Thought this was more interesting for a 100m marketcap company LMFAO
Gross profit $23,462 (national roll out Q1 results)
Liabilities - $ 1,454,116
On April 5, 2023, the holder of the Convertible Series C Preferred Stock converted 150,000 shares of the Company’s Series C Preferred Stock into 3,000,000 shares of the Company’s common shares. CONBOY
Our Company generated $28,355 and $41,468 revenue for the three months ended June 30, 2023 and 2022, respectively. The Company’s revenue is associated with revenue from MFB which was acquired in April 2022.
As a result of the foregoing, we incurred a net loss of - $356,058, for the three months ended June 30, 2023,
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the six months ended June 30, 2023, net cash flows used in operating activities was $423,890, consisting of a net loss of $709,669, reduced by stock-based compensation of $146,850,
For the six months ended June 30, 2022, net cash flows used in operating activities was $274,274, consisting of a net loss of $2,350,853,
Note 9 – Subscription Received – Shares to be issued
During the six months ended June 30,2023, the Company received subscriptions of $179,600 for 74,833 shares of Convertible Series C Preferred Stock.
As of June 30, 2023, 74,833 shares of Convertible Series C Preferred stock for a value of $179,600 were yet to be issued.
As of June 30, 2023, and December 31, 2022, the Company was obliged to related parties, for unsecured, non-interest-bearing demand loans with a balance of $1,355,989
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