Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash $ 196,315 $ 736,461
Accounts receivable, net 243,369 424,091
Inventory 162,052 181,663
Prepaid expenses and other current assets 107,807 28,503
Due from related party 71,961
Contract assets 59,856 2,400
Total Current Assets 841,360 1,373,118
OTHER ASSETS:    
Property and equipment, net 147,842 171,606
Right of use asset, net 128,722 158,484
Intangible asset, net 204,163 229,414
Goodwill 350,491 350,491
Total Other Assets 831,218 909,995
TOTAL ASSETS 1,672,578 2,283,113
CURRENT LIABILITIES:    
Convertible note payable - current portion 180,000 180,000
Notes payable, net of discount - current portion 474,014 81,908
Accounts payable 798,827 710,222
Accrued expenses 390,258 474,515
Accrued compensation 54,462 717,204
Contract liabilities 148,784 500,720
Lease liabilities, current portion 60,773 60,503
Total Current Liabilities 2,107,118 2,725,072
LONG-TERM LIABILITIES:    
Convertible notes payable, net of current portion 828,091 918,091
Notes payable, net of current portion and discount 33,477 42,109
Lease liabilities, net of current portion 67,949 97,249
Total Long-term Liabilities 929,517 1,057,449
Total Liabilities 3,036,635 3,782,521
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, no shares issued and outstanding
Common stock: $0.001 par value, 4,998,000,000 shares authorized; 545,253,623 and 532,818,051 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 545,254 532,818
Additional paid-in capital 56,561,018 55,852,477
Accumulated deficit (61,447,146) (60,851,714)
Total C-Bond Systems, Inc. shareholders’ deficit (4,340,874) (4,466,419)
Noncontrolling interest 155,601 141,884
Total Shareholders’ Deficit (4,185,273) (4,324,535)
Total Liabilities and Shareholders’ Deficit 1,672,578 2,283,113
Series B Convertible Preferred Stock    
LONG-TERM LIABILITIES:    
Convertible preferred stock value 1,245,313 1,203,967
Series C Convertible Preferred Stock    
LONG-TERM LIABILITIES:    
Convertible preferred stock value $ 1,575,903 $ 1,621,160