SPROUT TINY HOMES, INC. Sprout Tiny Homes, Inc.
Financial Statements
June 30, 2022 (unaudited) and December 31, 2021 (unaudited)
Sprout Tiny Homes, Inc.
Financial Statements
Table of Contents
Unaudited Financial Statements | |
Balance Sheets (unaudited) as of June 30, 2022 and December 31, 2021............................................................................ | F-3 |
Statements of Operations (unaudited) for the three and six months ended June 30, 2022 and 2021.................................... | F-4 |
Statements of Shareholders' Deficit (unaudited) for the six months ended June 30, 2022................................................... | F-5 |
Statements of Cash Flows (unaudited) for the six months ended June 30, 2022 and 2021 .................................................. | F-6 |
Notes to Financial Statements.............................................................................................................................................. | F-7 |
F-2
Sprout Tiny Homes, Inc.
Balance Sheets
As of June 30, 2022 and December 31, 2021
(unaudited) | (unaudited) | ||||
June 30, | Dec 31, | ||||
2022 | 2021 | ||||
ASSETS | |||||
Current Assets: | |||||
Cash and cash equivalents | $ | 78,532 | $ | 355,152 | |
Accounts receivable, net | 281,876 | - | |||
Earnings in excess of billings and estimated earnings on | - | ||||
uncompleted contracts | 292,169 | ||||
Prepaid and other assets | 75,750 | 75,750 | |||
Total current assets | 728,327 | 430,902 | |||
Other assets | 2,102,133 | 1,486,229 | |||
Total Assets | $ | 2,841,050 | $ | 1,917,130.55 | |
LIABILITIES AND SHAREHOLDERS' DEFICIT | |||||
Current Liabilities: | |||||
Accounts payable and accrued liabilities | $ | 2,948,131 | $ | 2,331,813 | |
Accounts payable and accrued liabilities - related parties | 409,536 | 477,526 | |||
Customer deposits, factory built homes | 18,190 | 131,590 | |||
Customer deposits, land sales | 2,387 | 2,387 | |||
Convertible notes payable, in default | 1,087,202 | 1,087,202 | |||
Convertible notes payable, net of discounts, - related party | 282,425 | 472,235 | |||
Convertible notes payable, in default - related party | 350,000 | 350,000 | |||
Notes payable, current | 220,000 | 220,000 | |||
Notes payable, in default | 2,717,889 | 2,717,889 | |||
Total current liabilities | 8,035,759 | 7,790,641 | |||
Notes payable, long-term, net of discounts and deferred | |||||
financing costs | - | - | |||
Total liabilities | 8,035,759 | 7,790,641 | |||
Shareholders' Deficit: | |||||
Common stock, $0.001 par value, 300,000,000 shares | |||||
authorized, 99,924,718 and 83,997,290 issued and | |||||
outstanding at June 30, 2022 and December 31, 2021, | |||||
respectively | 99,928 | 83,999 | |||
Common stock issuable, 1,375,000 and 1,375,000 shares | |||||
outstanding at June 30, 2022 and December 31, 2021, | 36,994 | 36,994 | |||
respectively | |||||
Additional paid in capital | 16,029,006 | 14,674,699 | |||
Accumulated deficit | (21,360,637) | (20,669,202) | |||
Total Shareholders' Deficit | (5,194,709) | (5,873,510) | |||
Total Liabilities and Shareholders' Deficit | $ | 2,841,050 | $ | 1,917,131 |
The accompanying notes are an integral part of these financial statements.
F-3
Sprout Tiny Homes, Inc.
Statements of Operations
For the three and six months ending June 30, 2022 and June 30, 2021
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||
Three Months | Three Months | Six Months | Six Months | ||||||||
Ended | Ended | Ended | Ended | ||||||||
June 30, 2022 | June 30, 2021 | June 30, 2022 | June 30, 2021 | ||||||||
Total Revenue | $ | 3,289,592 | $ | - | $ | 3,588,946 | $ | - | |||
Cost of goods sold | 2,689,605 | - | 3,003,773 | - | |||||||
Gross Margin | 599,987 | - | 585,173 | - | |||||||
Costs and Expenses | |||||||||||
Sales and marketing expense | 8,991 | - | 17,870 | - | |||||||
General and administrative expense | 174,770 | 411,000 | 588,846 | 415,320 | |||||||
Accounting and finance expense | 74,318 | 6,614 | 182,902 | 7,150 | |||||||
Facilities expense | 18,734 | 2,455 | 34,466 | 2,455 | |||||||
Depreciation and amortization expense | - | 30,600 | - | 61,200 | |||||||
Total Costs and Expenses | 276,813 | 450,669 | 824,084 | 486,125 | |||||||
Operating Income (Loss) | $ | 323,174 | $ | (450,669) | $ | (238,911) | $ | (486,125) | |||
Other Income (Expense) | |||||||||||
Other income (expense) | 248 | - | 381 | - | |||||||
Gain (loss) on sale of land | - | (27,384) | - | (27,384) | |||||||
Interest (expense) | (258,888) | (142,621) | (452,906) | (356,276) | |||||||
Gain on settlement of debt and accrued | |||||||||||
liabilities | - | - | - | 1,762,172 | |||||||
Total Other Income (Expense) | (258,640) | (170,005) | (452,525) | 1,378,512 | |||||||
Net Income (Loss) | $ | 64,534 | $ | (620,674) | $ | (691,436) | $ | 892,387 | |||
Net Income (Loss) Per Share | |||||||||||
Numerator | |||||||||||
Net Income (loss) | $ | 64,534 | $ | (620,674) | $ | (691,436) | $ | 892,387 | |||
Denominator | |||||||||||
Weighted average common | |||||||||||
shares outstanding | 99,924,718 | 63,399,197 | 89,652,539 | 63,399,197 | |||||||
Potential diluted shares | - | - | - | - | |||||||
Weighted average diluted | |||||||||||
shares outstanding | 99,924,718 | 63,399,197 | 89,652,539 | 63,399,197 | |||||||
Net Income (loss) per share | |||||||||||
Basic | $ | 0.00 | $ | (0.01) | $ | (0.01) | $ | 0.01 | |||
Diluted | $ | 0.00 | $ | (0.01) | $ | (0.01) | $ | 0.01 |
The accompanying notes are an integral part of these financial statements.
F-4
5-F | integral an are notes accompanying The |
.statements financial these of part |
Sprout Tiny Homes, Inc. | |||||||||||||||||||||||
Statements of Shareholders' Deficit | |||||||||||||||||||||||
For the periods ended June 30, 2022 and December 31, 2021 | |||||||||||||||||||||||
Additional Paid | |||||||||||||||||||||||
Preferred Stock | Common Stock | Common Stock Issuable | in | ||||||||||||||||||||
Capital | |||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Deficit | Total | ||||||||||||||||
Balance December 31, 2020 (audited) | - | $ | - | 71,678,957 | $ | 71,680 | 1,375,000 | $ | 36,994 | $ | 11,744,967 | $ (20,718,835) | $ | (8,865,195) | |||||||||
Shares issued for cash | - | - | 333,333 | 333 | - | - | 49,667 | - | 50,000 | ||||||||||||||
Shares issued for consulting services | - | - | 4,360,000 | 4,360 | - | - | 1,349,440 | - | 1,353,802 | ||||||||||||||
Shares issued for services, related party | - | - | 375,000 | 375 | - | - | 75,375 | - | 75,750 | ||||||||||||||
Shares issued for purchase of Legacy Homes | - | - | 7,000,000 | 7,000 | - | - | 1,393,000 | - | 1,400,000 | ||||||||||||||
Shares issued for legal services | - | - | 250,000 | 250 | - | - | 62,250 | - | 62,500 | ||||||||||||||
Net (loss) | - | - | - | - | - | - | - | 49,633 | 49,633 | ||||||||||||||
Balance December 31, 2021 (unaudited) | - | $ | - | 83,997,290 | $ | 83,999 | 1,375,000 | $ | 36,994 | $ | 14,674,699 | $ (20,669,202) | $ | (5,873,510) | |||||||||
Shares issued for cash | - | - | 196,428 | 196 | - | - | 10,804 | - | 11,000 | ||||||||||||||
Shares issued for consulting services | - | - | 3,000,000 | 3,000 | - | - | 263,100 | - | 266,100 | ||||||||||||||
Shares issued as debt discoount, related party | - | - | 5,731,000 | 5,733 | - | - | 466,503 | - | 472,236 | ||||||||||||||
Shares issued for purchase of Pure Zero Construction | - | - | 7,000,000 | 7,000 | - | - | 613,901 | - | 620,901 | ||||||||||||||
Net (loss) | - | - | - | - | - | - | - | (691,436) | (691,436) | ||||||||||||||
Balance June 30, 2022 (unaudited) | - | $ | - | 99,924,718 | $ | 99,928 | 1,375,000 | $ | 36,994 | $ | 16,029,006 | $ (21,360,638) | $ | (5,194,709) | |||||||||
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Sprout Tiny Homes Inc. published this content on 13 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2022 19:52:01 UTC.
