Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

v3.19.1
Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 1,172,915 $ 1,960
Inventory 422,819 0
Advance to supplier - related party 1,017,225 0
Prepaid expenses and other current assets 58,580 12,330
Total current assets 2,671,539 14,290
Other Assets:    
Property and equipment 28,500 0
Intangible assets and other, net 2,887,312 0
Operating lease right-of-use assets, net 302,677 0
Total other assets 3,218,489 0
TOTAL ASSETS 5,890,028 14,290
Current Liabilities:    
Accounts payable 1,156,991 923,429
Accrued expenses 15,314 46,875
Note payable - related parties 27,500 51,400
Subscription payable 1,650,000 0
Convertible notes, net of discounts 0 491,788
Derivative liability 0 1,742,000
Settlement payable 17,000 17,000
Interest payable 8,335 66,300
Operating lease liabilities, current portion 93,961 0
Total current liabilities 2,969,101 3,338,792
Long Term Liabilities:    
Convertible notes payable 100,000 100,000
Operating lease liabilities, long-term portion 208,716 0
Total long term liabilities 308,716 100,000
TOTAL LIABILITIES 3,277,817 3,438,792
Commitments and contingencies (see note 9)
Exactus Inc. Stockholders' Equity (Deficit):    
Preferred stock 0 0
Common stock: 650,000,000 shares authorized; $0.0001 par value, 33,149,090 and 6,233,524 shares issued and outstanding, respectively 3,315 623
Additional paid-in capital 15,459,864 7,111,445
Accumulated deficit (12,816,605) (10,537,892)
Total Exactus Inc. Stockholders' Equity (Deficit) 2,647,815 (3,424,502)
Non-controlling interest in subsidiary (35,604) 0
Total Equity (Deficit) 2,612,211 (3,424,502)
TOTAL LIABILITIES AND EQUITY (DEFICIT) 5,890,028 14,290
Series A Preferred Stock    
Exactus Inc. Stockholders' Equity (Deficit):    
Preferred stock 60 0
Series B-1 Preferred Stock    
Exactus Inc. Stockholders' Equity (Deficit):    
Preferred stock 240 280
Series B-2 Preferred Stock    
Exactus Inc. Stockholders' Equity (Deficit):    
Preferred stock 768 868
Series C Preferred Stock    
Exactus Inc. Stockholders' Equity (Deficit):    
Preferred stock 173 173
Series D Preferred Stock    
Exactus Inc. Stockholders' Equity (Deficit):    
Preferred stock $ 0 $ 1