v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 152,567 $ 519,898
Accounts receivable, net 255,853 173,248
Inventory 84,218 82,931
Prepaid expenses and other current assets 92,287 151,746
Contract assets   82,805
Due from related party   3,750
Total Current Assets 584,925 1,014,378
OTHER ASSETS:    
Property and equipment, net 104,670 135,022
Right of use asset, net 403,551 251,172
Intangible asset, net 292,543 330,421
Goodwill 350,491 350,491
Security deposit 6,482 6,482
Total Other Assets 1,157,737 1,073,588
TOTAL ASSETS 1,742,662 2,087,966
CURRENT LIABILITIES:    
Convertible notes payable, net 740,000 171,875
Notes payable, net 1,528,084 488,414
Accounts payable 820,753 831,648
Accrued expenses 558,807 436,733
Accrued interest payable - related party 6,247  
Accrued compensation 436,950 691,602
Contract liabilities 63,888 10,426
Lease liability 114,770 44,927
Total Current Liabilities 4,269,499 2,675,625
LONG-TERM LIABILITIES:    
Notes payable, less current portion 13,014 539,440
Note payable - related party 250,000  
Lease liability, less current portion 289,441 206,319
Total Long-term Liabilities 552,455 745,759
Total Liabilities 4,821,954 3,421,384
Commitments and Contingencies (See Note 10)
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 1,000 and 722 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively ($1,032,156 redemption and liquidation value at September 30, 2022) 1,032,156 738,611
Series C convertible preferred stock: $0.10 par value, 100,000 shares designated; 17,540 and 18,680 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively ($2,729,898 redemption and liquidation value at September 30, 2022) 1,819,932 1,907,012
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; 325,734,898 and 282,216,632 issued and outstanding at September 30, 2022 and December 31, 2021, respectively 325,735 282,217
Additional paid-in capital 54,990,166 53,064,616
Accumulated deficit (61,404,921) (57,515,129)
Total C-Bond Systems, Inc. shareholders’ deficit (6,089,020) (4,168,296)
Noncontrolling interest 157,640 189,255
Total Shareholders’ Deficit (5,931,380) (3,979,041)
Total Liabilities and Shareholders’ Deficit $ 1,742,662 $ 2,087,966

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