Quantum Bit Induction Technology, Inc.					11:48 AM
Balance Sheet					01/03/2008
As of December 31, 2007					Accrual Basis
					Dec 31, 07
ASSETS
	Current Assets
		Checking/Savings
			Scott Trade - cash		1,000.00
			LPL Financial - cash		120.00
			TDAmeritrade - cash		1,600.00
			Capital OneBank
				- Secretary	17.80
				- Operations	4,278.38
				- Savings	41,812.62
				- LOC	4,102.25
				- President	34.46
				- Shop	0.69
			Total Capital OneBank		50,246.20
			Hibernia - DBA - PTA		3,770.15
			Paypal		14,155.08
			Wein Securities		250.00
			Etrade - cash		7,350.00
		Total Checking/Savings			78,491.43
		Other Current Assets
			Loan - MPH		8,032.34
			Symmetry Technologies, Inc		10,577.00
			Stock
				Option	1,500.00
				Stock - Other	6,542.00
			Total Stock		8,042.00
			Stock Purchase		705,004.49
			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		134,029.08
		Total Other Current Assets			940,460.12
	Total Current Assets				1,018,951.55
	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					1,056,111.80
LIABILITIES & EQUITY
	Liabilities
		Current Liabilities
			Accounts Payable
				Accounts Payable	43,524.21
			Total Accounts Payable		43,524.21
			Credit Cards
				Citi	20,602.22
				American Express	8,455.07
			Total Credit Cards		29,057.29
			Other Current Liabilities
				Loan - Tom Neer2	7,500.00
				UGMA - Katie Gibson	15,000.00
				Loan - Dell Gibson	9,242.83
				loan - Tejas	14,000.00
				Loan - Donna Skillern	25,000.00
				Loan - Chris Hymel	376.00
				Loan - Peter McCain	106,500.00
				Payroll Taxes Payable	16,465.00
				Accured Interest	1,562.00
				Accured Payable	1,162.00
				Loan- Ellis Gibson	136,393.28
				Loan- Cyril A. Brandt	30,000.00
				Loan- Mike Skillern	179,899.63
				Loan- Other	-250.00
			Total Other Current Liabilities		542,850.74
		Total Current Liabilities			615,432.24
	Total Liabilities				615,432.24
	Equity
		Class B			50,361.49
		504 offering			362,500.00
		Offering 2003			38,940.00
		Opening Bal Equity			-18,488.06
		Common Stock			416,274.20
		Paid in Capital			25,110.01
		Retained Earnings			-88,654.79
		Net Income			-345,363.29
	Total Equity				440,679.56
TOTAL LIABILITIES & EQUITY					1,056,111.80