Mitesco Inc
For the period ended Sep 30, 2023. Filed Feb 13, 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, 2023 · Filed Feb 13, 2024
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Contents
Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
| September 30, | December 31, | |
|---|---|---|
| ASSETS | 2023 | 2022 |
| Current assets | ||
| Cash and cash equivalents | $24,642 | $6,191 |
| Accounts Receivable | - | - |
| Prepaid expenses | - | 51,632 |
| Current assets of discontinued operations | 1,665 | 122,465 |
| Total current assets | 26,307 | 180,288 |
| Right to use operating leases, net | - | 83,810 |
| Fixed assets, net of accumulated depreciation of $1.1 million and $.06 million | - | 44,655 |
| Non-current assets of discontinued operations | - | 2,293,228 |
| Total Assets | $26,307 | $2,601,981 |
| LIABILITIES AND (DEFICIENCY IN) STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $1,903,600 | $1,945,848 |
| Accrued interest | 164,722 | 185,732 |
| Accrued interest - related parties | 416,815 | 198,753 |
| Derivative liabilities | 152,937 | 568,912 |
| Lease liability - operating leases, current | 93,758 | 93,758 |
| Notes payable, net of discounts of $0 and $0.4 million | 1,143,265 | 5,112,702 |
| Notes payable - related parties, net of discounts of $0 and $22,670 | 2,100,956 | 2,776,962 |
| SBA Loan Payable | 428,507 | 460,406 |
| Other current liabilities | 96,136 | 96,136 |
| Preferred stock dividends payable | 973,872 | 395,407 |
| Preferred stock dividends payable - related parties | 78,357 | 35,019 |
| Current liabilities of discontinued operations | 9,955,164 | 5,932,838 |
| Total current liabilities | 17,508,089 | 17,802,473 |
| Lease Liability- operating leases, non-current | - | - |
| Long term liabilities of discontinued operations | - | 3,936,858 |
| Total Liabilities | 17,508,089 | 21,739,331 |
| Commitments and contingencies | - | - |
| Stockholders' equity (deficit) | ||
| Preferred stock, $0.01 par value, 100,000,000 shares authorized; 500,000 shares designated Series A; 3,000,000 shares designated Series C; 10,000,000 shares designated Series D; 10,000 shares designated as Series E; 140,000 shares designated as Series F, and 27,324 shares designated Series X. | - | - |
| Preferred stock, Series A, $0.01 par value, 0 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | - | - |
| Preferred stock, Series C, $0.01 par value, 0 and 1,047,619 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | - | 10,476 |
| Preferred stock, Series D, $0.01 par value, 750,000 and 3,100,000 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | 7,500 | 31,000 |
| Preferred stock, Series F, $0.01 par value, 16,353 and 0 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | 194 | - |
| Preferred stock, Series X, $0.01 par value, 24,227 shares issued and outstanding at September 30, 2023 and December 31, 2022 | 242 | 242 |
| Common stock subscribed | - | 36,575 |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 5,544,519 and 4,630,372 shares issued and outstanding as of September 30, 2023 and December 31, respectively | 55,448 | 46,305 |
| Additional paid-in capital | 45,879,763 | 29,452,514 |
| Accumulated deficit | (63,424,929) | (48,714,462) |
| Total stockholders' deficit | (17,481,782) | (19,137,350) |
| Total liabilities and stockholders' equity (deficit) | $26,307 | $2,601,981 |
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