UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

FORM 10-Q

[ X ] Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarter ended SeptemberJune 30, 20152016

OR

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to ___________

Commission file number: 000-52227

START SCIENTIFIC, INC.

(Name of Small Business Issuer in Its Charter)

(Former name or former address and former fiscal year, if changed since last report.)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer,” and “smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d) of the Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date. As of November 5, 2015,March 14, 2018, the Company had issued and outstanding 138,896,453652,899,353 shares of common stock.

PART I

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS REQUIRED BY FORM 10-Q

The Financial Statements of the Company are prepared as of SeptemberJune 30, 2015.2016.

START SCIENTIFIC, INC.

Notes to the Financial Statements

SeptemberJune 30, 20152016

(Unaudited)

NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited financial statements have been prepared by Start Scientific, Inc. (the "Company") pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2014.2015. Operating results for the ninesix months ended SeptemberJune 30, 20152016 are not necessarily indicative of the results to be expected for the year ending December 31, 2015.2016.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Basic and Fully Diluted Net Loss per Share of Common Stock

In accordance with Financial Accounting Standards No. ASC 260, “Earnings per Share,” basic net loss per common share is based on the weighted average number of shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period. There are no common stock equivalents as of September 30, 2015 and 2014.

Derivative Liabilities

The Company assessed the classification of its derivative financial instruments as of September 30, 2015, which consist of convertible instruments and rights to shares of the Company’s common stock, and determined that such derivatives meet the criteria for liability classification under ASC 815.

ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirements of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described.

START SCIENTIFIC, INC.

Notes to the Financial Statements

September 30, 2015

(Unaudited)

NOTE 2 - GOING CONCERN CONSIDERATIONS

The accompanying condensed financial statements have been prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As reported in its Annual Report on Form 10-K for the year ended December 31, 2014,2015, the Company has incurred operating losses of $14,581,637$16,502,834 from inception of the Company through December 31, 2014.2015. The Company’s accumulated deficit at SeptemberJune 30, 20152016 was $16,157,210$16,467,898 and had a working capital deficit, continued losses, and negative cash flows from operations. These factors combined, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans to address and alleviate these concerns are as follows:

The Company’s management continues to develop a strategy of exploring all options available to it so that it can develop successful operations and have sufficient funds, therefore, as to be able to operate over the next twelve months. The Company is attempting to improve these conditions by way of financial assistance through issuances of additional equity and by generating revenues through sales of products and services. No assurance can be given that funds will be available, or, if available, that it will be on terms deemed satisfactory to management. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attain profitable operations. The accompanying condensed financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of these uncertainties.

NOTE 3 - STOCK BASED COMPENSATION

During the ninesix months ended SeptemberJune 30, 2015, the Company issued a total of 6,000,000 shares of common stock for consulting services rendered to the Company. The stock was valued at the market price on the date of issuance which totaled $1,050,000. This amount is included in salaries and consulting expenses on the statement of operations.

START SCIENTIFIC, INC.

Notes to the Financial Statements

June 30, 2016

(Unaudited)

NOTE 4 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - RELATED PARTY TRANSACTIONSPARTIES

During the nine months ended September 30, 2015, the Company received proceeds from notes payable to related parties in the amount of $300 and made payments on notes payable to related parties in the amount of $32,300. During the nine months ended September 30, 2014, the Company received proceeds from notes payable to related parties in the amount of $2,529 and made payments on notes payable to related parties in the amount of $550. Also, accountsAccounts payable and accrued liabilities to– related parties increased by $112,604.consisted of the following as of June 30, 2016 and December 31, 2015:

NOTE 5 - CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following as of June 30, 2016 and December 31, 2015:

On February 10, 2015, the Company issued a promissory note in the original principal amount of $33,000 to a lender. The Note maturesmatured on November 12, 2015 and carriescarried an interest rate of 8% per annum. The Note shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a 45%55% discount to the average of the three lowest daily trading prices as reported on the OTCQB for the twelve trading days previous to the conversion date. During the year ended December 31, 2015, the entire principal amount of the note was converted into common stock of the Company.

START SCIENTIFIC, INC.

Notes to the Financial Statements

SeptemberJune 30, 20152016

(Unaudited)

(A) On February 25, 2015, the Company issued a promissory note in the original principal amount of $52,500 to a lender. The Note maturesmatured on February 25, 2016 and carriescarried an interest rate of 8% per annum. The Note shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a 40%60% discount to the lowest trading price as reported on the OTCQB for the fifteen trading days previous to the conversion date. During the year ended December 31, 2015, $25,175 of the principal amount of the note was converted into common stock of the Company leaving a net balance of $23,058 with the debt discount of $4,267. During the six months ended June 30, 2016, $3,695 of the principal amount of the note was converted into common stock of the Company leaving a net balance of $21,516 with the debt discount of $2,114.

(B) On March 6, 2015, the Company entered into a Note Purchase Agreement in respect of a credit line and associated convertible debenture in the original principal amount up to $220,000. As of March 6, 2015, the Company recorded a $55,000 draw down and consideration in respect of the credit line. The Debenture maturesmatured on March 6, 2016 and bearsbore interest at the rate of 10% per annum. The Debenture, together with all interest as accrued, is convertible into shares of the Company’s common stock at a price equal to the lower of $.10 or 58% of the lowest trading price of the Company’s common stock during the 20 previous consecutive trading days. The Note Purchase and the Debenture contain representations, warranties, conditions, restrictions, and covenants of the Company that are customary in such transactions with smaller companies. During the year ended December 31, 2015, $50,299 of the principal amount of the note was converted into common stock of the Company leaving a net balance of $3,853 with the debt discount of $848, which was converted during the quarter ended March 31, 2016. As of June 30, 2016, the balance was $-0-.

(C) On April 29, 2015, the Company issued a promissory note in the original principal amount of $53,500 to a lender. The Note maturesmatured on April 29, 2016 and carried an interest rate of 10% per annum. The Note shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a 55% discount to the lowest trading price as reported on the OTCQB for the fifteen trading days previous to the conversion date. During the year ended December 31, 2015, $5,774 of the principal amount of the note was converted into common stock of the Company leaving a net balance of $31,840 with the debt discount of $15,647. During the six months ended June 30, 2016, $238 of the note was converted leaving a balance of $47,487 with the debt discount of $-0-.

(D) On January 12, 2016, the Company issued a promissory note in the original principal amount of $25,000 to a lender. The Note matures on demand and carries an interest rate of 10% per annum. The Note shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a 45% discountconversion price equal to $0.00005. During the six months ended June 30, 2016, $2,600 of the principal amount of the note was converted into common stock of the Company leaving a net balance of $22,400 as of June 30, 2016.

The Company recognized amortization expense related to the lowest trading price as reported on the OTCQBdebt discount of $18,649 and $61,274 for the fifteen trading days previoussix months ended June 30, 2016 and 2015, respectively.

START SCIENTIFIC, INC.

Notes to the conversion date.Financial Statements

June 30, 2016

(Unaudited)

For the periods ended June 30, 2016 and December 31, 2015, the Company recognized interest expense on convertible notes of $34,099 and $11,160, respectively. As of June 30, 2016 and December 31, 2015, the accrued interest payable was $11,984 and $8,405, respectively.

NOTE 6 - NOTES PAYABLE

Accrued interest at June 30, 2016 and December 31, 2015 was $152,722 and $138,826, respectively.

START SCIENTIFIC, INC.

Notes to the Financial Statements

June 30, 2016

(Unaudited)

NOTE 7 - NOTES PAYABLE – RELATED PARTIES

Accrued interest at June 30, 2016 and December 31, 2015 $87,920 and $100,462, respectively.

NOTE 68 - DERIVATIVE LIABILITY

The Company analyzed the conversion option for derivative accounting consideration under ASC 815, “Derivatives and Hedging,” anddetermined that the convertible notes should be classified as a liability since the conversion option becomes effective at issuance resulting in there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. The Company accounts for warrants as a derivative liability due to there being no explicit limit to the number of shares to be delivered upon settlement of all conversion options.

The Company determined our derivative liabilities to be a Level 2 fair value measurement and used the Black-Scholes pricing model to calculate the fair value as of June 30, 2016 and December 31, 2015. The Black-Scholes model requires six basic data inputs: the exercise or strike price, time to expiration, the risk free interest rate, the current stock price, the estimated volatility of the stock price in the future, and the dividend rate. Changes to these inputs could produce a significantly higher or lower fair value measurement. The fair value of each convertible note and warrant is estimated using the Black-Scholes valuation model.

START SCIENTIFIC, INC.

Notes to the Financial Statements

June 30, 2016

(Unaudited)

The derivative liability at June 30, 2016 consisted of the following:

The derivative liability at December 31, 2015 consisted of the following:

The above convertible notes contain a variable conversion feature based on the future trading price of the Company’s common stock. Therefore, the number of shares of common stock issuable upon conversion of the note is indeterminate. Due to the convertible notes described in Note 5 above, it was determined at SeptemberJune 30, 20152016 that there was a derivative liability associated with these notes. The amount of the derivative liability at SeptemberJune 30, 20152016 was $244,921,$27,287, which is reported on the balance sheet. The Company also recorded a lossgain on the change in the fair value of the derivative liability of $85,951 and $26,751, respectively,$111,799 on the statement of operations for the three and ninesix months ended SeptemberJune 30, 2015.2016.

NOTE 79 - COMMON STOCKEQUITY TRANSACTIONS

On January 8, 2016, the Company amended and restated its Certificate of Incorporation to increase the number of authorized shares of common stock to be issued to 5,000,000,000. The par value of both the Preferred Stock and common stock was also changed from $0.0001 to $0.00001.

START SCIENTIFIC, INC.

Notes to the Financial Statements

June 30, 2016

(Unaudited)

During the ninesix months ended SeptemberJune 30, 2015,2016, the Company converted $28,000issued an aggregate of the convertible promissory notes described in Note 5 into 7,231,453188,311,135 shares of its common stock.stock for the conversion of notes payable and accrued interest in the amount of $29,617.

NOTE 10 - INCOME TAX DISCLOSURE

During the six months ended June 30, 2016, the Company recorded net income in the amount of $34,936. The reported net income is mainly derived from the gain on change in fair value of derivative liability, a non-taxable permanent difference. Accordingly, no income tax expense or reduction in the NOL has been recorded or disclosed, though taxable losses have increased the NOL in the current period by $76,000.

NOTE 811 - SUBSEQUENT EVENTS

Subsequent to SeptemberJune 30, 2015,2016, the Company converted $44,211issued an aggregate of the convertible promissory notes described in Note 5 into 62,042,070140,800,000 shares of its common stock.

stock for the conversion of notes payable and accrued interest. The Company has evaluated subsequent events for the period of SeptemberJune 30, 20152016 through the date the financial statements were issued, and concluded there were no other events or transactions occurring during this period that required recognition or disclosure in its financial statements.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

You should read the following discussion of the company's financial condition and results of operations in conjunction with the audited financial statements and related notes included in the filing of the company’s latest annual 10-K. This discussion may contain forward-looking statements, including, without limitation, statements regarding our expectations, beliefs, intentions, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language. Actual results could differ materially from those projected in the forward looking statements. We caution you that Start Scientific’ business and financial performance is subject to substantial risks and uncertainties.

Overview

Prior to April 2012, we were a reseller of technology-related hardware and software, including laptops, desktops, networking devices, telecommunication systems and networks, servers and software. In April, 2012 in connection with the acquisition of two separate one-fourth (1/4) working interests in certain oil and gas leases located in Yazoo County, Mississippi, our principal business became the exploration, development, and production of oil and gas interests.

On May 16, 2012,January 2, 2015, the Company entered into an agreementa Farmout Agreement with BPS Operating Services LLC, located in Jackson, Mississippi. The Company has until April 1, 2015 to acquire alltender $500,000 for the first well to be drilled. The production interest includes 40 acres around the new well and the Company will earn a 75% working interest before payout, and a 60% working interest after payout. All of the outstanding shares of Carpathian Energy SRL (“Carpathian”),production facilities, salt water disposal systems, and 33 well bores are in exchangeplace. The Company may drill additional wells for 90,000,000 shares of restricted common stock of the Company. Carpathian is a Romanian limited liability company engaged in oil and gas exploration and development. Pursuant to the terms of agreement, the current owners of Carpathian may rescind the Acquisition and reclaim the shares of Carpathian in the event that the Company does not invest at least $5 million toward development of Carpathian’s oil and gas assets$400,000 per well within 60 days fromof completion of each previously drilled well completion. No payments towards this Farmout Agreement have been made yet by the Company as of the date of the agreement. In addition, since the acquisition is being acquired with shares issued to an entity under common control, the assets were recorded at a nominal historical cost in accordance with ASC Topic 805-50-05-4. As of March 31, 2014,this quarterly report.

On January 21, 2015, the Company has issued 90,000,000 sharesentered into a Farmout Agreement with Durban Energy, Inc., located in Jackson, Mississippi. The Company will receive 100% of the net revenue until payout of all costs, at which time the Company will assign a 25% working interest to Durban and partners. There is a 30% royalty burden on the current ownersleases, which means that before payout the Company will have 70% of Carpathian butnet revenue and after payout the acquisition has not closedCompany will have 52.5% of net revenue and Durban will have 17.5% of net revenue. Each well will be treated separately for payout calculation. No payments towards this Farmout Agreement have been made yet by the ownershipCompany as of Carpathian has not yet been transferred to the Company. Thus the issued shares are considered to be a prepaid deposit with a zero value.date of this quarterly report.

Results of Operations

Following is our discussion of the relevant items affecting results of operations for the periods ended SeptemberJune 30, 20152016 and 2014.2015.

Revenues. The Company generated net revenues of $-0- for the three and ninesix month periods ended SeptemberJune 30, 20152016 and 2014. The lack of revenues is mainly the result of the change in our business model from a reseller of computer hardware and software to an oil and gas exploration and development company.2015.

Salaries and Consulting Expenses.Salaries and consulting expenses consist of salaries and benefits, company paid payroll taxes and outside consulting expenses. Salaries and consulting expenses for the three months ended SeptemberJune 30, 20152016 were $-0- compared to $5,550,000$15,000 during the three months ended SeptemberJune 30, 2014.2015. Salaries and consulting expenses for the ninesix months ended SeptemberJune 30, 20152016 were $1,065,000$-0- compared to $6,531,667$1,065,000 during the ninesix months ended SeptemberJune 30, 2014.2015. For the ninesix months ended SeptemberJune 30, 2015, stock valued at $1,050,000 was issued for consulting services compared to stock valued at $6,515,000 during the nine months ended September 30, 2014.services. The stock was valued at the market price on the date of issuance. We anticipate salaries expenses to increase in the future as our activity increases.

Professional Fees.Professional fees consist of legal and accounting fees associated with the preparation, audits and reviews of the Company’s financial statements. Professional fees for the three months ended SeptemberJune 30, 20152016 were $50,919$856 compared to $45,927$55,658 during the three months ended SeptemberJune 30, 2014.2015. Professional fees for the ninesix months ended SeptemberJune 30, 2016 were $2,036 compared to $132,215 during the six months ended June 30, 2015. Due to the decrease in business activity, legal and accounting fees have decreased approximately $15,000 per month during 2016. Furthermore, the Company incurred approximately $29,000 in legal fees during the six months ended June 30, 2015 were $183,134 comparedrelated to $149,312 during the nine months ended September 30, 2014. We anticipate that professional fees will increase in the future as we more fully develop our oil and gas business.convertible debentures.

Other Selling, General and Administrative Expenses. Selling, general and administrative expenses have been comprised of advertising; occupancy and office expenses; travel and other miscellaneous administrative expenses. Selling, general and administrative expenses for the three months ended SeptemberJune 30, 20152016 were $275$-0- compared to $210$10,138 during the three months ended SeptemberJune 30, 2014.2015. Selling, general and administrative expenses for the ninesix months ended SeptemberJune 30, 2016 were $-0- compared to $10,962 during the six months ended June 30, 2015. During the six months ended June 30, 2015, were $11,237 compared to $359 during the nine months ended September 30, 2014. We expect selling, generalCompany incurred marketing and administrativeoffice expenses to increaseas it explored the change in the future.business model.

Other Income (Expense). Other income and expenses for the three months ended SeptemberJune 30, 20152016 resulted in net other expenses of $164,404$18,304 compared to net other expenseincome of $18,428$11,493 during the three months ended SeptemberJune 30, 2014.2015. Other income and expenses for the ninesix months ended SeptemberJune 30, 20152016 resulted in net other expenseincome of $316,202$36,972 compared to net other expenseexpenses of $55,005$151,798 during the ninesix months ended SeptemberJune 30, 2014.2015. Other expenses incurred were comprised primarily of interest expenses related to the promissory notes and other liabilities of the Company in the amount of $82,297$74,827 which includes the amortization of debt discount of $120,699$18,638 during the ninesix months ended SeptemberJune 30, 2015.2016. Also included in this category is the lossgain on the change in fair value of derivative liability in the amount of $26,751$111,799 during the ninesix months ended SeptemberJune 30, 2015. The Company also recorded a gain on2016. During the conversion of debt in the amount of $3,844 during the ninesix months ended SeptemberJune 30, 2015.2015, the Company incurred approximately $108,000 in costs associated with the initial setup of the convertible debentures which was recorded as interest expense. We do not anticipate any major changes in other income and expenses in the near future.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements.

Personnel

Start Scientific has two full-time employees, and other project-based contract personnel that we utilize to carry out our business. We utilize contract personnel on a continuous basis, primarily in connection with service contracts which require a high level of specialization for one or more of the service components offered. We expect to hire full-time employees in the future.

Liquidity and Capital Resources

Since inception, the Company has financed its operations through a series of loans, credit accounts with hardware vendors, and the use of Company credit to procure goods and services. As of SeptemberJune 30, 2015,2016, our primary source of liquidity consisted of $5$-0- in cash and cash equivalents. We may seek to secure additional debt or equity capital to finance substantial business development initiatives or acquire additional oil and gas resources.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a smaller reporting company we are not required to provide this information.

ITEM 4. CONTROLS AND PROCEDURES

Management’s Report on Disclosure Controls and Procedures

The Securities and Exchange Commission defines the term “disclosure controls and procedures” to mean a Company's controls and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files or submits under the Securities Exchange

Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. The Company maintains such a system of controls and procedures in an effort to ensure that all information which it is required to disclose in the reports it files under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified under the SEC's rules and forms and that information required to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding disclosure.

As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of the chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, the chief executive officer and chief financial officer concluded that the disclosure controls and procedures are designed to provide reasonable assurance of achieving the objectives of timely alerting them to material information required to be included in the Company’s periodic SEC reports and of ensuring that such information is recorded, processed, summarized and reported within the time periods specified. The Company’s chief executive officer and chief financial officer also concluded that the disclosure controls and procedures were effective as of the end of the period covered by this report to provide reasonable assurance of the achievement of these objectives.

Changes in Internal Control over Financial Reporting

There have been no significant changes in our internal controls over financial reporting that occurred during the second quarter ended SeptemberJune 30, 20152016 that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

PART II

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 1A. RISK FACTORS

As a smaller reporting company, we are not required to provide the information required by this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On March 23, 2016, the Company converted into 23,920,000 shares of common stock, $239 of a note, originally issued by the Company on April 29, 2015.

On February 4, 2016, the Company converted into 21,000,000 shares of common stock, $1,050 of a note, originally issued by the Company on January 1, 2005.

On February 4, 2016, the Company converted into 42,452,830 shares of common stock, $2,250 of a note, originally issued by the Company on March 6, 2015.

On January 29, 2014,2016, the Company converted into 20,041,333 shares of common stock, $1,202 of a note, originally issued by the Company on February 25, 2015.

On January 25, 2016, the Company converted into 19,000,000 shares of common stock, $950 of a note, originally issued by the Company on January 1, 2005.

On January 20, 2016, the Company converted into 34,591,195 shares of common stock, $5,500 of a note, originally issued by the Company on March 6, 2015.

On January 12, 2016, the Company converted into 12,000,000 shares of common stock, $600 of a note, originally issued by the Company on January 1, 2005.

On January 11, 2016, the Company converted into 15,305,777 shares of common stock, $2,755 of a note, originally issued by the Company on February 25, 2015.

On December 30, 2015, the Company converted into 14,564,041 shares of common stock, $3,275 of a note and $220 of interest, originally issued by the Company on February 25, 2015.

On December 14, 2015, the Company converted into 14,627,000 shares of common stock, $3,300 of a note and $210 of interest, originally issued by the Company on February 25, 2015.

On November 20, 2015, the Company converted into 6,792,166 shares of common stock, $3,080 of a note and $180 of interest, originally issued by the Company on February 25, 2015.

On November 16, 2015, the Company converted into 6,874,687 shares of common stock, $3,120 of a note and $180 of interest, originally issued by the Company on February 25, 2015.

On November 4, 2015, the Company converted into 13,122,579 shares of common stock, $5,774of a note, originally issued by the Company on April 29, 2015.

On October 30, 2015, the Company converted into 18,300,000 shares of common stock, $9,699 of a note, originally issued by the Company on March 6, 2015.

On October 27, 2015, the Company converted into 22,075,472 shares of common stock, $11,700 of a note, originally issued by the Company on March 6, 2015.

On October 26, 2015, the Company converted into 6,493,750 shares of common stock, $3,700 of a note and $196 of interest, originally issued by the Company on February 25, 2015.

On October 22, 2015, the Company converted into 19,622,642 shares of common stock, $10,400 of a note, originally issued by the Company on March 6, 2015.

On October 21, 2015, the Company converted into 4,418,182 shares of common stock, $3,540 of a note and $1,320 of interest, originally issued by the Company on February 10, 2015.

On October 19, 2015, the Company converted into 6,484,300 shares of common stock, $3,700 of a note and $191 of interest, originally issued by the Company on February 25, 2015.

On October 19, 2015, the Company converted into 13,145,455 shares of common stock, $14,460 of a note, originally issued by the Company on February 10, 2015.

On October 16, 2015, the Company converted into 16,037,736 shares of common stock, $8,500 of a note, originally issued by the Company on March 6, 2015.

On October 13, 2015, the Company converted into 2,333,755 shares of common stock, $2,000 of a note and$100 of interest, originally issued by the Company on February 25, 2015.

On October 1, 2015, the Company issued to a former officer and director of the Company, 20,000,000 restricted shares of common stock. The shares were issued pursuant to the conversion of $40,000 in outstanding debt held on the books and records of the Company. No solicitation was made and no underwriting discounts were given or paid in connection with this transaction. The Company believes that the issuance of shares pursuant to the Agreement was exempt from registration with the Securities and Exchange Commission pursuant to Section 4(2) of the Securities Act of 1933.

On September 14, 2015, the Company converted into 2,657,454 shares of common stock, $10,000 portion of a consulting agreement enterednote, originally issued by the Company on March 6, 2015.

On September 10, 2015, the Company converted into 4,054,054 shares of common stock, $15,000 of a note, originally issued by the Company on July 23, 2013,February 10, 2015.

On August 27, 2015, the Company converted into 519,945 shares of common stock, $3,000 portion of a note and $120 of interest, originally issued by the Company on February 25, 2015.

On August 13, 2015, Kenneth I. Denos, the Company’s controlling shareholder assigned all 100 shares of Series A Preferred Stock (the “Control Stock”) of Start Scientific, Inc. (the “Company”) to the Company’s Chief Executive Officer and Chairman Norris R. Harris. The Control Stock is not convertible into common stock but collectively hold 1,000,000,000 voting rights and are entitled to vote together with holders of common stock on all such matters upon which common stockholders may vote. As a result, Mr. Harris now holds a controlling beneficial interest in the Company and may unilaterally determine the election of the Board and other substantive matters requiring approval of the Company’s stockholders.

On April 1, 2015, the Company issued 1,000,000 restricted shares of its common stock.stock of the Company to a consultant for services rendered.

On April 7, 2014, pursuant to a consulting agreement entered into on July 23, 2013, the Company issued 500,000 restricted shares of its common stock.

On July 28, 2014, pursuant to the Company’s 2012 Equity Incentive Plan, the Board approved the issuance of an aggregate of 15,000,000 shares of the Company’s common stock to certain directors and consultants of the Company.

On February 10,29, 2015, the Company issued a promissory note in the original principal amount of $33,000$53,500 (“Note”) to a lender. The Note matures on November 12, 2015April 29, 2016 and carries an interest rate of 8%10% per annum. The Note, shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender is convertible into fully paid and non-assessable shares of common stockCommon Stock of the Company at a 45% discount to(i) the averageClosing sale price of the three lowest daily trading prices as reportedCommon Stock on the OTCQB fortrading day immediately preceding the twelve trading days previous to the conversion date.

On February 25, 2015, the Company issued a promissory note in the original principal amount of $52,500 (“Note”) to a lender. The Note matures on February 25, 2016 and carries an interest rate of 8% per annum. The Note shall at the maturity date, be due and payable in full unless converted partiallyClosing Date; or in its entirety upon the election(ii) 55% of the lender into fully paid and non-assessable shares of common stock of the Company at a 40% discount to the lowest tradingsale price as reported on the OTCQB for the fifteen prior days trading days previous toof the conversion date.

On March 6, 2015, the Company entered into a Note Purchase Agreement (the “Note Purchase”) in respect of a credit line and associated convertible debenture (“Debenture”) in the original principal amount up to $220,000. As of March 6, 2015, the Company recorded a $55,000 draw down and consideration in respect of the credit line. The Debenture matures on March 6, 2016 (the “Maturity Date”), and bears interest at the rate of 10% per annum. The Debenture, together with all interest as accrued, is convertible into shares of the Company’s common stock at a price equal to the lower of $.10 or 58% of the lowest trading price of the Company’s common stock during the 20 previous consecutive trading days. The Note Purchase and the Debenture contain representations, warranties, conditions, restrictions, and covenants of the Company that are customary in such transactions with smaller companies.

On April 29,February 25, 2015, the Company issued a promissory note in the original principal amount of $53,500$52,500 (“Note”) to a lender. The Note matures on April 29,February 25, 2016 and carries an interest rate of 10%8% per annum. The Note, shall at the maturity date, be due and payable in full unless converted partially or in its entirety upon the election of the lender is convertible into fully paid and non-assessable shares of Common Stock of the Company at 60% of the lowest trading price for the fifteen prior days trading, including the date of conversion.

On February 3, 2015, the Company issued 5,000,000 shares of its common stock to a consultant of the Company for services rendered.

On February 10, 2015, the Company issued a promissory note in the original principal amount of $33,000 (“Note”) to a lender. The Note matures on November 12, 2015 and carries an interest rate of 8% per annum. The Note, at the election of the lender is convertible into fully paid and non-assessable shares of Common Stock of the Company at a 45%55% discount to the average of the three lowest trading price as reported ondays in the OTCQB for the fifteentwelve trading days previous to the conversion date.conversion.

On August 27, 2015,Exemption From Registration Claimed

All of the Company converted a portion of a certain convertible promissory note originally issuedsales by the Company on February 26, 2015 into 519,945 shares of common stock.

On September 10, 2015, the Company converted a portion of a certain convertible promissory note originally issuedits unregistered securities were made by the Company on February 19, 2015 into 4,054,054 shares of common stock.

On September 14, 2015, the Company converted a portion of a certain convertible promissory note originally issued by the Company on March 11, 2015 into 2,657,454 shares of common stock.

With respect to the securities issuances described above, No solicitations were made and no underwriting discounts were given or paid in connection with these transactions. The Company believes that the issuance of these securities as described above were exempt from registration with the Securities and Exchange Commission pursuant toreliance upon Section 4(2) of the Securities Act of 1933.1933, as amended (the “1933 Act”). All of the individuals and/or entities listed above that purchased the unregistered securities were all known to the Company and its management, through pre-existing business relationships. All purchasers were provided access to all material information, which they requested, and all information necessary to verify such information and were afforded access to management of the Company in connection with their purchases. All purchasers of the unregistered securities acquired such securities for investment and not with a view toward distribution, acknowledging such intent to the Company. All certificates or agreements representing such securities that were issued contained restrictive legends, prohibiting further transfer of the certificates or agreements representing such securities, without such securities either being first registered or otherwise exempt from registration in any further resale or disposition.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. OTHER INFORMATION

Not applicable.

ITEM 5. EXHIBITS:

The following documents are filed as exhibits to this Form 10-Q:

INDEX TO EXHIBITS

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.