Quantum Bit Induction Technology, Inc.
Balance Sheet Prev Year Comparison
As of December 31, 2005
					Dec 31, 05		Dec 31, 04		$ Change		% Change
ASSETS
	Current Assets
		Checking/Savings
			Capital OneBank
				Operations	13,690.25		1,588.48		12,101.77		761.85%
				- Savings	23,727.41		301.19		23,426.22		7,777.89%
				- LOC	4,102.25		-5,600.00		9,702.25		-173.25%
				- President	4,305.35		333.07		3,972.28		1,192.63%
			Total Capital OneBank		45,825.26		-3,377.26		49,202.52		-1,456.88%
			Hibernia - DBA - PTA		3,770.15		4,480.85		-710.70		-15.86%
			Paypal		20,295.29		5,237.05		15,058.24		287.53%
			Wein Securities		250.00		250.00		0.00		0.0%
			Cash E - Trade		10,066.58		2,738.25		7,328.33		267.63%
		Total Checking/Savings			80,207.28		9,328.89		70,878.39		759.77%
		Other Current Assets
			Stock Purchase		671,279.49		1,000.00		670,279.49		67,027.95%
			Loan - Chad Reed		0.00		250.00		-250.00		-100.0%
			Loan - Tom Neer		0.00		800.00		-800.00		-100.0%
			Loan - PTA		6,100.00		6,100.00		0.00		0.0%
			Hibernia Investment account		61,530.07		19,000.00		42,530.07		223.84%
			Treasury Stock		8,750.00		8,750.00		0.00		0.0%
			Short Term Investments
				MPH	465.00		0.00		465.00		100.0%
				Short Term Investments - Other	10,800.33		10,800.33		0.00		0.0%
			Total Short Term Investments		11,265.33		10,800.33		465.00		4.31%
			Petty cash		35,811.78		18,816.96		16,994.82		90.32%
		Total Other Current Assets			794,736.67		65,517.29		729,219.38		1,113.02%
	Total Current Assets				874,943.95		74,846.18		800,097.77		1,068.99%
	Fixed Assets
		Equipment
			Accumulated depreciation		-587.00		-587.00		0.00		0.0%
			Equipment - Other		4,647.28		4,647.28		0.00		0.0%
		Total Equipment			4,060.28		4,060.28		0.00		0.0%
		Software			1,984.08		1,984.08		0.00		0.0%
	Total Fixed Assets				6,044.36		6,044.36		0.00		0.0%
	Other Assets
		Receivable - Investment			1,987.00		1,737.00		250.00		14.39%
		New Utopia Land			-2,100.00		-2,100.00		0.00		0.0%
	Total Other Assets				-113.00		-363.00		250.00		-68.87%
TOTAL ASSETS					880,875.31		80,527.54		800,347.77		993.88%
LIABILITIES & EQUITY
	Liabilities
		Current Liabilities
			Accounts Payable
				Accounts Payable	22,133.60		23,212.48		-1,078.88		-4.65%
			Total Accounts Payable		22,133.60		23,212.48		-1,078.88		-4.65%
			Credit Cards
				American Express	3,455.07		3,455.07		0.00		0.0%
			Total Credit Cards		3,455.07		3,455.07		0.00		0.0%
			Other Current Liabilities
				Loan - Chris Hymel	376.00		376.00		0.00		0.0%
				Loan - Peter McCain	100,000.00		0.00		100,000.00		100.0%
				Payroll Taxes Payable	16,465.00		16,465.00		0.00		0.0%
				Accured Interest	1,562.00		1,562.00		0.00		0.0%
				Accured Payable	1,162.00		1,162.00		0.00		0.0%
				Loan- Ellis Gibson	156,696.48		2,445.34		154,251.14		6,307.96%
				Loan- Cyril A. Brandt	30,000.00		30,000.00		0.00		0.0%
				Loan- Mike Skillern	396,000.63		13,495.98		382,504.65		2,834.21%
				Loan- Other	-250.00		200.00		-450.00		-225.0%
			Total Other Current Liabilities		702,012.11		65,706.32		636,305.79		968.41%
		Total Current Liabilities			727,600.78		92,373.87		635,226.91		687.67%
	Total Liabilities				727,600.78		92,373.87		635,226.91		687.67%
	Equity
		Offering 2003			38,940.00		38,940.00		0.00		0.0%
		Opening Bal Equity			509.16		509.16		0.00		0.0%
		Common Stock			45,511.20		45,000.00		511.20		1.14%
		Paid in Capital			-14,869.99		-14,869.99		0.00		0.0%
		Retained Earnings			-81,425.50		-159,169.58		77,744.08		-48.84%
		Net Income			164,609.66		77,744.08		86,865.58		111.73%
	Total Equity				153,274.53		-11,846.33		165,120.86		-1,393.86%
TOTAL LIABILITIES & EQUITY					880,875.31		80,527.54		800,347.77		993.88%