20 results
10-Q
2019 Q3
ZGSI
Zero Gravity Solutions, Inc.
10 Aug 21
Quarterly report
2:49pm
Zero Gravity Solutions, Inc. and Subsidiaries Consolidated Balance Sheets
| September 30, 2019 | December 31, 2018 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 504,555 | $ | 43,683 | ||||
| Accounts receivable - net | 810 | 342 | ||||||
| Prepaid and other | 187,829 | 314,645 | ||||||
| Inventory | 46,772 | 103,142 | ||||||
| Total Current Assets | 739,966 | 461,812 | ||||||
| Property and Equipment - net | 71,887 | 85,523 | ||||||
| Other Assets | ||||||||
| Inventory | 260,503 | - | ||||||
| Deposit | 4,717 | 4,817 | ||||||
| Total Other Assets | 265,220 | 4,817 | ||||||
| Total Assets | $ | 1,077,073 | $ | 552,152 | ||||
| Liabilities and Stockholders' Deficit | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 546,779 | $ | 544,659 | ||||
| Accounts payable and accrued expenses - related parties | - | 127,480 | ||||||
| Accrued interest | 78,050 | 21,262 | ||||||
| Accrued interest - related parties | 359,041 | 100,919 | ||||||
| Deferred revenue | - | 250,000 | ||||||
| Deferred compensation - related party | - | 12,500 | ||||||
| Insurance financing liability | 41,178 | 223,482 | ||||||
| Notes payable - net | - | 191,108 | ||||||
| Notes payable - related parties - net | - | 1,058,621 | ||||||
| Convertible notes payable - net | 104,500 | 8,947 | ||||||
| Convertible notes payable - related parties | - | 500,000 | ||||||
| Derivative liability | 111,000 | 114,000 | ||||||
| Total Current Liabilities | 1,240,548 | 3,152,978 | ||||||
| Long-Term Liabilities | ||||||||
| Convertible notes payable - Series A, 10% - net | 364,196 | - | ||||||
| Convertible notes payable - Series A, 10% - related parties - net | 1,243,492 | - | ||||||
| Convertible notes payable - Series B, 12% - net | 142,770 | - | ||||||
| Convertible notes payable - Series B, 12% - related parties - net | 694,295 | - | ||||||
| Notes payable - net | - | 96,263 | ||||||
| Notes payable - related parties - net | - | 943,621 | ||||||
| Convertible notes payable - net | - | 356,794 | ||||||
| Convertible notes payable - related parties - net | - | 1,098,649 | ||||||
| Total Long-Term Liabilities | 2,444,753 | 2,495,327 | ||||||
| Total Liabilities | 3,685,301 | 5,648,305 | ||||||
| Commitments (Note 5) | ||||||||
| Stockholders' Deficit | ||||||||
| Common stock, $0.001 par value, 100,000,000 shares authorized 39,432,310 and 40,954,115 shares issued and outstanding, respectively | 39,432 | 40,954 | ||||||
| Additional paid-in capital | 32,741,972 | 24,283,509 | ||||||
| Accumulated deficit | (35,388,469) | (29,420,616) | ||||||
| Stockholders' deficit | (2,607,065) | (5,096,153) | ||||||
| Non-controlling interest | (1,163) | - | ||||||
| Total Stockholders' Deficit | (2,608,228) | (5,096,153) | ||||||
| Total Liabilities and Stockholders' Deficit | $ | 1,077,073 | $ | 552,152 | ||||
10-Q
2019 Q2
ZGSI
Zero Gravity Solutions, Inc.
25 Nov 20
Quarterly report
4:54pm
Condensed Consolidated Balance Sheets
| June 30, 2019 | December 31, 2018 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 1,782,954 | $ | 43,683 | ||||
| Accounts receivable - net | 2,275 | 342 | ||||||
| Prepaid and other | 264,859 | 314,645 | ||||||
| Inventory | 26,326 | 103,142 | ||||||
| Total Current Assets | 2,076,414 | 461,812 | ||||||
| Property and Equipment - net | 73,406 | 85,523 | ||||||
| Other Assets | ||||||||
| Inventory | 220,495 | - | ||||||
| Deposit | 4,817 | 4,817 | ||||||
| Total Other Assets | 225,312 | 4,817 | ||||||
| Total Assets | $ | 2,375,132 | $ | 552,152 | ||||
| Liabilities and Stockholders' Deficit | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 493,884 | $ | 544,659 | ||||
| Accounts payable and accrued expenses - related parties | - | 127,480 | ||||||
| Accrued interest | 36,941 | 21,262 | ||||||
| Accrued interest - related parties | 141,202 | 100,919 | ||||||
| Deferred revenue | - | 250,000 | ||||||
| Deferred compensation - related party | - | 12,500 | ||||||
| Insurance financing liability | 105,025 | 223,482 | ||||||
| Notes payable - net | - | 191,108 | ||||||
| Notes payable - related parties - net | 99,214 | 1,058,621 | ||||||
| Convertible notes payable - net | 151,503 | 8,947 | ||||||
| Convertible notes payable - related parties | - | 500,000 | ||||||
| Derivative liability | 216,000 | 114,000 | ||||||
| Total Current Liabilities | 1,243,769 | 3,152,978 | ||||||
| Long-Term Liabilities | ||||||||
| Convertible notes payable - Series A, 10% - net | 339,112 | - | ||||||
| Convertible notes payable - Series A, 10% - related parties - net | 1,116,584 | - | ||||||
| Convertible notes payable - Series B, 12% - net | 56,013 | - | ||||||
| Convertible notes payable - Series B, 12% - related parties - net | 266,104 | - | ||||||
| Notes payable - net | - | 96,263 | ||||||
| Notes payable - related parties - net | - | 943,621 | ||||||
| Convertible notes payable - net | - | 356,794 | ||||||
| Convertible notes payable - related parties - net | - | 1,098,649 | ||||||
| Total Long-Term Liabilities | 1,777,813 | 2,495,327 | ||||||
| Total Liabilities | 3,021,582 | 5,648,305 | ||||||
| Commitments (Note 5) | ||||||||
| Stockholders' Deficit | ||||||||
| Common stock, $0.001 par value, 100,000,000 shares authorized 39,332,310 and 40,954,115 shares issued and outstanding at June 30, 2019 and December 31, 2018 respectively | 39,332 | 40,954 | ||||||
| Additional paid-in capital | 32,586,150 | 24,283,509 | ||||||
| Accumulated deficit | (33,271,377) | (29,420,616) | ||||||
| Stockholders' deficit | (645,895) | (5,096,153) | ||||||
| Non-controlling interest | (555) | - | ||||||
| Total Stockholders' Deficit | (646,450) | (5,096,153) | ||||||
| Total Liabilities and Stockholders' Deficit | $ | 2,375,132 | $ | 552,152 | ||||
10-Q
2019 Q1
ZGSI
Zero Gravity Solutions, Inc.
18 Aug 20
Quarterly report
1:38pm
Condensed Consolidated Balance Sheets
| March 31, 2019 | December 31, 2018 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash | $ | 3,187 | $ | 43,683 | ||||
| Accounts receivable, net | - | 342 | ||||||
| Prepaid expenses | 304,101 | 314,645 | ||||||
| Inventory | 125,901 | 103,142 | ||||||
| Total current assets | 433,189 | 461,812 | ||||||
| Property and equipment, net | 79,192 | 85,523 | ||||||
| OTHER ASSETS | ||||||||
| Deposits | 4,817 | 4,817 | ||||||
| Total other assets | 4,817 | 4,817 | ||||||
| TOTAL ASSETS | $ | 517,198 | $ | 552,152 | ||||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
| CURRENT LIABILITIES | ||||||||
| Accounts payable and other payables | $ | 674,829 | $ | 544,659 | ||||
| Accounts payable, related party | 96,826 | 127,480 | ||||||
| Accrued interest | 49,629 | 21,262 | ||||||
| Accrued interest, related party | 204,869 | 100,919 | ||||||
| Deferred revenue | 206,800 | 250,000 | ||||||
| Deferred compensation, related party | - | 12,500 | ||||||
| Insurance financing liability | 168,819 | 223,482 | ||||||
| Notes payable, related party, net of discounts $53,289 and $41,379 | 1,846,711 | 1,058,621 | ||||||
| Convertible notes payable, net of discounts $198,504 and $127,053 | 101,996 | 8,947 | ||||||
| Convertible notes payable, related party | 925,000 | 500,000 | ||||||
| Notes payable, net of discounts $9,451 and $8,892 | 290,549 | 191,108 | ||||||
| Embedded conversion option liability | 231,000 | 114,000 | ||||||
| Total current liabilities | 4,797,028 | 3,152,978 | ||||||
| LONG TERM LIABILITIES | ||||||||
| Notes payable, net of discounts $0 and $3,737 | - | 96,263 | ||||||
| Notes payable, related parties, net of discounts $17,289 and $56,380 | 282,712 | 943,621 | ||||||
| Convertible notes payable, net of discounts $162,382 and $193,202 | 387,618 | 356,794 | ||||||
| Convertible notes payable, related parties, net of discounts $418,856 and $501,351 | 1,181,144 | 1,098,649 | ||||||
| Total long-term liabilities | 1,851,474 | 2,495,327 | ||||||
| Total Liabilities | 6,648,502 | 5,648,305 | ||||||
| Commitments (Note 4) | ||||||||
| STOCKHOLDERS' DEFICIT | ||||||||
| Common stock; 100,000,000 shares authorized, at $0.001 par value, 41,307,310 and 40,954,115 shares issued and outstanding, at March 31, 2019 and | ||||||||
| December 31, 2018, respectively | 41,307 | 40,954 | ||||||
| Additional paid-in capital | 24,479,365 | 24,283,509 | ||||||
| Accumulated deficit | (30,651,704) | (29,420,616) | ||||||
| Non-controlling interest | (272) | - | ||||||
| Total stockholders' deficit | (6,131,304) | (5,096,153) | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ | 517,198 | $ | 552,152 | ||||
10-Q
2019 Q1
ZGSI
Zero Gravity Solutions, Inc.
18 Aug 20
Quarterly report
1:38pm
Convertible Notes Payable to Related Parties
| Date of Note | Face Value | Debt Discount | Debt Discount Accretion | Carrying Value | ||||||||||||
| July 2015 | $ | 500,000 | $ | - | $ | - | $ | 500,000 | ||||||||
| June 2018 | $ | 1,000,000 | $ | 444,416 | $ | 167,417 | $ | 723,001 | ||||||||
| July 2018 | $ | 250,000 | $ | 111,113 | $ | 41,401 | $ | 180,288 | ||||||||
| July 2018 | $ | 250,000 | $ | 111,109 | $ | 38,964 | $ | 177,855 | ||||||||
| December 2018 | $ | 100,000 | $ | - | $ | - | $ | 100,000 | ||||||||
| February 2019 | $ | 325,000 | $ | - | $ | - | $ | 325,000 | ||||||||
| March 2019 | $ | 100,000 | $ | - | $ | - | $ | 100,000 | ||||||||
| $ | 2,525,000 | $ | 666,638 | $ | 247,782 | $ | 2,106,144 | |||||||||
| Convertible Notes Payable - Current | $ | 925,000 | $ | - | $ | - | $ | 925,000 | ||||||||
| Convertible Notes Payable - Long Term | $ | 1,600,000 | $ | 666,638 | $ | 247,782 | $ | 1,181,144 | ||||||||
10-Q
2019 Q1
ZGSI
Zero Gravity Solutions, Inc.
18 Aug 20
Quarterly report
1:38pm
Notes payable outstanding at March 31, 2019 consist of the following:
| Date of Note | Face Value | Debt Discount | Debt Discount Accretion | Carrying Value | ||||||||||||
| August 2017 | $ | 100,000 | $ | 10,435 | $ | 8,349 | $ | 97,914 | ||||||||
| September 2017 | $ | 500,000 | $ | 52,166 | $ | 37,717 | $ | 485,551 | ||||||||
| October 2017 | $ | 500,000 | $ | 50,229 | $ | 33,938 | $ | 483,709 | ||||||||
| January 2018 | $ | 500,000 | $ | 50,590 | $ | 39,657 | $ | 489,067 | ||||||||
| March 2018 | $ | 200,000 | $ | 20,281 | $ | 10,751 | $ | 190,470 | ||||||||
| May 2018 | $ | 300,001 | $ | 30,452 | $ | 13,163 | $ | 282,712 | ||||||||
| Jan 2019 | $ | 100,000 | $ | - | $ | - | $ | 100,000 | ||||||||
| $ | 2,200,001 | $ | 214,153 | $ | 143,575 | $ | 2,129,423 | |||||||||
| Notes Payable - Current | $ | 1,900,000 | $ | 183,701 | $ | 130,412 | $ | 1,846,711 | ||||||||
| Notes Payable – Long Term | $ | 300,001 | $ | 30,452 | $ | 13,163 | $ | 282,712 | ||||||||
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