NUVIM, INC. Financial Statements
NuVim, Inc.
For the Period Ended March 31, 2022
NuVim, Inc,
Condensed Balance Sheets (unaudited)
March 31, 2022 | December 31, 2021 | |||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 972 | $ | 4,654 | ||
Prepaid | 1,375 | 2,750 | ||||
Total current assets | 2,347 | 7,404 | ||||
Total assets | $ | 2,347 | $ | 7,404 | ||
LIABILITIES & MEMBERS EQUITY | ||||||
Current liabilities: | ||||||
Accrued expenses | $ | 1,055 | $ | - | ||
Notes payable - current portion | - | 30,987 | ||||
Rescinded series B offering payable | - | 18,920 | ||||
Total current liabilities | 1,055 | 49,907 | ||||
Commitments & contingencies | - | - | ||||
Notes payable | 31,134 | 148,070 | ||||
Total liabilities | 32,190 | 197,977 | ||||
Stockholders' Deficit: | ||||||
Common Stock, 120,000,000 shares authorized, | ||||||
$.00001 par value, 101,914,821 shares issued and | ||||||
outstanding at March 31, 2022 and 98,956,639 | ||||||
outstanding at December 31, 2021 and 98,956,639 | 1,020 | 990 | ||||
Additional paid-in capital | 24,858,952 | 24,691,992 | ||||
Accumulated deficit | (24,889,815) | (24,883,555) | ||||
Total stockholders' deficit | (29,843) | (190,573) | ||||
Total liabilities and stockholders' deficit | $ | 2,347 | $ | 7,404 | ||
See the accompanying notes to the unaudited financial statements
NuVim, Inc,
Condensed Statement of Operations (unaudited)
Three months ended March 31, | |||||
2022 | 2021 | ||||
Gross sales | $ | 250 | $ | 230 | |
Gross profit | 250 | 230 | |||
Selling, general and administrative expenses | 6,362 | 3,725 | |||
Loss from operations | (6,112) | (3,495) | |||
Other income (expense) | |||||
Interest expense | (148) | (151) | |||
Total other income (expense) | (148) | (151) | |||
Net loss before income tax | (6,260) | (3,646) | |||
Income taxes (benefit) | - | - | |||
Net loss | $ | (6,260) | $ | (3,646) | |
Basic and diluted loss per share | 0.00 | 0.00 | |||
Weighted average number of common shares | 99,883,972 | 97,956,639 | |||
outstanding - basic and diluted | |||||
See the accompanying notes to the unaudited financial statements
NuVim, Inc,
Condensed Statement of Stockholders' Deficit (unaudited)
Three months ended March 31, 2022 and 2021
Common Stock | Additional Paid | Accumulated | |||||||||||
Shares | Amount | in Capital | Deficit | Total | |||||||||
Balance, December 31, 2021 | 98,956,639 | $ | 990 | $ | 24,691,992 | $ | (24,883,555) | $ | (190,573) | ||||
Common stock issued for conversion of debt | 2,940,000 | 29 | 148,041 | - | 148,070 | ||||||||
Common stock issued for conversion of rescinded series B | 18,182 | - | 18,920 | - | 18,920 | ||||||||
Net Loss | - | - | - | (6,260) | (6,260) | ||||||||
Balance, March 31, 2022 | $ 101,914,821 | $ | 1,019 | $ | 24,858,953 | $ | (24,889,815) | $ | (29,843) | ||||
Common Stock | Additional Paid | Accumulated | |||||||||||
Shares | Amount | in Capital | Deficit | Total | |||||||||
Balance, December 31, 2020 | 97,956,639 | $ | 980 | $ | 24,674,502 | $ | (24,861,753) | $ | (186,271) | ||||
Net Loss | - | - | - | (3,647) | (3,647) | ||||||||
Balance, March 31, 2021 | 97,956,639 | $ | 980 | $ | 24,674,502 | $ | (24,865,400) | $ | (189,918) |
See the accompanying notes to the unaudited financial statements
NuVim, Inc,
Condensed Statements of Cash Flows (unaudited)
Three months ended March 31, | ||||||
2022 | 2021 | |||||
Cash Flows From Operating Activities: | ||||||
Net Loss | $ | (6,260) | $ | (3,647) | ||
Changes in Operating Assets and Liabilities | ||||||
Prepaid expenses | 1,375 | 1,725 | ||||
Accounts payable and accrued expenses | 1,203 | 52 | ||||
Net cash used in operating activities | (3,681) | (1,870) | ||||
Cash Flows From Investing Activities: | - | - | ||||
Cash Flows From Finance Activities: | ||||||
Proceeds from note payable | - | 6,000 | ||||
Net Cash Provided by Finance Activities | - | 6,000 | ||||
Net increase in cash and cash equivalents | (3,681) | 4,130 | ||||
Cash and cash equivalents, beginning of the period | 4,654 | 2,226 | ||||
Cash and cash equivalents, end of the period | $ | 972 | $ | 6,356 | ||
Supplemental disclosures of cash flow information: | ||||||
Cash paid during the period for interest | - | - | ||||
Cash paid during the period for income taxes | - | - | ||||
Supplemental disclosures of non cash transactions: | ||||||
Common stock issued for conversion of debt | $ | 148,070 | $ | - | ||
Common stock issued for conversion of rescinded series B | $ | 18,920 | $ | - | ||
See the accompanying notes to the unaudited financial statements
NuVim, Inc.
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NuVim Inc. published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 02:00:05 UTC.
