Balance Sheet

v3.19.3
Condensed Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 5,686 $ 1,960
Accounts receivable, net 75,626 0
Accounts receivable - related party 52,659 0
Inventory 2,332,890 0
Prepaid expenses and other current assets 166,149 12,330
Prepaid expenses and other current assets - related party - current 622,159 0
Total current assets 3,255,169 14,290
Other Assets:    
Deposits 40,000 0
Prepaid expenses and other current assets - related party – long-term 2,648,864  
Property and equipment, net 549,483 0
Intangible assets, net 2,668,005 0
Operating lease right-of-use assets, net 2,287,682 0
Total other assets 8,194,034 0
TOTAL ASSETS 11,449,203 14,290
Current Liabilities:    
Accounts payable 1,131,883 923,429
Accounts payable - related party 8,342 0
Accrued expenses 81,693 46,875
Note payable - related parties 6,500 51,400
Subscription payable 282,500 0
Convertible notes, net of discounts 0 491,788
Derivative liability 0 1,742,000
Settlement payable 0 17,000
Interest payable 8,148 66,300
Due to related party 105,500 0
Operating lease liabilities, current portion 427,888 0
Total current liabilities 2,052,454 3,338,792
Long Term Liabilities:    
Convertible notes payable 100,000 100,000
Operating lease liabilities, long-term portion 1,902,073 0
Total long term liabilities 2,002,073 100,000
TOTAL LIABILITIES 4,054,527 3,438,792
Commitments and contingencies (see note 10)
Equity (Deficit):    
Preferred stock 0 0
Common stock: 650,000,000 shares authorized; $0.0001 par value, 40,024,389 and 6,233,524 shares issued and outstanding, respectively 4,002 623
Common stock to be issued (596,249 and none shares to be issued, respectively) 60 0
Additional paid-in capital 23,457,433 7,111,445
Accumulated deficit (15,706,198) (10,537,892)
Total Exactus Inc. Stockholders' Equity (Deficit) 7,756,304 (3,424,502)
Non-controlling interest in subsidiary (361,628) 0
Total Equity (Deficit) 7,394,676 (3,424,502)
TOTAL LIABILITIES AND EQUITY (DEFICIT) 11,449,203 14,290
Series A Preferred Stock    
Equity (Deficit):    
Preferred stock 58 0
Series B-1 Preferred Stock    
Equity (Deficit):    
Preferred stock 180 280
Series B-2 Preferred Stock    
Equity (Deficit):    
Preferred stock 768 868
Series C Preferred Stock    
Equity (Deficit):    
Preferred stock 0 173
Series D Preferred Stock    
Equity (Deficit):    
Preferred stock 0 1
Series E Preferred Stock    
Equity (Deficit):    
Preferred stock $ 1 $ 0

Source