Quantum Bit Induction Technology, Inc.
Balance Sheet
As of December 31, 2006
					Dec 31, 06
ASSETS
	Current Assets
		Checking/Savings
			Capital OneBank
				- Secretary	33.71
				- Operations	13,024.16
				- Savings	63,547.74
				- LOC	4,102.25
				- President	4,502.51
				- Shop	457.69
			Total Capital OneBank		85,668.06
			Hibernia - DBA - PTA		3,770.15
			Paypal		19,889.84
			Wein Securities		250.00
			Cash E - Trade		5,000.00
		Total Checking/Savings			114,578.05
		Other Current Assets
			Loan - MPH		20,000.00
			Symmetry Technologies, Inc		10,000.00
			Stock		617.00
			Stock Purchase		682,904.49
			Loan - PTA		6,100.00
			Hibernia Investment account		61,530.07
			Treasury Stock		8,750.00
			Short Term Investments
				MPH	-2,155.00
				Short Term Investments - Other	550.14
			Total Short Term Investments		-1,604.86
			Petty cash		72,653.85
		Total Other Current Assets			860,950.55
	Total Current Assets				975,528.60
	Fixed Assets
		Equipment
			Accumulated depreciation		-587.00
			Equipment - Other		4,647.28
		Total Equipment			4,060.28
		Software			1,984.08
	Total Fixed Assets				6,044.36
	Other Assets
		Automobile			500.00
		Real estate			30,728.89
		Receivable - Investment			1,987.00
		New Utopia Land			-2,100.00
	Total Other Assets				31,115.89
TOTAL ASSETS					1,012,688.85
LIABILITIES & EQUITY
	Liabilities
		Current Liabilities
			Accounts Payable
				Accounts Payable	21,739.74
			Total Accounts Payable		21,739.74
			Credit Cards
				Citi	15,602.22
				American Express	3,455.07
			Total Credit Cards		19,057.29
			Other Current Liabilities
				Loan - Chris Hymel	376.00
				Loan - Peter McCain	5,500.00
				Payroll Taxes Payable	16,465.00
				Accured Interest	1,562.00
				Accured Payable	1,162.00
				Loan- Ellis Gibson	29,886.59
				Loan- Cyril A. Brandt	30,000.00
				Loan- Mike Skillern	113,751.87
				Loan- Other	-250.00
			Total Other Current Liabilities		198,453.46
		Total Current Liabilities			239,250.49
	Total Liabilities				239,250.49
	Equity
		504 offering			362,500.00
		Offering 2003			38,940.00
		Opening Bal Equity			-18,488.06
		Common Stock			479,011.20
		Paid in Capital			130.01
		Retained Earnings			83,184.16
		Net Income			-171,838.95
	Total Equity				773,438.36
TOTAL LIABILITIES & EQUITY					1,012,688.85