Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Operations and Comprehensive Loss (Unaudited)

v3.20.2
Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Net revenues $ 520,200 $ 15,980
Net revenues - related party 315,800 0
Net revenues 836,000 15,980
Cost of sales 1,042,473 12,600
Cost of sales - related party 357,783 0
Total cost of sales 1,400,256 12,600
Gross profit (564,256) 3,380
Operating Expenses:    
General and administration 1,184,006 652,209
Selling and marketing expenses 280,890 51,878
Professional and consulting 727,871 1,880,147
Research and development 0 15,000
Total operating expenses 2,192,767 2,599,234
Loss from Operations (2,757,023) (2,595,854)
Other Income (Expenses):    
Derivative gain (loss) 106,486 (1,454,729)
(Loss) gain on settlement of debt, net (6,500) 3,007,629
Interest expense (288,466) (366,913)
Total Other Income (Expenses), net (188,480) 1,185,987
Loss Before Provision for Income Taxes (2,945,503) (1,409,867)
Provision for income tax 0 0
Net Loss (2,945,503) (1,409,867)
Net Loss attributable to non-controlling interest 155,819 35,604
Net Loss Attributable to Exactus, Inc. (2,789,684) (1,374,263)
Deemed dividend on Preferred Stock 0 (904,450)
Net Loss available to Exactus, Inc. common stockholders $ (2,789,684) $ (2,278,713)
Net Loss per Common Share - Basic and Diluted $ (0.07) $ (0.07)
Net Loss attributable to non-controlling interest per Common Share - Basic and Diluted (0.00) 0
Net Loss available to Exactus, Inc. common stockholders per Common Share - Basic and Diluted $ (0.06) $ (0.12)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted 45,293,865 19,485,557