Quantum Bit Induction Technology, Inc.
Statement of Cash Flows
January through December 2005
					Jan - Dec 05
		OPERATING ACTIVITIES
			Net Income		164,609.66
			Adjustments to reconcile Net Income
			to net cash provided by operations:
				Stock Purchase	-670,279.49
				Loan - Chad Reed	250.00
				Loan - Tom Neer	800.00
				Hibernia Investment account	-42,530.07
				Short Term Investments:MPH	-465.00
				Petty cash	-16,994.82
				Accounts Payable	-1,078.88
				Loan - Peter McCain	100,000.00
				Loan- Ellis Gibson	154,251.14
				Loan- Mike Skillern	382,504.65
				Loan- Other	-450.00
		Net cash provided by Operating Activities			70,617.19
		INVESTING ACTIVITIES
			Receivable - Investment		-250.00
		Net cash provided by Investing Activities			-250.00
		FINANCING ACTIVITIES
			Common Stock		511.20
		Net cash provided by Financing Activities			511.20
	Net cash increase for period				70,878.39
	Cash at beginning of period				9,328.89
Cash at end of period					80,207.28