EQ ENERGY DRINK, INC. EQ LABS, INC
UNAUDITED FINANCIAL STATEMENTS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021
(UNAUDITED)
Table of Contents
Balance Sheets as of June 30, 2022 and December 31, 2021 (Unaudited) | F-1 | |||
Statements of Operations for the Three and Six Months Ended June 30, 2022 and | ||||
2021 (Unaudited) | F-2 | |||
Statements of Shareholder's Deficit for the Six Months periods Ended June 30, 2022 | ||||
and 2021 | F-3 | |||
Statements of Cash Flows for the Six Months Ended June 30, 2022 and 2021 | ||||
(Unaudited) | F-4 | |||
Notes to the Financial Statements (Unaudited) | F-5 |
ITEM 1: FINANCIAL STATEMENTS | ||||||
EQ LABS, INC | ||||||
BALANCE SHEETS | ||||||
(UNAUDITED) | ||||||
June 30, 2022 December 31, 2021 | ||||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 2,886 | $ | 2,858 | ||
Inventory | 18,285 | 28,285 | ||||
Prepaid | 17,500 | 17,500 | ||||
Total current assets | 48,672 | 48,643 | ||||
Other assets | 500 | 500 | ||||
Total assets | $ | 49,172 | $ | 49,143 | ||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||
Current liabilities: | ||||||
Accounts payable and accrued liabilities | $ | 25,020 | $ | 22,366 | ||
PPP loan | 35,000 | 35,000 | ||||
Accrued liability - related party | 1,557,601 | 632,095 | ||||
Total current liabilities | 1,617,621 | 688,461 | ||||
Note payable- Related party | 889,002 | |||||
Total liabilities | 1,577,463 | |||||
Stockholders' deficit: | ||||||
Preferred stock, $0.0001 par value, 10,000,000 authorized, | ||||||
one issue or outstanding | 2 | 2 | ||||
Common stock, $0.0001 par value 2,090,000,000 authorized | ||||||
2,198,566,007 and 2,060,156,007 issued and outstanding, | ||||||
respectively | 223,696 | 216,987 | ||||
Additional paid in capital | 13,032,789 | 12,935,498 | ||||
Stock issuance liability | 3,500 | -- | ||||
Accumulated deficit | (14,828,437) | (14,680,807) | ||||
Total stockholders' deficit | (1,568,450) | (1,528,320) | ||||
Total liabilities and stockholder deficit | $ | 49,172 | $ | 49,143 |
The accompanying notes are an integral part of these unaudited financial statements.
F-1
EQ LABS, INC
STATEMENTS OF OPERATIONS
(UNAUDITED)
FOR THE THREE AND SIX MONTHS ENDED JUNE 30,
2022 | 2021 | 2022 | 2021 | |||||||
Revenue | $ | -- | $ | 5,676 | $ | -- | $ 10,308 | |||
Cost of goods sold | -- | 2,047 | -- | 3,666 | ||||||
Gross Margin | 3,629 | -- | 6,642 | |||||||
Operating expenses: | ||||||||||
General and administrative expense | 36,244 | 72,354 | 99,254 | 118,605 | ||||||
Loss from operations | (36,244) | (69,342) | (99,254) | 111,962) | ||||||
Other income (expense) | ||||||||||
-- | 56,296 | 56,297 | ||||||||
Interest | (23,817) | 54,092 | (48,376) | (45,723) | ||||||
Other expense | ||||||||||
Net income (loss) | (60,061) | $ 39,857 | $ | (147,630) | $ | (101,389) | ||||
Net loss per share, basic and diluted | $ (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.00) | |||
Weighted average number of shares | ||||||||||
outstanding; basic and diluted | 2,216,670,560 | 2,090,455,006 | 2,202,013,338 | 2,081,655,002 |
The accompanying notes are an integral part of these unaudited financial statements.
F-2
EQ LABS, INC
STATEMENT OF SHAREHOLDERS DEFICIT
FOR THREE MONTH PERIODS ENDING June 30, 2022 AND 2021
(UNAUDITED)
Additional | Common Stock | Accumulated | Shareholders | ||||||
Common Stock | Preferred Stock | paid in | not issued | Deficit | Deficit | ||||
Balance as of December 31,2020 | 2,060,156,007 | 206,016 | 1 | 2 | 12,776,005 | 20,550 | (14,445,600 | (1,443,027) | |
Common stock issued for cash | 16,250,000 | 16,250 | -- | -- | 33,375 | -- | -- | 35,000 | |
Net loss | -- | -- | --- | -- | - | -- | (141,246)) | (141,246) | |
Balance at March 31, 2021 | 2,076,396,007 | 207,640 | 1 | 2 | $ 12.809,380 | 20,550 | (14,586,846) | $ | (1,549,274) |
Common stock issued for cash | 18,060,000 | 1,806 | 50,695 | 52,501 | |||||
Net loss | 39,857 | 39,857 | |||||||
Balance at June 30, 2021 | 2,094,456,007 | 209,446 | 1 | 2 | 12,860,075 | 20,550 | (14,546,989) | (1,456,916) | |
Balance at December 31, 2021 | 2,169,866,007 | 216,987 | 1 | 2 | 12,935,498 | -- | (14,680,807) | (1,528,320) | |
Common stock issued for cash | 28,700,000 | 2,870 | - | -- | 53,630 | -- | -- | 56,500 | |
Common stock paid but not issued | -- | -- | -- | -- | -- | 3,500 | -- | 3,500 | |
Net loss | -- | -- | -- | -- | -- | -- | (87,569) | (87,569) | |
Balance at March 31, 2022 | 2,198,566,007 | $ 219,857 | 1 | 2 | 12,989,128 | 3,500 | (14,768,376) | (1,555,889) | |
Common stock issued for cash | 38,400,000 | 3,870 | -- | -- | 43,661 | -- | -- | 47,500 | |
-- | (60,061) | (60,061) | |||||||
Net loss | -- | -- | -- | -- | -- | ||||
Balance at June 30, 2022 | 2,236,966,007 | $ 223,696 | 1 | $ 2 | $13,032,789 | $ 3,500 | $(14,828,437) | $ (1,568,450) |
The accompanying notes are an integral part of these unaudited financial statements.
F-3
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Eq Energy Drink Inc. published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 16:43:12 UTC.
