Mitesco Inc
For the period ended Mar 31, 2024. Filed May 15, 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.
Mar 31, 2024 · Filed May 15, 2024
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Contents
Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023
CONSOLIDATED BALANCE SHEETS
| March 31, 2024 (Unaudited) | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $40,785 | $2,838 |
| Prepaids and other current assets | 15,000 | - |
| Total current assets | 55,785 | 2,838 |
| Total assets | $55,785 | $2,838 |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $7,393,234 | $7,838,112 |
| Accrued interest | 389,444 | 348,821 |
| Accrued interest - related party | 72,374 | 61,792 |
| Derivative liabilities | 152,945 | 152,945 |
| Lease liability - operating lease, current | 99,477 | 99,477 |
| Notes payable, net | 1,145,429 | 945,429 |
| Notes payable - related parties, net | 300,012 | 300,012 |
| SBA loan payable | 414,002 | 421,788 |
| Other current liabilities | 96,136 | 121,136 |
| Preferred stock dividends payable | 2,049,289 | 1,551,833 |
| Preferred stock dividends payable - related parties | 161,617 | 73,364 |
| Legal settlements | 2,452,768 | 2,219,886 |
| Total current liabilities | 14,726,727 | 14,134,595 |
| Total liabilities | 14,726,727 | 14,134,595 |
| 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 March 31, 2024 and December 31, 2023 | - | - |
| Preferred stock, Series C, $0.01 par value, 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023 | - | - |
| Preferred stock, Series D, $0.01 par value, 250,000 shares issued and outstanding as of March 31, 2024 and December 31, 2023 | 2,500 | 2,500 |
| Preferred stock, Series F, $0.01 par value, 20,057 shares issued and outstanding as of March 31, 2024 and December 31, 2023 | 201 | 201 |
| Preferred stock, Series X, $0.01 par value, 24,227 shares issued and outstanding at March 31, 2024 and December 31, 2023 | 242 | 242 |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 5,634,027 and 5,567,957 shares issued and outstanding as of March 31, 2024 and December 31, 2023 , respectively | 56,341 | 55,680 |
| Additional paid-in capital | 47,270,074 | 47,856,444 |
| Accumulated deficit | (62,000,300) | (62,046,824) |
| Total stockholders' equity (deficit) | (14,670,942) | (14,131,757) |
| Total liabilities and stockholders' equity (deficit) | $55,785 | $2,838 |
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