Quarterly report pursuant to Section 13 or 15(d)

EAT AT JOE'S LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

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EAT AT JOE'S LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 736,609 $ 712,648
Receivables 11,496 12,877
Inventory 12,100 12,100
Prepaid expense 17,369 17,787
Security Deposit 15,000 15,000
Trading securities 196,312 268,163
Available-for-sale securities 319,440 226,160
Total Current Assets 1,308,326 1,264,735
Property and equipment:    
Equipment 100,818 97,594
Furniture & Fixtures 3,964 3,964
Leasehold improvements 274,637 274,637
Total Property & Equipment gross 379,419 376,195
Less accumulated depreciation (47,677) (35,347)
Total Property & Equipment 331,742 340,848
TOTAL ASSETS 1,640,068 1,605,583
Current Liabilities:    
Accounts payable and accrued liabilities 158,987 180,723
Related party accounts payable 8,784 8,784
Short-term notes payable 172,870 172,870
Related party notes payable current 2,592,044 2,628,964
Convertible debentures 2,043,702 2,043,702
Total Current Liabilities 4,976,387 5,035,043
Non-Current Liabilities:    
Related party notes payable non-current 0 0
Total Liabilities 4,976,387 5,035,043
STOCKHOLDERS' DEFICIT    
Common Stock - $0.0001 par value. 250,000,000 shares authorized; 106,577,710 issued and outstanding March 31, 2012 and December 31, 2011. 10,658 10,658
Additional paid-in capital 13,570,485 13,570,485
Unrealized gain (loss) on available-for-sale securities 183,440 112,660
Retained deficit (17,100,904) (17,123,265)
Total Stockholders' Deficit (3,336,319) (3,429,460)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 1,640,068 1,605,583
Series E - Convertible Preferred Stock
   
STOCKHOLDERS' DEFICIT    
Preferred stock $ 2 $ 2