Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

v3.19.2
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 664,645 $ 1,960
Accounts receivable 69,914 0
Accounts receivable - related party 40,519 0
Inventory 1,047,781
Advance to supplier - related party 820,108 0
Prepaid expenses and other current assets 301,557 12,330
Total current assets 2,944,524 14,290
Other Assets:    
Property and equipment, net 373,531 0
Intangible assets, net 2,640,645 0
Operating lease right-of-use assets, net 467,036 0
Total other assets 3,481,212 0
TOTAL ASSETS 6,425,736 14,290
Current Liabilities:    
Accounts payable 1,028,828 923,429
Accrued expenses 43,637 46,875
Note payable - related parties 27,500 51,400
Subscription payable 500,000 0
Convertible notes, net of discounts 0 491,788
Derivative liability 0 1,742,000
Settlement payable 1,700 17,000
Interest payable 10,130 66,300
Due to related party 30,000 0
Operating lease liabilities, current portion 161,617 0
Total current liabilities 1,818,712 3,338,792
Long Term Liabilities:    
Convertible notes payable 100,000 100,000
Operating lease liabilities, long-term portion 305,419 0
Total long term liabilities 405,419 100,000
TOTAL LIABILITIES 2,224,131 3,438,792
Commitments and contingencies  
Exactus Inc. Stockholders' Equity (Deficit)    
Common stock: 650,000,000 shares authorized; $0.0001 par value, 34,431,265 and 6,233,524 shares issued and outstanding, respectively 443 623
Common stock to be issued (3,130,256 and none shares to be issued, respectively) 313 0
Additional paid-in capital 18,156,387 7,111,445
Accumulated deficit (13,771,831) (10,537,892)
Total Exactus Inc. Stockholders' Equity (Deficit) 4,389,553 (3,424,502)
Non-controlling interest in subsidiary (187,948) 0
Total Equity (Deficit) 4,201,605 (3,424,502)
TOTAL LIABILITIES AND EQUITY (DEFICIT) 6,425,736 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