Mitesco Inc
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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FY2023 · Filed Apr 16, 2024
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CONSOLIDATED BALANCE SHEETS
| December 31, | December 31, | |
|---|---|---|
| ASSETS | 2023 | 2022 |
| Current assets | ||
| Cash and cash equivalents | $2,838 | $35,623 |
| Prepaid expenses | - | 51,632 |
| Current assets of discontinued operations | - | 93,033 |
| Total current assets | 2,838 | 180,288 |
| Right to use operating leases, net | - | 83,810 |
| Fixed assets, net | - | 44,655 |
| Non-current assets of discontinued operations | - | 2,293,227 |
| Total Assets | $2,838 | $2,601,980 |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $7,838,112 | $7,353,215 |
| Accrued interest | 375,346 | 358,165 |
| Accrued interest - related parties | 35,267 | 52,643 |
| Derivative liabilities | 152,945 | 568,912 |
| Lease liability - operating leases, current | 99,477 | 442,866 |
| Notes payable, net of discounts | 1,078,529 | 5,047,995 |
| Notes payable - related parties, net of discounts | 166,912 | 846,001 |
| SBA loan payable | 421,788 | 460,406 |
| Other current liabilities | 121,136 | 96,136 |
| Preferred stock dividends payable | 1,551,833 | 395,407 |
| Preferred stock dividends payable - related parties | 73,364 | 35,019 |
| Legal settlements | 2,219,886 | - |
| Current liabilities from discontinued operations | - | 2,145,706 |
| Total current liabilities | 14,134,595 | 17,802,471 |
| Lease Liability- operating leases, non-current | - | 3,936,858 |
| Total Liabilities | 14,134,595 | 21,739,329 |
| 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 December 31, 2023 and 2022 | - | - |
| Preferred stock, Series C, $0.01 par value, 0 and 1,047,619 shares issued and outstanding as of December 31, 2023 and 2022, respectively | - | 10,476 |
| Preferred stock, Series D, $0.01 par value, 250,000 and 3,100,000 shares issued and outstanding as of December 31, 2023 and 2022 | 2,500 | 31,000 |
| Preferred stock, Series E, $0.01 par value, no shares issued and outstanding as of December 31, 2023 and 2022 | - | - |
| Preferred stock, Series F, $0.01 par value, 20,057 and no shares issued and outstanding as of December 31, 2023 and 2022 | 201 | - |
| Preferred stock, Series X, $0.01 par value, 24,227 shares issued and outstanding at December 31, 2023 and 2022 | 242 | 242 |
| Common stock subscribed | - | 36,575 |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 5,567,957 and 4,630,372 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 55,680 | 46,305 |
| Additional paid-in capital | 47,856,444 | 29,452,514 |
| Accumulated deficit | (62,046,824) | (48,714,461) |
| Total stockholders' equity (deficit) | (14,131,757) | (19,137,349) |
| Total liabilities and stockholders' equity (deficit) | $2,838 | $2,601,980 |
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