Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash $ 54,797 $ 119,678
Accounts receivable 26,753 19,880
Inventory 315,722 198,595
Other current assets 231,194 306,030
Total current assets 628,466 644,183
Right-of-use assets 1,483,218
Security deposits 1,532,055 1,255,988
Fixed assets, net 1,021,557 1,003,013
Total Assets 4,665,296 2,903,184
Current liabilities:    
Accounts payable 675,150 480,146
Accrued expenses 678,161 457,762
Deferred revenues 33,510 30,164
Dividends payable 118,025 98,920
Current portion of lease liabilities 106,999
Convertible notes payable, net of $125,389 and $412,673 of debt discounts at June 30, 2022 and December 31, 2021, respectively 624,611 337,327
Notes payable, current maturities 152,636 119,274
Notes payable, related parties, current maturities 40,000
Total current liabilities 2,429,092 1,523,593
Long-term lease liability 1,389,982
Notes payable, long-term portion 700,000
Notes payable, related parties, long-term portion 200,000 200,000
Total Liabilities 4,719,074 1,723,593
Convertible preferred stock value
Stockholders’ Equity (Deficit):    
Preferred stock, $0.001 par value, 9,200,000 shares authorized; no shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively
Common stock, $0.001 par value, 300,000,000 shares authorized; 65,861,631 and 65,599,565 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 65,862 65,600
Additional paid-in capital 16,928,274 16,843,656
Subscriptions payable, consisting of 262,066 shares at December 31, 2021 21,725
Accumulated other comprehensive loss (59,875) (64,347)
Accumulated (deficit) (21,217,884) (19,916,888)
Total Stockholders’ Equity (Deficit) (4,283,623) (3,050,254)
Total Liabilities and Stockholders’ Equity (Deficit) 4,665,296 2,903,184
Series A Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock value 652,330 652,330
Series B Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock value $ 3,577,515 $ 3,577,515