v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 368,337 $ 323,407
Accounts receivable, net 319,729 79,697
Accounts receivable, related party 1,200  
Inventory 170,033 77,200
Prepaid expenses and other current assets 55,882 50,723
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
OTHER ASSETS:    
Property and equipment, net 145,670 18,683
Right of use asset, net 245,552 21,772
Intangible asset, net 530,143  
Security deposit 6,482 7,132
Total Other Assets 927,847 47,587
TOTAL ASSETS 1,875,189 584,140
CURRENT LIABILITIES:    
Note payable, current portion 604,560 521,138
Accounts payable 898,036 794,905
Accrued expenses 362,910 186,765
Accrued compensation 407,172 425,797
Billing in excess of costs and estimated earnings on uncompleted contracts 22,179  
Lease liability, current portion 39,879 22,216
Total Current Liabilities 2,334,736 1,950,821
LONG-TERM LIABILITIES:    
Note payable, net of current portion 541,356 35,062
Lease liability, net of current portion 205,673  
Total Long-term Liabilities 747,029 35,062
Total Liabilities 3,081,765 1,985,883
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
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; 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
Accumulated deficit (56,325,555) (45,968,839)
Total C-Bond Systems, Inc. shareholders’ deficit (3,921,264) (3,167,220)
Noncontrolling Interest 70,182  
Total Shareholders’ Deficit (3,851,082) (3,167,220)
Total Liabilities and Shareholders’ Deficit $ 1,875,189 $ 584,140

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