Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 346,365 $ 785,363
Accounts receivable 20,079 16,922
Inventory 155,852 146,090
Advances to officers 16,941
Prepaid expenses and other current assets 120,511 166,458
TOTAL CURRENT ASSETS 642,807 1,131,774
Property and equipment, net 121,112 122,979
Intangible assets, net 10,728,269 10,920,577
Goodwill 913,184 913,184
Operating lease right-of-use asset - LT 144,380 191,702
Other long-term assets 90,000 95,000
TOTAL ASSETS 12,639,752 13,375,216
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 2,761,878 2,987,264
Accounts payable and accrued expenses - related party 75,000 75,000
Accrued Interest 543,222 356,998
Convertible notes payable - short term 337,000 337,000
Notes payable 300,000 320,000
Loans payable 6,667 6,667
Notes payable - related party 155,947 155,989
Operating lease liability, current portion 75,814 104,591
TOTAL CURRENT LIABILITIES: 4,255,528 4,343,509
Convertible notes payable, net 10,802,005 9,635,551
Operating lease liability, net of current portion 71,099 91,089
TOTAL LIABILITIES 15,128,632 14,070,149
Commitments and contingencies
STOCKHOLDERS’ DEFICIT    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively
Common stock, $0.001 par value; 200,000,000 shares authorized, 50,578,003 and 50,217,308 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively 50,578 50,217
Additional paid in capital 21,902,942 21,537,763
Accumulated deficit (24,438,861) (22,278,923)
Accumulated other comprehensive loss (3,539) (3,990)
TOTAL STOCKHOLDERS’ DEFICIT (2,488,880) (694,933)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 12,639,752 $ 13,375,216