Midwest Energy Emissions Corp
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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FY2023 · Filed Apr 16, 2024
BCHT$1.14-0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash | $20,939,762 | $1,504,225 |
| Accounts receivable | 2,233,211 | 2,777,607 |
| Inventory | 795,164 | 991,131 |
| Prepaid expenses and other assets | 183,621 | 267,393 |
| Total current assets | 24,151,758 | 5,540,356 |
| Security deposits | 5,175 | 10,175 |
| Property and equipment, net | 1,595,958 | 1,828,592 |
| Right of use asset - operating lease | 10,639 | 51,563 |
| Intellectual property, net | 1,704,063 | 1,909,597 |
| Total assets | $27,467,593 | $9,340,283 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities | ||
| Accounts payable and accrued expenses (related party $107,454 and $25,000 at December 31, 2023 and December 31, 2022, respectively) | $1,558,450 | $2,946,835 |
| Income tax payable | 437,821 | - |
| Current portion of operating lease liability | 11,157 | 43,262 |
| Customer credits | 167,000 | 167,000 |
| Accrued salaries | 8,936 | 67,478 |
| Total current liabilities | 2,183,364 | 3,224,575 |
| Operating lease liability | - | 11,289 |
| Secured note payable, net of discount – related party | 239,466 | 219,962 |
| Unsecured note payable, net of discount and issuance costs – related party | 10,979,723 | 9,663,056 |
| Profit share liability – related party | 14,847,937 | 3,638,260 |
| Total liabilities | 28,250,490 | 16,757,142 |
| COMMITMENTS AND CONTINGENCIES | ||
| Stockholders’ deficit | ||
| Preferred stock, $0.001 par value: 2,000,000 shares authorized, no shares issued | - | - |
| Common stock, $0.001 par value; 150,000,000 shares authorized 94,360,107 and 93,087,796 shares issued and outstanding as of December 31, 2023 and December 31, 2022 respectively. | 94,360 | 93,088 |
| Additional paid-in capital | 61,917,119 | 61,188,442 |
| Accumulated deficit | (62,794,376) | (68,698,389) |
| Total stockholders’ deficit | (782,897) | (7,416,859) |
| Total liabilities and stockholders’ deficit | $27,467,593 | $9,340,283 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.