WINNERS, INC. AND SUBSIDIARY | |
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Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 (Unaudited) | 2 |
Condensed Consolidated Statements of Operations for the Three Months Ended | |
March 31, 2022 and 2021 (Unaudited) | 3 |
Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended | |
March 31, 2022 and 2021 (Unaudited) | 4 |
Condensed Consolidated Statements of Cash Flows for the Three Months Ended | |
March 31, 2022 and 2021 (Unaudited) | 6 |
Notes to Condensed Consolidated Financial Statements (Unaudited) | 7 |
WINNERS, INC. AND SUBSIDIARY | ||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||
(unaudited) | ||||
March 31, | December 31, | |||
2022 | 2021 | |||
ASSETS | ||||
Current assets: | ||||
Cash | $ | 269,954 | $ | 871,048 |
Accounts receivable | - | 24,788 | ||
Prepaid expenses and other current assets | 53,813 | 48,666 | ||
Note receivable and accrued interest - Clickstream Corp. - related party | 62,705 | - | ||
Total current assets | 386,472 | 944,502 | ||
Total assets | $ | 386,472 | $ | 944,502 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Current liabilities: | ||||
Accounts payable and accrued expenses | $ | 6,291 | $ | 4,662 |
Note payable and accrued interest - Clickstream Corp. - related party | - | 151,919 | ||
Total current liabilities | 6,291 | 156,581 | ||
Commitments and contingencies (See Note 10) | ||||
Series A convertible preferred stock, $0.001 par value, 10,000,000 shares authorized; | ||||
8,458,334 and 9,000,000 shares issued and outstanding, respectively | 8,458 | 9,000 | ||
Stockholders' equity: | ||||
Common stock, $0.0001 par value, 4,000,000,000 shares authorized; | ||||
280,317,986 and 280,090,934 shares issued and outstanding, respectively | 280,318 | 280,091 | ||
Common stock to be issued, 3,421,870 and 0 shares, respectively | 3,422 | - | ||
Additional paid-in capital | 5,310,346 | 5,240,674 | ||
Non-controlling interest in subsidiary | (2,879) | (2,629) | ||
Accumulated deficit | (5,219,484) | (4,739,215) | ||
Total stockholders' equity | 371,723 | 778,921 | ||
Total liabilities and stockholders' equity | $ | 386,472 | $ | 944,502 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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WINNERS, INC. AND SUBSIDIARY | ||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
(unaudited) | ||||
For the Three Months Ended March 31, | ||||
2022 | 2021 | |||
Revenues | $ | 15,123 | $ | 1,956 |
Operating expenses: | ||||
Selling, general and administrative expenses | 441,642 | 656,439 | ||
Total operating expenses | 441,642 | 656,439 | ||
Loss from operations | (426,519) | (654,483) | ||
Other income (expense): | ||||
Interest income | 18 | - | ||
Interest expense | (393) | (430,374) | ||
Total other income (expense), net | (375) | (430,374) | ||
Loss before non-controlling interest | (426,894) | (1,084,857) | ||
Less: Non-controlling interest | (250) | (129) | ||
Net loss | (426,644) | (1,084,728) | ||
Deemed dividend resulting from redemption of Series A shares | (53,625) | - | ||
Net loss available to common stockholders | $ | (480,269) | $ | (1,084,728) |
Net loss per common share, basic and diluted | $ | (0.00) | $ | (0.01) |
Weighted average number of common shares outstanding, basic | ||||
and diluted | 283,317,291 | 188,834,110 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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WINNERS, INC. AND SUBSIDIARY | ||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY | ||||||||||||||
FOR THE THREE MONTHS ENDED MARCH 31, 2022 | ||||||||||||||
(unaudited) | ||||||||||||||
Additional | ||||||||||||||
Common Stock | Common Stock To Be Issued | Paid-in | Non-controlling | Accumulated | ||||||||||
Shares | Amount | Shares | Amount | Capital | Interest | Deficit | Total | |||||||
Balance, December 31, 2021 | 280,090,934 | $ | 280,091 | - | $ | - | $ | 5,240,674 | $ | (2,629) | $ | (4,739,215) | $ | 778,921 |
Issuance of common shares for services | 227,052 | 227 | 3,421,870 | 3,422 | 69,672 | - | - | 73,321 | ||||||
Redemption of Series A preferred shares | - | - | - | - | - | - | (53,625) | (53,625) | ||||||
Non-controlling interest | - | - | - | - | - | (250) | - | (250) | ||||||
Net loss | - | - | - | - | - | - | (426,644) | (426,644) | ||||||
Balance, March 31, 2022 | 280,317,986 | $ | 280,318 | 3,421,870 | $ | 3,422 | $ | 5,310,346 | $ | (2,879) | $ | (5,219,484) | $ | 371,723 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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WINNERS, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
FOR THE THREE MONTHS ENDED MARCH 31, 2021
(unaudited)
Additional | |||||||||||||||||||||
Common Stock | Common Stock To Be Issued | Paid-in | Non-controlling | Accumulated | |||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Interest | Deficit | Total | ||||||||||||||
Balance, December 31, 2020 | 184,579,250 | $ | 184,579 | 961,550 | $ | 962 | $ | 541,466 | $ | (935) | $ | (1,448,419) | $ | (722,347) | |||||||
Issuance of common shares for cash | 51,000,000 | 51,000 | - | - | 2,447,000 | - | - | 2,498,000 | |||||||||||||
Issuance of common shares for services | 566,567 | 567 | - | - | 118,412 | - | - | 118,979 | |||||||||||||
Conversion of convertible debt into common shares | 15,500,000 | 15,500 | - | - | 759,500 | - | - | 775,000 | |||||||||||||
Non-controlling interest | - | - | - | - | - | (129) | - | (129) | |||||||||||||
Net loss | - | - | - | - | - | - | (1,084,728) | (1,084,728) | |||||||||||||
Balance, March 31, 2021 | 251,645,817 | $ | 251,646 | 961,550 | $ | 962 | $ | 3,866,378 | $ | (1,064) | $ | (2,533,147) | $ | 1,584,775 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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Winners Inc. published this content on 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2022 21:37:10 UTC.