Mycotopia Therapies Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
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Contents
Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023
| MYCOTOPIA THERAPIES, INC | ||
|---|---|---|
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| AS OF SEPTEMBER 30, 2024 (UNAUDITED) AND DECEMBER 31, 2023 | ||
| September 30, | December 31, | |
| 2024 | 2023 | |
| (unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash | $202,358 | $279,134 |
| Prepaid expenses | 700 | - |
| Total Current Assets | 203,058 | 279,134 |
| NON-CURRENT ASSETS: | ||
| Property and equipment, net | - | 498 |
| Intangible assets, net | 1,439,781 | 1,939,781 |
| TOTAL ASSETS | $1,642,839 | $2,219,413 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES: | ||
| Accounts payable and accrued expenses | $495,073 | $341,358 |
| Accrued interest | 449,587 | 239,714 |
| Accrued expenses – related party | 792,000 | 576,000 |
| Convertible note payable, net of debt discount | 1,100,000 | 1,090,651 |
| Notes payable – related party | 165,000 | - |
| Shares to be issued | 2,000,000 | 2,000,000 |
| TOTAL LIABILITIES | 5,001,660 | 4,247,723 |
| Commitments and contingencies (Note 9 – Commitments and Contingencies) | - | - |
| MEZZANINE EQUITY | ||
| Series B Preferred stock, $0.001 par value; 1,500,000 shares authorized at September 30, 2024 and December 31, 2023; 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023; liquidation preference of $0 as of September 30, 2024 and December 31, 2023 | - | - |
| STOCKHOLDERS’ DEFICIT | ||
| Preferred stock, 5,000,000 shares authorized: | ||
| Series A Preferred Stock, $0.001 par value, 1 and 0 shares authorized at September 30, 2024 and December 31, 2023, respectively; 1 and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | - | - |
| Common stock, $0.001 par value; 467,000,000 and 100,000,000 shares authorized at September 30, 2024 and December 31, 2023, respectively; 5,481,619 and 14,896,791 shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively | 5,482 | 14,897 |
| Additional paid in capital | 6,953,439 | 6,917,774 |
| Accumulated deficit | (10,317,742) | (8,960,981) |
| TOTAL STOCKHOLDERS’ DEFICIT | (3,358,821) | (2,028,310) |
| TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ DEFICIT | $1,642,839 | $2,219,413 |
MYCOTOPIA THERAPIES, INC
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
| For the Nine Months Ended · For the Three Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| OPERATING EXPENSE | ||||
| General and administrative | $1,137,539 | $427,785 | $385,257 | $165,421 |
| TOTAL OPERATING EXPENSES | 1,137,539 | 427,785 | 385,257 | 165,421 |
| NET LOSS FROM OPERATIONS | (1,137,539) | (427,785) | (385,257) | (165,421) |
| OTHER EXPENSE | ||||
| Interest expense | (219,222) | (462,601) | (74,887) | (143,279) |
| TOTAL OTHER EXPENSE | (219,222) | (462,601) | (74,887) | (143,279) |
| NET LOSS BEFORE PROVISION FOR INCOME TAXES | $(1,356,761) | $(890,386) | $(460,144) | $(308,700) |
| Provision for income taxes | - | - | - | - |
| NET LOSS | $(1,356,761) | $(890,386) | $(460,144) | $(308,700) |
| NET LOSS PER SHARE – BASIC AND DILUTED | $(0.11) | $(0.06) | $(0.06) | $(0.02) |
| AVERAGE NUMBER OF COMMON SHARE OUTSTANDING – BASIC AND DILUTED | 12,665,932 | 14,879,756 | 8,103,952 | 14,896,791 |
| MYCOTOPIA THERAPIES, INC. | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| CONDENSED CONSOLIDATED STATEMENT OF MEZZANINE EQUITY AND STOCKHOLDERS’ DEFICIT | |||||||||||
| Series B · Series A | |||||||||||
| Preferred Shares · Preferred Stock · Common Stock · Additional · Accumulated | |||||||||||
| Shares · Amount · Shares · Amount · Shares · Amount · Paid-In Capital · Deficit · Total | |||||||||||
| Balance as of December 31, 2023 | - | $ | - | - | $ | - | 14,896,791 | $14,897 | $6,917,774 | $(8,960,981) | $(2,028,310) |
| Net loss for the three months ended, March 31, 2024 | - | - | - | - | - | - | - | (425,942) | (425,942) | ||
| Balance as of March 31, 2024 | - | - | - | - | 14,896,791 | 14,897 | 6,917,774 | (9,386,923) | (2,454,252) | ||
| Net loss for the three months ended, June 30, 2024 | - | - | - | - | - | - | - | (470,675) | (470,675) | ||
| Balance as of June 30, 2024 | - | - | - | - | 14,896,791 | 14,897 | 6,917,774 | (9,857,598) | (2,924,927) | ||
| Exchange of common stock for Series A Preferred Stock | - | - | 1 | - | (9,793,754) | (9,794) | 9,794 | - | - | ||
| Common stock issued to settle accounts payable and accrued expenses | 378,582 | 379 | 25,871 | 26,250 | |||||||
| Net loss for the three months ended, September 30, 2024 | - | - | - | - | - | - | - | (460,144) | (460,144) | ||
| Balance as of September 30, 2024 | - | $ | - | 1 | $ | - | 5,481,619 | $5,482 | $6,953,439 | $(10,317,742) | $(3,358,821) |
| Series B · Series A · Additional | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Shares · Preferred Stock · Common Stock · Paid-In · Accumulated | |||||||||||
| Shares · Amount · Shares · Amount · Shares · Amount · Capital · Deficit · Total | |||||||||||
| Balance as of December 31, 2022 | - | - | - | $ | - | 14,858,357 | 14,857 | 6,873,429 | (7,779,634) | $(891,348) | |
| Net loss for the three months ended March 31, 2023 | - | - | - | - | - | - | - | (303,004) | (303,004) | ||
| Balance as of March 31, 2023 | - | - | - | - | 14,858,357 | 14,857 | 6,873,429 | (8,082,638) | (1,194,352) | ||
| Stock based compensation | - | - | - | - | - | - | 635 | - | 635 | ||
| Common stock issued to settle accounts payable and accrued expenses | - | - | - | - | 38,434 | 38 | 43,712 | - | 43,750 | ||
| Net loss for the three months ended June 30, 2023 | - | - | - | - | - | - | - | (278,682) | (278,682) | ||
| Balance as of June 30, 2023 | - | - | - | - | 14,896,791 | 14,895 | 6,917,776 | (8,361,320) | (1,428,649) | ||
| Net loss for the three months ended September 30, 2023 | (308,700) | (308,700) | |||||||||
| Balance as of September 30, 2023 | - | $ | - | - | $ | - | 14,896,791 | $14,895 | $6,917,776 | $(8,670,020) | $(1,737,349) |
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