Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash $ 736,461 $ 97,091
Accounts receivable, net 424,091 269,442
Inventory 181,663 77,446
Prepaid expenses and other current assets 28,503 71,171
Contract assets 2,400 279
Total Current Assets 1,373,118 515,429
OTHER ASSETS:    
Property and equipment, net 171,606 96,306
Right of use asset, net 158,484 375,412
Intangible asset, net 229,414 279,918
Goodwill 350,491 350,491
Security deposit 6,482
Total Other Assets 909,995 1,108,609
TOTAL ASSETS 2,283,113 1,624,038
CURRENT LIABILITIES:    
Convertible note payable, net of discount - current portion 180,000 1,031,250
Notes payable, net of discount - current portion 81,908 1,576,438
Accounts payable 710,222 779,765
Accrued expenses 474,515 736,393
Accrued compensation 717,204 590,632
Contract liabilities 500,720 22,637
Lease liabilities, current portion 60,503 117,671
Total Current Liabilities 2,725,072 4,864,813
LONG-TERM LIABILITIES:    
Convertible notes payable, net of current portion 918,091 251,263
Notes payable, net of current portion and discount 42,109 208,804
Lease liabilities, net of current portion 97,249 258,895
Total Long-term Liabilities 1,057,449 968,962
Total Liabilities 3,782,521 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 December 31, 2023 and 2022, respectively 532,818 350,270
Additional paid-in capital 55,852,477 55,141,503
Accumulated deficit (60,851,714) (62,693,184)
Total C-Bond Systems, Inc. shareholders' deficit (4,466,419) (7,201,411)
Noncontrolling interest 141,884 150,742
Total Shareholders' Deficit (4,324,535) (7,050,669)
Total Liabilities and Shareholders' Deficit 2,283,113 1,624,038
Series B Convertible Preferred Stock    
LONG-TERM LIABILITIES:    
Convertible preferred stock value 1,203,967 1,037,201
Series C Convertible Preferred Stock    
LONG-TERM LIABILITIES:    
Convertible preferred stock value 1,621,160 1,803,731
Related Party    
CURRENT LIABILITIES:    
Accrued interest payable - related party   10,027
LONG-TERM LIABILITIES:    
Note payable - related party $ 250,000