General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:      
Cash $ 368,337 $ 323,407 $ 77,211
Accounts receivable, net 319,729 79,697 151,989
Accounts receivable, related party 1,200  
Inventory 170,033 77,200 14,820
Prepaid expenses and other current assets 55,882 50,723 18,577
Costs and estimated earnings in excess of billings on uncompleted contracts 2,456  
Due from related party 29,705 5,526
Total Current Assets 947,342 536,553 262,597
OTHER ASSETS:      
Property and equipment, net 145,670 18,683 32,776
Right of use asset, net 245,552 21,772 69,808
Intangible asset, net 530,143  
Security deposit 6,482 7,132 7,132
Total Other Assets 927,847 47,587 109,716
TOTAL ASSETS 1,875,189 584,140 372,313
CURRENT LIABILITIES:      
Notes payable - related party   400,000
Convertible notes payable, net   135,833
Note payable, current portion 604,560 521,138
Accounts payable 898,036 794,905 746,663
Accrued expenses 362,910 186,765 126,986
Accrued compensation 407,172 425,797 351,708
Billing in excess of costs and estimated earnings on uncompleted contracts 22,179  
Lease liability, current portion 39,879 22,216 47,636
Derivative liability   890,410
Total Current Liabilities 2,334,736 1,950,821 2,699,236
LONG-TERM LIABILITIES:      
Note payable, net of current portion 541,356 35,062
Lease liability, net of current portion 205,673 22,216
Mandatorily redeemable convertible Series A preferred stock; $0.10 par value, 0 and 800,000 shares designated at December 31, 2020 and 2019, respectively; 0 and 159,600 shares issued and outstanding at December 31, 2020 and 2019, respectively ($0 redemption and liquidation value at December 31, 2020)   159,798
Total Long-term Liabilities 747,029 35,062 182,014
Total Liabilities 3,081,765 1,985,883 2,881,250
Commitments and Contingencies (See Note 10)
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 722 and 427 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively ($734,971 redemption and liquidation value at September 30, 2021) 734,971 429,446  
Series C convertible preferred stock: $0.10 par value, 100,000 shares designated; 18,800 and 13,300 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively ($2,864,303 redemption and liquidation value at September 30, 2021) 1,909,535 1,336,031  
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 427 and 108 shares issued and outstanding at December 31, 2020 and 2019, respectively ($429,446 redemption and liquidation value at December 31, 2020)   429,446 108,000
Series C convertible preferred stock: $0.10 par value, 100,000 shares designated; 13,300 and 0 shares issued and outstanding at December 31, 2020 and 2019, respectively ($2,004,046 liquidation value at December 31, 2020)   1,336,031
SHAREHOLDERS’ DEFICIT:      
Preferred stock: $0.10 par value, 2,000,000 shares authorized; 100,000 Series B and 100,000 Series C designated  
Common stock: $0.001 par value, 4,998,000,000 shares authorized; 228,346,974 and 116,749,633 issued and outstanding at December 31, 2020 and 2019, respectively   228,347 116,750
Preferred stock: $0.10 par value, 2,000,000 shares authorized; 100,000 Series B and 100,000 Series C designated Common stock: $0.001 par value, 4,998,000,000 shares authorized; 274,048,481 and 228,346,974 issued and outstanding at September 30, 2021 and December 31, 2020, respectively 274,049 228,347  
Additional paid-in capital 52,130,242 42,573,272 37,266,328
Accumulated deficit (56,325,555) (45,968,839) (40,000,015)
Total C-Bond Systems, Inc. shareholders’ deficit (3,921,264) (3,167,220) (2,616,937)
Noncontrolling Interest 70,182  
Total Shareholders’ Deficit (3,851,082) (3,167,220) (2,616,937)
Total Liabilities and Shareholders' Deficit $ 1,875,189 $ 584,140 $ 372,313