Income Statement

v3.20.1
Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
Net revenues $ 183,234 $ 0
Net revenues - related party 162,446 0
Net revenues 345,680 0
Cost of sales 1,939,382 0
Cost of sales - related party 106,752 0
Total cost of sales 2,046,134 0
Gross profit (1,700,454) 0
Operating Expenses:    
General and administration 3,272,198 1,914,571
Selling and marketing expenses 948,296 18,036
Professional and consulting 4,935,394 203,619
Research and development 22,100 300,000
Total operating expenses 9,177,988 2,436,226
Loss from Operations (10,878,442) (2,436,226)
Other Income (Expenses):    
Derivative loss (1,871,583) (828,694)
Loss on stock settlement 0 (607,929)
Gain on settlement of debt 3,004,630 0
Interest expense (479,111) (464,470)
Total Other Income (expenses), net 653,936 (1,901,093)
Loss Before Provision for Income Taxes (10,224,506) (4,337,319)
Provision for income tax 0 0
Net Loss (10,224,506) (4,337,319)
Net Loss attributable to non-controlling interest 537,469 0
Net Loss Attributable to Exactus, Inc. (9,687,037) (4,337,319)
Deemed dividend on Preferred Stock (904,450) 0
Net Loss available to Exactus, Inc. common stockholders $ (10,591,487) $ (4,337,319)
Net Loss per Common Share - Basic and Diluted $ (.30) $ (.91)
Net Loss attributable to non-controlling interest per Common Share - Basic and Diluted .02 .00
Net Loss available to Exactus, Inc. common stockholders per Common Share - Basic and Diluted $ (.31) $ (.91)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted 33,899,585 4,764,056

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