"We are America's most transparent public company"
So, now you know. It's odd that he never mentions the balance sheet of this Nasdaq-listed wannabe so I'll help his commitment to transparency with a reminder of a recent filing:
ITEM 1. FINANCIAL STATEMENTS
June 30,
2021 December 31,
2020
(Unaudited)
ASSETS
CURRENT ASSETS
Cash $ 537,209 $ 409,591
Restricted cash - Preferred shares 1,600 6,530
Contracts receivable 424,550 438,430
Contract assets 212,234 148,734
Inventory assets 2,850
-
Other receivable 2,599 3,799
Prepaid expenses 7,959 52,728
TOTAL CURRENT ASSETS 1,189,001 1,059,812
NET PROPERTY AND EQUIPMENT 235,075 258,206
OTHER ASSETS
Long term asset for sale 630,000
-
Fair value investment-securities 48,400 8,000
Trademark 4,467 4,467
TOTAL OTHER ASSETS 682,867 12,467
TOTAL ASSETS $ 2,106,943 $ 1,330,485
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and other payable $ 1,041,507 $ 1,304,803
Accrued expenses 1,529,110 1,542,816
Cumulative preferred stock dividends payable 348,074 256,274
Contract liabilities 301,116 340,551
Capital lease, current portion 9,088 9,088
Customer deposit 146,453 146,453
Warranty reserve 20,000 20,000
Loan payable, merchant cash advance 336,646 342,896
Loan payable, related party
-
94,883
Loans payable, SBA 505,000 505,000
Derivative liabilities 36,309,795 12,310,307
Series F 8% Preferred Stock, 160 and 175 shares issued and outstanding, redeemable value of $160,000 and $175,000 respectively 160,000 175,000
Series F 8% Preferred Stock, 100 shares issued and outstanding, redeemable value of $100,000 and $100,000 respectively 100,000 100,000
Series G 8% Preferred Stock, 50 and 430 shares issued and outstanding, respectively, redeemable value of $50,000 and $430,000, respectively 50,000 430,000
Series I 8% Preferred Stock, 330 and 797 shares issued and outstanding, respectively, redeemable value of $330,000 and $797,400, respectively 330,000 797,400
Series K 8% Preferred Stock, 1,219 and 3,160 shares issued and outstanding, respectively, redeemable value of $1,218,650 and $3,160,417, respectively 1,218,650 3,160,417
Convertible promissory notes, net of discount of $39,177 and $17,929, respectively 2,110,603 1,223,228
Total Current Liabilities 44,516,042 22,759,116
Long Term Liabilities
Capital lease, long term portion 3,441 7,985
Convertible promissory notes, net of discount of $0 and $0, respectively 932,275 1,877,275
Total Long Term Liabilities 935,716 1,885,260
Total Liabilities 45,451,758 24,644,376
COMMITMENTS AND CONTINGENCIES (See Note 11)
-
-
Series J Convertible Preferred Stock, 225 and 273 shares issued and outstanding, respectively, redeemable value of $225,000 and $272,500, respectively 225,000 272,500
Series L Convertible Preferred Stock, 660 and 1,132 shares issued and outstanding, respectively redeemable value of $659,825 and $1,132,084 659,825 1,132,084
Series M Preferred Stock, 40,340 and 42,213 shares issued and outstanding, respectively, redeemable value of $1,009,750 and $1,060,325, respectively 1,009,750 1,060,325
Series O 8% Convertible Preferred Stock, 835 and 1,995 shares issued and outstanding, respectively, redeemable value of $835,000 and $1,995,000, respectively 835,000 1,995,000
Series P Convertible Preferred Stock, 81 and 357 shares issued and outstanding, respectively redeemable value of $81,250 and $356,500, respectively 81,250 356,500
Series Q 12% Convertible Preferred Stock, 830 and 1,025 shares issued and outstanding, respectively, redeemable value of $830,000 and $1,025,000, respectively 830,000 1,025,000
Series R 10% Convertible Preferred Stock, 4,485 and 490 shares issued and outstanding, respectively, redeemable value of $4,485,017 and $490,000, respectively 4,485,017 490,000
Series S 10% Convertible Preferred Stock, 280 and 0 shares issued and outstanding, respectively, redeemable value of $280,000 and $0, respectively 280,000
-
Series T 10% Convertible Preferred Stock, 630 and 0 shares issued and outstanding, respectively, redeemable value of $630,000 and $0, respectively 630,000 -
Series U Convertible Preferred Stock, 50 and 0 shares issued and outstanding, respectively, redeemable value of $50,000 and $0, respectively 50,000 -
Series W 12% Convertible Preferred Stock, 270 and 0 shares issued and outstanding, respectively, redeemable value of $270,000 and $0, respectively 270,000 -
9,355,842 6,331,409
SHAREHOLDERS’ DEFICIT
Preferred stock, $0.0001 par value, 550,000,000 shares authorized 1,000 shares of Series C issued and outstanding, respectively
-
-
31,500,000 and 32,500,000 shares of Series D-1 issued and outstanding, respectively 3,150 3,250
1,537,213 shares of Series E issued and outstanding, respectively 154 154
Subscription payable to purchase 100,000 100,000
Preferred treasury stock,1,000 and 1,000 shares outstanding, respectively
-
-
Common stock, $0.0001 par value, 16,000,000,000 shares authorized 180,137,993 and 65,052,688 equity shares issued and outstanding, respectively 18,014 6,505
Additional paid in capital - Common stock 71,997,378 64,265,217
Accumulated other comprehensive loss (132 ) (132 )
Accumulated deficit (124,819,221 ) (94,020,294 )
TOTAL SHAREHOLDERS’ DEFICIT (52,700,657 ) (29,645,300 )
