Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash $ 84,709 $ 11,016
Accounts receivable 10,682 12,355
Inventory 279,190 54,153
Other current assets 73,296 45,943
Total current assets 447,877 123,467
Other assets 186,950 179,927
Right-of-use assets 403,727 425,969
Security deposits 50,411 1,449,808
Fixed assets, net 2,385,138 988,536
Total Assets 3,474,103 3,167,707
Current liabilities:    
Accounts payable 747,723 798,067
Accrued expenses 1,119,725 948,458
Deferred revenues 10,114 11,808
Dividends payable 150,616 137,843
Current portion of lease liabilities 88,612 86,235
Convertible notes payable 750,000 750,000
Notes payable, related parties, current maturities 151,277 145,524
Total current liabilities 3,117,567 2,977,435
Long-term lease liability 318,556 341,680
Notes payable, related parties, long-term portion 700,000 700,000
Total Liabilities 4,336,123 4,219,115
Stockholders’ Equity (Deficit):    
Preferred stock, $0.001 par value, 9,200,000 shares authorized; no shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively
Common stock, $0.001 par value, 300,000,000 shares authorized; 70,202,907 and 67,202,907 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 70,203 67,203
Additional paid-in capital 17,445,960 17,123,603
Accumulated other comprehensive income (loss) 134,270 (50,699)
Accumulated (deficit) (23,492,303) (22,976,365)
Total Stockholders’ Equity (Deficit) (5,841,870) (5,836,258)
Total Liabilities and Stockholders’ Equity (Deficit) 3,474,103 3,167,707
Series A Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock value 897,330 702,330
Series B Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock value 4,082,520 4,082,520
Nonrelated Party [Member]    
Current liabilities:    
Notes payable, related parties, current maturities 151,277 145,524
Notes payable, related parties, long-term portion 700,000 700,000
Related Party [Member]    
Current liabilities:    
Notes payable, related parties, current maturities 99,500 99,500
Notes payable, related parties, long-term portion $ 200,000 $ 200,000