Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.3
Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash $ 1,133,129 $ 97,091
Accounts receivable, net 270,803 269,442
Inventory 110,339 77,446
Prepaid expenses and other current assets 34,863 71,171
Contract assets 279
Total Current Assets 1,549,134 515,429
OTHER ASSETS:    
Property and equipment, net 183,886 96,306
Right of use asset, net 172,754 375,412
Intangible asset, net 242,040 279,918
Goodwill 350,491 350,491
Security deposit 6,482
Total Other Assets 949,171 1,108,609
TOTAL ASSETS 2,498,305 1,624,038
CURRENT LIABILITIES:    
Convertible note payable, net of discount - current portion 1,031,250 1,031,250
Notes payable, net of discount - current portion 80,695 1,576,438
Accounts payable 724,603 779,765
Accrued expenses 405,995 736,393
Accrued compensation 385,423 590,632
Contract liabilities 136,427 22,637
Lease liabilities, current portion 59,548 117,671
Total Current Liabilities 2,824,327 4,864,813
LONG-TERM LIABILITIES:    
Convertible notes payable, net of current portion 251,263
Notes payable, net of current portion and discount 59,869 208,804
Lease liabilities, net of current portion 113,206 258,895
Total Long-term Liabilities 173,075 968,962
Total Liabilities 2,997,402 5,833,775
Commitments and Contingencies (See Note 10)
SHAREHOLDERS’ DEFICIT:    
Preferred stock: $0.10 par value, 2,000,000 shares authorized; 100,000 Series B and 100,000 Series C designated, none issued and outstanding
Common stock: $0.001 par value, 4,998,000,000 shares authorized; 532,818,051 and 350,270,172 issued and outstanding at September 30, 2023 and December 31, 2022, respectively 532,818 350,270
Additional paid-in capital 55,852,477 55,141,503
Accumulated deficit (59,840,149) (62,693,184)
Total C-Bond Systems, Inc. shareholders’ deficit (3,454,854) (7,201,411)
Noncontrolling interest 144,037 150,742
Total Shareholders’ Deficit (3,310,817) (7,050,669)
Total Liabilities and Shareholders’ Deficit 2,498,305 1,624,038
Series B Convertible Preferred Stock    
LONG-TERM LIABILITIES:    
Convertible preferred stock value 1,198,197 1,037,201
Series C Convertible Preferred Stock    
LONG-TERM LIABILITIES:    
Convertible preferred stock value 1,613,523 1,803,731
Related Party    
CURRENT LIABILITIES:    
Accrued interest payable - related party 386 10,027
LONG-TERM LIABILITIES:    
Note payable - related party $ 250,000