Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 11,016 $ 119,678
Accounts receivable 12,355 19,880
Inventory 54,153 198,595
Other current assets 45,943 158,836
Total current assets 123,467 496,989
Other assets 179,927 147,194
Right-of-use assets 425,969
Security deposits 1,449,808 1,255,988
Fixed assets, net 988,536 1,003,013
Total Assets 3,167,707 2,903,184
Current liabilities:    
Accounts payable 798,067 480,146
Accrued expenses 948,458 457,762
Deferred revenues 11,808 30,164
Dividends payable 137,843 98,920
Current portion of lease liabilities 86,235
Convertible notes payable, net of $-0- and $412,673 of debt discounts at December 31, 2022 and 2021, respectively 750,000 337,327
Notes payable, current maturities 145,524 119,274
Notes payable, related parties, current maturities 99,500
Total current liabilities 2,977,435 1,523,593
Long-term lease liability 341,680
Notes payable, long-term portion 700,000
Notes payable, related parties, long-term portion 200,000 200,000
Total Liabilities 4,219,115 1,723,593
Stockholders’ Equity (Deficit):    
Preferred stock, $0.001 par value, 9,200,000 shares authorized; no shares issued and outstanding at December 31, 2022 and 2021, respectively
Common stock, $0.001 par value, 300,000,000 shares authorized; 67,202,907 and 65,599,565 shares issued and outstanding at December 31, 2022 and 2021, respectively 67,203 65,600
Additional paid-in capital 17,123,603 16,843,656
Subscriptions payable, consisting of -0- and 262,066 shares at December 31, 2022 and 2021, respectively 21,725
Accumulated other comprehensive loss (50,699) (64,347)
Accumulated (deficit) (22,976,365) (19,916,888)
Total Stockholders’ Equity (Deficit) (5,836,258) (3,050,254)
Total Liabilities and Stockholders’ Equity (Deficit) 3,167,707 2,903,184
Series A Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock value 702,330 652,330
Series B Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock value $ 4,082,520 $ 3,577,515