Balance Sheet

v3.25.2

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash	$ 459	$ 12,144
Other current assets	1,300	9,100
Total current assets	1,759	21,244
Property and equipment, net		9,685
Operating lease right-of-use assets, net		112,079
Other assets	50,000	70,711
Total assets	51,759	213,719
Current liabilities:
Accounts payable	729,846	608,384
Accrued payroll and payroll taxes	2,186,086	1,868,973
Short-term promissory notes, less unamortized debt issuance costs of $61,938 and $139,794, respectively	262,062	174,206
Short-term convertible notes payable, less unamortized debt issuance costs of $181,719 and $130,252, respectively	2,307,986	1,891,736
Current portion of operating lease liabilities		69,946
Other current liabilities	3,408	1,742
Total current liabilities	5,489,388	4,614,987
Long-term liabilities:
Operating lease liabilities, net of current portion		56,356
Total long-term liabilities		56,356
Total liabilities	5,489,388	4,671,343
Stockholders’ deficit:
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 5,107 and 2,403 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively
Common stock, $0.0001 par value, 100,000,000 shares authorized; 1,605,377 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	161	161
Additional paid-in capital	11,363,685	10,223,939
Accumulated deficit	(16,801,475)	(14,681,724)
Total stockholders’ deficit	(5,437,629)	(4,457,624)
Total liabilities and stockholders’ deficit	$ 51,759	$ 213,719

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Balance Sheet

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