MDWerks Inc
For the period ended Mar 31, 2024. Filed Jul 9, 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 Jul 9, 2024
MDWKStored price and day change unavailable
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash | $162,894 | $115,111 |
| Note receivable | 99,433 | 97,533 |
| Accounts receivable, net | 205,851 | 106,734 |
| Inventory | 160,392 | 201,207 |
| Prepaid expenses | 33,383 | 28,632 |
| Total Current Assets | 661,953 | 549,217 |
| Fixed assets, net of accumulated depreciation of $74,609 and $10,787, respectively | 886,779 | 496,890 |
| Intangible assets, net of accumulated amortization of $18,447 and $4,339, respectively | 601,053 | 615,161 |
| Right-of-use asset | 1,051,899 | 1,105,152 |
| Goodwill | 466,648 | 466,648 |
| Total Assets | $3,668,332 | $3,233,068 |
| Liabilities and Stockholders’ Equity (Deficit) | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | $701,739 | $668,748 |
| Notes payable, current portion | 211,080 | 96,404 |
| Deferred revenue | 11,833 | 52,779 |
| Right-of-use liability, current portion | 230,146 | 249,175 |
| Total Current Liabilities | 1,154,798 | 1,067,106 |
| Notes payable, net of current portion | 357,956 | 92,830 |
| Right-of use liability, net of current portion | 892,750 | 912,915 |
| Total Liabilities | 2,405,504 | 2,072,851 |
| Stockholders’ Equity | ||
| Preferred stock, par value $0.001; 10,000,000 shares authorized, of which 8,957,500 were issued and outstanding | 8,958 | 8,958 |
| Common stock, par value $0.001; 300,000,000 shares authorized, of which 200,824,868 and 198,724,868 shares were issued and outstanding at March 31, 2024 and December 31, 2023, respectively | 200,825 | 198,725 |
| Additional paid in capital | 2,004,822 | 1,691,922 |
| Subscription payable | 90,000 | - |
| Accumulated deficit | (1,041,777) | (739,388) |
| Total Stockholders’ Equity | 1,262,828 | 1,160,217 |
| Total Liabilities and Stockholders’ Equity | $3,668,332 | $3,233,068 |
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