proceeds from short term debt 620,000
Principal payments on short term debt    (70,000)
Proceeds from short term debt - related parties 62,000 100,000
Payments on short term debt - related parties (27,500)   
Proceeds from issuance of convertible debt 550,000   
Principal payments on long term debt (25,000)   
Proceeds from issuance of Series A preferred stock    660,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 607,500 1,310,000
NET INCREASE (DECREASE) IN CASH 49,002 407,982
CASH, Beginning of Period 4,022 206,108
CASH, End of Period 53,024 614,090
Interest 12,041 34,099
Income taxes      
NON CASH INVESTING AND FINANCING ACTIVITIES
Debt discount on warrants issued with debt 528,058   
Warrants Issued for deferred financing costs 48,138   
Fixed assets purchased on credit 5,686 39,571
Reclassification of debt related party debt to short term debt $ 100,000   
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NOTE 1 - BASIS OF PRESENTATION AND NATURE OF ORGANIZATION
6 Months Ended
Jun. 30, 2012
Accounting Policies [Abstract]
NOTE 1 - BASIS OF PRESENTATION AND NATURE OF ORGANIZATION

 

NOTE 1 – BASIS OF PRESENTATION AND NATURE OF ORGANIZATION

 

Basis of Presentation and Fiscal Year

 

The accompanying unaudited interim financial statements of Windaus Global Energy Energy, Inc. (the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 8-K filed with the SEC on August 16, 2013. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for future quarters or for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the Form 8-K have been omitted.

 

Going Concern

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since inception, the Company has incurred losses and has negative working capital. In addition, the Company generated negative cash flow from operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

 

If necessary, the Company will pursue additional equity and/or debt financing while managing cash flows from operations in an effort to provide funds to meet its obligations on a timely basis and to support future business development.

 

The financial statements do not contain any adjustments to reflect the possible future effects on the classification of assets or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.

 

 

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NOTE 2 - REVERSE MERGER
6 Months Ended
Jun. 30, 2013
Accounting Policies [Abstract]
NOTE 2 - REVERSE MERGER

 

NOTE 2 – REVERSE MERGER

 

Effective May 22, 2013, Windaus Global Energy, Inc. entered into a Share Exchange Agreement with WindStream Technologies, Inc., pursuant to which, the Company agreed to exchange the outstanding common and preferred stock of WindStream held by the WindStream Shareholders for shares of common stock of the Company on a 1:25.808 basis. At the Closing, there were approximately 955,000 shares of WindStream common stock and 581,961 shares of WindStream preferred stock outstanding. Pursuant to the Share Exchange Agreement, the shares of WindStream common stock and preferred stock, were exchanged for 39,665,899 new shares of the Company’s common stock, par value of $0.001 per share.  At the closing of the agreement, Windaus Global Energy, Inc. had approximately 24,000,000 shares of common stock issued outstanding and no preferred stock.

 

As a result of the Share Exchange Agreement and the other transactions contemplated thereunder, WindStream is now a majority owned subsidiary of the Company.

 

For accounting purposes, this transaction is being accounted for as a reverse merger and has been treated as a recapitalization of Windaus Global Energy, Inc., with WindStream Technologies, Inc. is considered the accounting acquirer, and the financial statements of the accounting acquirer became the financial statements of the registrant. The Company did not recognize goodwill or any intangible assets in connection with the transaction. The 39,665,899 shares issued to the shareholder of WindStream Technologies, Inc., and its designees in conjunction with the share exchange transaction have been presented as outstanding for all periods. The historical consolidated financial statements include the operations of the accounting acquirer for all periods presented.

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NOTE 3 - SHORT TERM DEBT
6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]
NOTE 3 - SHORT TERM DEBT

 

NOTE 3 – SHORT TERM DEBT

 

On February 25, 2013, the Company entered into a working capital revolving line of credit with a bank, with a credit limit of $500,000, for use in financing overseas sales of the Company’s products. The Company’s draws under the line are transaction specific and are guaranteed by the Export Import Bank, a U.S. government entity. Draw downs on the line are used to meet the working capital needs of the Company to purchase materials and fund the labor and overhead to manufacture specific products for export to specific customers. The line accrues interest at a fixed rate of 6.6% and expires in March 2014. As of June 30, 2013, there were total draws on the line of credit of $285,712 and repayments of $195,712. The outstanding balance as of June 30, 2013 was $90,000.

 

During the six months ended June 30, 2013, one of the Company’s board member resign, therefore $100,000 of related party debt that was owe to him was reclassify to short term debt.

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Note 4 - CONVERTIBLE NOTE PAYABLE
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements
Note 4 - CONVERTIBLE NOTE PAYABLE

 

NOTE 4 – CONVERTIBLE NOTES PAYABLE

 

On June 1, 2013, the Company entered into subscriptions agreements with five accredited investors for the issuance of convertible promissory notes in the aggregate principal amount of $550,000, which are convertible into shares of common stock of the Company at $0.25 per share, and warrants entitling the holder to purchase up to an aggregate of 1,600,000 of shares of common stock of the Company at $0.25 per share. The warrants have a term of three years and vested immediately. The notes bear interest at 8% and are due in one year.

 

The Company evaluated the embedded conversion features within the convertible debt under ASC 815 “Derivatives and Hedging” and determined that neither the embedded conversion feature nor the warrants qualified for derivative accounting. Additionally, the instruments were evaluated under ASC 470-20 “Debt with Conversion and Other Options” for consideration of any beneficial conversion feature. It was concluded that a beneficial conversion feature existed for the convertible debt due to the relative fair value of the warrants issued with the debt. The relative fair value of the warrants was measured using the Black-Sholes Option Pricing Model and recorded as a debt discount, which is being amortized over the life of the debt using the effective interest method.

 

The total discount recorded on the date of issuance was $528,058 and the unamortized discount balance at June 30, 2013 was $485,987.

 

In connection with one of the five debt issuances, the company paid finder’s fees of $42,000 as well as 140,000 common stock warrants at $0.05 per share. The warrants vest immediately and have a three years term. The fair value of the warrants was determined to be $48,138. The combined value of the warrants and cash amounted to $90,138, which was capitalized as a deferred financing cost and will be amortized over the life of the notes. As of June 30, 2013, the deferred financing costs had a balance of $82,626.

 

 

 

 

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NOTE 5 - NOTE PAYABLE
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements
NOTE 5 - NOTE PAYABLE

 

NOTE 5 - NOTE PAYABLE

 

In July 2011, the Company entered into a $1,400,000 note agreement with the City of North Vernon, Indiana. Interest accrues at 5.5% and the note matures on August 1, 2016. In May 2013, the Company made a $25,000 principal payment on the debt. As of June 30, 2013 and December 31, 2012, the note has an outstanding of $1,375,000 and $1,400,000, respectively.

 

Interest and principal payments are expected to be paid in each fiscal year follows:

 

 2013   $234,303 
 2014   $234,303 
 2015   $234,303 
 2016   $1,182,351 

 

The Company was unable to pay the interest and principal payments due on August 1, 2012 and is in default of such payment.  The Company was able to negotiate payment terms with the City of North Vernon, Indiana, which allowed the Company to delay scheduled repayments of the loan

 

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NOTE 6 - RELATED PARTY TRANSACTION
6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]
NOTE 6 - RELATED PARTY TRANSACTION

 

NOTE 6 – RELATED PARTY TRANSACTIONS

 

As of June 30, 2013, the Company owed $51,152 to the Company president for expenses incurred on behalf of the Company. As of December 31, 2012, the balance due for expenses incurred was $41,705. These amounts are non-interest bearing, unsecured and due on demand.

 

During the six months ended June 30, 2013, the Company president advanced to the Company an additional $62,000 to fund operations and the Company repaid $27,500 of the total amount that was advanced. The outstanding balance as of December 31, 2012 and June 30, 2013 was $153,000 and $187,500, respectively.

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NOTE 7 - STOCK OPTIONS
6 Months Ended
Jun. 30, 2013
Other Liabilities Disclosure [Abstract]
NOTE 7 - STOCK OPTIONS

 

NOTE 7 – STOCK OPTIONS

 

In fiscal 2010, the Company issued 172,500 options to purchase common stock to various employees for services rendered. These options were granted with an exercise price ranging from $0.65 to $0.90 per share, have a contract term of ten years and are vested for a period of five years or immediately. The options have a fair value of $565,770 which was calculated using the Black-Sholes option pricing model.

 

 

In fiscal 2012, the Company issued 32,500 options to purchase common stock to various employees and consultants for services rendered. These options were granted with an exercise price of $.90 per share, have a contract term of ten years and are vested for a period of five years. The options have a fair value of $289,572 which was calculated using the Black-Scholes option pricing model.

 

Stock option activity is presented in the table below:

 

  Number of Shares  Weighted average Exercise Price  Weight average Contractual Term (years)  Aggregate Intrinsic Value
                      
 Outstanding at December 31, 2011   172,500    0.83    8.75    —   
                      
 Granted   32,500    0.9    10.00    —   
                      
 Outstanding at December 31, 2012   205,000    0.85    7.95    —   
                      
 Outstanding at June 30, 2013   205,000    0.85    7.45    —   

 

 

The Company recognized stock compensation expense as follows for all periods presented:

  

 

Six months ended

June 30, 2013

     

Six months ended

June 30, 2012

 
$ 79,796     $ 79,796  

 

The fair value of the options granted during the various periods was estimated at the date of grant using the Black-Scholes option-pricing model and the following assumptions:

 

Year Options were granted  2012   2010 
         
Market value of stock on grant date  8.91   3.28
Risk-free interest rate  1.39%  1.54 to 3.14%
Dividend Yield  0%  0%
Volatility Factor  300%  300%
Weighted average expected life  7.5 years   5 to 7.5 years 
Expected forfeiture rate  0%  0%
         

 

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NOTE 8 - COMMON STOCK ISSUED FOR CONSULTING SERVICES
6 Months Ended
Jun. 30, 2013
Equity [Abstract]
NOTE 8 - COMMON STOCK ISSUED FOR CONSULTING SERVICES

 

NOTE 8 – COMMON STOCK ISSUED FOR CONSULTING SERVICES

 

In May 2013, the Company issued 4.36 million shares of common stock for consulting services. The shares were valued at $.345 per share with a par value of .001 per share. The shares were not forfeitable and vested immediately. A total of $1,504,200 in stock based compensation was recognized on the share issuances.

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NOTE 9 - COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2013
Accounting Policies [Abstract]
NOTE 9 - COMMITMENTS AND CONTINGENCIES

 

NOTE 9 – COMMITMENTS AND CONTINGENCIES

 

Leases

 

The Company leases various facilities under a non-cancelable operating lease expiring on September 30, 2013. The current minimum monthly rental payment is $4,750 plus various expenses incidental to use of the property. The Company has an option to extend the lease for one twelve month period at slightly higher monthly rent.

 

The Company also leases a research facility in New Albany, Indiana under a sixty-five month lease expiring March 30, 2015. The Company evaluated the lease under FASB ASC 840-20 “Operating Leases” and notes that the lease qualifies as an escalating lease. Therefore, rent expense was calculated on a straight-line basis, and was determined to be $3,124 per month.

 

In May 2013, the landlord terminated the lease and the company moved out of the related space. All past and future rent unpaid obligations under the lease were forgiven. The Company’s deferred rent liability for the six month period ended June 30, 2013 and for the year ended December 31, 2012 was $0, and $61,098, respectively.

 

Litigation

 

Various lawsuits, claims and other contingencies arise in the ordinary course of the Company’s business activities. While the ultimate outcome of the aforementioned contingencies are not determinable at this time, management believes that any liability or loss resulting there from will not materially affect the financial position, result of operations or cash flows of the Company.

 

 

 

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NOTE 10 - SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2013
Subsequent Events [Abstract]
NOTE 10 - SUBSEQUENT EVENTS

 

NOTE 10 – SUBSEQUENT EVENTS

 

On July 4, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 5,000,000 shares of common stock at $0.05 per share, for an aggregate purchase price of $250,000.

 

In July 2013, the Company entered into subscription agreements with accredited investors for the issuance of 1,800,000 shares at $0.25 per share together with warrants to purchase 1,500,000 shares at $0.50 per share for an aggregate purchase price of $450,000. The warrants vest immediately and have a term of three years.

 

On August 5, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 200,000 shares at $0.25 per share together with warrants to purchase 50,000 shares at $0.50 per share for an aggregate purchase price of $50,000. The warrants vest immediately and have a term of three years.

 

In August, 2013, the Company issued warrants to various investors entitling the holders to purchase up to an aggregate of 1,100,000 of shares of common stock of the Company at $0.25 per share. The warrants vest immediately and have a term of three years.

 

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NOTE 5 - NOTE PAYABLE (Tables)
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements
Payment Agreement

 

 

 2013  $234,303 
 2014   $234,303 
 2015   $234,303 
 2016  $1,182351 
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NOTE 7 - STOCK OPTIONS (Tables)
6 Months Ended
Jun. 30, 2013
Other Liabilities Disclosure [Abstract]
Weighted Averages

 

  Number of Shares   Weighted average Exercise Price   Weight average Contractual Term (years)   Aggregate Intrinsic Value
                                   
  Outstanding at December 31, 2011     172,500       0.83       8.75       —    
                                   
  Granted     32,500       0.9       10.00       —    
                                   
  Outstanding at December 31, 2012     205,000       0.85       7.95       —    
  Outstanding at June 30, 2013     205,000       0.85       7.45       —    

 

Compensation Expense

 

 

Six months ended

June 30, 2013

     

Six months ended

June 30, 2012

 
$ 79,796     $ 79,796  

 

Stock Fair Value Options

 

Year Options were granted     2012       2010  
Market value of stock on grant date     8.91 %     3.28 %
Risk-free interest rate     1.39 %     1.54 to 3.14 %
Dividend Yield     0 %     0 %
Volatility Factor     300 %     300 %
Weighted average expected life     7.5 years       5 to 7.5 years  
Expected forfeiture rate     0 %     0 %

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NOTE 5 - NOTE PAYABLE - Payment Agreement (Details) (USD $)
Dec. 31, 2016
Mar. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Notes to Financial Statements
Interest and Principal payments $ 1,182,351 $ 234,303 $ 234,303 $ 234,303
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NOTE 1 - BASIS OF PRESENTATION AND NATURE OF ORGANIZATION (Detail Narrative)
6 Months Ended
Jun. 30, 2013
Accounting Policies [Abstract]
Basis of Presentation and Fiscal Year

 

Basis of Presentation and Fiscal Year

 

The accompanying unaudited interim financial statements of Windaus Global Energy Energy, Inc. (the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 8-K filed with the SEC on August 16, 2013. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for future quarters or for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the Form 8-K have been omitted.

Going Concern

 

Going Concern

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since inception, the Company has incurred losses and has negative working capital. In addition, the Company generated negative cash flow from operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

 

If necessary, the Company will pursue additional equity and/or debt financing while managing cash flows from operations in an effort to provide funds to meet its obligations on a timely basis and to support future business development.

 

The financial statements do not contain any adjustments to reflect the possible future effects on the classification of assets or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.

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NOTE 2 - REVERSE MERGER (Details Narrative) (USD $)
Jun. 30, 2013
Jun. 01, 2013
May 22, 2013
Dec. 31, 2012
Notes to Financial Statements
Common Stock outstanding 68,025,899 955,000 24,646,646
Preferred stock outstanding 581,961
Common and Preferred stock exchange 39,665,899
[us-gaap:CommonStockParOrStatedValuePerShare] $ 0.001 $ 0.25 $ 0.001 $ 0
Windaus Global Engergy 24,000,000
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NOTE 3 - SHORT TERM DEBT (Detail Narrative) (USD $)
Jun. 30, 2013
Feb. 25, 2013
Debt Disclosure [Abstract]
Revolving credit line $ 500,000
Accrued Interest 6.06
Line of credit withdrawals 284,712
Line of credit repayments 195,712
Outstanding balance $ 90,000
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NOTE 4 - CONVERTIBLE NOTE PAYABLE (Details Narrative) (USD $)
Jun. 30, 2013
Jun. 01, 2013
May 22, 2013
Dec. 31, 2012
Notes to Financial Statements
Promissory Notes Related Parties $ 550,000
Interest 0.8
Convertible common stock $ 0.001 $ 0.25 $ 0.001 $ 0
Unamortized discount balance 485,987
Shares Amount $ 16,000,000
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NOTE 5 - NOTE PAYABLE (Details Narrative) (USD $)
Jun. 30, 2013
May 30, 2013
Dec. 31, 2012
Jul. 01, 2011
Notes to Financial Statements
Note Payable $ 1,400,000
Interest rate 550.00%
Principal payment 250,000
Outstanding balance $ 1,375,000 $ 1,400,000
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NOTE 6 - RELATED PARTY TRANSACTION (Details Narrative) (USD $)
6 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Related Party Transactions [Abstract]
Due to President $ 51,152 $ 49,140 $ 41,705
Advancement 62,000
Payment (27,500)
Balance due President $ 187,500 $ 153,000
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NOTE 8 - COMMON STOCK ISSUED FOR CONSULTING SERVICES (Details Narrative) (USD $)
May 30, 2013
Notes to Financial Statements
Common Stock issued for consulting services 4.36
Value of Shares Issued $ 0.345
Shares Par Value $ 0.001
Stock Based CompensationRecognized $ 1,504,200
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