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 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net revenues $ 531,240 $ 99,164 $ 1,051,440 $ 115,144
Net revenues - related party 0 40,519 315,800 40,519
Net revenues 531,240 139,683 1,367,240 155,663
Cost of sales 562,270 0 1,604,743 0
Cost of sales - related party 60,000 103,187 417,783 115,787
Total cost of sales 622,270 103,187 2,022,526 115,787
Gross profit (loss) (91,030) 36,496 (655,286) 39,876
Operating Expenses:        
General and administration 760,306 622,079 1,820,893 1,274,288
Selling and marketing expenses 132,110 176,602 413,000 228,480
Professional and consulting 552,197 330,891 1,280,068 2,211,038
Research and development 0 11,975 0 26,975
Total operating expenses 1,444,613 1,141,547 3,513,961 3,740,781
Loss from Operations (1,535,643) (1,105,051) (4,169,247) (3,700,905)
Other Income (Expenses):        
Derivative gain (loss) 249,982 0 356,468 (1,454,729)
Gain on extinguishment of debt, net 39,142 0 39,142 0
(Loss) gain on settlement of debt, net (16,500) 0 (23,000) 3,007,629
Interest expense (420,675) (2,519) (709,141) (369,432)
Total Other Income (Expenses), net (148,051) (2,519) (336,531) 1,183,468
Loss Before Provision for Income Taxes (1,683,694) (1,107,570) (4,505,778) (2,517,437)
Provision for income tax 0 0 0 0
Net Loss (1,683,694) (1,107,570) (4,505,778) (2,517,437)
Net Loss attributable to non-controlling interest 154,624 152,344 310,443 187,948
Net Loss Attributable to Exactus, Inc. (1,529,070) (955,226) (4,195,335) (2,329,489)
Deemed dividend on Preferred Stock 0 0 0 (904,450)
Net Loss available to Exactus, Inc. common stockholders $ (1,529,070) $ (955,226) $ (4,195,335) $ (3,233,939)
Net Loss per Common Share - Basic and Diluted $ (0.03) $ (0.03) $ (0.10) $ (0.09)
Net Loss attributable to non-controlling interest per Common Share - Basic and Diluted (0.00) (0.00) (0.01) (0.01)
Net Loss available to Exactus, Inc. common stockholders per Common Share - Basic and Diluted $ (0.03) $ (0.03) $ (0.09) $ (0.12)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted 48,203,183 35,203,356 46,757,076 27,227,822