Rendering

Component: (Network and Table)
Network
002 - Statement - CONSOLIDATED BALANCE SHEETS
(http://www.absolutels.com/role/CONSOLIDATEDBALANCESHEETS)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001421538 (http://www.sec.gov/CIK)
Statement [Line Items]Period [Axis]
2012-08-31
2011-08-31
2010-08-31
ASSETS
 
 
 
Cash and cash equivalents
233,050  
1,917,896  
3,498,525  
Accounts receivable
0  
1,263,000  
 
Insurance purchase escrow
0  
128,750  
 
Receivable under reverse repurchase agreement
0  
3,368,593  
 
Investment in life settlement contracts at investment method
4,334,012  
0  
 
Prepaid expenses
15,192  
45,044  
 
Total current assets
4,582,254  
 
6,723,283  
 
 
 
Equipment, net
66,129  
90,082  
 
Security deposit
56,688  
56,688  
 
Investment in life settlement contracts at fair value
64,667,124  
92,708,076  
12,313,897  
TOTAL ASSETS
69,372,195  
 
99,578,129  
 
 
 
LIABILITIES
 
 
 
Accounts payable and accrued expenses
441,297  
44,607  
 
Interest payable
626,710  
0  
 
Loans payable
59,450,000  
0  
 
Due to provider
0  
568,000  
 
Total current liabilities
60,518,007  
 
612,607  
 
 
 
Deferred rent
49,335  
42,148  
 
Deferred income taxes
4,243,044  
21,071,160  
 
TOTAL LIABILITIES
64,810,386  
 
21,725,915  
 
 
 
STOCKHOLDERS' EQUITY
 
 
 
Preferred stock ($0.00001 par value; 100,000,000 authorized; of which 60,000 are designated as Series A 12.5% convertible preferred stock; No Series A issued and outstanding ( August 31, 2011 - 41,950 issued and outstanding) of which 25,000 are designated as Series B 12.5% convertible preferred stock; No Series B issued and outstanding ( August 31, 2011 - 8,850 issued and outstanding)
0  
0  
 
Common stock ($0.00001 par value; 500,000,000 authorized; 92,544,747 issued and 92,229,599 outstanding) (August 31, 2011 - 85,424,597 issued and outstanding)
925  
854  
 
Additional paid in capital
51,486,890  
96,773,677  
 
Treasury stock, at cost (315,148 shares of common stock) (August 31, 2011- No shares of common stock)
(44,121) 
0  
 
Retained earnings (accumulated deficit)
(46,881,885) 
(18,922,317) 
 
Total Stockholders' Equity
4,561,809  
 
77,852,214  
 
16,383,343  
 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
69,372,195  
 
99,578,129