Consolidated Balance Sheet as of September 30,2021
1
Consolidated Statement of Operations for the quarter ended September 30, 2021
2
Consolidated Statement of Cash Flows for the quarter ended September 30, 2021
3
Notes for Footnotes
4
AMERICAN DEFENSE SYSTEMS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
SEPTEMBER 30,2021
ASSETS
CURRENT ASSETS
Cash
$
-
Accounts receivable, net of allowance for doubtful accounts of $0
-
Inventory
-
Prepaid expenses and other current assets
-
TOTAL CURRENT ASSETS
-
Property and equipment, net
-
Deposits
-
Goodwill
-
Deferred tax assets
-
TOTAL ASSETS
$
-
1
AMERICAN DEFENSE SYSTEMS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
DECEMBER 31 ,2020
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable
$
-
Accrued expenses
-
Notes payable
-
Deferred tax liability
-
TOTAL CURRENT LIABILITIES
-
Notes payable
-
Warrant liability
-
TOTAL LIABILITIES
-
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Common stock, $0.001 par value, 100,000,000 shares authorized,
-
93,417,492 shares issued and outstanding
Additional paid-in capital
Accumulated deficit
-
TOTAL SHAREHOLDERS' EQUITY
-
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
-
2
AMERICAN DEFENSE SYSTEMS, INC. AND SUBSIDIARIES
INCOME STATEMENT
FOR THE PERIOD ENDED SEPTEMBER 30,2021
CONTRACT REVENUES EARNED
$
-
COST OF REVENUES EARNED (exclusive of depreciation
shown separately below)
-
GROSS PROFIT
-
OPERATING EXPENSES
General and administrative expenses
-
General and administrative salaries
-
Sales and marketing
-
Research and development
-
Depreciation
-
Impairment of fixed assets
-
Professional fees
-
TOTAL OPERATING EXPENSES
-
OPERATING LOSS
-
OTHER INCOME (EXPENSE)
Gain on sale of fixed asset
-
Finance charges
-
Discount on common stock issuance
-
Unrealized gain on warrant liability
-
TOTAL OTHER INCOME (EXPENSE)
-
LOSS BEFORE INCOME TAXES
-
INCOME TAX PROVISION
-
NET LOSS
$
-
Weighted Average Shares Outstanding (Basic and Diluted)
-
Loss per Share (Basic and Diluted)
#DIV/0!
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ADSI - American Defense Systems Inc. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 00:59:10 UTC.
American Defense Systems, Inc. (ADSI) develops, engineers and manufactures security and safety solutions for the physical security industry. The Company designs, fabricates and installs transparent and opaque armor kits, security doors, ballistic windows and curtain wall systems. The Company provides a range of anti-ram vehicle barriers, as well as forced entry ballistic resistant and blast mitigation doors, louvers and security stations. ADSI's products and services include transparent armor, opaque armor, architectural security, and design and engineering. ADSI's transparent armor products include portable transparent ballistic shield (PTBS), folding transparent ballistic shield (FTBS) and very important person (VIP) protection systems. Its opaque armor products include crew protection kits (CPK), combat lock and door latch, emergency egress window, fortified door hinges and crew comfort system. ADSI also offers architectural security solutions.