Greenwave Technology Solutions Inc
For the period ended Mar 31, 2024. Filed May 20, 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 20, 2024
GWAV$1.96-4.4%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
| March 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash | $713,218 | $1,546,159 |
| Inventories | 400,219 | 200,428 |
| Accounts receivable | 943,245 | 646,413 |
| Prepaid expenses | 162,667 | 296,761 |
| Total current assets | 2,219,349 | 2,689,761 |
| Property and equipment, net | 22,596,251 | 23,495,440 |
| Operating lease right of use assets, net - related party | 78,842 | 103,822 |
| Operating lease right of use assets, net | 1,219,921 | 198,558 |
| Licenses, net | 15,955,500 | 16,487,350 |
| Intellectual property, net | 1,518,000 | 1,669,800 |
| Customer List, net | 1,679,250 | 1,735,225 |
| Security deposit | 31,892 | 31,893 |
| Total assets | $45,299,005 | $46,411,849 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Bank overdraft | $298,264 | $118,763 |
| Accounts payable and accrued expenses | 5,122,300 | 6,100,449 |
| Accrued payroll and related expenses | 4,009,213 | 4,089,836 |
| Factoring, net of unamortized debt discount of $1,347,230 and $-, respectively | 2,231,731 | - |
| Non-convertible notes payable, current portion, net of unamortized debt discount of $754,863 and $500,250, respectively | 2,751,628 | 2,623,561 |
| Convertible notes payable, current portion, net of unamortized debt discount of $3,237,544 and $3,934,506, respectively | 6,756,732 | 8,065,494 |
| Due to related parties | 1,166,940 | 2,070,402 |
| Operating lease obligations, current portion - related party | 83,430 | 111,240 |
| Operating lease obligations, current portion | 288,212 | 89,731 |
| Total current liabilities | 22,708,450 | 23,269,476 |
| Operating lease obligations, less current portion | 929,394 | 94,943 |
| Related party note payable | 7,218,350 | 17,218,350 |
| Convertible notes payable, net of unamortized debt discount of $1,438,908 and $1,967,253, respectively | 3,002,992 | 4,032,747 |
| Non-convertible notes payable, net of unamortized debt discount of $1,597,247 and $1,965,113, respectively | 5,828,294 | 6,250,481 |
| Total liabilities | 39,687,480 | 50,865,997 |
| Commitments and contingencies (See Note 11) | - | - |
| Stockholders’ equity (deficit): | ||
| Preferred stock - 10,000,000 shares authorized: | ||
| Preferred stock - Series D, $0.001 par value, $10,000 stated value, 1,000 and 0 shares authorized; 1,000 and 0 shares to be issued, respectively | 1 | - |
| Common stock, $0.001 par value, 1,200,000,000 and 500,000,000 shares authorized; 43,864,860 and 16,964,336 shares issued and outstanding, respectively | 43,865 | 16,964 |
| Common stock to be issued, 241,373 and 0 shares, respectively | 241 | - |
| Subscription receivable | (67,923) | - |
| Additional paid in capital | 434,962,276 | 391,395,045 |
| Accumulated deficit | (429,326,935) | (395,866,157) |
| Total stockholders’ equity (deficit) | 5,611,525 | (4,454,148) |
| Total liabilities and stockholders’ equity (deficit) | $45,299,005 | $46,411,849 |
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