v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 170,110 $ 519,898
Accounts receivable, net 307,846 173,248
Inventory 63,078 82,931
Prepaid expenses and other current assets 39,621 151,746
Contract assets 2,540 82,805
Due from related party 3,750 3,750
Total Current Assets 586,945 1,014,378
OTHER ASSETS:    
Property and equipment, net 124,738 135,022
Right of use asset, net 264,787 251,172
Intangible asset, net 317,795 330,421
Goodwill 350,491 350,491
Security deposit 6,482 6,482
Total Other Assets 1,064,293 1,073,588
TOTAL ASSETS 1,651,238 2,087,966
CURRENT LIABILITIES:    
Convertible note payable, net 378,125 171,875
Notes payable, current portion, net 640,016 488,414
Accounts payable 853,290 831,648
Accrued expenses 462,215 436,733
Accrued compensation 421,606 691,602
Contract liabilities 46,053 10,426
Lease liability, current portion 53,611 44,927
Total Current Liabilities 2,854,916 2,675,625
LONG-TERM LIABILITIES:    
Notes payable, net of current portion 530,333 539,440
Lease liability, net of current portion 210,527 206,319
Total Long-term Liabilities 740,860 745,759
Total Liabilities 3,595,776 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 March 31, 2022 and December 31, 2021, respectively ($1,022,123 redemption and liquidation value at March 31, 2022) 1,022,123 738,611
Series C convertible preferred stock: $0.10 par value, 100,000 shares designated; 18,560 and 18,680 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively ($2,856,238 redemption and liquidation value at March 31, 2022) 1,904,159 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; 285,174,171 and 282,216,632 issued and outstanding at March 31, 2022 and December 31, 2021, respectively 285,174 282,217
Additional paid-in capital 54,103,304 53,064,616
Accumulated deficit (59,435,533) (57,515,129)
Total C-Bond Systems, Inc. shareholders’ deficit (5,047,055) (4,168,296)
Noncontrolling interest 176,235 189,255
Total Shareholders’ Deficit (4,870,820) (3,979,041)
Total Liabilities and Shareholders’ Deficit $ 1,651,238 $ 2,087,966

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