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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Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Years Ended | ||
|---|---|---|
| December 31, | ||
| 2023 | 2022 | |
| Revenue · $ · - · $ · - | ||
| Cost of goods sold | - | - |
| Gross (loss) profit | - | - |
| Operating expenses: | ||
| General and administrative | 2,454,668 | 4,330,734 |
| Impairment of fixed assets | 132,000 | - |
| Total operating expenses | 2,586,668 | 4,330,734 |
| Net Operating Loss | (2,586,668) | (4,330,734) |
| Other income (expense): | ||
| Interest expense | (1,615,591) | (3,034,402) |
| Interest expense - related parties | (109,502) | (314,745) |
| Equity investment incentives | (7,644,077) | - |
| Financing costs | (18,617) | - |
| Loss on legal settlement | (18,759) | - |
| Loss on true-up shares | (119,370) | (9,007) |
| Gain on waiver and commitment fee shares | - | 91,444 |
| Gain on waiver and commitment fee shares - related parties | - | 81,129 |
| Gain on settlement of accrued salary | - | 15,032 |
| (Loss) Gain on settlement of accounts payable | 25,000 | (88,235) |
| Gain on issuance of shares to service provider | 33,092 | - |
| Gain on sale of assets | 8,876 | - |
| Gain on conversion of notes and accounts payable into common stock – related party | 114,942 | - |
| (Loss) on conversion of accrued salaries and Series D preferred stock into Series F preferred stock | (25,000) | - |
| Gain on conversion of notes payable and accounts payable to common stock | 37,453 | - |
| Other Income | 40,622 | - |
| Loss on revaluation of derivative liabilities | (85,773) | (687,178) |
| Total other expense | (9,376,704) | (3,945,962) |
| Loss before provision for income taxes | (11,963,372) | (8,276,696) |
| Provision for income taxes | - | - |
| Net loss from continuing operations | $(11,963,372) | $(8,276,696) |
| Net loss from discontinued operations | (1,368,991) | (14,959,433) |
| Net loss | (13,332,363) | (23,236,129) |
| Preferred stock dividends | (1,600,241) | (249,868) |
| Preferred stock dividends - related parties | (119,540) | (72,442) |
| Net loss available to common shareholders | $(15,052,144) | $(23,558,439) |
| Net loss per share from continuing operations - basic and diluted | $(0.97) | $(2.14) |
| Net loss per share from discontinued operations - basic and diluted | (0.07) | (3.15) |
| Net loss per share - basic and diluted | (1.04) | (5.29) |
| Weighted average shares outstanding - basic and diluted | 14,440,218 | 4,451,962 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.