Mitesco, Inc.
For the period ended Mar 31, 2025. Filed May 15, 2025.
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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, 2025 · Filed May 15, 2025
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Contents
Item 1. Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024
CONSOLIDATED BALANCE SHEETS
| March 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS · (Unaudited) | ||
| Current assets | ||
| Cash and cash equivalents | $189 | $3,402 |
| Accounts receivable | 43,700 | 29,700 |
| Prepaid expenses and other current assets | 3,613 | 4,968 |
| Total current assets | 47,502 | 38,070 |
| Intangible assets, net | 142,084 | 151,771 |
| Total Assets | $189,586 | $189,841 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $4,335,327 | $4,167,061 |
| Accrued interest | 389,537 | 374,376 |
| Accrued interest - related parties | 24,844 | 22,547 |
| Derivative liabilities | 323,030 | 4,685,675 |
| Royalty payable | 150,000 | 150,000 |
| Lease liability - operating leases, current | 99,477 | 99,477 |
| Notes payable, net of discounts | 548,137 | 548,137 |
| Notes payable - related parties, net of discounts | 64,044 | 64,044 |
| SBA loan payable | 387,961 | 393,761 |
| Other current liabilities | 96,136 | 96,136 |
| Preferred stock dividends payable - related parties | 14,827 | 14,439 |
| Legal settlements | 2,715,175 | 2,666,675 |
| Series A preferred stock liability, current | 5,873,236 | 5,160,815 |
| Total current liabilities | 15,021,731 | 18,443,143 |
| Series A preferred stock liability, non-current | 7,319,400 | 8,162,644 |
| Total liabilities | 22,341,131 | 26,605,787 |
| Commitments and contingencies (Note 15) | ||
| Stockholders’ equity (deficit) | ||
| Preferred stock, $0.01 par value, 100,000,000 shares authorized; 10,000,000 shares designated Series D; 10,000 shares designated as Series E; 140,000 shares designated as Series F; and 31,427 shares designated Series X: | ||
| Preferred stock, Series D, $0.01 par value, 25,000 shares issued and outstanding as of March 31, 2025, and December 31, 2024 | 250 | 250 |
| Preferred stock, Series E, $0.01 par value, no shares issued and outstanding as of March 31, 2025, and December 31, 2024 | - | - |
| Preferred stock, Series F, $0.01 par value, no shares issued and outstanding as of March 31, 2025, and December 31, 2024 | - | - |
| Preferred stock, Series X, $0.01 par value, 19,703 shares issued and outstanding at March 31, 2025, and December 31, 2024 | 197 | 197 |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 11,157,010 and 9,762,258 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively | 111,571 | 97,623 |
| Additional paid-in capital | 38,141,452 | 37,341,335 |
| Accumulated deficit | (60,405,015) | (63,855,351) |
| Total stockholders’ equity (deficit) | (22,151,545) | (26,415,946) |
| Total liabilities and stockholders’ equity (deficit) | $189,586 | $189,841 |
See accompanying notes to these unaudited consolidated financial statements.
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