Balance Sheet

v3.20.1
Condensed Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 18,405 $ 1,960
Accounts receivable, net 55,725 0
Accounts receivable - related party 18,860 0
Inventory 1,337,809 0
Prepaid expenses and other current assets 248,776 12,330
Prepaid expenses and other current assets - related party 622,160 0
Due from related parties 127,500 0
Total current assets 2,429,235 14,290
Other Assets:    
Deposits 80,000 0
Prepaid expenses and other current assets - related party - long-term 2,492,045 0
Property and equipment, net 477,433 0
Intangible assets, net 2,147,311 0
Operating lease right-of-use assets, net 2,173,253 0
Total other assets 7,370,042 0
TOTAL ASSETS 9,799,277 14,290
Current Liabilities:    
Accounts payable 1,442,409 923,429
Accounts payable - related party 454,511 0
Accrued expenses 358,010 46,875
Unearned revenue - related party 215,000 0
Note payable - related parties 55,556 51,400
Subscription payable 250,000 0
Convertible notes, net of discounts 85,906 491,788
Derivative liability 880,410 1,742,000
Settlement payable 0 17,000
Interest payable 16,677 66,300
Operating lease liabilities, current portion 432,065 0
Total current liabilities 4,190,544 3,338,792
Long Term Liabilities:    
Convertible notes payable 100,000 100,000
Operating lease liabilities, long-term portion 1,826,887 0
Total long-term liabilities 1,926,887 100,000
TOTAL LIABILITIES 6,117,431 3,438,792
Commitments and contingencies
Stockholders' Equity (Deficit):    
Preferred stock 0 0
Common stock: 650,000,000 shares authorized; $0.0001 par value, 3,819,325 and 6,233,524 shares issued and outstanding, respectively 4,382 623
Common stock to be issued (664,580 and none shares to be issued, respectively) 66 0
Additional paid-in capital 25,343,293 7,111,445
Accumulated deficit (21,129,379) (10,537,892)
Total Exactus Inc. Stockholders' Equity (Deficit) 4,219,315 (3,424,502)
Non-controlling interest in subsidiary (537,469) 0
Total Stockholders' Equity (Deficit) 3,681,846 (3,424,502)
TOTAL LIABILITIES AND EQUITY (DEFICIT) 9,799,277 14,290
Series A Preferred Stock    
Stockholders' Equity (Deficit):    
Preferred stock 35 0
Series B-1 Preferred Stock    
Stockholders' Equity (Deficit):    
Preferred stock 165 280
Series B-2 Preferred Stock    
Stockholders' Equity (Deficit):    
Preferred stock 752 868
Series C Preferred Stock    
Stockholders' Equity (Deficit):    
Preferred stock 0 173
Series D Preferred Stock    
Stockholders' Equity (Deficit):    
Preferred stock 0 1
Series E Preferred Stock    
Stockholders' Equity (Deficit):    
Preferred stock $ 1 $ 0

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