0001493152-20-005808.txt : 20200403 0001493152-20-005808.hdr.sgml : 20200403 20200403170750 ACCESSION NUMBER: 0001493152-20-005808 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 69 CONFORMED PERIOD OF REPORT: 20191231 FILED AS OF DATE: 20200403 DATE AS OF CHANGE: 20200403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUANTA INC CENTRAL INDEX KEY: 0001691430 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 812749032 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-56025 FILM NUMBER: 20774458 BUSINESS ADDRESS: STREET 1: 3606 W MAGNOLIA BLVD CITY: BURBANK STATE: CA ZIP: 91505 BUSINESS PHONE: (818) 940-1617 MAIL ADDRESS: STREET 1: 3606 W MAGNOLIA BLVD CITY: BURBANK STATE: CA ZIP: 91505 FORMER COMPANY: FORMER CONFORMED NAME: FREIGHT SOLUTION INC DATE OF NAME CHANGE: 20161202 10-K 1 form10-k.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-K

 

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2019

 

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from _____________to ____________

 

000-56025

Commission file number

 

Quanta, Inc.

(formerly known as Freight Solution, Inc.)

(Exact name of registrant as specified in its charter)

 

Nevada   81-2749032
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)

 

3606 W Magnolia Blvd, Burbank, CA   91505
(Address of principal executive offices)   (Zip Code)

 

(424) 261-2568

Registrant’s telephone number, including area code

 

Securities registered under Section 12(b) of the Exchange Act: None

 

Securities registered under Section 12(g) of the Exchange Act:

Common Stock, par value $0.001

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ] No [X]

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [  ] No [X]

 

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [  ]

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes [X] No [  ]

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer [  ] Accelerated filer [  ] Non-accelerated filer [  ]

 

Smaller reporting company [X] Emerging growth company [X]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ] No [X]

 

The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter was $41,203,885.

 

As of April 3, 2020, the registrant had 55,322,712 shares of Common Stock outstanding.

 

 

 

 
 

 

TABLE OF CONTENTS

 

Item 1. Business. 4
Item 1A. Risk Factors 7
Item 1B. Unresolved Staff Comments. 14
Item 2. Properties. 14
Item 3. Legal Proceedings. 14
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 15
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. 16
Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 22
Item 8. Financial Statements and Supplementary Data. 22
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 22
Item 9A. Controls and Procedures. 23
Item 9B. Other Information. 23
Item 10. Directors, Executive Officers and Corporate Governance. 24
Item 11. Executive Compensation. 26
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 27
Item 13. Certain Relationships and Related Transactions, and Director Independence. 33
Item 14. Principal Accounting Fees and Services. 33
Item 15. Exhibits, Financial Statement Schedules. 34
SIGNATURES 37

 

2

 

 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

This report contains forward-looking statements that involve a number of risks and uncertainties. Although our forward-looking statements reflect the good faith judgment of our management, these statements can be based only on facts and factors of which we are currently aware. Consequently, forward-looking statements are inherently subject to risks and uncertainties. Actual results and outcomes may differ materially from results and outcomes discussed in the forward-looking statements.

 

Forward-looking statements can be identified by the use of forward-looking words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “plan,” “future,” “intend,” “could,” “estimate,” “predict,” “hope,” “potential,” “continue,” or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements under the captions “Risk Factors,” “Management’s Discussion and Analysis or Plan of Operation” and “Description of Business,” as well as other sections in this report. Such forward-looking statements are based on our management’s current plans and expectations and are subject to risks, uncertainties and changes in plans that may cause actual results to differ materially from those anticipated in the forward-looking statements. You should be aware that, as a result of any of these factors materializing, the trading price of our common stock may decline. These factors include, but are not limited to, the following:

 

  the availability and adequacy of capital to support and grow our business;
  economic, competitive, business and other conditions in our local and regional markets;
  actions taken or not taken by others, including competitors, as well as legislative, regulatory, judicial and other governmental authorities;
  competition in our industry;
  changes in our business and growth strategy, capital improvements or development plans;
  the availability of additional capital to support development; and
  other factors discussed elsewhere in this annual report.

 

The cautionary statements made in this annual report are intended to be applicable to all related forward-looking statements wherever they may appear in this report.

 

We urge you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly update any forward looking-statements, whether as a result of new information, future events or otherwise.

 

3

 

 

PART I

 

Item 1. Business.

 

The Merger

 

Effective June 6, 2018, Quanta, Inc., formerly known as Freight Solution, Inc., a Nevada corporation (the “Registrant” or the “Company”) consummated an Agreement of Merger and Plan of Reorganization (the “Merger Agreement”), with Bioanomaly, Inc., a California corporation d/b/a Quanta (“Quanta”) and Quanta Acquisition Corp., a California corporation and wholly-owned subsidiary of the Company (“Acquisition”). Pursuant to the terms of the Merger Agreement, Acquisition merged with and into Quanta in a statutory reverse merger (the “Merger”) with Quanta surviving as a wholly-owned subsidiary of the Company.

 

Pursuant to the merger agreement, all the shareholders of Bioanomaly exchanged all of their shares of Bioanomaly for an aggregate of 21,908,810 newly issued shares of Freight Solution’s common stock. Freight Solution shareholders retained 6,500,000 shares of common stock, which represents 23% of the issued and outstanding stock following the merger.

 

Simultaneously with the Merger, the Company accepted subscriptions for 6,500,000 shares of common stock in a private placement offering (the “Offering”) at a purchase price of $0.20 per share, offered pursuant to Regulation D of the Securities Act of 1933, as amended (the “Securities Act”) for the aggregate offering amount of $1,300,000. The Company also issued two non-affiliated individuals four-year warrants to purchase 3,000,000 shares of common stock at an exercise price of $0.30 per share.

 

Following the consummation of the Merger, Quanta shareholders beneficially owned approximately sixty-three percent (63%) of the issued and outstanding Common Stock of the Registrant.

 

Overview

 

Quanta is an applied science company focused on increasing energy levels in plant matter to increase performance within the human body. Our proprietary technology uses quantum mechanics to increase bio-activity of targeted molecules to enhance the desired effects. We specialize in potentiating rare naturally occurring elements to create impactful and sustainable healing solutions that we believe will one day be as powerful and predictable as pharmaceutical drugs.

 

We offer our technology as a platform, making it accessible to existing high-quality product makers with existing distribution channels, as well as consumer products. Our mission is to power as many impactful, high-performing and wholly organic solutions as possible through product lines and a series of licensing and distribution partnerships.

 

Bioanomaly Inc. was founded in 2016 by a group of technology and industry entrepreneurs and provides licensed technology solutions to natural product companies in multiple verticals. Our headquarters is located in Burbank, California.

 

Quanta Basics

 

Quanta, Inc. (“Quanta”) is a cutting-edge technology platform whose patented, proprietary technology harnesses advances in quantum biology to increase the potency of active ingredients. Currently, Quanta supports product formulations in pain management, anti-inflammation, skincare, agriculture, nutritional supplements, and plant-based consumables. Ultimately, Quanta’s mission is to deliver better, more effective ingredients to elevate product efficacy, reduce waste and facilitate healthier, more sustainable consumption.

 

The established resonance theory behind Quanta’s polarization process has many potential applications. From potentiating bio-ingredients to produce more-effective carbon-trapping plants to transformative anti-aging solutions Quanta’s technology has the opportunity to upend how commercial products are made and the benefits from them. Already we see multi-trillion-dollar global industries benefiting from Quanta’s technology.

 

Our proof of concept, Quanta’s market-leading CBD pain-relief rub (“Muscle Rub”), is only the first in a series of paradigm shift products to emerge from our labs. At the heart of its well-documented effectiveness is our proprietary “polarization” process, which uses electromagnetic force to markedly enhance bioactivity at the molecular level—a polarized active ingredient is more soluble and creates stronger bonds with the body’s receptors. This allows us to enhance ingredients so they work faster and more powerfully without the use of chemical by-products or cellular penetration. Quanta believes this natural solution has nearly limitless applications in the world of plant-based consumer products.

 

4

 

 

Quanta is involved in ambitious projects that we believe will reshape the next wave of climate science, sustainability, nutrition, and more. Having harnessed the technology of the future, Quanta is dedicated to bringing tomorrow’s health and wellness solutions to the billions in need today.

 

Proof of Concept

 

Creating, producing and selling consumer products was never our primary focus; Quanta’s Muscle Rub was simply a means to an end - proof of concept and a revenue driver in a small emerging market as our business model took shape. Fundamentally, Quanta will be a licensing concern designed to collaborate with large brands to improve product quality and the profit margins of existing and new products. But the market needed proof and we chose to start in the under-developed category of CBD because of its speed to market.

 

Understandably, we met the same initial hurdles every start-up encounters. In addition to simply explaining quantum mechanics, we had no track record of success from a business standpoint. The immediate goal was to prove our model was defensible. Hence, we chose CBD as a launch category. This market provided protection from industry titans that may have felt threatened by such a powerful technology while allowing us to drive profits during R&D.

 

Over the last two years, we have developed and sold products largely to the medical industry, along with some consumer retail. This effort was designed to drive revenue and to prove the concept of our model: that polarizing a single ingredient can produce a demonstrably superior product that consumers find safe and effective (establish consumer appetite).

 

Discovery Synopsys

 

Using our product development process and business-to-business and direct-to-consumer sales approaches as a benchmark for future business, we developed the Quanta business model. Our technology’s unique ability to strengthen ingredients renders them more potent without added chemicals or penetrating cells means Quanta is in a first-of-its-kind position in the market. As the world’s first company focused on Quantum Biology we sit in a strong, but unique position in the market.

 

Our ability to increase ingredient efficacy by up to 500% means we are in a rare position to truly disrupt many areas of material science.

 

Quanta’s technology renders products superior to any on the market today. A 30% re-purchase rate (on one SKU alone) illustrates consumer appetite for the product.

 

Upcoming products and ventures will be designed to achieve or surpass this level of consumer benefit and uptake.

 

Quanta Business Model in 3 P’s: Potentiation, Partners, and Profits

 

After two years we believe the best possible model for the long-term success of the company is collaborating with best-in-class partners through joint ventures for new verticals, products, and research. These joint ventures may involve a jointly owned special purpose entity or they may be entirely based on contractual obligations.

 

Our mission has never been to create the best novel products on the planet. Our mission has always been to revolutionize the way formulations are developed and how products perform. We seek to work with the best product makers in the world to positively impact as many industries as possible.

 

The unique ability to increase the ingredient and product performance opens the doors for major opportunities. Higher performing ingredients mean less is needed to make a strong impact (increased margins, increase overall efficacy). We proved this with our Muscle Rub, which uses approximately 1/3 the CBD of competing products with demonstrably improved results.

 

5

 

 

The level of potentiation delivered by Quanta allows our partners the unique ability to provide higher-performing products, lower material costs, more competitive pricing and increased profit margins. In short, our partners will be able to make better performing, more affordable products with a higher repeat purchase. This is true disruption and consumer utopia.

 

We aim to work with groups that specialize in manufacturing, marketing, selling and distributing existing product lines that utilize ingredients we can potentiate. Partners like this facilitate efficient market delivery of joint innovations.

 

We believe this strategy provides greater shareholder value, enhances revenue potential, defrays upfront expenses and affords us the ability to raise capital for new projects without massive dilution.

 

Ultimately, these ventures would result in licensing out our technology to other reputable brands and companies to create co-branded products whereas the term “Powered by Quanta” becomes as recognized as “Intel Inside.”

 

We believe this type of partnership will afford a company Quanta partners with:

 

  Development of emerging products with cutting edge ingredients.
     
  A product line with a true point of differentiation.
     
  New SKUs with an increased margin.
     
  Decreased cost of goods sold.

 

Simultaneously these partnerships will allow Quanta:

 

  Greater brand recognition.
     
  Increased revenue and in turn profitability.
     
  Quicker timeline to more licensing opportunities because of a track record of success.
     
  Brand to become synonymous with improving the performance of ingredients within products.

 

Manufacturing Partnerships -

 

Quanta is currently focused on partnering with large-scale manufacturers and distributors able to produce products that meet the requirements of applicable regulations IE: Good Manufacturing Practices to fulfill orders of our own product line. This type of partnership is crucial because it will afford:

 

  New product development that meets certification requirements
     
  Much larger production scale
     
  Speed to market
     
  Increased distribution and profitability

 

With our licensing capabilities, Quanta technology can render better, more efficacious products that cost less to create but command a higher purchase value because of polarized ingredients. This, in turn, allows companies to diversify their catalog of products while simultaneously providing them with a distinguished advantage. More efficacious ingredients.

 

Employees

 

As of the date of this report, Quanta has 21 full time and 2 part time employees. We believe we enjoy good employee relations. None of our employees are members of any labor union, and we are not a party to any collective bargaining agreement.

 

6

 

 

Government Regulation

 

We believe we are in compliance with applicable federal, state and other regulations and that we have compliance programs in place to ensure compliance going forward. There are no regulatory notifications or actions pending.

 

Item 1A. Risk Factors.

 

Risks Related to the Business

 

There is substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing.

 

We have yet to establish any history of profitable operations. For the year ended December 31, 2019, the Company incurred a net loss of $5,787,364 and used cash in operating activities of $2,221,320, and at December 31, 2019, the Company had a had a working capital deficiency of $113,909. In addition, the Company’s independent registered public accounting firm, in their report on the Company’s December 31, 2019 audited financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. This going concern opinion could materially limit our ability to raise additional funds through the issuance of new debt or equity securities and future reports on our financial statements may also include an explanatory paragraph with respect to our ability to continue as a going concern.

 

At December 31, 2019, the Company had cash on hand in the amount of $433,143. Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and $30,000 for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing

 

7

 

 

Quanta is and will continue to be completely dependent on the services of our Chief Executive Officer and President, the loss of whose services may cause our business operations to cease, and we will need to engage and retain qualified employees and consultants to further implement our strategy.

 

Quanta’s operations and business strategy are completely dependent upon the knowledge and business connections of Eric Rice and Jeffrey Doiron. They are under no contractual obligation to remain employed by us. If any should choose to leave us for any reason or become ill and unable to work for an extended period of time before we have hired additional personnel, our operations will likely fail. Even if we are able to find additional personnel, it is uncertain whether we could find someone who could develop our business along the lines described in this Annual Report on Form 10-K. We will likely fail without the services of our officers or an appropriate replacement(s).

 

Because we have only recently commenced business operations, we face a high risk of business failure.

 

The Company was formed in 2016. We face a high risk of business failure. The likelihood of the success of the Company must be considered in light of the expenses, complications and delays frequently encountered in connection with the establishment and expansion of new businesses and the competitive environment in which the Company will operate. There can be no assurance that future revenues will occur or be significant enough or that we will be able to sell its products and services at a profit, if at all. Future revenues and/or profits, if any, will depend on many various factors, including, but not limited to both initial and continued market acceptance of the Company’s website and the successful implementation of its planned growth strategy.

 

8

 

 

We may not be successful in hiring technical personnel because of the competitive market for qualified technical people.

 

The Company’s future success depends largely on its ability to attract, hire, train and retain highly qualified technical personnel to provide the Company’s services. Competition for such personnel is intense. There can be no assurance that the Company will be successful in attracting and retaining the technical personnel it requires to conduct and expand its operations successfully and to differentiate itself from its competition. The Company’s results of operations and growth prospects could be materially adversely affected if the Company were unable to attract, hire, train and retain such qualified technical personnel.

 

We may be unable to adequately establish, protect or enforce our intellectual property rights.

 

Our success depends in part upon our ability to establish, protect and enforce our intellectual property and other proprietary rights. If we fail to establish, protect or enforce our intellectual property rights, we may lose an important advantage in the market in which we compete. We rely on a combination of trademark, copyright and trade secret law and contractual obligations to protect our key intellectual property rights, all of which provide only limited protection. Our intellectual property rights may not be sufficient to help us maintain our position in the market and our competitive advantages.

 

We primarily rely on trade secrets to protect our proprietary technology. Trade secrets may not be protectable if not properly kept confidential. We strive to enter into non-disclosure agreements with our employees, customers, contractors and business partners to limit access to and disclosure of our proprietary information. However, the steps we have taken may not be sufficient to prevent unauthorized use of our technology, and adequate remedies may not be available in the event of unauthorized use or disclosure of our trade secrets and proprietary technology. Moreover, others may reverse engineer or independently develop technologies that are competitive to ours or infringe our intellectual property.

 

9

 

 

Accordingly, despite our efforts, we may be unable to prevent third-parties from using our intellectual property for their competitive advantage. Any such use could have a material adverse effect on our business, results of operations and financial condition. Monitoring unauthorized uses of and enforcing our intellectual property rights can be difficult and costly. Legal intellectual property actions are inherently uncertain and may not be successful, and may require a substantial amount of resources and divert our management’s attention.

 

Claims by others that we infringe their intellectual property could force us to incur significant costs or revise the way we conduct our business.

 

Our competitors protect their proprietary rights by means of patents, trade secrets, copyrights, trademarks and other intellectual property. We have not conducted an independent review of patents and other intellectual property issued to third-parties, who may have patents or patent applications relating to our proprietary technology. We may receive letters from third parties alleging, or inquiring about, possible infringement, misappropriation or violation of their intellectual property rights. Any party asserting that we infringe, misappropriate or violate proprietary rights may force us to defend ourselves, and potentially our customers, against the alleged claim. These claims and any resulting lawsuit, if successful, could subject us to significant liability for damages and/or invalidation of our proprietary rights or interruption or cessation of our operations. Any such claims or lawsuit could:

 

  be time-consuming and expensive to defend, whether meritorious or not;
     
  require us to stop providing products or services that use the technology that allegedly infringes the other party’s intellectual property;
     
  divert the attention of our technical and managerial resources;
     
  require us to enter into royalty or licensing agreements with third-parties, which may not be available on terms that we deem acceptable;
     
  prevent us from operating all or a portion of our business or force us to redesign our products, services or technology platforms, which could be difficult and expensive and may make the performance or value of our product or service offerings less attractive;
     
  subject us to significant liability for damages or result in significant settlement payments; or
     
  require us to indemnify our customers.

 

Furthermore, during the course of litigation, confidential information may be disclosed in the form of documents or testimony in connection with discovery requests, depositions or trial testimony. Disclosure of our confidential information and our involvement in intellectual property litigation could materially adversely affect our business. Some of our competitors may be able to sustain the costs of intellectual property litigation more effectively than we can because they have substantially greater resources. In addition, any litigation could significantly harm our relationships with current and prospective customers. Any of the foregoing could disrupt our business and have a material adverse effect on our business, operating results and financial condition.

 

We have identified material weaknesses in our disclosure controls and procedures and internal control over financial reporting.

 

Maintaining effective internal control over financial reporting and effective disclosure controls and procedures are necessary for us to produce reliable financial statements. As discussed in Item 9A – “Controls and Procedures” of this Form 10-K, we have evaluated our internal control over financial reporting and our disclosure controls and procedures and concluded that they were not effective as of December 31, 2019.

 

A material weakness is defined as a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. The material weaknesses we identified are (i) We do not have written documentation of our internal control policies and procedures, including written policies and procedures to ensure the correct application of accounting and financial reporting with respect to the current requirements of U.S. GAAP and SEC disclosure requirements; and (ii) The Company did not maintain effective policies to ensure adequate segregation of duties within its accounting processes. Specifically, due to the size of the Company and the smaller nature of department teams, opportunities are limited to segregate duties, resulting in inabilities to soundly manage segregation of job responsibilities.

 

The Company is committed to remediating its material weaknesses as promptly as possible. Implementation of the Company’s remediation plans has commenced and is being overseen by the board. However, there can be no assurance as to when these material weaknesses will be remediated or that additional material weaknesses will not arise in the future. Even effective internal control can provide only reasonable assurance with respect to the preparation and fair presentation of financial statements. Any failure to remediate the material weaknesses, or the development of new material weaknesses in our internal control over financial reporting, could result in material misstatements in our financial statements, which in turn could have a material adverse effect on our financial condition and the trading price of our common stock and we could fail to meet our financial reporting obligations. We have identified weaknesses in our internal controls, and we cannot provide assurances that these weaknesses will be effectively remediated or that additional material weaknesses will not occur in the future.

 

If not remediated, our failure to establish and maintain effective disclosure controls and procedures and internal control over financial reporting could result in material misstatements in our financial statements and a failure to meet our reporting and financial obligations, each of which could have a material adverse effect on our financial condition and the trading price of our common stock.

 

The recent global coronavirus outbreak could harm our business and results of operations.

 

In March 2020, the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, have adversely affected workforces, customers, economies, and financial markets globally, likely leading to an economic downturn. It has also disrupted the normal operations of many businesses. This outbreak could decrease spending, adversely affect demand for our product and harm our business and results of operations. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business or results of operations at this time.

 

Risks Related to Our Securities

 

Our Chairman, Chief Executive Officer and Chief Financial Officer currently own a majority of our voting power, and through this ownership, controls our Company and our corporate actions.

 

Eric Rice, our current Chairman, Chief Executive Officer and Chief Financial Officer currently holds approximately 32.5% of the voting power of the Company’s outstanding voting capital stock. He has a controlling influence in determining the outcome of any corporate transaction or other matters submitted to our stockholders for approval, including mergers, consolidations and the sale of all or substantially all of our assets, election of directors, and other significant corporate actions. As such, this shareholder has the power to prevent or cause a change in control; therefore, without the aforementioned consent we could be prevented from entering into transactions that could be beneficial to us. The interests of our Chairman and Chief Executive Officer may give rise to a conflict of interest between the Company and the Company’s shareholders.

 

10

 

 

There is a substantial lack of liquidity of our common stock and volatility risks.

 

Our common stock is quoted on the OTC Markets platform under the symbol “QNTA.” The liquidity of our common stock may be very limited and affected by our limited trading market. The OTC Markets quotation platform is an inter-dealer market much less regulated than the major exchanges, and is subject to abuses, volatilities and shorting. There is currently no broadly followed and established trading market for our common stock. An established trading market may never develop or be maintained. Active trading markets generally result in lower price volatility and more efficient execution of buy and sell orders. Absence of an active trading market reduces the liquidity of the shares traded.

 

The trading volume of our common stock may be limited and sporadic. This situation is attributable to a number of factors, including the fact that we are a small company which is relatively unknown to stock analysts, stock brokers, institutional investors and others in the investment community that generate or influence sales volume, and that even if we came to the attention of such persons, they tend to be risk-averse and would be reluctant to follow an unproven company such as ours or purchase or recommend the purchase of our shares until such time as we became more seasoned and viable. As a consequence, there may be periods of several days or more when trading activity in our shares is minimal or non-existent, as compared to a seasoned issuer which has a large and steady volume of trading activity that will generally support continuous sales without an adverse effect on share price. We cannot give you any assurance that a broader or more active public trading market for our common stock will develop or be sustained, or that current trading levels will be sustained. As a result of such trading activity, the quoted price for our common stock on the OTC Markets may not necessarily be a reliable indicator of our fair market value. In addition, if our shares of common stock cease to be quoted, holders would find it more difficult to dispose of or to obtain accurate quotation as to the market value of, our common stock and as a result, the market value of our common stock likely would decline.

 

Our common stock may never be listed on a major stock exchange.

 

We currently do not satisfy the initial listing standards and cannot ensure that we will be able to satisfy such listing standards or that our common stock will be accepted for listing on any such exchange. Should we fail to satisfy the initial listing standards of such exchanges, or our common stock is otherwise rejected for listing, the trading price of our common stock could suffer, the trading market for our common stock may be less liquid, and our common stock price may be subject to increased volatility.

 

A decline in the price of our common stock could affect our ability to raise working capital and adversely impact our ability to continue operations.

 

A prolonged decline in the price of our common stock could result in a reduction in the liquidity of our common stock and a reduction in our ability to raise capital. A decline in the price of our common stock could be especially detrimental to our liquidity and our operations. Such reductions may force us to reallocate funds from other planned uses and may have a significant negative effect on our business plan and operations, including our ability to develop new services and continue our current operations. If our common stock price declines, we can offer no assurance that we will be able to raise additional capital or generate funds from operations sufficient to meet our obligations. If we are unable to raise sufficient capital in the future, we may not be able to have the resources to continue our normal operations.

 

Future sales and issuances of our common stock or rights to purchase common stock, including pursuant to our equity incentive plans or otherwise, could result in dilution of the percentage ownership of our stockholders and could cause our stock price to fall.

 

We expect that significant additional capital will be needed in the future to continue our planned operations. To raise capital, we may sell common stock, convertible securities or other equity securities in one or more transactions at prices and in a manner we determine from time to time. If we sell common stock, convertible securities or other equity securities in more than one transaction, investors in a prior transaction may be materially diluted by subsequent sales. Additionally, any such sales may result in material dilution to our existing stockholders, and new investors could gain rights, preferences and privileges senior to those of holders of our common stock. Further, any future sales of our common stock by us or resales of our common stock by our existing stockholders could cause the market price of our common stock to decline.

11

 

 

Sales of a substantial number of shares of our common stock in the public market, or the perception that such sales could occur, could cause our stock price to fall.

 

If our existing stockholders sell, or indicate an intention to sell, substantial amounts of our common stock in the public market after the contractual restrictions on resale of such common stock discussed in this report lapse, or after those shares become registered for resale pursuant to an effective registration statement, the trading price of our common stock could decline. As of April 3, 2020, a total of 55,322,712 shares of our common stock were outstanding. Of those shares, only 42,080,494 are currently without restriction, in the public market. Upon the effectiveness of any registration statement we could elect to file with respect to any outstanding shares of common stock, any sales of those shares or any perception in the market that such sales may occur could cause the trading price of our common stock to decline. As of the date of effectiveness of such registration statement, such shares registered for resale will be freely tradable without restriction.

 

We do not plan to declare or pay any dividends to our stockholders in the near future.

 

We have not declared any dividends in the past, and we do not intend to distribute dividends in the near future. The declaration, payment and amount of any future dividends will be made at the discretion of the board of directors and will depend upon, among other things, the results of operations, cash flows and financial condition, operating and capital requirements, and other factors as the board of directors considers relevant. There is no assurance that future dividends will be paid, and if dividends are paid, there is no assurance with respect to the amount of any such dividend.

 

The requirements of being a public company may strain our resources and distract management.

 

We are subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”). These requirements are extensive. The Exchange Act requires that we file annual, quarterly and current reports with respect to our business and financial condition. The Sarbanes-Oxley Act requires that we maintain effective disclosure controls and procedures and internal controls over financial reporting.

 

We may incur significant costs associated with our public company reporting requirements and costs associated with applicable corporate governance requirements. This may divert management’s attention from other business concerns, which could have a material adverse effect on our business, financial condition and results of operations. We also expect that these applicable rules and regulations may make it more difficult and more expensive for us to obtain director and officer liability insurance and we may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. As a result, it may be more difficult for us to attract and retain qualified individuals to serve on our board of directors or as executive officers.

 

Persons associated with securities offerings, including consultants, may be deemed to be broker dealers.

 

In the event that any of our securities are offered without engaging a registered broker-dealer, we may face claims for rescission and other remedies. If any claims or actions were to be brought against us relating to our lack of compliance with the broker-dealer requirements, we could be subject to penalties, required to pay fines, make damages payments or settlement payments, or repurchase such securities. In addition, any claims or actions could force us to expend significant financial resources to defend our company, could divert the attention of our management from our core business and could harm our reputation.

 

12

 

 

Future changes in financial accounting standards or practices may cause adverse unexpected financial reporting fluctuations and affect reported results of operations.

 

A change in accounting standards or practices can have a significant effect on our reported results and may even affect our reporting of transactions completed before the change is effective. New accounting pronouncements and varying interpretations of accounting pronouncements have occurred and may occur in the future. Changes to existing rules or the questioning of current practices may adversely affect our reported financial results or the way we conduct business.

 

“Penny Stock” rules may make buying or selling our common stock difficult.

 

Trading in our common stock is subject to the “penny stock” rules. The SEC has adopted regulations that generally define a penny stock to be any equity security that has a market price of less than $5.00 per share, subject to certain exceptions. These rules require that any broker-dealer that recommends our common stock to persons other than prior customers and accredited investors, must, prior to the sale, make a special written suitability determination for the purchaser and receive the purchaser’s written agreement to execute the transaction. Unless an exception is available, the regulations require the delivery, prior to any transaction involving a penny stock, of a disclosure schedule explaining the penny stock market and the risks associated with trading in the penny stock market. In addition, broker-dealers must disclose commissions payable to both the broker-dealer and the registered representative and current quotations for the securities they offer. The additional burdens imposed upon broker-dealers by such requirements may discourage broker-dealers from effecting transactions in our common stock, which could severely limit the market price and liquidity of our common stock.

 

FINRA sales practice requirements may limit a stockholder’s ability to buy and sell our stock.

 

The Financial Industry Regulatory Authority, or FINRA, has adopted rules requiring that, in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative or low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA has indicated its belief that there is a high probability that speculative or low-priced securities will not be suitable for at least some customers. These FINRA requirements may make it more difficult for broker-dealers to recommend that at least some of their customers buy our common stock, which may limit the ability of our stockholders to buy and sell our common stock and could have an adverse effect on the market for and price of our common stock.

 

If securities or industry analysts do not publish, or cease publishing, research or publish inaccurate or unfavorable research about our business or our market, or if they change their recommendations regarding our stock adversely, our stock price and any trading volume could decline.

 

Any trading market for our common stock that may develop will depend in part on the research and reports that securities or industry analysts publish about us or our business, markets or competitors. Securities and industry analysts do not currently, and may never, publish research on us or our business. If no securities or industry analysts commence coverage of our company, the trading price for our stock would be negatively affected. If securities or industry analysts initiate coverage, and one or more of those analysts downgrade our stock or publish inaccurate or unfavorable research about our business or our market, our stock price would likely decline. If one or more of these analysts cease coverage of our company or fail to publish reports on us regularly, demand for our stock could decrease, which might cause our stock price and any trading volume to decline.

 

We may have material liabilities that were not discovered before, and have not been discovered since, the closing of the Merger.

 

As a result of the Merger, the former business plan and management of the Company have been abandoned and replaced with the business and management team of Bioanomaly Inc. Prior to the Merger, there were no relationships or other connections among the businesses or individuals associated with those two entities. As a result, we may have material liabilities based on activities before the Merger that have not been discovered or asserted. We could experience losses as a result of any such undisclosed liabilities that are discovered in the future, which could materially harm our business and financial condition. Although the Merger Agreement contains customary representations and warranties from the Company concerning its assets, liabilities, financial condition and affairs, there may be limited or no recourse against our pre-Merger stockholders or principals in the event those representations prove to be untrue. As a result, our current and future stockholders will bear some, or all, of the risks relating to any such unknown or undisclosed liabilities.

 

13

 

 

We may be exposed to additional risks as a result of “going public” by means of a reverse acquisition transaction.

 

We may be exposed to additional risks because the business of Quanta has become a public company through a “reverse acquisition” transaction. There has been increased focus by government agencies on transactions such as the Merger in recent years, and we may be subject to increased scrutiny by the SEC and other government agencies and holders of our securities as a result of the completion of that transaction. Further, as a result of our existence as a “shell company” under applicable rules of the SEC prior to the closing of the Merger and the filing of appropriate disclosures with the SEC on December 21, 2018, we are subject to certain restrictions and limitations for certain specified periods of time relating to potential future issuances of our securities and compliance with applicable SEC rules and regulations. Additionally, our “going public” by means of a reverse acquisition transaction may make it more difficult for us to obtain coverage from securities analysts of major brokerage firms following the Merger because there may be little incentive to those brokerage firms to recommend the purchase of our common stock. Further, investment banks may be less likely to agree to underwrite secondary offerings on our behalf than they might if we became a public reporting company by means of an initial public offering, or IPO, because they may be less familiar with our company as a result of more limited coverage by analysts and the media, and because we became public at an early stage in our development. The failure to receive research coverage or support in the market for our shares will have an adverse effect on our ability to develop a liquid market for our common stock. The occurrence of any such event could cause our business or stock price to suffer.

 

We are not subject to compliance with rules requiring the adoption of certain corporate governance measures and as a result our stockholders have limited protections against interested director transactions, conflicts of interest and similar matters.

 

The Sarbanes-Oxley Act, as well as rule changes enacted by the SEC, the New York Stock Exchange and the NASDAQ Stock Market as a result of the Sarbanes-Oxley Act, require the implementation of various measures relating to corporate governance. These measures are designed to enhance the integrity of corporate management and the securities markets and apply to securities which are listed on those exchanges. Because we are not presently required to comply with many of the corporate governance provisions we have not yet adopted certain of these measures. Until we comply with such corporate governance measures, regardless of whether such compliance is required, the absence of such standards of corporate governance may leave our stockholders without protections against interested director transactions, conflicts of interest and similar matters.

 

We are an emerging growth company and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.

 

We are an emerging growth company under the JOBS Act. For as long as we continue to be an emerging growth company, we intend to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies including, but not limited to, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, exemptions from the requirements of holding a nonbinding advisory stockholder vote on executive compensation and any golden parachute payments not previously approved, exemption from the requirement of auditor attestation in the assessment of our internal control over financial reporting and exemption from any requirement that may be adopted by the Public Company Accounting Oversight Board. If we do, the information that we provide stockholders may be different than what is available with respect to other public companies. We cannot predict if investors will find our common stock less attractive because we will rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.

 

Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have irrevocably elected to take advantage of this extended transition period. Since we will not be required to comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies, our financial statements may not be comparable to the financial statements of companies that comply with the effective dates of those accounting standards.

 

We will remain an emerging growth company until the earliest of (1) the end of the fiscal year in which the market value of our common stock that is held by non-affiliates exceeds $700 million as of the end of the second fiscal quarter, (2) the end of the fiscal year in which we have total annual gross revenues of $1.07 billion or more during such fiscal year, (3) the date on which we issue more than $1 billion in non-convertible debt in a three-year period, (4) December 31, 2022, the end of the fiscal year following the fifth anniversary of the date of the first sale of our common stock pursuant to an effective registration statement filed under the Securities Act or (v) the date on which we qualify as a large accelerated filer. Decreased disclosures in our SEC filings due to our status as an “emerging growth company” may make it harder for investors to analyze our results of operations and financial prospects.

 

Item 1B. Unresolved Staff Comments

 

None.

 

Item 2. Properties

 

The Company does not own any physical location. Quanta currently leases its corporate headquarters and other offices in Burbank, California which lease expires in August, 2023. Because our current offices are insufficient in size for current and future operations, the Company plans to seek replacement office space around the Los Angeles area at the time of the expiration of the current lease.

 

Item 3. Legal Proceedings

 

From time to time, we are a party to, or otherwise involved in, legal proceedings arising in the normal and ordinary course of business. As of the date of this report, we are not aware of any other proceeding, threatened or pending, against us which, if determined adversely, would have a material effect on our business, results of operations, cash flows or financial position.

 

14

 

 

PART II

 

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

 

(a) Market Information

 

Our common stock first became quoted on the OTC Markets under the trading symbol “FSIZ” on January 17, 2018. On August 16,, 2018 the Company changed its stock symbol to “QNTA.” The following table lists the high and low bid information for our common stock as quoted on the OTC Markets for the fiscal year ended April 30, 2018 and transition period ended December 31, 2018. Quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.

 

Fiscal Year Ended December 31, 2017   High    Low 
Second Quarter  $N/A*   $N/A* 
Third Quarter  $N/A*   $N/A* 
Fourth Quarter  $N/A*   $N/A* 

 

Fiscal Year Ended December 31, 2018  High   Low 
First Quarter  $N/A*   $N/A* 
Second Quarter  $3.00   $0.75 
Third Quarter  $3.00   $1.05 
Fourth Quarter  $2.00   $1.70 

 

Fiscal Year Ended December 31, 2019  High   Low 
First Quarter  $5.00   $1.00 
Second Quarter  $2.35   $1.83 
Third Quarter  $19.00   $0.20 
Fourth Quarter  $0.58   $0.20 

 

* The first trade of common stock occurred in April 2018.

 

(b) Holders of Our Common Stock

 

As of the date of filing approximately we had 120 shareholders of record.

 

(c) Dividends

 

Since inception we have not paid any dividends on our common stock. We currently do not anticipate paying any cash dividends in the foreseeable future on our common stock. Although we intend to retain our earnings, if any, to finance the exploration and growth of our business, our Board of Directors will have the discretion to declare and pay dividends in the future. Payment of dividends in the future will depend upon our earnings, capital requirements, and other factors, which our Board of Directors may deem relevant.

 

(d) Securities authorized for issuance under equity compensation plans

 

To date we have not authorized the issuance of any shares of common stock under equity compensation plans.

 

Transfer Agent and Registrar

 

The Company’s transfer agency is Action Stock Transfer located at 2469 E. Fort Union Blvd., Suite 214, Salt Lake City, UT 84121. Telephone (801) 274-1088.

 

15

 

 

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

FORWARD-LOOKING STATEMENTS

 

This form 10-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose any statements contained in this Form 10-K that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate” or “continue” or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. These factors include by are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger competitors; technological advances and failure to successfully develop business relationships.

 

This discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results may differ materially from those anticipated in these forward-looking statements.

 

SUMMARY OF BUSINESS

 

Quanta Basics

 

Quanta, Inc. (“Quanta”) is a cutting-edge technology platform whose patented, proprietary technology harnesses advances in quantum biology to increase the potency of active ingredients. Currently, Quanta supports product formulations in pain management, anti-inflammation, skincare, agriculture, nutritional supplements, and plant-based consumables. Ultimately, Quanta’s mission is to deliver better, more effective ingredients to elevate product efficacy, reduce waste and facilitate healthier, more sustainable consumption.

 

The established resonance theory behind Quanta’s polarization process has many potential applications. From potentiating bio-ingredients to produce more-effective carbon-trapping plants to transformative anti-aging solutions Quanta’s technology has the opportunity to upend how commercial products are made and the benefits from them. Already we see multi-trillion-dollar global industries benefiting from Quanta’s technology.

 

Our proof of concept, Quanta’s market-leading CBD pain-relief rub (“Muscle Rub”), is only the first in a series of paradigm shift products to emerge from our labs. At the heart of its well-documented effectiveness is our proprietary “polarization” process, which uses electromagnetic force to markedly enhance bioactivity at the molecular level—a polarized active ingredient is more soluble and creates stronger bonds with the body’s receptors. This allows us to enhance ingredients so they work faster and more powerfully without the use of chemical by-products or cellular penetration. Quanta believes this natural solution has nearly limitless applications in the world of plant-based consumer products.

 

Quanta is involved in ambitious projects that we believe will reshape the next wave of climate science, sustainability, nutrition, and more. Having harnessed the technology of the future, Quanta is dedicated to bringing tomorrow’s health and wellness solutions to the billions in need today.

 

16

 

 

Proof of Concept

 

Creating, producing and selling consumer products was never our primary focus; Quanta’s Muscle Rub was simply a means to an end - proof of concept and a revenue driver in a small emerging market as our business model took shape. Fundamentally, Quanta can be a licensing concern designed to collaborate with large brands to improve product quality and the profit margins of existing and new products. But the market needed proof and we chose to start in the under-developed category of CBD because of its speed to market.

 

Understandably, we met the same initial hurdles every start-up encounters. In addition to simply explaining quantum mechanics, we had no track record of success from a business standpoint. The immediate goal was to prove our model was defensible. Hence, we chose CBD as a launch category. This market provided protection from industry titans that may have felt threatened by such a powerful technology while allowing us to drive profits during R&D.

 

Over the last two years, we have developed and sold products largely to the medical industry, along with some consumer retail. This effort was designed to drive revenue and to prove the concept of our model: that polarizing a single ingredient can produce a demonstrably superior product that consumers find safe and effective (establish consumer appetite).

 

Discovery Synopsys

 

Using our product development process and business-to-business and direct-to-consumer sales approaches as a benchmark for future business, we developed the Quanta business model. Our technology’s unique ability to strengthen ingredients renders them more potent without added chemicals or penetrating cells means Quanta is in a first-of-its-kind position in the market. As the world’s first company focused on Quantum Biology we sit in a strong, but unique position in the market.

 

Our ability to increase ingredient efficacy by up to 500% means we are in a rare position to truly disrupt many areas of material science.

 

Quanta’s technology renders products superior to any on the market today. A 30% re-purchase rate (on one SKU alone) illustrates consumer appetite for the product.

 

Upcoming products and ventures will be designed to achieve or surpass this level of consumer benefit and uptake.

 

17

 

 

Quanta Business Model in 3 P’s: Potentiation, Partners, and Profits

 

After two years we believe the best possible model for the long-term success of the company is collaborating with best-in-class partners through joint ventures for new verticals, products, and research. These joint ventures may involve a jointly owned special purpose entity or they may be entirely based on contractual obligations.

 

Our mission has never been to create the best novel products on the planet. Our mission has always been to revolutionize the way formulations are developed and how products perform. We seek to work with the best product makers in the world to positively impact as many industries as possible.

 

The unique ability to increase the ingredient and product performance opens the doors for major opportunities. Higher performing ingredients mean less is needed to make a strong impact (increased margins, increase overall efficacy). We proved this with our Muscle Rub, which uses approximately 1/3 the CBD of competing products with demonstrably improved results.

 

The level of potentiation delivered by Quanta allows our partners the unique ability to provide higher-performing products, lower material costs, more competitive pricing and increased profit margins. In short, our partners will be able to make better performing, more affordable products with a higher repeat purchase. This is true disruption and consumer utopia.

 

We aim to work with groups that specialize in manufacturing, marketing, selling and distributing existing product lines that utilize ingredients we can potentiate. Partners like this facilitate efficient market delivery of joint innovations.

 

We believe this strategy provides greater shareholder value, enhances revenue potential, defrays upfront expenses and affords us the ability to raise capital for new projects without massive dilution.

 

Ultimately, these ventures would result in licensing out our technology to other reputable brands and companies to create co-branded products whereas the term “Powered by Quanta” becomes as recognized as “Intel Inside.”

 

We believe this type of partnership will afford a company Quanta partners with:

 

  Development of emerging products with cutting edge ingredients.
     
  A product line with a true point of differentiation.
     
  New SKUs with an increased margin.
     
  Decreased cost of goods sold.

 

Simultaneously these partnerships will allow Quanta:

 

  Greater brand recognition.
     
  Increased revenue and in turn profitability.
     
  Quicker timeline to more licensing opportunities because of a track record of success.
     
  Brand to become synonymous with improving the performance of ingredients within products.

 

Manufacturing Partnerships -

 

Quanta is currently focused on partnering with large-scale manufacturers and distributors able to produce products that meet the requirements of applicable regulations IE: Good Manufacturing Practices to fulfill orders of our own product line. This type of partnership is crucial because it will afford:

 

  New product development that meets certification requirements
     
  Much larger production scale
     
  Speed to market
     
  Increased distribution and profitability

 

18

 

 

With our licensing capabilities, Quanta technology can render better, more efficacious products that cost less to create but command a higher purchase value because of polarized ingredients. This, in turn, allows companies to diversify their catalog of products while simultaneously providing them with a distinguished advantage. More efficacious ingredients.

 

Employees

 

As of the date of this report, Quanta has 21 full time and 2 part time employees. We believe we enjoy good employee relations. None of our employees are members of any labor union, and we are not a party to any collective bargaining agreement.

 

RESULTS OF OPERATIONS

 

Summary of Key Results

 

Results of Operations for year ended December 31, 2019 compared to the nine months ended December 31, 2018

 

Revenue

 

Net sales are comprised of wholesale sales to our retail partners and sales through our direct to consumer channel. Net sales in both channels reflect the impact of product returns as well as discounts for certain sales programs or promotions.

 

For the year ended December 31, 2019, the Company recognized $1,268,988 in net sales. For the nine-month transition period ended December 31, 2018, the Company recognized $225,254 in net sales. The increase in sales is due to an increase in our customers for a full year of operations in 2019 compared to four months of full operations in the transition period.

 

By Geographic Territory:  Year ended December 31, 2019   Transition period ended
December 31, 2018
 
California  $766,469   $156,974 
Other states   477,139    68,280 
International   25,380    - 
   $1,268,988   $225,254 
           
By Sales Channel:          
Direct to consumer  $443,916   $67,806 
Wholesale   793,284    157,448 
License Revenue   31,788    - 
   $1,268,988   $225,254 

 

Expenses

 

Operating expenses for the year ended December 31, 2019 were $6,453,091. The Company incurred $351,670 in research and development costs, and $4,799,030 in administrative and other costs associated with operations, including legal and professional fees of $651,764, and $1,302,391 of labor and related costs. These costs were not associated with our direct public offering efforts and therefor expensed as incurred.

 

Operating expenses for the nine-month transition period ended December 31, 2018 were $1,717,584. The Company incurred $207,600 in research and development costs, and $1,055,805 in administrative and other costs associated with operations, including legal and professional fees of $128,289, and $454,179 of labor and related costs. These costs were not associated with our direct public offering efforts and therefor expensed as incurred.

 

Other Income (Expense)

 

For the year ended December 31, 2019, the Company recognized $299,541 of net other expenses, including interest expense of $226,239, private placement costs of $238,395 and $145,565 of extinguishment of derivative liabilities.

 

For the nine-month transition period ended December 31, 2018, the Company recognized $41,000 as gain on extinguishment of debt and $21,000 as gain on forgiveness of accrued interest.

 

Net Loss

 

Net loss for the year ended December 31, 2019 was $5,787,364. Net loss for the nine-months transition period ended December 31, 2018 was $1,613,972. We recorded no provision for federal income taxes for either period. We recorded $800 in minimum franchise tax for the state of California for the year ended December 31, 2019 and nine-month transition period ended December 31, 2018, respectively, which are included in administrative expenses.

 

Basic and diluted loss per share - Basic and diluted loss per share for the year ended December 31, 2019 was $.14 per share. Basic and diluted number of shares outstanding was 40,528,456 for 2019. Basic and diluted loss per share for the transition period ended December 31, 2018 was $.05 per share. Basic and diluted number of shares outstanding was 35,100,108 for 2018.

 

19

 

 

Liquidity

 

We have yet to establish any history of profitable operations. For the year ended December 31, 2019, the Company incurred a net loss of $5,787,364 and used cash in operating activities of $2,221,320, and at December 31, 2019, the Company had a had a working capital deficiency of $113,909. These factors raise substantial doubt about our ability to continue as a going concern within one year after the date the financial statements are issued. As a result, our independent registered public accounting firm included an explanatory paragraph in its report on our financial statements as of and for the year ended December 31, 2019 with respect to this uncertainty. This going concern opinion could materially limit our ability to raise additional funds through the issuance of new debt or equity securities and future reports on our financial statements may also include an explanatory paragraph with respect to our ability to continue as a going concern.

 

At December 31, 2019, the Company had cash on hand in the amount of $433,143. Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and $30,000 for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing

 

20

 

 

Critical Accounting Policies and Estimates

 

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. GAAP requires us to make estimates and assumptions that affect the reported amounts in our financial statements including various allowances and reserves for accounts receivable and inventories, the estimated lives of long-lived assets and trademarks and trademark licenses, as well as claims and contingencies arising out of litigation or other transactions that occur in the normal course of business. The following summarizes our most significant accounting and reporting policies and practices:

 

Use of estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, impairment analysis of long-term assets, valuation allowance on deferred income taxes, assumptions used in valuing stock instruments issued for services, assumptions made in valuing derivative liabilities, and the accrual of potential liabilities. Actual results may differ from these estimates.

 

Revenue Recognition

 

The Company recognizes revenue when risk of loss transfers to our customers and collection of the receivable is reasonably assured, typically upon delivery of products. The Company historically has offered no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against revenue.

 

Effective April 1, 2018, the Company adopted the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. The implementation of ASC 606 did not have a material impact on the Company’s consolidated financial statements. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

 

Stock Compensation

 

The Company issues stock options, warrants, and shares of common stock as share-based compensation to employees and non-employees. The Company accounts for its share-based compensation to employees in accordance with FASB ASC 718, Compensation – Stock Compensation (Topic 718). Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite service period.

 

In periods through December 31, 2018, the Company accounted for share-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity - Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The final fair value of the share-based payment transaction is determined at the performance completion date. For interim periods, the fair value is estimated, and the percentage of completion is applied to that estimate to determine the cumulative expense recorded.

 

On January 1, 2019, the Company adopted ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 simplifies the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. The adoption of ASU 2018-07 did not have a material impact on the Company’s financial statements.

 

Derivative Financial Instruments

 

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments at inception and on subsequent valuation dates through the December 31, 2019, reporting date. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period.

 

Recently Issued Accounting Pronouncements

 

See Note 1 to the Consolidated Financial Statements

 

21

 

 

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

 

We are a smaller reporting company as defined in Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item

 

Item 8. Financial Statements and Supplementary Data.

 

The financial statements together with the report of our independent registered public accounting firm, required to be filed pursuant to this Item 8 are appended to this Annual Report on Form 10-K. An index of those consolidated financial statements is found in Item 15 of this Annual Report on Form 10-K.

 

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

 

On July 26, 2018, the Company’s Board of Directors dismissed PLS CPA as the Company’s independent registered public accounting firm. PLS CPA’s reports on the Company’s financial statements for the years ended April 30, 2017 and April 28, 2016 (date of inception) through April 30, 2016 contained no adverse opinion or disclaimer of opinion and was not qualified or modified as to the audit scope or accounting principles, except that reports for the fiscal year ended April 30, 2017 and for the period from April 28, 2016 (date of inception) through April 30, 2016 contained an explanatory paragraph stating that there was substantial doubt about the Company’s ability to continue as a going concern. During the years ended April 30, 2018 and 2017, and through July 26, 2018, there were no disagreements with PLS CPA on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PLS CPA, would have caused it to make reference thereto in connection with its reports on the financial statements for such years

 

On July 27, 2018, the Board engaged B F Borgers CPA PC (“B F Borgers”) as the Company’s new independent registered public accounting firm. During the period ended April 30, 2018 and 2017, and through July 27, 2018, we did not consult with B F Borgers regarding the application of accounting principles to a specific transaction or the type of audit opinion that might be rendered on the Company’s financial statements, and no written report or oral advice was provided that B F Borgers concluded was an important factor considered by the Company in reaching a decision as to any such accounting, auditing or financial reporting issue. During the years ended April 30, 2018 and 2017, and through July 26, 2018, there were no matters that were either the subject of a disagreement as defined in Item 304(a)(1)(iv) of Regulation S-K or a reportable event as described in Item 304(a)(1)(v) of Regulation S-K.

 

On February 11, 2019, the Company’s Board of Directors approved the dismissal of B F Borgers as the Company’s independent registered public accounting firm. The audit report of B F Borgers on the consolidated financial statements of the Company for the most recent fiscal year ended April 30, 2018 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles, except that the report contained an explanatory paragraph stating that there was substantial doubt about the Company’s ability to continue as a going concern. During the Company’s most recent fiscal year ended April 30, 2018 and the subsequent interim periods through February 11, 2019, (i) there were no disagreements with B F Borgers on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures that, if not resolved to B F Borgers’ satisfaction, would have caused B F Borgers to make reference to the subject matter of the disagreement in connection with its reports and (ii) there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.

 

On February 11, 2019, the Board engaged Weinberg & Company (“Weinberg”) as the Company’s independent registered public accounting firm. During the two most recent fiscal years ended April 30, 2018 and April 30, 2017, and the subsequent interim periods through February 11, 2019, neither the Company nor anyone on its behalf consulted Weinberg regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice was provided to the Company that Weinberg concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

 

22

 

 

Item 9A. Controls and Procedures.

 

Disclosure Controls and Procedures

 

We have established disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and that information relating to the Company is accumulated and communicated to management, including our principal officers, as appropriate to allow timely decisions regarding required disclosure. Our Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of our disclosure controls and procedures as of December 31, 2019, and have concluded that our disclosure controls and procedures were not effective as of December 31, 2019 due to material weaknesses in our internal control over financial reporting as described below.

 

Management’s Annual Report on Internal Control over Financial Reporting

 

Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15. Internal control over financial reporting is defined in Rule 13a-15(f) and 15(d)-15(f) under the Exchange Act as a process designed to provide reasonable assurance to the Company’s management and Board of Directors regarding the preparation and fair presentation of published financial statements. Management conducted an assessment of the Company’s internal control over financial reporting as of December 31, 2019 based on the framework and criteria established by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework (2013) (COSO). Based on the assessment, management concluded that, as of December 31, 2019, the Company’s internal controls over financial reporting were not effective.

 

We identified material weaknesses in our internal controls over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our financial statements will not be prevented or detected on a timely basis. The material weaknesses identified include (i) We do not have written documentation of our internal control policies and procedures, including written policies and procedures to ensure the correct application of accounting and financial reporting with respect to the current requirements of U.S. GAAP and SEC disclosure requirements; and (ii) The Company did not maintain effective policies to ensure adequate segregation of duties within its accounting processes. Specifically, due to the size of the Company and the smaller nature of department teams, opportunities are limited to segregate duties, resulting in inabilities to soundly manage segregation of job responsibilities.

 

Notwithstanding the identified material weaknesses, management has concluded that the Financial Statements included in this Annual Report on Form 10-K present fairly, in all material respects, the Company’s financial position, results of operations and cash flows for the periods disclosed in conformity with U.S. GAAP.

 

Planned Remediation of Material Weaknesses

 

Our management has been actively engaged in developing and implementing remediation plans to address material weaknesses described above. These remediation efforts are ongoing and include or are expected to include preparation of written documentation of our internal control policies and procedures, increasing personnel resources and technical accounting expertise within the accounting function, and to hire one or more additional personnel.

 

Changes in Internal Control over Financial Reporting

 

There were no changes in internal control over financial reporting (as defined by Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended December 31, 2019, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

Inherent Limitations on Effectiveness of Controls

 

Our management, including our Chief Executive Officer and Chief Financial Officer, intends that our disclosure controls and procedures and internal control over financial reporting are designed to provide reasonable assurance of achieving their objectives. However, our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of the controls. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected.

 

Item 9B. Other Information.

 

None.

 

23

 

 

PART III

 

Item 10. Directors, Executive Officers and Corporate Governance.

 

The following table sets forth the name and age of officers and director as of the date hereof. Our executive officers are elected annually by our board of directors. Our executive officers hold their offices until they resign, are removed by the Board, or his successor is elected and qualified.

 

Our management consists of:

 

Name   Age   Title
         
Eric Rice   43   Founder, Chairman, Chief Executive Officer and Chief Financial Officer
         
Jeffrey Doiron   47   President and Chief Operations Officer

 

Eric Rice, Founder, Chairman, Chief Executive Officer and Chief Financial Officer. Eric Rice, Quanta CEO and Chairman, is a leading American entrepreneur. He started his business career in Chicago in wealth management and high-net-worth financial advising before spending more than a decade building businesses at the nexus of multiple industries including artificial intelligence, machine learning, technology. Along the way, he worked with founders across multiple sectors to create profitable, enduring enterprises, demonstrating a keen eye for the nuances of markets and corresponding growth opportunities. In 2013, he cofounded 25 Ventures, a venture studio that developed multiple companies in various areas including wellness, ad tech, and cannabis. He is a sought-after partner for start-ups and established businesses around the globe. With its world-changing ambitions, Quanta represents the culmination of Eric’s years of insight and experience, merging his market acumen with his longstanding interest in the applied sciences. He lives in Burbank with his wife and two children, and still finds time to make it to the batting cages.

 

Jeffrey Doiron, President and Chief Operations Officer. Before taking over operations for Quanta, Mr. Doiron founded and grew one of the continent’s most innovative advanced digital agencies. He was the Managing Director and Cofounder of Fuel Industries Inc from 1999 through 2017. He uses his vast experience to connect new and exciting ideas with the right partners and brands. He guides the team to unlock their most creative selves and drive forward the momentum of the company. The Company concluded that Mr. Doiron’s past experiences and training render him qualified to serve in these capacities.

 

Board of Directors

 

Each director is elected by the Board and serves until his or her successor is elected and qualified, unless he or she resigns or is removed earlier. Each of our officers is elected by the Board to a term of one (1) year and serves until his or her successor is duly elected and qualified, or until he or she is earlier removed from office or resigns.

 

At the very least all directors will be reimbursed by the Company for expenses incurred in attending directors’ meetings provided that the Company has sufficient resources to pay these expenses. The Company will consider in applying for officers and directors liability insurance at such time that it has the financial resources to do so.

 

Committees of the Board of Directors

 

Concurrent with having sufficient members and resources, our Board of Directors intends to establish an audit committee and a compensation committee. The audit committee will review the results and scope of the audit and other services provided by the independent auditors and review and evaluate the system of internal controls. The compensation committee will review and recommend compensation arrangements for the officers and employees. No final determination has yet been made as to the memberships of these committees or when we will have sufficient members to establish committees. We believe that we will need a minimum of three independent directors to have effective committee systems.

 

As of the date hereof, we have not established any Board committees.

 

Family Relationships

 

No family relationship exists between any director, executive officer, or any person contemplated to become such.

 

Director Independence

 

We currently do not have any independent directors serving on our board of directors.

 

24

 

 

Possible Potential Conflicts

 

The OTCMarkets, on which we have our shares of common stock quoted, does not currently have any director independence requirements.

 

Certain conflicts of interest may arise between us and our officer(s) and director(s) in that they may have other business interests in the future to which they devote their attention, and they may be expected to continue to do so although management time must also be devoted to our business. As a result, conflicts of interest may arise that can be resolved only through their exercise of such judgment as is consistent with each officer’s understanding of his/her fiduciary duties to us.

 

Currently we have three officers and one director and will seek to add additional officer(s) and/or director(s) as and when the proper personnel are located and terms of employment are mutually negotiated and agreed, and we have sufficient capital resources and cash flow to make such offers.

 

We cannot provide assurances that our efforts to eliminate the potential impact of conflicts of interest will be effective.

 

Involvement in Certain Legal Proceedings

 

None of our directors or executive officers has, during the past ten years:

 

  has had any bankruptcy petition filed by or against any business of which he was a general partner or executive officer, either at the time of the bankruptcy or within two years prior to that time;
     
  been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offences);
     
  been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities, futures, commodities or banking activities;
     
  been found by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated; or
     
  been subject or a party to or any other disclosable event required by Item 401(f) of Regulation S-K.

 

Code of Business Conduct and Ethics

 

Upon incorporation we adopted a written code of ethics applicable to our board of directors, officers and employees in accordance with applicable Federal and states securities laws. Our board of directors shall oversee compliance with the code of ethics as it relates to the Company through an officer designated by the board. Employees are required to report known and suspected breaches of our code of ethics to an appropriate supervisor, or in the case of officers and directors, to a senior officer designated by our board of directors. Our code of ethics is designed to deter wrongdoing and to promote:

 

  honest and ethical conduct;
     
  full, fair, accurate, timely and understandable disclosure in reports and documents that we will file with securities regulators and in our other public communications;
     
  compliance with applicable laws, rules and regulations, including insider trading compliance; and
     
  accountability for adherence to the code and prompt internal reporting of violations of the code, including illegal or unethical behavior regarding accounting or auditing practices.

 

A copy of our Code of Business Conduct and Ethics has been filed with the Securities and Exchange Commission as Exhibit 14.1 to our Registration Statement filed on Form S-1 on June 1, 2017

 

25

 

 

Item 11. Executive Compensation.

 

The following table sets forth all of the compensation awarded to, earned by or paid to our named executive officers for the fiscal year ended December 31, 2019, the transition period ended December 31, 2018 and the fiscal year ended April 30, 2018:

 

Name and Principal Position  Period   Base
Salary
($)
   Option Awards
($)(2)
   All
Other
Compensation
($)
   Total
($)
 
Eric Rice   Fiscal Year ended December 31, 2019    103,044            103,044 
Founder, Chairman and Chief   Transition Period ended December 31, 2018    14,500            14,500 

Executive Officer

(Principal Executive Officer) (1)

   Fiscal Year ended April 30, 2018                 
                          
Jeffrey Doiron   Fiscal Year ended
December 31, 2019
    93,732    415,672        509,404 
President (1)   Transition Period ended
December 31, 2018
            59,027    59,027 
    Fiscal Year ended April 30, 2018                 
                          
Kirk Westwood   Fiscal Year ended
December 31, 2019
    71,803    566,826    30,293    668,922 
Vice President (2)   Transition Period ended
December 31, 2018
            87,710    87,710 
    Fiscal Year ended April 30, 2018                 

 

  (1) Mr. Doiron was granted an option to purchase 1,100,000 shares of our common stock, which vested as to one-half of the shares on the grant date, December 9, 2019, and the remainder of the shares vest ratably in monthly installments over 24 months commencing after the grant date.
  (2) Mr. Westwood was granted an option to purchase 1,500,000 shares of our common stock, which vested as to two-thirds of the shares on the grant date, December 9, 2019, and the remainder of the shares vest ratably in monthly installments over one year commencing on the first anniversary of the grant date.

 

The Company and its board may grant awards as it sees fit to its employees as well as key consultants and other outside professionals.

 

Director Compensation

 

We have no arrangement to compensate directors for their services in their capacity as directors. Directors are not paid for meetings attended. However, we intend to review and consider future proposals regarding board compensation. All travel and lodging expenses associated with corporate matters are reimbursed by us, if and when incurred.

 

Pension Table

 

None.

 

Retirement Plans

 

We do not offer any annuity, pension, or retirement benefits to be paid to any of our officers, directors, or employees in the event of retirement. There are also no compensatory plans or arrangements with respect to any individual named above which results or will result from the resignation, retirement, or any other termination of employment with our company, or from a change in the control of our Company.

 

26

 

 

Compensation Committee

 

We do not have a separate compensation committee. Instead, our Board reviews and approves executive compensation policies and practices, reviews salaries and bonuses for other officers, administers our stock option plans and other benefit plans, if any, and considers other matters that may be brought forth to it.

 

Risk Management Considerations

 

We believe our compensation policies and practices for our employees, including our executive officers, do not create risks that are reasonably likely to have a material adverse effect on our Company.

 

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 

The following table sets forth information known to the Company regarding beneficial ownership of the Company’s common stock as of March 17, 2020 by:

 

  each person known by the Company to be the beneficial owner of more than 5% of outstanding Company common stock;
     
  each of the Company’s executive officers and directors; and
     
  all executive officers and directors of the Company as a group.

 

Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days. Common stock issuable upon exercise of options or warrants currently exercisable or exercisable within 60 days are deemed outstanding solely for purposes of calculating the percentage of class and percentage of total voting power of the beneficial owner thereof.

 

The beneficial ownership of the Company’s common stock is based on 55,322,712 shares of Company common stock issued and outstanding as of April 3, 2020.

 

Unless otherwise indicated, New CPH believes that each person named in the table below has sole voting and investment power with respect to all shares of New CPH common stock beneficially owned by him or her.

 

Name And Address (1)   Beneficially Owned     Percentage Owned (2)  
Eric Rice, Chairman, Chief Executive Officer     17,951,432       32.4 %
Jeffrey Doiron, President     -       - %
All directors and officers as a group (2 persons)     17,951,432       32.4 %
                 
Other 5% Holders                
Brothers Pascarella LLC     4,000,000       7.2 % 

 

 

(1) The address for all officers, directors and beneficial owners is 3606 W Magnolia Blvd, Burbank, Ca 91505.

 

Long-Term Incentive Plans and Awards

 

We do not have any long-term incentive plans that provide compensation intended to serve as incentive for performance. No individual grants or agreements regarding future payouts under non-stock price-based plans have been made to any executive officer or any director or any employee or consultant since our inception; accordingly, no future payouts under non-stock price-based plans or agreement s have been granted or entered into or exercised by our officer or director or employees or consultants since we were founded.

 

27

 

 

Grants of Plan-Based Awards Table

 

None of our named executive officers received any grants of stock, option awards or other plan-based awards during the years ended December 31, 2019 and December 31, 2018. The Company has no activity with respect to these awards.

 

Options Exercised and Stock Vested Table

 

On June 27, 2019, our board of directors adopted the Quanta, Inc. 2019 Omnibus Stock Incentive Plan (the “2019 Plan”). The following is a summary of the principal features of the 2019 Plan:

 

Provision of Plan   Description
Eligible Participants:   Employees, directors, and consultants of the Company, any related entity, and any successor entity that adopts the 2019 Plan.

 

Share Reserve:   Total of 12,000,000 shares of the Company’s Common Stock.
    The reserved shares will be reduced (i) by one share for each share granted pursuant to stock options, stock appreciation rights, or other awards awarded under the 2019 Plan, and (ii) to the extent cash is delivered in lieu of shares of Common Stock upon the exercise of a stock appreciation right, the Company will be deemed to have issued the greater of the number of shares of Common Stock which it was entitled to issue upon such exercise or on the exercise of any related stock option.

 

Award Types:   Incentive stock options
    Nonstatutory stock options
    Stock appreciation rights
    Restricted stock awards
    Restricted stock unit awards
    Dividend equivalent rights

 

Vesting:   Determined by the board of directors.
     
Award Limits:   No more than 1,200,000 shares may be issued to a single participant pursuant to stock options and stock appreciation rights in a calendar year.
     
Repricings:   Repricing of outstanding stock awards is not permitted without the approval of the Company’s stockholders, except for certain ratable capitalization adjustments as set forth in the 2019 Plan.
     
Plan Termination Date:   June 27, 2029.

 

28

 

 

Outstanding Equity Awards at Fiscal Year-End

 

None of our named executive officers had any outstanding stock or option awards as of the fiscal year ended December 31, 2019 and transition period ended December 31, 2018. The Company has not issued any awards to its named executive officers. The Company and its board may grant awards as it sees fit to its employees as well as key consultants and other outside professionals.

 

Securities Authorized for Issuance under Equity Compensation Plans

 

None.

 

Description of our Capital Stock

 

We were incorporated under the laws of the State of Nevada on April 28, 2016. The Company is authorized to issue 100,000,000 shares of common stock, par value $0.001 per share (the “Common Stock”) and 25,000,000 shares of preferred stock, par value $0.001 per share (the “Preferred Stock”).

 

Preferred Stock

 

Our articles of incorporation authorizes the issuance of 25,000,000 shares of Preferred Stock with designations, rights and preferences determined from time to time by our board of directors. No shares of Preferred Stock have been designated, issued or were outstanding as of the date of this report. Accordingly, our board of directors is empowered, without stockholder approval, to issue up to 25,000,000 shares of Preferred Stock with voting, liquidation, conversion, or other rights that could adversely affect the rights of the holders of the common stock. Although we have no present intention to issue any shares of Preferred Stock, there can be no assurance that we will not do so in the future.

 

Among other rights, our board of directors may determine, without further vote or action by our stockholders:

 

  the number of shares and the designation of the series;
  whether to pay dividends on the series and, if so, the dividend rate, whether dividends will be cumulative and, if so, from which date or dates, and the relative rights of priority of payment of dividends on shares of the series;
  whether the series will have voting rights in addition to the voting rights provided by law and, if so, the terms of the voting rights;
  whether the series will be convertible into or exchangeable for shares of any other class or series of stock and, if so, the terms and conditions of conversion or exchange;
  whether or not the shares of the series will be redeemable and, if so, the dates, terms and conditions of redemption and whether there will be a sinking fund for the redemption of that series and, if so, the terms and amount of the sinking fund; and
  the rights of the shares of the series in the event of our voluntary or involuntary liquidation, dissolution or winding up and the relative rights or priority, if any, of payment of shares of the series.

 

29

 

 

We presently do not have plans to issue any shares of Preferred Stock. However, our Preferred Stock could be used to dilute a potential hostile acquirer. Accordingly, any future issuance of Preferred Stock or any rights to purchase preferred shares may have the effect of making it more difficult for a third party to acquire control of us. This may delay, defer or prevent a change of control in our Company or an unsolicited acquisition proposal. The issuance of Preferred Stock also could decrease the amount of earnings attributable to, and assets available for distribution to, the holders of our Common Stock and could adversely affect the rights and powers, including voting rights, of the holders of our Common Stock.

 

Common Stock

 

Our articles of incorporation authorizes the issuance of 100,000,000 shares of Common Stock. There are 39,200,090 shares of our Common Stock issued and outstanding at April 16, 2019. The holders of our Common Stock:

 

  have equal ratable rights to dividends from funds legally available for payment of dividends when, as and if declared by the board of directors;
  are entitled to share ratably in all of the assets available for distribution to holders of Common Stock upon liquidation, dissolution or winding up of our affairs;
  do not have preemptive, subscription or conversion rights, or redemption or access to any sinking fund; and
  are entitled to one non-cumulative vote per share on all matters submitted to stockholders for a vote at any meeting of stockholders

 

See Plan of Distribution regarding negative implications of being classified as a “Penny Stock.”

 

Authorized but Unissued Capital Stock

 

Nevada law does not require stockholder approval for the issuance of authorized shares. These additional shares may be used for a variety of corporate purposes, including future public offerings to raise additional capital or to facilitate corporate acquisitions.

 

One of the effects of the existence of unissued and unreserved Common Stock (or Preferred Stock) may be to enable our board of directors to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of our board by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly deprive the stockholders of opportunities to sell their shares of our Common Stock at prices higher than prevailing market prices.

 

Shareholder Matters

 

As an issuer of “penny stock” the protection provided by the federal securities laws relating to forward looking statements does not apply to us if our shares are considered to be penny stocks (which they currently are and probably will be for the foreseeable future). Although the federal securities law provide a safe harbor for forward-looking statements made by a public company that files reports under the federal securities laws, this safe harbor is not available to issuers of penny stocks. As a result, we will not have the benefit of this safe harbor protection in the event of any claim that the material provided by us, including this Annual Report, contained a material misstatement of fact or was misleading in any material respect because of our failure to include any statements necessary to make the statements not misleading.

 

As a Nevada corporation, we are subject to the Nevada Revised Statutes (“NRS” or “Nevada law”). Certain provisions of Nevada law described below create rights that might be deemed material to our shareholders. Other provisions might delay or make more difficult acquisitions of our stock or changes in our control or might also have the effect of preventing changes in our management or might make it more difficult to accomplish transactions that some of our shareholders may believe to be in their best interests.

 

30

 

 

Directors’ Duties. Section 78.138 of the Nevada law allows our directors and officers, in exercising their powers to further our interests, to consider the interests of our employees, suppliers, creditors and shippers. They can also consider the economy of the state and the nation, the interests of the community and of society and our long-term and short-term interests and shareholders, including the possibility that these interests may be best served by our continued independence. Our directors may resist a change or potential change in control if they, by a majority vote of a quorum, determine that the change or potential change is opposed to or not in our best interest. Our board of directors may consider these interests or have reasonable grounds to believe that, within a reasonable time, any debt which might be created as a result of the change in control would cause our assets to be less than our liabilities, render us insolvent, or cause us to file for bankruptcy protection

 

Dissenters’ Rights. Among the rights granted under Nevada law which might be considered material is the right for shareholders to dissent from certain corporate actions and obtain payment for their shares (see NRS 92A.380-390). This right is subject to exceptions, summarized below, and arises in the event of mergers or plans of exchange. This right normally applies if shareholder approval of the corporate action is required either by Nevada law or by the terms of the articles of incorporation.

 

A shareholder does not have the right to dissent with respect to any plan of merger or exchange, if the shares held by the shareholder are part of a class of shares which are:

 

  listed on a national securities exchange,
  included in the national market system by the Financial Industry Regulatory Authority (“FINRA”), or \
  held of record by not less than 2,000 holders.

 

This exception notwithstanding, a shareholder will still have a right of dissent if it is provided for in the articles of incorporation or if the shareholders are required under the plan of merger or exchange to accept anything but cash or owner’s interests, or a combination of the two, in the surviving or acquiring entity, or in any other entity falling in any of the three categories described above in this paragraph.

 

Inspection Rights. Nevada law also specifies that shareholders are to have the right to inspect company records (see NRS 78.105). This right extends to any person who has been a shareholder of record for at least six months immediately preceding his demand. It also extends to any person holding, or authorized in writing by the holders of, at least 5% of outstanding shares. Shareholders having this right are to be granted inspection rights upon five days’ written notice. The records covered by this right include official copies of:

 

  i. the articles of incorporation, and all amendments thereto,
  ii. bylaws and all amendments thereto; and
  iii. a stock ledger or a duplicate stock ledger, revised annually, containing the names, alphabetically arranged, of all persons who are stockholders of the corporation, showing their places of residence, if known, and the number of shares held by them, respectively.

 

In lieu of the stock ledger or duplicate stock ledger, Nevada law provides that the corporation may keep a statement setting out the name of the custodian of the stock ledger or duplicate stock ledger, and the present and complete post office address, including street and number, if any, where the stock ledger or duplicate stock ledger specified in this section is kept.

 

Control Share Acquisitions. Sections 78.378 to 78.3793 of Nevada law contain provisions that may prevent any person acquiring a controlling interest in a Nevada-registered company from exercising voting rights. To the extent that these rights support the voting power of minority shareholders, these rights may also be deemed material. These provisions will be applicable to us as soon as we have 200 shareholders of record with at least 100 of these having addresses in Nevada as reflected on our stock ledger. While we do not yet have the required number of shareholders in Nevada or elsewhere, it is possible that at some future point we will reach these numbers and, accordingly, these provisions will become applicable. We do not intend to notify shareholders when we have reached the number of shareholders specified under these provisions of Nevada law. Shareholders can learn this information pursuant to the inspection rights described above and can see the approximate number of our shareholders by checking under Item 5 of our Annual Report on Form 10-K. This form is filed with the Securities and Exchange Commission within 90 days after the close of each fiscal year hereafter. You can view these and our other filings at www.sec.gov in the “EDGAR” database.

 

31

 

 

Under NRS Sections 78.378 to 78.3793, an acquiring person who acquires a controlling interest in company shares may not exercise voting rights on any of these shares unless these voting rights are granted by a majority vote of our disinterested shareholders at a special shareholders’ meeting held upon the request and at the expense of the acquiring person. If the acquiring person’s shares are accorded full voting rights and the acquiring person acquires control shares with a majority or more of all the voting power, any shareholder, other than the acquiring person, who does not vote for authorizing voting rights for the control shares, is entitled to demand payment for the fair value of their shares, and we must comply with the demand. An “acquiring person” means any person who, individually or acting with others, acquires or offers to acquire, directly or indirectly, a controlling interest in our shares. “Controlling interest” means the ownership of our outstanding voting shares sufficient to enable the acquiring person, individually or acting with others, directly or indirectly, to exercise one-fifth or more but less than one-third, one-third or more but less than a majority, or a majority or more of the voting power of our shares in the election of our directors. Voting rights must be given by a majority of our disinterested shareholders as each threshold is reached or exceeded. “Control shares” means the company’s outstanding voting shares that an acquiring person acquires or offers to acquire in an acquisition or within 90 days immediately preceding the date when the acquiring person becomes an acquiring person.

 

These Nevada statutes do not apply if a company’s articles of incorporation or bylaws in effect on the tenth day following the acquisition of a controlling interest by an acquiring person provide that these provisions do not apply.

 

According to NRS 78.378, the provisions referred to above will not restrict our directors from taking action to protect the interests of our Company and its shareholders, including without limitation, adopting or executing plans, arrangements or instruments that deny rights, privileges, power or authority to a holder of a specified number of shares or percentage of share ownership or voting power. Likewise, these provisions do not prevent directors or shareholders from including stricter requirements in our articles of incorporation or bylaws relating to the acquisition of a controlling interest in the Company.

 

Our articles of incorporation and bylaws do not exclude us from the restrictions imposed by NRS 78.378 to 78.3793, nor do they impose any more stringent requirements.

 

Certain Business Combinations. Sections 78.411 to 78.444 of the Nevada law may restrict our ability to engage in a wide variety of transactions with an “interested shareholder.” As was discussed above in connection with NRS 78.378 to 78.3793, these provisions could be considered material to our shareholders, particularly to minority shareholders. They might also have the effect of delaying or making more difficult acquisitions of our stock or changes in our control. These sections of NRS are applicable to any Nevada company with 200 or more stockholders of record and that has a class of securities registered under Section 12 of the 1934 Securities Exchange Act, unless the company’s articles of incorporation provide otherwise. By the filing of our Registration Statement on Form S-1, we are not registering our Common Stock under Section 12(g) of the Exchange Act. However upon effectiveness of the Registration Statement on Form S-1 we became subject to those very statutes.

 

These provisions of Nevada law prohibit us from engaging in any “combination” with an interested stockholder for three years after the interested stockholder acquired the shares that cause him/her to become an interested shareholder, unless he had prior approval of our board of directors. The term “combination” is described in NRS 78.416 and includes, among other things, mergers, sales or purchases of assets, and issuances or reclassifications of securities. If the combination did not have prior approval, the interested shareholder may proceed after the three-year period only if the shareholder receives approval from a majority of our disinterested shares or the offer meets the requirements for fairness that are specified in NRS 78.441-42. For the above provisions, a “resident domestic corporation” means a Nevada corporation that has 200 or more shareholders. An “interested stockholder” is defined in NSR 78.423 as someone who is either:

 

  the beneficial owner, directly or indirectly, of 10% or more of the voting power of our outstanding voting shares; or
  our affiliate or associate and who within three years immediately before the date in question, was the beneficial owner, directly or indirectly, of 10% or more of the voting power of our outstanding shares at that time.

 

32

 

 

Amendments to Bylaws. Our articles of incorporation provide that the power to adopt, alter, amend, or repeal our bylaws is vested exclusively with the board of directors. In exercising this discretion, our board of directors could conceivably alter our bylaws in ways that would affect the rights of our shareholders and the ability of any shareholder or group to effect a change in our control; however, the board would not have the right to do so in a way that would violate law or the applicable terms of our articles of incorporation.

 

Transfer Agent

 

The transfer agent for our Common Stock is Action Stock Transfer Corporation, 2469 E. Fort Union Blvd, Suite 214, Salt Lake City, Utah 84121. Its telephone number is (801) 274-1088.

 

Item 13. Certain Relationships and Related Transactions, and Director Independence.

 

We have not entered into any transactions with our officers, directors, persons nominated for these positions, beneficial owners of 5% or more of our common stock, or family members of those persons wherein the amount involved in the transaction or a series of similar transactions exceeded the lesser of $120,000 or 1% of the average of our total assets for the last two fiscal years or the transition period ended December 31, 2018.

 

Related Person Transaction Policy

 

Our Board of Directors is responsible to approve all related party transactions. We have not adopted written policies and procedures specifically for related person transactions.

 

Director Independence

 

For purposes of determining director independence, we have applied the definitions set out in NASDAQ Rule 5605(a)(2). The NASDAQ definition of “Independent Director” means a person other than an Executive Officer or employee of the Company or any other individual having a relationship which, in the opinion of the Company’s Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

 

According to the NASDAQ definition, Mr. Eric Rice is not an independent director because he currently holds the title of officer in the Company.

 

Item 14. Principal Accounting Fees and Services.

 

The following tables present the fees billed for the year ended December 31, 2019 and transition period ended December 31, 2018 by Weinberg & Company.

 

The caption “Audit Fees” refers to the aggregate fees billed for the audit of the Company’s financial statements and review of financial statements included in the Company’s Form 10-Q and other SEC filings or services that were normally provided by the accountants in connection with statutory and regulatory filings or engagements for such periods. The caption “Audit-Related Fees” refers to the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit or review of the Company’s financial statements and are not reported under “Audit Fees”. The caption “Tax Fees” refers to the aggregate fees billed for professional services rendered for tax compliance, tax advice, and tax planning. The caption “All Other Fees” refers to the aggregate fees billed for products and services other than the services previously described.

 

All services reflected in the following fee tables were pre-approved, respectively, in accordance with the policy of the Board.

 

33

 

 

Weinberg & Company

 

   Year Ended December 31, 2019   Nine Month
Transition Period Ended
December 31, 2018
 
Audit fees  $40,000   $30,000 
Audit-related fees          
Tax fees          
All other fees          
Total Fees  $40,000   $30,000 

 

Policy on Pre-Approval by the Board of Services Performed by Independent Auditors.

 

In its capacity, the Board pre-approves all audit (including audit-related) and permitted non-audit services to be performed by the independent auditors. The Board will annually approve the scope and fee estimates for the year-end audit to be performed by the Company’s independent auditors for the fiscal year. With respect to other permitted services, the Board pre-approves specific engagements, projects and categories of services on a fiscal year basis, subject to individual project and annual maximums. To date, the Company has not engaged its auditors to perform any non-audit related services.

 

Where You Can Find Additional Information

 

We have filed with the SEC this Annual Report on Form 10-K including exhibits. You may read and copy all or any portion of any reports, statements or other information in the files at Commission’s Public Reference Room located at 100 F Street, NE., Washington, DC 20549, on official business days during the hours of 10 a.m. to 3 p.m.

 

You can request copies of these documents upon payment of a duplicating fee by writing to the SEC. You may call the SEC at 1-800-SEC-0330 for further information on the operation of its public reference room. The Company’s filings, including this Annual Report on Form 10-K, will also be available to you on the website maintained by the SEC at http://www.sec.gov.

 

The Company’s website is located at http://www.BuyQuanta.com. The Company’s website and the information to be contained on that site, or connected to that site, are not part of or incorporated by reference into this filing.

 

34

 

 

PART IV

 

Item 15. Exhibits, Financial Statement Schedules.

 

The following exhibits are incorporated into this Form 10-K Annual Report:

 

Exhibit Number   Description
     
2.1   Agreement and Plan of Merger and Reorganization among Freight Solution, Inc., Bioanomaly, Inc. and Quanta Acquisition Corp. (Incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K/A filed with the Securities and Exchange Commission on June 18, 2018)
     
3.1   Articles of Incorporation of Quanta, Inc. (Incorporated by reference to Exhibit 3.1 to the S-1 Registration Statement filed with the Securities and Exchange Commission on March 27, 2017)
     
3.2   Bylaws of Quanta, Inc. (Incorporated by reference to Exhibit 3.2 to the S-1 Registration Statement filed with the Securities and Exchange Commission on March 27, 2017)
     
3.3   Amended and Restated Articles of Incorporation (Incorporated by reference to Exhibit 4.1 to the Current Report filed with the Securities and Exchange Commission on February 5, 2019)
     
4.1 *   Description of Securities
     
10.1   Conflict of Interest Agreement (Incorporated by reference to Exhibit 10.1 to the S-1 Registration Statement filed with the Securities and Exchange Commission on March 27, 2017)
     
10.2   Form of Subscription Agreement dated June 2018 (Incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on June 15, 2018)
     
10.3   Form of Warrant dated June 2018 (Incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on June 15, 2018)
     
10.4   Joint Venture Agreement by and between Quanta, Inc. and 2664431 Ontario Inc. dated as of September 5, 2018 (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on September 25, 2018)
     
10.5   Exclusive License and Joint Venture Agreement dated March 23, 2017 (Incorporated by reference to Exhibit 10.6 to the Transition Report on Form 10-KT filed with the Securities and Exchange Commission on April 16, 2019)
     
10.6   Quanta, Inc. 2019 Omnibus Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of Registrant’s Current Report on Form 8-K filed with the Commission on June 27, 2019)
     
10.7   Form of Employment Agreement, dated as of September 4, 2019, by and between Quanta, Inc. and Eric Rice (incorporated by reference to Exhibit 10.1 of Registrant’s Current Report on Form 8-K filed with the Commission on September 5, 2019)
     
10.8   Form, of Employment Agreement, dated as of September 4, 2019, by and between Quanta, Inc. and Jeffrey Doiron (incorporated by reference to Exhibit 10.2 of Registrant’s Current Report on Form 8-K filed with the Commission on September 5, 2019)
     
10.9   Form of Employment Agreement, dated as of September 4, 2019, by and between Quanta, Inc. and Blake Gillette (incorporated by reference to Exhibit 10.3 of Registrant’s Current Report on Form 8-K filed with the Commission on September 5, 2019)
     
10.10   Form of Employment Agreement, dated as of September 4, 2019, by and between Quanta, Inc. and Kirk Westwood (incorporated by reference to Exhibit 10.4 of Registrant’s Current Report on Form 8-K filed with the Commission on September 5, 2019)
     
10.10   Form of Securities Purchase Agreement, dated as of November 25, 2019, by and between Quanta, Inc. and the Purchasers Signatory Thereto (incorporated by reference to Exhibit 10.1 of Registrant’s Current Report on Form 8-K filed with the Commission on November 26, 2019)
     
10.11   Form of Registration Rights Agreement, dated as of November 25, 2019, by and between Quanta, Inc. and the Purchasers Signatory Thereto (incorporated by reference to Exhibit 10.2 of Registrant’s Current Report on Form 8-K filed with the Commission on November 26, 2019)
     
10.12   Ten Percent (10%) Convertible Note, dated as of November 25, 2019, issued by Quanta, Inc. in favor of Livingston Asset Management LLC (incorporated by reference to Exhibit 10.3 of Registrant’s Current Report on Form 8-K filed with the Commission on November 26, 2019)
     
14.1   Quanta, Inc. Code of Business Ethics and Conduct (Incorporated by reference to Exhibit 14.1 to the S-1 Registration Statement filed with the Securities and Exchange Commission on March 27, 2017)
     
21.1*   Subsidiaries of the Company
     
31.1 *   Certification of Chief Executive and Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
     
32.1 *   Certification of Chief Executive and Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
     
101.INS *   XBRL Instance Document.
     
101.SCH *   XBRL Taxonomy Extension Schema Document.
     
101.CAL *  

XBRL Taxonomy Extension Calculation Linkbase

Document.

     
101.DEF *  

XBRL Taxonomy Extension Definition Linkbase

Document.

     
101.LAB *   XBRL Taxonomy Extension Label Linkbase Document.
     
101.PRE *  

XBRL Taxonomy Extension Presentation Linkbase

Document.

     
104   Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

 

* Filed along with this document

 

35

 

 

The following are included as part of this Form 10-K:

 

  Page
   
Report of Independent Registered Public Accounting Firm F-2
   
Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018 F-3
   
Consolidated Statements of Operations for the year ended December 31, 2019 and for the Nine Months Ended December 31, 2018 F-4
   

Consolidated Statements of Changes in Stockholders’ Equity for the Year ended December 31, 2019 and for the Nine Months Ended December 31, 2018

F-5
   
Consolidated Statements of Cash Flows for the Year Ended December 31, 2019 and Nine Months Ended December 31, 2018 F-6
   
Notes to Consolidated Financial Statements F-7

 

Item 16. Form 10-K Summary.

 

None.

 

36

 

 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Quanta, Inc.
     
Dated: April 3, 2020 By: /s/ Eric Rice
    Eric Rice,
    Chief Executive Officer and Chief Financial Officer (Principal Executive and Principal Accounting Officer)

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated.

 

Signature   Title   Date
         
/s/ Eric Rice  

Chairman,

Chief Executive Officer and Chief Financial Officer

  April 3 , 2020
Eric Rice   (Principal Executive and Principal Accounting Officer)    

 

37

 

 

QUANTA, INC.

 

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

 

  Page
   
Report of Independent Registered Public Accounting Firm F-2
   
Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018 F-3
   
Consolidated Statements of Operations for the year ended December 31, 2019 and for the Nine Months Ended December 31, 2018 F-4
   
Consolidated Statements of Changes in Stockholders’ Equity for the Year ended December 31, 2019 and for the Nine Months Ended December 31, 2018 F-5
   
Consolidated Statements of Cash Flows for the Year Ended December 31, 2019 and Nine Months Ended December 31, 2018 F-6
   
Notes to Consolidated Financial Statements F-7

 

F-1

 

 

Report of Independent Registered Public Accounting Firm

 

The Stockholders and Board of Directors of Quanta, Inc.

 

Opinion on the Financial Statements

 

We have audited the accompanying consolidated balance sheets of Quanta, Inc. and Subsidiary (the “Company”) as of December 31, 2019 and 2018, the related consolidated statements of operations, changes in stockholders’ equity (deficit), and cash flows for the year ended December 31, 2019 and the nine-month transition period ended December 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for the year ended December 31, 2019, and for the nine-month transition period ended December 31, 2018, in conformity with accounting principles generally accepted in the United States of America.

 

Going Concern

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, during the year ended December 31, 2019, the Company incurred a net loss and utilized cash in operations, and at December 31, 2019, had a working capital deficiency. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

Basis for Opinion

 

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

We have served as the Company’s auditor since 2019.

 

/s/ Weinberg & Company, P.A.  
Los Angeles, California  
April 1, 2020  

 

F-2

 

 

QUANTA, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

 

   December 31, 2019   December 31, 2018 
ASSETS          
Current assets:          
Cash  $433,143   $35,820 
Accounts receivable   28,260    19,561 
Inventories   122,519    - 
Prepaid expenses   7,500    - 
Total current assets   591,422    55,381 
           
Equipment, net   313,478    372,880 
Operating lease right-of-use asset   332,980    - 
Security deposits   33,652    16,770 
           
Total assets  $1,271,532   $445,031 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)          
Current liabilities:          
Accounts payable and accrued expenses  $73,598   $9,617 
Notes payable ($55,850 in default at December 31, 2019)   55,850    180,000 
Deferred revenue, license agreement   32,742    - 
Operating lease liabilities   85,662    - 
Convertible note payable (net of discount of $224,660)   57,340    - 
Derivative liabilities   400,139    - 
Total current liabilities   705,331    189,617 
           
Long term liabilities          
Deferred revenue, licenses agreement, long-term   35,470    - 
Operating lease liabilities, long-term   251,791    - 
Total liabilities   992,592      
           
Stockholders’ equity:          
Preferred stock, $0.001 par value; 25,000,000 shares authorized; none issued or outstanding   -    - 
Common stock, $0.001 par value; 100,000,000 shares authorized; 49,087,255 and 39,200,090 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively   49,087    39,200 
Shares to be issued (7,318,519 and 612,000 shares to be issued as of December 31, 2019 and December 31, 2018, respectively)   2,847,868    306,000 
Additional paid-in capital   5,619,733    2,360,598 
Accumulated deficit   (8,237,748)   (2,450,384)
Total stockholders’ equity   278,940    255,414 
           
Total liabilities and stockholders’ equity  $1,271,532   $445,031 

 

See notes to consolidated financial statements

 

F-3

 

 

QUANTA, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS

 

   Year ended
December 31, 2019
   Nine months ended December 31, 2018 
         
Sale of products, net  $1,237,200   $225,254 
License revenue   31,788    - 
Total revenue   1,268,988    225,254 
Cost of goods sold   303,720    183,681 
Gross profit   965,268    41,573 
           
Operating expenses:          
Labor and related   1,302,391    454,179 
Research and development   351,670    207,600 
Selling, general, and administrative   4,799,030    1,055,805 
Total operating expenses   6,453,091    1,717,584 
Loss from operations   (5,487,823)   (1,676,011)
           
Other income (expense):          
Interest expense   (226,239)   - 
Interest income   37    39 
Extinguishment of derivative liabilities   145,565    - 
Change in fair value of derivative liabilities   19,491    - 
Private placement costs   (238,395)   - 
Gain on forgiveness of accrued interest   -    21,000 
Gain on extinguishment of debt   -    41,000 
Other income and expense, net   (299,541)   62,039 
           
Net loss  $(5,787,364)  $(1,613,972)
           
Net loss per share, basic and diluted  $(0.14)  $(0.05)
Weighted average common shares outstanding – basic and diluted   42,808,603    35,100,108 

 

See notes to consolidated financial statements.

 

F-4

 

 

QUANTA, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

FOR THE YEAR ENDED DECEMBER 31, 2019

AND THE NINE MONTHS ENDED DECEMBER 31, 2018

 

   Common Stock, par value $0.001   Additional             
   Number of shares   Amount   paid-in capital   Shares to be issued   Accumulated deficit   Total 
Balance, March 31, 2018   21,908,810   $21,909   $(11,909)  $-   $(836,412)  $(826,412)
Shares issued for recapitalization   6,500,000    6,500    (6,500)   -    -    - 
Costs of recapitalization   -    -    (495,760)   -    -    (495,760)
Shares issued for cash   6,500,090    6,500    1,293,518    -    -    1,300,018 
Fair value of shares issued for settlement of convertible notes payable   3,771,040    3,771    1,011,229    -    -    1,015,000 
Fair value of shares issued for services   520,150    520    193,510    -    -    194,030 
Fair value of warrants issued for services   -    -    376,510    -    -    376,510 
Cash received for shares to be issued   -    -    -    306,000    -    306,000 
Net loss for the nine months ended December 31, 2018   -    -    -    -    (1,613,972)   (1,613,972)
Balance, December 31, 2018   39,200,090    39,200    2,360,598    306,000    (2,450,384)   255,414 
Issuance of shares   612,000    612    305,388    (306,000)   -    - 
Shares issued for cash   6,330,750    6,331    2,084,044    -    -    2,090,375 
Cash received for shares to be issued   -    -    -    530,000    -    530,000 
Shares issued for cashless exercise of warrants   2,590,910    2,590    (2,590)   -    -    - 
Fair value of shares for services   212,505    213    106,040    2,317,868    -    2,424,121 
Fair value of vested options   -    -    711,404    -    -    711,404 
Fair value of shares issued for loan fee   141,000    141    54,849    -    -    54,990 
Net loss   -    -    -    -    (5,787,364)   (5,787,364)
Balance, December 31, 2019   49,087,255   $49,087   $5,619,733   $2,847,868   $(8,237,748)  $278,940 

 

See accompanying notes to financial statements

 

F-5

 

 

QUANTA, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS

 

   Year Ended
December 31, 2019
   Nine Months Ended
December 31, 2018
 
CASH FLOW FROM OPERATING ACTIVITIES:          
Net loss  $(5,787,364)  $(1,613,972)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation   173,902    86,875 
Fair value of shares issued for services   2,424,121    194,030 
Fair value of vested options   711,404    - 
Fair value of warrants issued for services   -    376,510 
Extinguishment of derivative liabilities   (145,565)   - 
Change in fair value of derivatives   (19,491)   - 
Private placement costs   238,395    - 
Amortization of convertible note discount   185,330    - 
Gain on forgiveness of accrued interest   -    (21,000)
Gain on extinguishment of debt   -    (41,000)
Amortization of operating lease right-of-use asset   87,132    - 
Changes in operating assets and liabilities:          
Accounts receivable   (8,699)   (19,561)
Inventories   (122,519)   - 
Prepaid expenses   (7,500)   - 
Accounts payable and accrued liabilities   63,981    9,617 
Deferred revenue, license agreement   68,212    - 
Operating lease liabilities   (82,659)   - 
Net cash used in operating activities   (2,221,320)   (1,028,501)
           
CASH FLOW FROM INVESTING ACTIVITIES:          
Purchase of equipment   (114,500)   (175,000)
Payment of security deposit   (16,882)   (16,770)
Net cash used in investment activities   (131,382)   (191,770)
           
CASH FLOW FROM FINANCING ACTIVITIES:          
Proceeds from shares issued for cash   2,090,375    1,300,018 
Proceeds from shares to be issued   530,000    306,000 
Proceeds from convertibles notes payable   326,800    - 
Proceeds from notes payable   -    100,000 
Principal payments of notes payable   (124,150)   - 
Principal payment of convertible note payable   (73,000)     
Costs of recapitalization   -    (495,760)
Net cash provided by financing activities   2,750,025    1,210,258 
Decrease in cash   397,323    (10,013)
Cash and cash equivalents, beginning of period   35,820    45,833 
Cash and cash equivalents, end of period  $433,143   $35,820 
           
Supplemental Disclosures of Cash Flow Information:          
Cash paid for taxes  $800   $1,600 
Cash paid for Interest   15,080    - 
           
Non-cash investing and financing activities          
Derivative liabilities allocated to convertible note discount  $326,800   $- 
Original issue discount   28,200    - 
Fair value of shares issued for loan fee   54,990    - 
Shares issued for cashless exercise of warrant   2,590    - 
Fair value of shares issued for settlement of convertible notes payable   -    1,015,000 

 

See notes to consolidated financial statements

 

F-6

 

 

QUANTA, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2019 AND

THE NINE MONTHS ENDED DECEMBER 31, 2018

 

NOTE 1 – DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Quanta, Inc (“the Company”) was incorporated as Freight Solution, Inc. (“Freight Solution”) on April 28, 2016 in the State of Nevada. Effective June 6, 2018, Bioanomaly Inc. (“Bioanomaly”) was acquired by Freight Solution pursuant to a merger agreement in which the shareholders of Bioanomaly exchanged all of the outstanding shares of Bioanomaly for 21,908,810 newly issued shares of Freight Solution’s common stock. Freight Solution shareholders retained 6,500,000 shares of common stock, which represented 23% of the issued and outstanding stock following the merger. The acquisition was accounted for as a reverse merger transaction. In connection with the closing of the merger, Freight Solution’s management was replaced by Bioanomaly’s management. On July 11, 2018, the Company changed its name to Quanta, Inc. The Company is an applied science company focused on increasing energy levels in plant matter to increase performance within the human body. The Company’s operations are based in Burbank, California.

 

Going Concern

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the year ended December 31, 2019, the Company incurred a net loss of $5,787,364 and used cash in operating activities of $2,221,320, and at December 31, 2019, the Company had a had a working capital deficiency of $113,909. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

At December 31, 2019, the Company had cash on hand in the amount of $433,143. Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and $30,000 for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing

 

Basis of presentation and principles of Consolidation

 

The accompanying consolidated financial statements have been prepared in accordance with accounting standards generally accepted in the United States of America.

 

In December 2018, the Company its fiscal year end from March 31 to December 31. The transition period covering the nine-month period from April 1, 2018 to December 31, 2018 is included in the accompany consolidated financial statements.

 

The consolidated financial statements include the accounts of Quanta Inc, and its wholly-owned subsidiary, Bioanomaly, Inc. All intercompany balances and transactions have been eliminated in consolidation.

 

F-7

 

 

Use of estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, allowance for doubtful accounts receivable, impairment analysis of long-term assets, valuation allowance on deferred income taxes, assumptions used in valuing stock instruments issued for services, assumptions made in valuing derivative liabilities, and the accrual of potential liabilities. Actual results may differ from these estimates.

 

Accounts Receivable

 

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts if deemed necessary, and payments are generally due within thirty to forty-five days of invoicing. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. At December 31, 2019 and December 31, 2018, the Company did not record any allowance for uncollectible accounts.

 

Inventories

 

Inventories are stated at the lower of cost or net realizable value. We regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Additionally, our management’s estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess and obsolete inventory. At December 31, 2019 and 2018, the Company had no reserve for inventory obsolescence.

 

Equipment

 

Equipment is stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the equipment, which is three years, using the straight-line method. Expenditures for major additions and improvements are capitalized and minor repairs and maintenance are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period.

 

Management assesses the carrying value of equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the year ended December 31, 2019 and for the nine-months period ended December 31, 2018, the Company determined there were no indicators of impairment of its property and equipment.

 

Revenue

 

The Company follows the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

 

Product Sales—Revenue from sales of the Company’s CBD products is recognized at the point in time when the Company’s performance obligations with the applicable customers have been satisfied. At contract inception, the Company determines if the contract is within the scope of ASC Topic 606 and then evaluates the contract using the following five steps: (1) identify the contract with the customer; (2) identify the performance obligations; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue at the point in time when the entity satisfies a performance obligation.

 

F-8

 

 

Revenue is recorded at the transaction price, which is the amount of consideration the Company expects to receive in exchange for transferring products to a customer. Generally, the Company’s performance obligations are transferred to the customer at a point in time, typically upon delivery of products. The Company historically has offered no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against revenue.

 

The Company sells its products (i) directly to customers (“DTC”) through online orders from our websites, and DTC sales at conventions and events; and (ii) through wholesalers, including physicians, pharmacies, fitness studios, grocery stores, and other organizations.

 

License revenue— Revenue from symbolic IP is recognized over the access period to the Company’s IP (see Note 2).

 

Cost of goods sold includes direct costs and fees related to the sale of our products.

 

Disaggregated Revenue

 

The composition of the Company’s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:

 

   Year ended December 31, 2019   Nine-months ended December 31, 2018 
By Sales Channel:          
Direct to consumer  $443,916   $67,806 
Wholesale   793,284    157,448 
License Revenue   31,788    - 
   $1,268,988   $225,254 
           
By Geographic Territory:          
California  $766,469   $156,974 
Other states   477,139    68,280 
International   25,380    - 
   $1,268,988   $225,254 

 

Leases

 

Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standard in effect for those periods. The adoption of ASC 842 on January 1, 2019 resulted in the recognition of operating lease right-of-use assets and lease liabilities of $420,112 and did not result in a cumulative-effect adjustment to accumulated deficit (see Note 5).

 

Derivative Financial Instruments

 

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments at inception and on subsequent valuation dates through the December 31, 2019, reporting date. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period

 

Income taxes

 

The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

 

Stock Compensation

 

The Company issues stock options, warrants, shares of common stock, and restricted stock unit awards, as share-based compensation to employees and non-employees. The Company accounts for its share-based compensation to employees in accordance with FASB ASC 718, Compensation – Stock Compensation (Topic 718). Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite service period.

 

In periods through December 31, 2018, the Company accounted for share-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity - Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The final fair value of the share-based payment transaction is determined at the performance completion date. For interim periods, the fair value is estimated, and the percentage of completion is applied to that estimate to determine the cumulative expense recorded.

 

On January 1, 2019, the Company adopted ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 simplifies the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. The adoption of ASU 2018-07 did not have a material impact on the Company’s financial statements.

 

Advertising costs

 

Advertising costs are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, advertising costs totaled $103,401 and $27,529, respectively.

 

Research and Development Costs

 

Costs incurred for research and development are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, research and development costs totaled $351,670 and 207,600, respectively and include salaries, benefits, and overhead costs of personnel conducting research and development of the Company’s products.

 

Net Loss per Share

 

Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Shares used in the calculation of basic net loss per common share include vested but unissued shares underlying awards of restricted common stock. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding warrants and convertible notes are exercised and the proceeds are used to purchase common stock at the average market price during the period. Warrants and convertible notes may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants.

 

F-9

 

 

For the year ended December 31, 2019, the dilutive impact of stock options exercisable into 3,290,000 shares of common stock, 8,000,000 shares of restricted stock to be issued, and convertible notes payable that can convert into 889,469 shares of common stock have been excluded from calculation of weighted average shares because their impact on the loss per share is anti-dilutive. For the year ended December 31, 2019, the dilutive impact of stock warrants exercisable into 3,000,000 shares of common stock have been excluded because their impact on the loss per share is anti-dilutive.

 

Fair Value of Financial Instruments

 

The Company follows the authoritative guidance issued by the Financial Accounting Standards Board (“FASB”) for fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

 

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.

Level 3—Unobservable inputs based on the Company’s assumptions.

 

The Company is required to use of observable market data if such data is available without undue cost and effort.

 

The Company believes the carrying amount reported in the balance sheet for cash, accounts receivable, accounts payable and accrued liabilities, and notes payable, approximate their fair values because of the short-term nature of these financial instruments

 

As of December 31, 2019, the Company’s balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $400,139 (see Note 8).

 

Concentrations of risks

 

For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, no customer accounted for 10% or more of revenue. As of December 31, 2019, two customers accounted for 19% and 12% of accounts receivable, respectively, and no other customer accounted for 10% or more of accounts receivable. As of December 31, 2018, no customer accounted for more than 10% of accounts receivable.

 

F-10

 

 

Additionally, for the same periods, no vendor accounted for 10% or more of the Company’s cost of goods sold, or accounts payable at period-end.

 

The Company maintains the majority of its cash balances with one financial institution, in the form of demand deposits that are insured by the Federal Deposit Insurance Corporation, or FDIC. At times, deposits held may exceed the amount of insurance provided by the FDIC. The Company has not experienced any losses in its cash and believes it is not exposed to any significant credit risk.

 

Segments

 

The Company operates in one segment for the development and distribution of our CBD products. In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. Since the Company operates in one segment, all financial information required by “Segment Reporting” can be found in the accompanying financial statements.

 

Recent Accounting Pronouncements

 

In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The Company is currently assessing the impact of adopting this standard on the Company’s financial statements and related disclosures.

 

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

 

NOTE 2 – LICENSE AGREEMENT

 

Effective January 22, 2019, the Company entered into an agreement with a wholesaler for the exclusive rights to distribute the Company’s products in the state of Colorado for three years. In consideration, the Company received an up-front payment of $100,000. The Company determined that the exclusive distribution agreement was a distinct agreement for the license of symbolic IP and thus should be recognized on a straight-line basis over the three-year life of the agreement. For the year ended December 31, 2019, the Company recognized revenue related to this agreement of $31,788. For the nine month period ended December 31, 2018, no distribution fee revenue was recorded.

 

F-11

 

 

NOTE 3 – INVENTORIES

 

Inventories are valued at the lower of cost (first-in, first-out) or net realizable value, and consisted of the following:

 

   December 31, 2019   December 31, 2018 
         
Raw materials and packaging  $102,428   $          - 
Finished goods   20,091    - 
           
   $122,519   $- 

 

NOTE 4 - EQUIPMENT

 

Equipment, stated at cost, less accumulated depreciation consisted of the following:

 

   December 31, 2019   December 31, 2018 
         
Machinery-technology equipment  $607,000   $347,500 
Machinery-technology equipment under construction   30,000    175,000 
    637,000    522,500 
Less accumulated depreciation   (323,522)   (149,620)
           
   $313,478   $372,880 

 

Depreciation expense for the year ended December 31, 2019 and transition period ended December 31, 2018 was $173,903 and $185,835, respectively. As of December 31, 2019, the equipment under construction is approximately 33% complete, and is expected to be completed and placed into service during the year ended December 31, 2020.

 

NOTE 5 - OPERATING LEASE

 

The Company leases its headquarters office space in Burbank, California under an operating lease that expires on July 31, 2023. At December 31, 2019, the Company did not have any other leases.

 

Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally the implicit rate of interest in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives.

 

Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases (“ASC 842”), which requires an entity to recognize a right-of-use asset and a lease liability for certain leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. The adoption of ASC 842 on January 1, 2019, resulted in the recognition of operating lease right-of-use assets of $420,112 and corresponding lease liabilities of approximately the same amount. There was no cumulative-effect adjustment to accumulated deficit. As of December 31, 2019, the unamortized right of use asset was $332,980 and total lease liabilities were $337,453, of which $85,662 was current.

 

F-12

 

 

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

 

  

Year ended

December 31, 2019

 
Lease Cost     
Operating lease cost (included in selling, general, and administrative expense in the Company’s statement of operations)  $107,588 
      
Other Information     
Cash paid for amounts included in the measurement of lease liabilities for 2019  $98,375 
Weighted average remaining lease term – operating leases (in years)   3.5 
Average discount rate – operating leases   4%

The supplemental balance sheet information related to leases for the period is as follows:

 

   At December 31, 2019 
Operating leases     
Long-term right-of-use assets  $332,980 
      
Short-term operating lease liabilities  $85,662 
Long-term operating lease liabilities   251,791 
Total operating lease liabilities  $337,453 

 

Maturities of the Company’s lease liabilities are as follows:

 

Year Ending  Operating Leases 
2020  $97,625 
2021   102,506 
2022   107,632 
2023   55,126 
Total lease payments   362,889 
Less: Imputed interest/present value discount   (25,436)
Present value of lease liabilities   337,453 
Less current portion   (85,662)
Operating lease liabilities, long-term  $251,791 

 

Lease expense were $107,588 and $42,040 during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, respectively.

 

Subsequent to December 31, 2019, the Company commenced leasing a second facility in addition to its headquarters facility described above (See Note 13).

 

NOTE 6 – NOTES PAYABLE

 

   December 31, 2019   December 31, 2018 
         
Note payable, in default, due January 13, 2019, interest at 8.3% per annum, secured by all the assets of the Company. As of the date of the financial statements, the note has not been fully paid, and the Company is in negotiations with the lender to cure this default.  $55,850   $80,000 
           
Note payable, unsecured, due January 6, 2019, interest at 10% per year. The note was paid off in 2019.   -    100,000 
           
Total notes payable (all current portion)  $55,850   $180,000 

 

F-13

 

 

NOTE 7 – CONVERTIBLE NOTES PAYABLE

 

At December 31, 2018, there was no balance of convertible notes payable. During 2019, the Company issued two convertible promissory notes for the principal sum of $355,000, of which $326,800 was received as proceeds, and $28,200 was recorded as original issue discount (OID). During 2019, one convertible note for $73,000 was repaid. At December 31, 2019, one convertible note for $282,000 was outstanding. The outstanding note is unsecured, bears interest at 12%, and is due April 29, 2020.

 

At the option of the holders, the notes issued in 2019 are convertible into shares of the Company’s common stock at a price per share discount of 39% to 40% of the average market price of the Company’s common stock, as defined. As a result, the Company determined that the conversion option of the convertible notes were not considered indexed to the Company’s own stock and characterized the fair value of the conversion features as derivative liabilities upon issuance. The Company determined that upon issuance of the convertible notes in October 2019, the initial fair value of the embedded conversion features totaled $565,195 (see Note 8), of which $326,800 was recorded as debt discount offsetting the face amount of the convertible notes, and the remainder of $238,395 was recorded as private placement costs.

 

At December 31, 2018, there was no balance of discount on convertible notes payable. During 2019, note discount of $355,000 was recorded, made up of $28,200 OID and $326,800 of discount related to derivative liabilities. In addition, $54,990 of loan costs recorded on one convertible note (see below) are included with the discount. The discount and loan costs are amortized over the term of the related note payable. During 2019, total debt discount and loan costs amortization was $185,330, and at December 31, 2019, the unamortized debt discount and loan fee totaled $224,660.

 

In connection with the issuance of one convertible note with the principal balance of $282,000, the Company issued as a commitment fee 141,000 shares of its common stock (the “Non-Returnable Shares”) as well as 705,000 shares of its common stock (the “Returnable Shares”). The Company recorded the fair value of the Non-Returnable fees of $54,990 as a loan cost. The Returnable Shares are an own-share lending arrangement issued in contemplation of a debt offering and such shares will be returned to the Company if no event of default has occurred prior to April 29, 2020, the maturity date of the note. At issuance, the fair value of the share lending arrangement was determined to be immaterial. In accordance with ASC 470-20, the shares are not deemed issued until it becomes more likely than not that they will not be returned and at such point the shares should be measured at fair value and such value recognized as a financing cost. At December 31, 2019, management determined that it is probable that the Company will pay the note in full when due, and meet all other conditions in the note agreement. Accordingly, management feels that it is more likely than not that the returnable shares will be returned to the Company and therefore the 705,000 Returnable Shares have not been recorded as being issued as of December 31, 2019, nor are they included in basic net loss per share or as potentially dilutive shares in calculating the diluted net loss per share.

 

Note 8 – DERIVATIVE FINANCIAL INSTRUMENTS

 

During 2019, the Company had convertible promissory notes outstanding that are convertible into shares of common stock of the Company at the option of the holder at price per share discounts ranging from 39% to 40% of the Company’s common stock market price, as defined in the note agreements. As the ultimate determination of shares to be issued upon conversion of these notes could exceed the current number of available authorized shares, the Company determined that the conversion features of the convertible notes were not considered indexed to the Company’s own stock and characterized the fair value of the conversion features as derivative liabilities. Accordingly, the conversion features of the notes were separated from the host contracts (i.e. the notes) and characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations.

 

At December 31, 2018, there was no balance of derivative liabilities. During the year ended December 31, 2019, the Company recorded additions of $565,195 related to the conversion features of notes issued during the period (see Note 7), and a decrease in fair value of derivatives of ($19,491). In addition, the Company recorded a decrease in derivative liability of ($145,565) related to derivative liabilities that were extinguished when the related convertible note payable was paid off (see Note 7). At December 31, 2019, the balance of the derivative liabilities was $400,139.

 

The derivative liabilities were valued at the following dates using a probability weighted Black-Scholes-Merton model with the following assumptions:

 

  

December 31, 2019

   October 2019
(dates of inception)
 
Conversion feature:          
Risk-free interest rate   1.77%   1.75%
Expected volatility   222%   223%
Expected life (in years)   1 year    1 year 
Expected dividend yield   -    - 
           
Fair Value:          
Conversion feature  $400,139   $565,195 

 

F-14

 

 

The risk-free interest rate was based on rates established by the Federal Reserve Bank. The expected volatility is based on the historical volatility of the Company’s stock. The expected life of the conversion feature of the notes was based on the remaining terms of the related notes. The expected dividend yield was based on the fact that the Company has not customarily paid dividends to its common stockholders in the past and does not expect to pay dividends to its common stockholders in the future.

 

NOTE 9 – INCOME TAXES

 

The Company had no income tax expense for the year ended December 31, 2019 and the nine-month period ended December 31, 2018. The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:

 

   Year ended
December 31, 2019
   Nine-months ended
December 31, 2018
 
         
Federal tax at statutory rate   21.0%   21.0%
State tax, net of federal benefit   7.0    7.0 
Change in valuation allowance   (28.0)   (28.0)
           
Effective income tax rate   0.0%   0.0%

 

Deferred tax assets and liabilities consist of the following:

 

   December 31, 2019   December 31, 2018 
Deferred tax assets:          
Stock-based compensation  $1,039,000   $160,000 
Operating lease liability   94,000    - 
Derivative expenses   67,000    - 
Net operating loss carryforwards   1,132,000    425,000 
Gross deferred tax assets   2,332,000    585,000 
Less: valuation allowance   (2,103,000)   (540,000)
Total deferred tax assets   229,000    45,000 
Deferred tax liabilities:          
Depreciation   90,000    45,000 
Derivative gain   46,000    - 
Operating lease right-of-use asset   93,000    - 
Total deferred tax liabilities   229,000    45,000 
Net deferred tax asset (liability)  $-   $- 

 

F-15

 

 

The provisions of ASC Topic 740, Accounting for Income Taxes, require an assessment of both positive and negative evidence when determining whether it is more likely than not that deferred tax assets are recoverable. For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, based on all available objective evidence, including the existence of cumulative losses, the Company determined that it was more likely than not that the net deferred tax assets were not fully realizable. Accordingly, the Company established a full valuation allowance against its net deferred tax assets. The Company intends to maintain a full valuation allowance on net deferred tax assets until sufficient positive evidence exists to support reversal of the valuation allowance. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, the valuation allowance increased by $1.5 million and $0.5 million, respectively.

 

At December 31, 2019 and 2018, the Company had available Federal and state net operating loss carryforwards (“NOL”s) to reduce future taxable income. For Federal purposes the amounts available were approximately $4.3 million and $1.6 million, respectively. For state purposes approximately $3.1 million and $1.1 was available at December 31, 2019 and 2018, respectively. The Federal carryforwards expire on various dates through 2039 and the state carryforwards expire through 2036. Due to restrictions imposed by Internal Revenue Code Section 382 regarding substantial changes in ownership of companies with loss carryforwards, the utilization of the Company’s NOL may be limited as a result of changes in stock ownership. NOLs incurred subsequent to the latest change in control are not subject to the limitation.

 

The Company’s operations are based in California and it is subject to Federal and California state income tax. Tax years after 2015 are open to examination by United States and state tax authorities.

 

The Company adopted the provisions of ASC 740, which requires companies to determine whether it is “more likely than not” that a tax position will be sustained upon examination by the appropriate taxing authorities before any tax benefit can be recorded in the financial statements. ASC 740 also provides guidance on the recognition, measurement, classification and interest and penalties related to uncertain tax positions. As of December 31, 2019 and December 31, 2018, no liability for unrecognized tax benefits was required to be recorded or disclosed.

 

NOTE 10 – STOCKHOLDERS’ EQUITY

 

The Company’s authorized capital consists of 125,000,000 shares, of which 100,000,000 shares are designated as shares of common stock, par value $0.001 per share, and 25,000,000 shares are designated as shares of preferred stock, par value $0.001 per share. No shares of preferred stock are currently outstanding. Shares of preferred stock may be issued in one or more series, each series to be appropriately designated by a distinguishing letter or title, prior to the issuance of any shares thereof. The voting powers, designations, preferences, limitations, restrictions, relative, participating, options and other rights, and the qualifications, limitations, or restrictions thereof, of the preferred stock are to be determined by the Board of Directors before the issuance of any shares of preferred stock in such series.

 

Common stock issued for cash

 

During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, the Company completed a private placements of shares at prices ranging from $.10 to $0.50 per share. A total of $2,926,375 was received, including $2,090,375 in 2019 for shares issued in 2019, $530,000 in 2019 for shares subscribed, and $306,000 in 2018 for shares issued in 2019.

 

The Company agreed to issue a total 12,011,269 shares in the private placements, of which 6,942,750 shares were issued through December 31, 2019, and 5,068,519 shares are included in shares to be issued on the accompanying financial statements.

 

NOTE 11 – SHARE-BASED PAYMENTS

 

Restricted common stock

 

On May 20, 2019, the Company agreed to issue 8,000,000 shares of the Company’s common stock with vesting terms to a consultant for services (see Note 12). 1,000,000 shares vested immediately, and the balance of 7,000,000 shares will vest 625,000 shares per quarter over 2.8 years. In the event the consultants service with the Company terminates, any or all of the shares of common stock held by such recipient that have not vested as of the date of termination are forfeited to the Company in accordance with such restricted grant agreement.

 

The total fair value of the 8,000,000 shares was determined to be $4,000,000 based on the price per shares of a contemporaneous private placement of the Company’s common stock on the date granted. The Company accounts for the share awards using a graded vesting attribution method over the requisite service period, as if each tranche were a separate award. During the year ended December 31, 2019, total share-based expense recognized related to vested restricted shares totaled $2,317,868. At December 31, 2019, there was $1,628,132 of unvested compensation related to these awards that will be amortized over a remaining vesting period of 2.3 years.

 

F-16

 

 

The following table summarizes restricted common stock activity for the year ended December 31, 2019:

 

    Number of shares     Fair value of shares  
Non-vested shares, January 1, 2019     -     $ -  
Granted     8,000,000       4,000,000  
Vested     (2,250,000 )     (2,317,868 )
Forfeited     -       -  
Non-vested shares, December 31, 2019     5,750,000     $ 1,682,132  

 

As of December 31, 2019, no shares have been issued and 2,250,000 vested shares are included in shares to be issued on the accompanying financial statements

 

Common stock issued for services

 

During the year ended December 31, 2019, the Company issued 212,505 shares of common stock to a consultant for services rendered. The shares were valued at $106,253 based on the price per share of a contemporaneous private placement of the Company’s common stock on the date granted and included in selling, general, and administrative expense on the accompanying financial statements.

 

Stock Options

 

During the year ended December 31, 2019, the Company issued options exercisable into 3,290,000 shares of common stock. 1,800,000 options vested immediately, and the balance of 1,490,000 options vest over various periods up to four years. The options have an exercise price of $0.23 per share, and expire in ten years. Total fair value of these options at grant date was approximately $1,179,000, which was determined using the Black-Scholes-Merton option pricing model with the following average assumption: stock price ranging from $0.23 to $0.38 per share, expected term ranging from five to seven years, volatility ranging from 213% to 218%, dividend rate of 0% and risk-free interest rate of 1.77%. During the year ended December 31, 2019, the Company recognized $711,404 of compensation expense relating to vested stock options. As of December 31, 2019, the amount of unvested compensation related to stock options was approximately $468,000 which will be recorded as an expense in future periods as the options vest.

 

The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future.

 

A summary of stock option activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:

 

    Number of warrants   Weighted Average
Exercise Price
   Contractual
Life in Years
 
              
Options Outstanding and Exercisable as of March 31, 2018    -   $-    - 
Granted    -   $-    - 
Exercised    -    -    - 
Expired    -    -    - 
Options Outstanding and Exercisable as of December 31, 2018    -   $-    - 
Granted    3,290,000    0.23    6.0 
Exercised    -    -    - 
Expired    -    -    - 
Options Outstanding as of December 31, 2019    3,290,000    0.23    6.0 
Options Exercisable as of December 31, 2019    1,800,000   $0.23    5.8 

 

F-17

 

 

At December 31, 2019, the aggregate intrinsic value of the stock options was $322,749.

 

Stock Warrants

 

In 2018, the Company issued warrants exercisable into 3,000,000 shares of common stock. The warrants were fully vested when issued, have an exercise price of $0.30 per share, and expire in 2022. Total fair value of these warrants at grant date was approximately $377,000, which was determined using the Black-Scholes-Merton option pricing model with the following average assumption: stock price of $0.20 per share, expected term of four years, volatility of 170%, dividend rate of 0% and risk-free interest rate of 1.76%. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future. During the year ended December 31, 2019, there was a cashless exercise of all of the 3,000,000 warrants.

 

A summary of warrant activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:

 

    Number of warrants   Weighted Average
Exercise Price
   Contractual
Life in Years
 
              
Warrants Outstanding and Exercisable as of March 31, 2018    -   $-    - 
Granted    3,000,000   $0.30    4.00 
Exercised    -    -    - 
Expired    -    -    - 
Warrants Outstanding and Exercisable as of December 31, 2018    3,000,000   $0.30    4.00 
Granted    -    -    - 
Exercised    (3,000,000)  $0.30    - 
Expired    -    -    - 
Warrants Outstanding and Exercisable as of December 31, 2019    -   $-    - 

 

NOTE 12 – COMMITMENTS AND CONTINGENCIES

 

 

The Company has an agreement with an individual in consideration of the Company’s exclusive use of patented technology developed by the individual. Pursuant to the agreement, as amended, the Company shall pay a royalty of 25% of all the net income from the sale of licensed products, as defined with a minimum royalty of $35,000 per month payable in cash or common stock of the Company. In addition, the Company agreed to issue 8,000,000 shares of the Company’s common stock with vesting terms to the individual (see Note 11). During the year ended December 31, 2019, the Company paid $343,300 to the individual.

 

NOTE 13 – SUBSEQUENT EVENTS

 

In February 2020, the Company issued one unsecured convertible promissory note for $153,000, bearing interest at 22% per annum, and maturing in August 2020. The note is convertible at a 39% discount to the price of the Company’s common stock, as defined.

 

In February 2020, the Company received $30,000 for subscriptions for shares of common stock to be issued in a private placement.

 

On December 19, 2019, the Company entered into a non-cancelable real property lease agreement for approximately 3096 square feet of office, research, and production space in Burbank, California. The Company took possession of the space in February 2020. The lease term is for 60 months with an option to extend the term for an additional five years thereafter. The lease has with the annual fixed rental payments escalating from $7,500 to $8,441 during the original term. The aggregate total fixed rent is approximately $478,000 and will result in the recognition of an operating lease right-of-use asset of approximately $430,000 and corresponding lease liabilities of approximately the same amount. The Company also paid a security deposit of $16,883.

 

In March 2020, the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, have adversely affected workforces, customers, economies, and financial markets globally, likely leading to an economic downturn. It has also disrupted the normal operations of many businesses. This outbreak could decrease spending, adversely affect demand for our product and harm our business and results of operations. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business or results of operations at this time.

 

In March 2020, the Company issued approximately 241,000 shares of common stock with a fair value of approximately $28,000 to employees for services.

 

F-18

 

EX-4.1 2 ex4-1.htm

 

Exhibit 4.1

DESCRIPTION OF SECURITIES

 

We were incorporated under the laws of the State of Nevada on April 28, 2016. We are authorized to issue 100,000,000 shares of common stock, par value $0.001 per share and 25,000,000 shares of preferred stock, par value $0.001 per share.

 

Common Stock

 

Our articles of incorporation authorize the issuance of 100,000,000 shares of Common Stock. The holders of our Common Stock:

 

  have equal ratable rights to dividends from funds legally available for payment of dividends when, as and if declared by the board of directors;
     
  are entitled to share ratably in all of the assets available for distribution to holders of Common Stock upon liquidation, dissolution or winding up of our affairs;
     
  do not have preemptive, subscription or conversion rights, or redemption or access to any sinking fund; and
     
  are entitled to one non-cumulative vote per share on all matters submitted to stockholders for a vote at any meeting of stockholders.

 

Authorized but Unissued Capital Stock

 

Nevada law does not require stockholder approval for the issuance of authorized shares. These additional shares may be used for a variety of corporate purposes, including future public offerings to raise additional capital or to facilitate corporate acquisitions.

 

One of the effects of the existence of unissued and unreserved common stock (or preferred stock) may be to enable our board of directors to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of our board by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly deprive the stockholders of opportunities to sell their shares of our common stock at prices higher than prevailing market prices.

 

Shareholder Matters

 

As an issuer of “penny stock” the protection provided by the federal securities laws relating to forward looking statements does not apply to us if our shares are considered to be penny stocks (which they currently are and probably will be for the foreseeable future). Although the federal securities law provide a safe harbor for forward-looking statements made by a public company that files reports under the federal securities laws, this safe harbor is not available to issuers of penny stocks. As a result, we will not have the benefit of this safe harbor protection in the event of any claim that the material provided by us, including this prospectus, contained a material misstatement of fact or was misleading in any material respect because of our failure to include any statements necessary to make the statements not misleading.

 

As a Nevada corporation, we are subject to the Nevada Revised Statutes (“NRS” or “Nevada law”). Certain provisions of Nevada law described below create rights that might be deemed material to our shareholders. Other provisions might delay or make more difficult acquisitions of our stock or changes in our control or might also have the effect of preventing changes in our management or might make it more difficult to accomplish transactions that some of our shareholders may believe to be in their best interests.

 

   
 

 

Common Stock Equivalents

 

We have issued and may continue to issue common stock equivalents, including, but not limited to, stock option awards under our equity incentive plans, warrants to acquire shares of our common stock, preferred stock and notes convertible into shares of our common stock.

 

Selected Provisions of the Nevada Revised Statutes

 

Directors’ Duties. Section 78.138 of the Nevada law allows our directors and officers, in exercising their powers to further our interests, to consider the interests of our employees, suppliers, creditors and shippers. They can also consider the economy of the state and the nation, the interests of the community and of society and our long-term and short-term interests and shareholders, including the possibility that these interests may be best served by our continued independence. Our directors may resist a change or potential change in control if they, by a majority vote of a quorum, determine that the change or potential change is opposed to or not in our best interest. Our board of directors may consider these interests or have reasonable grounds to believe that, within a reasonable time, any debt which might be created as a result of the change in control would cause our assets to be less than our liabilities, render us insolvent, or cause us to file for bankruptcy protection.

 

Dissenters’ Rights. Among the rights granted under Nevada law which might be considered material is the right for shareholders to dissent from certain corporate actions and obtain payment for their shares (see NRS 92A.380-390). This right is subject to exceptions, summarized below, and arises in the event of mergers or plans of exchange. This right normally applies if shareholder approval of the corporate action is required either by Nevada law or by the terms of the articles of incorporation.

 

A shareholder does not have the right to dissent with respect to any plan of merger or exchange, if the shares held by the shareholder are part of a class of shares which are:

 

  listed on a national securities exchange,

 

  included in the national market system by the Financial Industry Regulatory Authority (“FINRA”), or

 

  held of record by not less than 2,000 holders.

 

This exception notwithstanding, a shareholder will still have a right of dissent if it is provided for in the articles of incorporation or if the shareholders are required under the plan of merger or exchange to accept anything but cash or owner’s interests, or a combination of the two, in the surviving or acquiring entity, or in any other entity falling in any of the three categories described above in this paragraph.

 

Inspection Rights. Nevada law also specifies that shareholders are to have the right to inspect company records (see NRS 78.105). This right extends to any person who has been a shareholder of record for at least six months immediately preceding his demand. It also extends to any person holding, or authorized in writing by the holders of, at least 5% of outstanding shares. Shareholders having this right are to be granted inspection rights upon five days’ written notice. The records covered by this right include official copies of:

 

  the articles of incorporation, and all amendments thereto,
     
  bylaws and all amendments thereto; and
     
  a stock ledger or a duplicate stock ledger, revised annually, containing the names, alphabetically arranged, of all persons who are stockholders of the corporation, showing their places of residence, if known, and the number of shares held by them, respectively.

 

In lieu of the stock ledger or duplicate stock ledger, Nevada law provides that the corporation may keep a statement setting out the name of the custodian of the stock ledger or duplicate stock ledger, and the present and complete post office address, including street and number, if any, where the stock ledger or duplicate stock ledger specified in this section is kept.

 

   
 

 

Control Share Acquisitions. Sections 78.378 to 78.3793 of Nevada law contain provisions that may prevent any person acquiring a controlling interest in a Nevada-registered company from exercising voting rights. To the extent that these rights support the voting power of minority shareholders, these rights may also be deemed material. These provisions will be applicable to us as soon as we have 200 shareholders of record with at least 100 of these having addresses in Nevada as reflected on our stock ledger. While we do not yet have the required number of shareholders in Nevada or elsewhere, it is possible that at some future point we will reach these numbers and, accordingly, these provisions will become applicable. We do not intend to notify shareholders when we have reached the number of shareholders specified under these provisions of Nevada law. Shareholders can learn this information pursuant to the inspection rights described above and can see the approximate number of our shareholders by checking under Item 5 of our most recent annual report on Form 10-K. You can view these and our other filings at www.sec.gov in the “EDGAR” database.

 

Under NRS Sections 78.378 to 78.3793, an acquiring person who acquires a controlling interest in company shares may not exercise voting rights on any of these shares unless these voting rights are granted by a majority vote of our disinterested shareholders at a special shareholders’ meeting held upon the request and at the expense of the acquiring person. If the acquiring person’s shares are accorded full voting rights and the acquiring person acquires control shares with a majority or more of all the voting power, any shareholder, other than the acquiring person, who does not vote for authorizing voting rights for the control shares, is entitled to demand payment for the fair value of their shares, and we must comply with the demand. An “acquiring person” means any person who, individually or acting with others, acquires or offers to acquire, directly or indirectly, a controlling interest in our shares. “Controlling interest” means the ownership of our outstanding voting shares sufficient to enable the acquiring person, individually or acting with others, directly or indirectly, to exercise one-fifth or more but less than one-third, one-third or more but less than a majority, or a majority or more of the voting power of our shares in the election of our directors. Voting rights must be given by a majority of our disinterested shareholders as each threshold is reached or exceeded. “Control shares” means the company’s outstanding voting shares that an acquiring person acquires or offers to acquire in an acquisition or within 90 days immediately preceding the date when the acquiring person becomes an acquiring person.

 

These Nevada statutes do not apply if a company’s articles of incorporation or bylaws in effect on the tenth day following the acquisition of a controlling interest by an acquiring person provide that these provisions do not apply.

 

According to NRS 78.378, the provisions referred to above will not restrict our directors from taking action to protect the interests of our company and its shareholders, including without limitation, adopting or executing plans, arrangements or instruments that deny rights, privileges, power or authority to a holder of a specified number of shares or percentage of share ownership or voting power. Likewise, these provisions do not prevent directors or shareholders from including stricter requirements in our articles of incorporation or bylaws relating to the acquisition of a controlling interest in the company.

 

Our articles of incorporation and bylaws do not exclude us from the restrictions imposed by NRS 78.378 to 78.3793, nor do they impose any more stringent requirements.

 

Certain Business Combinations. Sections 78.411 to 78.444 of the Nevada law may restrict our ability to engage in a wide variety of transactions with an “interested shareholder.” As was discussed above in connection with NRS 78.378 to 78.3793, these provisions could be considered material to our shareholders, particularly to minority shareholders. They might also have the effect of delaying or making more difficult acquisitions of our stock or changes in our control. These sections of NRS are applicable to any Nevada company with 200 or more stockholders of record and that has a class of securities registered under Section 12 of the 1934 Securities Exchange Act, unless the company’s articles of incorporation provide otherwise.

 

   
 

 

These provisions of Nevada law prohibit us from engaging in any “combination” with an interested stockholder for three years after the interested stockholder acquired the shares that cause him/her to become an interested shareholder, unless he had prior approval of our board of directors. The term “combination” is described in NRS 78.416 and includes, among other things, mergers, sales or purchases of assets, and issuances or reclassifications of securities. If the combination did not have prior approval, the interested shareholder may proceed after the three-year period only if the shareholder receives approval from a majority of our disinterested shares or the offer meets the requirements for fairness that are specified in NRS 78.441-42. For the above provisions, a “resident domestic corporation” means a Nevada corporation that has 200 or more shareholders. An “interested stockholder” is defined in NSR 78.423 as someone who is either:

 

  the beneficial owner, directly or indirectly, of 10% or more of the voting power of our outstanding voting shares; or

 

  our affiliate or associate and who within three years immediately before the date in question, was the beneficial owner, directly or indirectly, of 10% or more of the voting power of our outstanding shares at that time.

 

Amendments to Bylaws

 

Our articles of incorporation provide that the power to adopt, alter, amend, or repeal our bylaws is vested exclusively with the board of directors. In exercising this discretion, our board of directors could conceivably alter our bylaws in ways that would affect the rights of our shareholders and the ability of any shareholder or group to effect a change in our control; however, the board would not have the right to do so in a way that would violate law or the applicable terms of our articles of incorporation.

 

Transfer Agent

 

The transfer agent for our common stock is Action Stock Transfer Corporation, 2469 E. Fort Union Blvd, Suite 214, Salt Lake City, Utah 84121. Its telephone number is (801) 274-1088.

 

   

 

EX-21.1 3 ex21-1.htm

 

Exhibit 21.1

 

Subsidiaries of the Registrant

 

Name   Jurisdiction of Organization
     
Bioanomaly Inc.   California

 

 
EX-31.1 4 ex31-1.htm

 

Exhibit 31.1

 

Rule 13a-14(a) Certification of the Chief Executive Officer

 

I, Eric Rice, certify that:

 

1. I have reviewed this report on Form 10-K of Quanta, Inc.;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

 

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

 

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: April 3, 2020 By: /s/ Eric Rice
    Eric Rice
    Chief Executive Officer
   

(Principal Executive and

Principal Accounting Officer)

 

 

 

EX-32.1 5 ex32-1.htm

 

Exhibit 32.1

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

The undersigned, the Chief Executive Officer of Quanta, Inc. (the “Company”), certifies that, to his knowledge:

 

1. The report of the Company for the period ended December 31, 2019 as filed with the Securities and Exchange Commission on this date (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2. The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 

Date: April 3, 2020 By: /s/ Eric Rice
    Eric Rice, Chief Executive Officer
   

(Principal Executive and

Principal Accounting Officer)

 

 

 

EX-101.INS 6 qnta-20191231.xml XBRL INSTANCE FILE 0001691430 2018-12-31 0001691430 2019-12-31 0001691430 2018-04-01 2018-12-31 0001691430 2019-01-01 2019-12-31 0001691430 QNTA:BioanomalyIncMember 2018-06-04 2018-06-06 0001691430 us-gaap:TechnologyEquipmentMember 2018-12-31 0001691430 QNTA:MachineryTechnologyEquipmentUnderConstructionMember 2018-12-31 0001691430 QNTA:NotePayableOneMember 2018-12-31 0001691430 QNTA:NotePayableTwoMember 2018-12-31 0001691430 QNTA:NotePayableOneMember 2018-04-01 2018-12-31 0001691430 QNTA:NotePayableTwoMember 2018-04-01 2018-12-31 0001691430 us-gaap:PrivatePlacementMember 2018-12-31 0001691430 QNTA:WarrantsMember 2018-04-01 2018-12-31 0001691430 QNTA:WarrantsMember 2018-12-31 0001691430 us-gaap:AccountingStandardsUpdate201602Member 2019-01-02 0001691430 QNTA:NoVendorMember QNTA:ConcentrationAccountsPayableMember 2019-01-01 2019-12-31 0001691430 2019-01-21 2019-01-22 0001691430 us-gaap:PrivatePlacementMember 2019-01-01 2019-12-31 0001691430 us-gaap:PrivatePlacementMember 2019-12-31 0001691430 QNTA:WarrantsMember 2019-01-01 2019-12-31 0001691430 QNTA:FreightSolutionMember 2018-06-06 0001691430 2020-04-03 0001691430 QNTA:ConsultantMember 2019-01-01 2019-12-31 0001691430 us-gaap:RestrictedStockMember 2019-01-01 2019-12-31 0001691430 us-gaap:RestrictedStockMember 2019-12-31 0001691430 QNTA:PatentedTechnologyDevelopedMember 2019-01-01 2019-12-31 0001691430 QNTA:PatentedTechnologyDevelopedMember 2019-12-31 0001691430 QNTA:PatentedTechnologyDevelopedMember us-gaap:IndividualMember 2019-01-01 2019-12-31 0001691430 QNTA:DistributorLicenseFeesMember 2019-01-01 2019-12-31 0001691430 2019-06-28 0001691430 2018-03-31 0001691430 us-gaap:RestrictedStockMember 2019-05-19 2019-05-20 0001691430 QNTA:PerQuarterMember us-gaap:RestrictedStockMember 2019-05-19 2019-05-20 0001691430 QNTA:StockOptionsMember 2019-12-31 0001691430 QNTA:StockOptionsMember 2019-01-01 2019-12-31 0001691430 QNTA:StockOptionsMember srt:MinimumMember 2019-12-31 0001691430 QNTA:StockOptionsMember srt:MaximumMember 2019-12-31 0001691430 QNTA:StockOptionsMember srt:MinimumMember 2019-01-01 2019-12-31 0001691430 QNTA:StockOptionsMember srt:MaximumMember 2019-01-01 2019-12-31 0001691430 QNTA:StockOptionsMember 2019-01-01 2019-12-31 0001691430 us-gaap:ConvertibleNotesPayableMember 2019-01-01 2019-12-31 0001691430 QNTA:NoCustomerMember us-gaap:SalesRevenueNetMember 2019-01-01 2019-12-31 0001691430 QNTA:NoCustomerMember us-gaap:SalesRevenueNetMember 2018-04-01 2018-12-31 0001691430 QNTA:DistributorLicenseFeesMember 2018-04-01 2018-12-31 0001691430 us-gaap:TechnologyEquipmentMember 2019-12-31 0001691430 QNTA:MachineryTechnologyEquipmentUnderConstructionMember 2019-12-31 0001691430 QNTA:NotePayableOneMember 2019-12-31 0001691430 QNTA:NotePayableTwoMember 2019-12-31 0001691430 QNTA:NotePayableOneMember 2019-01-01 2019-12-31 0001691430 QNTA:NotePayableTwoMember 2019-01-01 2019-12-31 0001691430 QNTA:TwoConvertibleNotesPayableMember 2019-10-01 2019-10-31 0001691430 QNTA:TwoConvertibleNotesPayableMember 2019-10-31 0001691430 QNTA:OneConvertibleNotesPayableMember QNTA:NonReturnableSharesMember 2019-01-01 2019-12-31 0001691430 QNTA:TwoConvertibleNotesPayableMember 2019-12-31 0001691430 srt:MinimumMember 2019-12-31 0001691430 srt:MaximumMember 2019-12-31 0001691430 QNTA:NoteMember 2019-12-31 0001691430 us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-12-31 0001691430 us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-10-31 0001691430 us-gaap:MeasurementInputPriceVolatilityMember 2019-12-31 0001691430 us-gaap:MeasurementInputPriceVolatilityMember 2019-10-31 0001691430 us-gaap:MeasurementInputExpectedTermMember 2019-01-01 2019-12-31 0001691430 us-gaap:MeasurementInputExpectedTermMember 2018-10-01 2018-10-31 0001691430 us-gaap:MeasurementInputExpectedDividendRateMember 2019-12-31 0001691430 us-gaap:MeasurementInputExpectedDividendRateMember 2019-10-31 0001691430 2019-10-31 0001691430 us-gaap:ForeignCountryMember 2019-01-01 2019-12-31 0001691430 us-gaap:StateAndLocalJurisdictionMember 2019-01-01 2019-12-31 0001691430 us-gaap:PrivatePlacementMember srt:MinimumMember 2019-12-31 0001691430 us-gaap:PrivatePlacementMember srt:MaximumMember 2019-12-31 0001691430 QNTA:ThroughDecemberTwoThousandNineteenMember 2019-01-01 2019-12-31 0001691430 QNTA:SaleOfProductsNetMember 2019-01-01 2019-12-31 0001691430 QNTA:SaleOfProductsNetMember 2018-04-01 2018-12-31 0001691430 QNTA:LicenseRevenueMember 2019-01-01 2019-12-31 0001691430 QNTA:LicenseRevenueMember 2018-04-01 2018-12-31 0001691430 us-gaap:SubsequentEventMember 2020-01-01 2020-03-30 0001691430 us-gaap:SubsequentEventMember 2020-03-30 0001691430 us-gaap:SubsequentEventMember QNTA:OneUnsecuredConvertiblePromissoryNoteMember 2020-02-01 2020-02-29 0001691430 us-gaap:SubsequentEventMember QNTA:OneUnsecuredConvertiblePromissoryNoteMember 2020-02-29 0001691430 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2020-02-29 0001691430 QNTA:DirectToConsumerMember 2019-01-01 2019-12-31 0001691430 QNTA:WholesaleMember 2019-01-01 2019-12-31 0001691430 QNTA:LicenseRevenueMember 2019-01-01 2019-12-31 0001691430 QNTA:DirectToConsumerMember 2018-04-01 2018-12-31 0001691430 QNTA:WholesaleMember 2018-04-01 2018-12-31 0001691430 QNTA:LicenseRevenueMember 2018-04-01 2018-12-31 0001691430 country:CA 2019-01-01 2019-12-31 0001691430 country:CA 2018-04-01 2018-12-31 0001691430 QNTA:OtherStatesMember 2019-01-01 2019-12-31 0001691430 QNTA:OtherStatesMember 2018-04-01 2018-12-31 0001691430 QNTA:InternationalMember 2019-01-01 2019-12-31 0001691430 QNTA:InternationalMember 2018-04-01 2018-12-31 0001691430 QNTA:TwoConvertibleNotesPayableMember 2019-01-01 2019-12-31 0001691430 QNTA:ConvertibleNoteOneMember 2019-01-01 2019-12-31 0001691430 QNTA:ConvertibleNoteOneMember 2019-12-31 0001691430 QNTA:ConvertibleNoteOneMember srt:MinimumMember 2019-01-01 2019-12-31 0001691430 QNTA:ConvertibleNoteOneMember srt:MaximumMember 2019-01-01 2019-12-31 0001691430 QNTA:TwoConvertibleNotesPayableMember 2018-04-01 2018-12-31 0001691430 QNTA:ConvertibleNoteTwoMember 2019-01-01 2019-12-31 0001691430 QNTA:ConvertibleNoteTwoMember 2019-12-31 0001691430 QNTA:ConvertibleNoteTwoMember 2018-04-01 2018-12-31 0001691430 us-gaap:CommonStockMember 2018-04-01 2018-12-31 0001691430 us-gaap:CommonStockMember 2018-03-31 0001691430 us-gaap:CommonStockMember 2018-12-31 0001691430 us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-12-31 0001691430 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001691430 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001691430 QNTA:SharesToBeIssuedMember 2018-12-31 0001691430 QNTA:SharesToBeIssuedMember 2018-04-01 2018-12-31 0001691430 QNTA:SharesToBeIssuedMember 2018-03-31 0001691430 us-gaap:RetainedEarningsMember 2018-12-31 0001691430 us-gaap:RetainedEarningsMember 2018-04-01 2018-12-31 0001691430 us-gaap:RetainedEarningsMember 2018-03-31 0001691430 us-gaap:CommonStockMember 2019-01-01 2019-12-31 0001691430 us-gaap:CommonStockMember 2019-12-31 0001691430 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-12-31 0001691430 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001691430 QNTA:SharesToBeIssuedMember 2019-01-01 2019-12-31 0001691430 QNTA:SharesToBeIssuedMember 2019-12-31 0001691430 us-gaap:RetainedEarningsMember 2019-01-01 2019-12-31 0001691430 us-gaap:RetainedEarningsMember 2019-12-31 0001691430 QNTA:NonCancelableRealPropertyLeaseAgreementMember 2019-12-19 0001691430 QNTA:NonCancelableRealPropertyLeaseAgreementMember 2019-12-18 2019-12-19 0001691430 QNTA:NonCancelableRealPropertyLeaseAgreementMember srt:MinimumMember 2019-12-18 2019-12-19 0001691430 QNTA:NonCancelableRealPropertyLeaseAgreementMember srt:MaximumMember 2019-12-18 2019-12-19 0001691430 QNTA:CustomerOneMember us-gaap:AccountsReceivableMember 2019-01-01 2019-12-31 0001691430 QNTA:CustomerTwoMember us-gaap:AccountsReceivableMember 2019-01-01 2019-12-31 0001691430 QNTA:NoOtherCustomerMember us-gaap:AccountsReceivableMember 2019-01-01 2019-12-31 0001691430 QNTA:NoOtherCustomerMember us-gaap:AccountsReceivableMember 2018-01-01 2018-12-31 0001691430 us-gaap:SubsequentEventMember QNTA:EmployeesMember 2020-03-01 2020-03-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure QNTA:Segments QNTA:Integer utr:sqft QUANTA INC 0001691430 10-K 2019-12-31 false false Non-accelerated Filer 2019 55322712 --12-31 35820 433143 FY 55381 591422 445031 1271532 16770 33652 16883 9617 73598 39200 49087 2360598 5619733 -2450384 -8237748 255414 278940 -826412 21909 39200 -11909 2360598 306000 -2450384 -836412 49087 5619733 2847868 -8237748 445031 1271532 0.001 0.001 0.001 0.001 25000000 25000000 100000000 100000000 39200090 49087255 39200090 49087255 225254 1268988 100000 31788 1237200 225254 31788 443916 793284 31788 766469 477139 25380 67806 156974 157448 68280 183681 303720 41573 965268 1055805 4799030 207600 351670 1717584 6453091 -1676011 -5487823 62039 -299541 -1613972 -5787364 -1613972 -5787364 -0.05 -0.14 35100108 42808603 -1028501 -2221320 175000 114500 -191770 -131382 1210258 2750025 1600 800 15080 612000 7318519 189617 705331 306000 2847868 372880 313478 19561 28260 180000 55850 80000 100000 55850 9617 63981 19561 8699 226239 true true 332980 420112 430000 85662 420112 35470 251791 992592 32742 87132 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The components of lease expense and supplemental cash flow information related to leases for the period are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year ended</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31, 2019</b></p></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif"><u>Lease Cost</u></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 77%"><font style="font: 10pt Times New Roman, Times, Serif">Operating lease cost (included in&#160;selling,&#160;general,&#160;and&#160;administrative expense&#160;in the Company&#8217;s statement of operations)</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 19%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">107,588</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif"><u>Other Information</u></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Cash paid for amounts included in the measurement of lease liabilities for 2019</font></td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">98,375</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Weighted average remaining lease term &#8211; operating leases (in years)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.5</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Average discount rate &#8211; operating leases</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="margin: 0pt"></p> 12011269 6500000 6942750 6500090 6330750 306000 530000 30000 30000 0.20 0.23 0.38 3000000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The supplemental balance sheet information related to leases for the period is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>At December 31, 2019</b></font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif"><u>Operating leases</u></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 77%"><font style="font: 10pt Times New Roman, Times, Serif">Long-term right-of-use assets</font></td> <td style="width: 2%">&#160;</td> <td style="border-bottom: black 2.25pt double; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; width: 19%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">332,980</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Short-term operating lease liabilities</font></td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">85,662</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Long-term operating lease liabilities</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">251,791</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total operating lease liabilities</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">337,453</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Maturities of the Company&#8217;s lease liabilities are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Year Ending</b></font></td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Operating Leases</b></font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 77%"><font style="font: 10pt Times New Roman, Times, Serif">2020</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 19%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">97,625</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">2021</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">102,506</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">2022</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">107,632</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">2023</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">55,126</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Total lease payments</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">362,889</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Less: Imputed interest/present value discount</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(25,436</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 20pt"><font style="font: 10pt Times New Roman, Times, Serif">Present value of lease liabilities</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">337,453</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt"><font style="font: 10pt Times New Roman, Times, Serif">Less current portion</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(85,662</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 20pt"><font style="font: 10pt Times New Roman, Times, Serif">Operating lease liabilities, long-term</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">251,791</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of warrant activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Number of warrants</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Weighted Average<br /> Exercise Price</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Contractual<br /> Life in Years</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants Outstanding and Exercisable as of March 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 55%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 12%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,000,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.30</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.00</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants Outstanding and Exercisable as of December 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,000,000</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.30</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.00</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,000,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.30</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants Outstanding and Exercisable as of December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> Yes Yes false 39 37 41000 1300018 2090375 2090375 6500 1293518 6331 2084044 194030 2424121 106253 520 193510 213 106040 2317868 241000 306000 530000 1015000 -10013 397323 35820 433143 45833 376510 1300018 2090375 2926375 124150 495760 100000 153000 326800 1800000 P2Y3M19D P2Y9M18D 3290000 3290000 1490000 3000000 -194030 -2424121 55850 16770 16882 0.083 0.10 0.083 0.10 0.22 0.12 2019-01-13 2019-01-06 2019-01-13 2019-01-06 2020-08-31 2020-04-29 0.39 No No 41203885 122519 7500 57340 400139 326800 224660 454179 1302391 238395 238395 212505 520150 212505 28000 122519 711404 7500 8000000 8000000 2250000 2250000 1000000 625000 1,000,000 shares vested immediately, and the balance of 7,000,000 shares will vest 625,000 shares per quarter over 2.8 years. 4000000 2317868 711404 1628132 468000 0.23 0.23 P4Y P6Y P10Y 1179000 1.70 2.13 2.18 P4Y P5Y P7Y 0.00 0.00 0.0176 0.0177 322749 0.23 3000000 0.30 Expire in 2022 377000 3000000 5750000 4000000 1682132 0.25 35000 343300 8000000 P0Y P0Y P0Y P6Y P0Y P0Y P0Y P0Y P0Y P5Y9M18D 3290000 1800000 0.23 0.30 0.30 0.30 P0Y P4Y P4Y P0Y P0Y P0Y P0Y P0Y P4Y P0Y 21908810 0.23 113909 3000000 8000000 3290000 889469 27529 103401 400139 565195 565195 565195 0.10 0.10 0.10 0.19 0.12 0.10 0.10 1 326800 153000 P3Y 102428 20091 0.33 86875 173902 522500 637000 347500 175000 607000 30000 149620 323522 The Company leases its headquarters office space in Burbank, California under an operating lease that expires on July 31, 2023. 42040 107588 107588 98375 P3Y6M0D 0.04 337453 25436 355000 326800 355000 54990 705000 0.39 0.40 19491 1.77 1.75 222 223 0.00 0.00 P1Y P1Y 2317868 500000 1500000 1600000 4300000 1100000 3100000 Expire on various dates through 2039. Expire through 2036. 160000 1039000 94000 67000 425000 1132000 585000 2332000 45000 229000 45000 90000 46000 93000 45000 229000 0.21 0.21 0.07 0.07 -0.28 -0.28 0.00 0.00 125000000 0.10 0.50 5068519 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 1 &#8211; DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Quanta, Inc (&#8220;the Company&#8221;) was incorporated as Freight Solution, Inc. (&#8220;Freight Solution&#8221;) on April 28, 2016 in the State of Nevada. Effective June 6, 2018, Bioanomaly Inc. (&#8220;Bioanomaly&#8221;) was acquired by Freight Solution pursuant to a merger agreement in which the shareholders of Bioanomaly exchanged all of the outstanding shares of Bioanomaly for 21,908,810 newly issued shares of Freight Solution&#8217;s common stock. Freight Solution shareholders retained 6,500,000 shares of common stock, which represented 23% of the issued and outstanding stock following the merger. The acquisition was accounted for as a reverse merger transaction. In connection with the closing of the merger, Freight Solution&#8217;s management was replaced by Bioanomaly&#8217;s management. On July 11, 2018, the Company changed its name to Quanta, Inc. The Company is an applied science company focused on increasing energy levels in plant matter to increase performance within the human body. The Company&#8217;s operations are based in Burbank, California.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Going Concern</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the year ended December 31, 2019, the Company incurred a net loss of $5,787,364 and used cash in operating activities of $2,221,320, and at December 31, 2019, the Company had a had a working capital deficiency of $113,909. These factors raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year of the date that the financial statements are issued. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2019, the Company had cash on hand in the amount of $433,143. Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and $30,000 for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company&#8217;s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company&#8217;s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basis of presentation and principles of Consolidation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements have been prepared in accordance with accounting standards generally accepted in the United States of America.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2018, the Company its fiscal year end from March 31 to December 31. The transition period covering the nine-month period from April 1, 2018 to December 31, 2018 is included in the accompany consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The consolidated financial statements include the accounts of Quanta Inc, and its wholly-owned subsidiary, Bioanomaly, Inc. All intercompany balances and transactions have been eliminated in consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Use of estimates</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, allowance for doubtful accounts receivable, impairment analysis of long-term assets, valuation allowance on deferred income taxes, assumptions used in valuing stock instruments issued for services, assumptions made in valuing derivative liabilities, and the accrual of potential liabilities. Actual results may differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounts Receivable</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts if deemed necessary, and payments are generally due within thirty to forty-five days of invoicing. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer&#8217;s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. At December 31, 2019 and December 31, 2018, the Company did not record any allowance for uncollectible accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Inventories </u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are stated at the lower of cost or net realizable value. We regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Additionally, our management&#8217;s estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess and obsolete inventory. At December 31, 2019 and 2018, the Company had no reserve for inventory obsolescence.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Equipment</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Equipment is stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the equipment, which is three years, using the straight-line method. Expenditures for major additions and improvements are capitalized and minor repairs and maintenance are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management assesses the carrying value of equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the year ended December 31, 2019 and for the nine-months period ended December 31, 2018, the Company determined there were no indicators of impairment of its property and equipment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Revenue</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows the guidance of Accounting Standards Codification (&#8220;ASC&#8221;) 606, <i>Revenue from Contracts with Customers. </i>ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Product Sales</i>&#8212;Revenue from sales of the Company&#8217;s CBD products is recognized at the point in time when the Company&#8217;s performance obligations with the applicable customers have been satisfied. At contract inception, the Company determines if the contract is within the scope of ASC Topic 606 and then evaluates the contract using the following five steps: (1) identify the contract with the customer; (2) identify the performance obligations; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue at the point in time when the entity satisfies a performance obligation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is recorded at the transaction price, which is the amount of consideration the Company expects to receive in exchange for transferring products to a customer. Generally, the Company&#8217;s performance obligations are transferred to the customer at a point in time, typically upon delivery of products. The Company historically has offered no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company sells its products (i) directly to customers (&#8220;DTC&#8221;) through online orders from our websites, and DTC sales at conventions and events; and (ii) through wholesalers, including physicians, pharmacies, fitness studios, grocery stores, and other organizations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>License revenue</i>&#8212; Revenue from symbolic IP is recognized over the access period to the Company&#8217;s IP (see Note 2).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of goods sold includes direct costs and fees related to the sale of our products.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Disaggregated Revenue</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The composition of the Company&#8217;s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Year ended December 31, 2019</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Nine-months ended December 31, 2018</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt"><b><i>By Sales Channel:</i></b></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 62%"><font style="font-size: 10pt">Direct to consumer</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 16%; text-align: right"><font style="font-size: 10pt">443,916</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 16%; text-align: right"><font style="font-size: 10pt">67,806</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Wholesale</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">793,284</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">157,448</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">License Revenue</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">31,788</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">1,268,988</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">225,254</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt"><b><i>By Geographic Territory:</i></b></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">California</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">766,469</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">156,974</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Other states</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">477,139</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">68,280</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">International</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">25,380</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">1,268,988</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">225,254</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Leases</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standard in effect for those periods. The adoption of ASC 842 on January 1, 2019 resulted in the recognition of operating lease right-of-use assets and lease liabilities of $420,112 and did not result in a cumulative-effect adjustment to accumulated deficit (see Note 5).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Derivative Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments at inception and on subsequent valuation dates through the December 31, 2019, reporting date. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Income taxes</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Stock Compensation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company issues stock options, warrants, shares of common stock, and restricted stock unit awards, as share-based compensation to employees and non-employees. The Company accounts for its share-based compensation to employees in accordance with FASB ASC 718, <i>Compensation &#8211; Stock Compensation </i>(Topic 718). Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite service period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In periods through December 31, 2018, the Company accounted for share-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, <i>Equity - Based Payments to Non-Employees</i>. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The final fair value of the share-based payment transaction is determined at the performance completion date. For interim periods, the fair value is estimated, and the percentage of completion is applied to that estimate to determine the cumulative expense recorded.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2019, the Company adopted ASU 2018-07, <i>Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting</i>. ASU 2018-07 simplifies the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. The adoption of ASU 2018-07 did not have a material impact on the Company&#8217;s financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Advertising costs</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Advertising costs are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, advertising costs totaled $103,401 and $27,529, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Research and Development Costs</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs incurred for research and development are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, research and development costs totaled $351,670 and 207,600, respectively and include salaries, benefits, and overhead costs of personnel conducting research and development of the Company&#8217;s products.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Net Loss per Share</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Shares used in the calculation of basic net loss per common share include vested but unissued shares underlying awards of restricted common stock. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding warrants and convertible notes are exercised and the proceeds are used to purchase common stock at the average market price during the period. Warrants and convertible notes may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2019, the dilutive impact of stock options exercisable into 3,290,000 shares of common stock, 8,000,000 shares of restricted stock to be issued, and convertible notes payable that can convert into 889,469 shares of common stock have been excluded from calculation of weighted average shares because their impact on the loss per share is anti-dilutive. For the year ended December 31, 2019, the dilutive impact of stock warrants exercisable into 3,000,000 shares of common stock have been excluded because their impact on the loss per share is anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Fair Value of Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows the authoritative guidance issued by the Financial Accounting Standards Board (&#8220;FASB&#8221;) for fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1&#8212;Quoted prices in active markets for identical assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2&#8212;Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3&#8212;Unobservable inputs based on the Company&#8217;s assumptions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is required to use of observable market data if such data is available without undue cost and effort.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company believes the carrying amount reported in the balance sheet for cash, accounts receivable, accounts payable and accrued liabilities, and notes payable, approximate their fair values because of the short-term nature of these financial instruments</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, the Company&#8217;s balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $400,139 (see Note 8).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Concentrations of risks</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, no customer accounted for 10% or more of revenue. As of December 31, 2019, two customers accounted for 19% and 12% of accounts receivable, respectively, and no other customer accounted for 10% or more of accounts receivable. As of December 31, 2018, no customer accounted for more than 10% of accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, for the same periods, no vendor accounted for 10% or more of the Company&#8217;s cost of goods sold, or accounts payable at period-end.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company maintains the majority of its cash balances with one financial institution, in the form of demand deposits that are insured by the Federal Deposit Insurance Corporation, or FDIC. At times, deposits held may exceed the amount of insurance provided by the FDIC. The Company has not experienced any losses in its cash and believes it is not exposed to any significant credit risk.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><u>Segments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company operates in one segment for the development and distribution of our CBD products. In accordance with the &#8220;<i>Segment Reporting</i>&#8221; Topic of the ASC, the Company&#8217;s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under &#8220;Segment Reporting&#8221; due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. Since the Company operates in one segment, all financial information required by &#8220;Segment Reporting&#8221; can be found in the accompanying financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Recent Accounting Pronouncements</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (&#8220;ASC 326&#8221;). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today&#8217;s &#8220;incurred loss&#8221; approach with an &#8220;expected loss&#8221; model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard&#8217;s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The Company is currently assessing the impact of adopting this standard on the Company&#8217;s financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company&#8217;s present or future consolidated financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 2&#160;&#8211; LICENSE&#160;AGREEMENT</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective January 22, 2019, the Company entered into an agreement with&#160;a wholesaler&#160;for the exclusive rights to distribute the Company&#8217;s products in the state of Colorado for three years. In consideration, the Company received an up-front payment of $100,000. The Company determined that the exclusive distribution agreement was a distinct agreement for the license of symbolic IP and thus should be recognized on a straight-line basis over the three-year life of the agreement. For the year ended December 31, 2019, the Company recognized revenue related to this agreement of $31,788. For the nine month period ended December 31, 2018, no distribution fee revenue was recorded.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 3 &#8211; INVENTORIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are valued at the lower of cost (first-in, first-out) or net realizable value, and consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Raw materials and packaging</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">102,428</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Finished goods</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,091</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">122,519</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 4 - EQUIPMENT</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Equipment, stated at cost, less accumulated depreciation consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Machinery-technology equipment</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">607,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">347,500</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Machinery-technology equipment under construction</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">175,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">637,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">522,500</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Less accumulated depreciation</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(323,522</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(149,620</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">313,478</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">372,880</font></td> <td>&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation expense for the year ended December 31, 2019 and transition period ended December 31, 2018 was $173,903 and $185,835, respectively. As of December 31, 2019, the equipment under construction is approximately 33% complete, and is expected to be completed and placed into service during the year ended December 31, 2020.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 5 - OPERATING LEASE</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company leases its headquarters office space in Burbank, California under an operating lease that expires on July 31, 2023. At December 31, 2019, the Company did not have any other leases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating lease right-of-use (&#8220;ROU&#8221;) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally the implicit rate of interest in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company&#8217;s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases (&#8220;ASC 842&#8221;), which requires an entity to recognize a right-of-use asset and a lease liability for certain leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. The adoption of ASC 842 on January 1, 2019, resulted in the recognition of operating lease right-of-use assets of $420,112 and corresponding lease liabilities of approximately the same amount. There was no cumulative-effect adjustment to accumulated deficit. As of December 31, 2019, the unamortized right of use asset was $332,980 and total lease liabilities were $337,453, of which $85,662 was current.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The components of lease expense and supplemental cash flow information related to leases for the period are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year ended</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31, 2019</b></p></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt"><u>Lease Cost</u></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 77%"><font style="font-size: 10pt">Operating lease cost (included in selling, general, and administrative expense in the Company&#8217;s statement of operations)</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 20%; text-align: right"><font style="font-size: 10pt">107,588</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt"><u>Other Information</u></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Cash paid for amounts included in the measurement of lease liabilities for 2019</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">98,375</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Weighted average remaining lease term &#8211; operating leases (in years)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">3.5</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Average discount rate &#8211; operating leases</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">4</font></td> <td><font style="font-size: 10pt">%</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The supplemental balance sheet information related to leases for the period is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>At December 31, 2019</b></font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt"><u>Operating leases</u></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 77%; padding-bottom: 2.5pt"><font style="font-size: 10pt">Long-term right-of-use assets</font></td> <td style="width: 1%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; width: 1%"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; width: 20%; text-align: right"><font style="font-size: 10pt">332,980</font></td> <td style="width: 1%; padding-bottom: 2.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Short-term operating lease liabilities</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">85,662</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Long-term operating lease liabilities</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">251,791</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Total operating lease liabilities</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">337,453</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Maturities of the Company&#8217;s lease liabilities are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid"><font style="font-size: 10pt"><b>Year Ending</b></font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Operating Leases</b></font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 77%"><font style="font-size: 10pt">2020</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 20%; text-align: right"><font style="font-size: 10pt">97,625</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">2021</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">102,506</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">2022</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">107,632</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">2023</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">55,126</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Total lease payments</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">362,889</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt; padding-left: 10pt"><font style="font-size: 10pt">Less: Imputed interest/present value discount</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(25,436</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 20pt"><font style="font-size: 10pt">Present value of lease liabilities</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">337,453</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt; padding-left: 20pt"><font style="font-size: 10pt">Less current portion</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(85,662</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt; padding-left: 20pt"><font style="font-size: 10pt">Operating lease liabilities, long-term</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">251,791</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Lease expense were $107,588 and $42,040 during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subsequent to December 31, 2019, the Company commenced leasing a second facility in addition to its headquarters facility described above (See Note 13).</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 6 &#8211; NOTES PAYABLE</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Note payable,&#160;in default,&#160;due January 13, 2019, interest at 8.3% per annum, secured by all the assets of the Company. As of the date of the financial statements, the note has not been fully paid, and the Company is in negotiations with the lender to cure this default.</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 18%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">55,850</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 17%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,000</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Note payable, unsecured, due January 6, 2019, interest at 10% per year. The note was paid off in 2019.</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">100,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total notes payable (all current portion)</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">55,850</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">180,000</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 7 &#8211; CONVERTIBLE NOTES PAYABLE</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">At December 31, 2018, there was no balance of convertible notes payable. During 2019, the Company issued two convertible promissory notes for the principal sum of $355,000, of which $326,800 was received as proceeds, and $28,200 was recorded as original issue discount (OID). During 2019, one convertible note for $73,000 was repaid. At December 31, 2019, one convertible note for $282,000 was outstanding. The outstanding note is unsecured, bears interest at 12%, and is due April 29, 2020.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">At the option of the holders, the notes issued in 2019 are convertible into shares of the Company&#8217;s common stock at a price per share discount of 39% to 40% of the average market price of the Company&#8217;s common stock, as defined. As a result, the Company determined that the conversion option of the convertible notes were not considered indexed to the Company&#8217;s own stock and characterized the fair value of the conversion features as derivative liabilities upon issuance. The Company determined that upon issuance of the convertible notes in October 2019, the initial fair value of the embedded conversion features totaled $565,195 (see Note 8), of which $326,800 was recorded as debt discount offsetting the face amount of the convertible notes, and the remainder of $238,395 was recorded as private placement costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">At December 31, 2018, there was no balance of discount on convertible notes payable. During 2019, note discount of $355,000 was recorded, made up of $28,200 OID and $326,800 of discount related to derivative liabilities. In addition, $54,990 of loan costs recorded on one convertible note (see below) are included with the discount. The discount and loan costs are amortized over the term of the related note payable. During 2019, total debt discount and loan costs amortization was $185,330, and at December 31, 2019, the unamortized debt discount and loan fee totaled $224,660.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">In connection with the issuance of one convertible note with the principal balance of $282,000, the Company issued as a commitment fee 141,000 shares of its common stock (the &#8220;Non-Returnable Shares&#8221;) as well as 705,000 shares of its common stock (the &#8220;Returnable Shares&#8221;). The Company recorded the fair value of the Non-Returnable fees of $54,990 as a loan cost. The Returnable Shares are an own-share lending arrangement issued in contemplation of a debt offering and such shares will be returned to the Company if no event of default has occurred prior to April 29, 2020, the maturity date of the note. At issuance, the fair value of the share lending arrangement was determined to be immaterial. In accordance with ASC 470-20, the shares are not deemed issued until it becomes more likely than not that they will not be returned and at such point the shares should be measured at fair value and such value recognized as a financing cost. At December 31, 2019, management determined that it is probable that the Company will pay the note in full when due, and meet all other conditions in the note agreement. Accordingly, management feels that it is more likely than not that the returnable shares will be returned to the Company and therefore the 705,000 Returnable Shares have not been recorded as being issued as of December 31, 2019, nor are they included in basic net loss per share or as potentially dilutive shares in calculating the diluted net loss per share.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 8 &#8211; DERIVATIVE FINANCIAL INSTRUMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2019, the Company had convertible promissory notes outstanding that are convertible into shares of common stock of the Company at the option of the holder at price per share discounts ranging from 39% to 40% of the Company&#8217;s common stock market price, as defined in the note agreements. As the ultimate determination of shares to be issued upon conversion of these notes could exceed the current number of available authorized shares, the Company determined that the conversion features of the convertible notes were not considered indexed to the Company&#8217;s own stock and characterized the fair value of the conversion features as derivative liabilities. Accordingly, the conversion features of the notes were separated from the host contracts (i.e. the notes) and characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2018, there was no balance of derivative liabilities. During the year ended December 31, 2019, the Company recorded additions of $565,195 related to the conversion features of notes issued during the period (see Note&#160;7),&#160;and a decrease in fair value of derivatives of ($19,491). In addition, the Company recorded a decrease in derivative liability of ($145,565) related to derivative liabilities that were extinguished when the related convertible note payable was paid off (see Note 7). At December 31, 2019, the balance of the derivative liabilities was $400,139.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The derivative liabilities were valued at the following dates using a probability weighted Black-Scholes-Merton model with the following assumptions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; padding-right: 0.9pt; padding-left: 0.9pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31, 2019</b></font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>October 2019<br /> (dates of inception)</b></font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion feature:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 54%; padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-free interest rate</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 18%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.77</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 20%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.75</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected volatility</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">222</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">223</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected life (in years)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1 year</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1 year</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected dividend yield</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair Value:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion feature</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">400,139</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">565,195</font></td> <td>&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The risk-free interest rate was based on rates established by the Federal Reserve Bank. The expected volatility is based on the historical volatility of the Company&#8217;s stock. The expected life of the conversion feature of the notes was based on the remaining terms of the related notes. The expected dividend yield was based on the fact that the Company has not customarily paid dividends to its common stockholders in the past and does not expect to pay dividends to its common stockholders in the future.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 9 &#8211; INCOME TAXES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had no income tax expense for the year ended December 31, 2019&#160;and the nine-month period ended December 31, 2018.&#160;The following is a reconciliation of the statutory federal income tax rate to the Company&#8217;s effective tax rate:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Year&#160;ended<br /> December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Nine-months&#160;ended<br /> December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Federal tax at statutory rate</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">21.0</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">21.0</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">State tax, net of federal benefit</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7.0</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7.0</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(28.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(28.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Effective income tax rate</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets and liabilities consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Deferred tax assets:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Stock-based compensation</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,039,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">160,000</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Operating lease liability</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Derivative expenses</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Net operating loss carryforwards</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,132,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">425,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Gross deferred tax assets</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,332,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">585,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Less: valuation allowance</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,103,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(540,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total deferred tax assets</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">229,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Deferred tax liabilities:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Depreciation</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">90,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Derivative gain</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">46,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Operating lease right-of-use asset</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">93,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total deferred tax liabilities</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">229,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Net deferred tax asset (liability)</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The provisions of ASC Topic 740, Accounting for Income Taxes, require an assessment of both positive and negative evidence when determining whether it is more likely than not that deferred tax assets are recoverable. For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, based on all available objective evidence, including the existence of cumulative losses, the Company determined that it was more likely than not that the net deferred tax assets were not fully realizable. Accordingly, the Company established a full valuation allowance against its net deferred tax assets. The Company intends to maintain a full valuation allowance on net deferred tax assets until sufficient positive evidence exists to support reversal of the valuation allowance. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, the valuation allowance increased by $1.5 million and $0.5 million, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2019 and 2018, the Company had available Federal and state net operating loss carryforwards (&#8220;NOL&#8221;s) to reduce future taxable income. For Federal purposes the amounts available were approximately $4.3 million and $1.6 million, respectively. For state purposes approximately $3.1 million and $1.1 was available at December 31, 2019 and 2018, respectively. The Federal carryforwards expire on various dates through 2039 and the state carryforwards expire through 2036. Due to restrictions imposed by Internal Revenue Code Section 382 regarding substantial changes in ownership of companies with loss carryforwards, the utilization of the Company&#8217;s NOL may be limited as a result of changes in stock ownership. NOLs incurred subsequent to the latest change in control are not subject to the limitation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s operations are based in California and it is subject to Federal and California state income tax. Tax years after&#160;2015&#160;are open to examination by United States and state tax authorities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company adopted the provisions of ASC 740, which requires companies to determine whether it is &#8220;more likely than not&#8221; that a tax position will be sustained upon examination by the appropriate taxing authorities before any tax benefit can be recorded in the financial statements. ASC 740 also provides guidance on the recognition, measurement, classification and interest and penalties related to uncertain tax positions.&#160;As of December 31, 2019 and December 31, 2018, no liability for unrecognized tax benefits was required to be recorded&#160;or disclosed.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 10 &#8211; STOCKHOLDERS&#8217; EQUITY</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s authorized capital consists of 125,000,000 shares, of which 100,000,000 shares are designated as shares of common stock, par value $0.001 per share, and 25,000,000 shares are designated as shares of preferred stock, par value $0.001 per share. No shares of preferred stock are currently outstanding. Shares of preferred stock may be issued in one or more series, each series to be appropriately designated by a distinguishing letter or title, prior to the issuance of any shares thereof. The voting powers, designations, preferences, limitations, restrictions, relative, participating, options and other rights, and the qualifications, limitations, or restrictions thereof, of the preferred stock are to be determined by the Board of Directors before the issuance of any shares of preferred stock in such series.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Common stock issued for cash</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2019 and&#160;the nine-month period ended December 31,&#160;2018, the Company completed a private placements of shares at prices ranging from $.10 to $0.50 per share. A total of $2,926,375 was received, including&#160;$2,090,375 in 2019 for shares issued in 2019, $530,000 in 2019 for shares subscribed, and&#160;$306,000&#160;in 2018 for shares issued in 2019.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company agreed to issue a total&#160;12,011,269&#160;shares&#160;in the private placements,&#160;of which&#160;6,942,750&#160;shares were issued through December 31, 2019, and 5,068,519 shares are included in shares to be issued on the accompanying financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 11 &#8211; SHARE-BASED PAYMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Restricted common stock</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 20, 2019, the Company agreed to issue 8,000,000 shares of the Company&#8217;s common stock with vesting terms to a consultant for services (see Note 12). 1,000,000 shares vested immediately, and the balance of 7,000,000 shares will vest 625,000 shares per quarter over 2.8 years. In the event the consultants service with the Company terminates, any or all of the shares of common stock held by such recipient that have not vested as of the date of termination are forfeited to the Company in accordance with such restricted grant agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The total fair value of the 8,000,000 shares was determined to be $4,000,000 based on the price per shares of a contemporaneous private placement of the Company&#8217;s common stock on the date granted. The Company accounts for the share awards using a graded vesting attribution method over the requisite service period, as if each tranche were a separate award. During the year ended December 31, 2019, total share-based expense recognized related to vested restricted shares totaled $2,317,868. At December 31, 2019, there was $1,628,132 of unvested compensation related to these awards that will be amortized over a remaining vesting period of 2.3 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes restricted common stock activity for the year ended December 31, 2019:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Number of shares</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Fair value of shares</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Non-vested shares, January 1, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 61%; padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,000,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,000,000</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Vested</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,250,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,317,868</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Forfeited</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Non-vested shares, December 31, 2019</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,750,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,682,132</font></td> <td>&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, no shares have been issued and 2,250,000 vested shares are included in shares to be issued on the accompanying financial statements</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Common stock issued for services</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2019, the Company issued 212,505 shares of common stock to a consultant for services rendered. The shares were valued at $106,253 based on the price per share of a contemporaneous private placement of the Company&#8217;s common stock on the date granted and included in selling, general, and administrative expense on the accompanying financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Stock Options</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2019, the Company issued options exercisable into 3,290,000 shares of common stock. 1,800,000 options vested immediately, and the balance of 1,490,000 options vest over various periods up to four years. The options have an exercise price of $0.23 per share, and expire in ten years. Total fair value of these options at grant date was approximately $1,179,000, which was determined using the Black-Scholes-Merton option pricing model with the following average assumption: stock price ranging from $0.23 to $0.38 per share, expected term ranging from five to seven years, volatility ranging from 213% to 218%, dividend rate of 0% and risk-free interest rate of 1.77%. During the year ended December 31, 2019, the Company recognized $711,404 of compensation expense relating to vested stock options. As of December 31, 2019, the amount of unvested compensation related to stock options was approximately $468,000 which will be recorded as an expense in future periods as the options vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company&#8217;s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of stock option activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Number of warrants</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Weighted Average<br /> Exercise Price</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Contractual<br /> Life in Years</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Outstanding and Exercisable as of March 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Outstanding and Exercisable as of December 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 55%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 12%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,290,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.23</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6.0</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Outstanding as of December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,290,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.23</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6.0</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Exercisable as of December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,800,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.23</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5.8</font></td> <td>&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2019, the aggregate intrinsic value&#160;of the stock options&#160;was $322,749.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Stock Warrants</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2018, the Company issued warrants exercisable into 3,000,000 shares of common stock. The warrants were fully vested when issued, have an exercise price of $0.30 per share, and expire in 2022. Total fair value of these warrants at grant date was approximately $377,000, which was determined using the Black-Scholes-Merton option pricing model with the following average assumption: stock price of $0.20 per share, expected term of four years, volatility of 170%, dividend rate of 0% and risk-free interest rate of 1.76%. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company&#8217;s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future. During the year ended December 31, 2019, there was a cashless exercise of all of the 3,000,000 warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of warrant activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Number of warrants</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Weighted Average<br /> Exercise Price</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Contractual<br /> Life in Years</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants Outstanding and Exercisable as of March 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 55%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 12%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,000,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.30</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.00</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants Outstanding and Exercisable as of December 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,000,000</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.30</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.00</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,000,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.30</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants Outstanding and Exercisable as of December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 12 &#8211; COMMITMENTS AND CONTINGENCIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has an agreement with an individual in consideration of the Company&#8217;s exclusive use of patented technology developed by the individual. Pursuant to the agreement, as amended, the Company shall pay a royalty of 25% of all the net income from the sale of licensed products, as defined with a minimum royalty of $35,000 per month payable in cash or common stock of the Company. In addition, the Company agreed to issue 8,000,000 shares of the Company&#8217;s common stock with vesting terms to the individual (see Note 11). During the year ended December 31, 2019, the Company paid $343,300 to the individual.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 13 &#8211; SUBSEQUENT EVENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2020, the Company issued one unsecured convertible promissory note for $153,000, bearing interest at 22% per annum, and maturing in August 2020. The note is convertible at a 39% discount to the price of the Company&#8217;s common stock, as defined.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2020, the Company received $30,000 for subscriptions for shares of common stock to be issued in a private placement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 19, 2019, the Company entered into a non-cancelable real property lease agreement for approximately 3096 square feet of office, research, and production space in Burbank, California.&#160; The Company took possession of the space in&#160;February 2020.&#160; The lease term is for 60 months with an option to extend the term for an additional five years thereafter. The lease has with the annual fixed rental payments escalating from $7,500 to $8,441 during the original term. The aggregate total fixed rent is approximately $478,000 and will result in the recognition of an operating lease right-of-use asset of approximately $430,000 and corresponding lease liabilities of approximately the same amount. The Company also paid a security deposit of $16,883.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2020, the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, have adversely affected workforces, customers, economies, and financial markets globally, likely leading to an economic downturn. It has also disrupted the normal operations of many businesses. This outbreak could decrease spending, adversely affect demand for our product and harm our business and results of operations. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business or results of operations at this time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2020, the Company issued approximately 241,000 shares of common stock with a fair value of approximately $28,000 to employees for services.&#160;</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Going Concern</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the year ended December 31, 2019, the Company incurred a net loss of&#160;$5,787,364&#160;and used cash in operating activities of&#160;$2,221,320,&#160;and at December 31, 2019, the Company had a had a working capital deficiency of&#160;$113,909.&#160;These factors raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year of the date that the financial statements are issued. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; text-align: justify">At December 31, 2019, the Company had cash on hand in the amount of&#160;$433,143.&#160;Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and&#160;$30,000&#160;for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company&#8217;s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company&#8217;s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Use of estimates</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others,&#160;allowance for doubtful accounts receivable,&#160;impairment analysis of long-term assets, valuation allowance on deferred income taxes, assumptions used in valuing stock instruments issued for services, assumptions made in valuing derivative liabilities, and the accrual of potential liabilities. Actual results may differ from these estimates.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Inventories</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are stated at the lower of cost or&#160;net realizable value.&#160;We regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Additionally, our management&#8217;s estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess and obsolete inventory. At December 31, 2019 and 2018, the Company had no reserve for inventory obsolescence.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Equipment</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Equipment is stated at cost less accumulated depreciation.&#160;Depreciation is provided over the estimated useful lives of the equipment, which is three years, using the straight-line method.&#160;Expenditures for major additions and improvements are capitalized and minor&#160;repairs and&#160;maintenance are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management assesses the carrying value of equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the year ended December 31, 2019 and&#160;for the nine-months period ended&#160;December 31, 2018, the Company determined there were no indicators of impairment of its property and equipment.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Revenue</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The&#160;Company&#160;follows&#160;the guidance of Accounting Standards Codification (&#8220;ASC&#8221;) 606,&#160;<i>Revenue from Contracts with Customers.&#160;</i>ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Product Sales</i>&#8212;Revenue from sales of the Company&#8217;s CBD products is recognized at the point in time when the Company&#8217;s performance obligations with the applicable customers have been satisfied. At contract inception, the Company determines if the contract is within the scope of ASC Topic 606 and then evaluates the contract using the following five steps: (1) identify the contract with the customer; (2) identify the performance obligations; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue at the point in time when the entity satisfies a performance obligation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is recorded at the transaction price, which is the amount of consideration the Company expects to receive in exchange for transferring products to a customer.&#160;Generally, the Company&#8217;s performance obligations are transferred to the customer at a point in time, typically upon delivery of products. The Company historically has offered no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company sells its products (i) directly to customers (&#8220;DTC&#8221;) through online orders from our websites, and DTC sales at conventions and events; and (ii) through wholesalers, including physicians, pharmacies, fitness studios, grocery stores, and other organizations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>License revenue</i>&#8212; Revenue from symbolic IP is recognized over the access period to the Company&#8217;s IP (see Note 2).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of goods sold includes direct costs and fees related to the sale of our products.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Disaggregated Revenue</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The composition of the Company&#8217;s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Year ended December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Nine-months ended December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif"><b><i>By Sales Channel:</i></b></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Direct to consumer</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">443,916</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,806</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Wholesale</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">793,284</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">157,448</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">License Revenue</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">31,788</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,268,988</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">225,254</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif"><b><i>By Geographic Territory:</i></b></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">California</font></td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">766,469</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">156,974</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Other states</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">477,139</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">68,280</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">International</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">25,380</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,268,988</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">225,254</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounts Receivable</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts if deemed necessary, and payments are generally due within thirty to forty-five days of invoicing. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer&#8217;s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. At December 31, 2019 and December 31, 2018, the Company did not record any allowance for uncollectible accounts.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Leases</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standard in effect for those periods. The adoption of ASC 842 on January 1, 2019 resulted in the recognition of operating lease right-of-use assets and lease liabilities of $420,112 and did not result in a cumulative-effect adjustment to accumulated deficit (see Note 5).</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Income taxes</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Stock Compensation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company issues stock options, warrants, shares of common stock,&#160;and restricted stock unit awards,&#160;as share-based compensation to employees and non-employees. The Company accounts for its share-based compensation to employees in accordance with FASB ASC 718,&#160;<i>Compensation &#8211; Stock Compensation&#160;</i>(Topic 718). Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite service period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In periods through December 31, 2018, the Company accounted for share-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50,&#160;<i>Equity - Based Payments to Non-Employees</i>. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The final fair value of the share-based payment transaction is determined at the performance completion date. For interim periods, the fair value is estimated, and the percentage of completion is applied to that estimate to determine the cumulative expense recorded.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2019, the Company adopted ASU 2018-07,&#160;<i>Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting</i>. ASU 2018-07 simplifies the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. The adoption of ASU 2018-07 did not have a material impact on the Company&#8217;s financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Net Loss per Share</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Shares used in the calculation of basic net loss per common share include vested but unissued shares underlying awards of restricted common stock. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding warrants and convertible notes are exercised and the proceeds are used to purchase common stock at the average market price during the period. Warrants and convertible notes may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2019, the dilutive impact of stock options exercisable into 3,290,000 shares of common stock, 8,000,000 shares of restricted stock to be issued, and convertible notes payable that can convert into 889,469 shares of common stock have been excluded from calculation of weighted average shares because their impact on the loss per share is anti-dilutive. For the year ended December 31, 2019, the dilutive impact of stock warrants exercisable into 3,000,000 shares of common stock have been excluded because their impact on the loss per share is anti-dilutive.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Fair Value of Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows the authoritative guidance issued by the Financial Accounting Standards Board (&#8220;FASB&#8221;) for fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1&#8212;Quoted prices in active markets for identical assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2&#8212;Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3&#8212;Unobservable inputs based on the Company&#8217;s assumptions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is required to use of observable market data if such data is available without undue cost and effort.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company believes the carrying amount reported in the balance sheet for cash, accounts receivable, accounts payable and accrued liabilities, and notes payable, approximate their fair values because of the short-term nature of these financial instruments</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, the Company&#8217;s balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $400,139 (see Note 8).</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Concentrations of risks</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, no customer accounted for 10% or more of revenue. As of December 31, 2019, two customers accounted for 19% and 12% of accounts receivable, respectively, and no other customer accounted for 10% or more of accounts receivable. As of December 31, 2018, no customer accounted for more than 10% of accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, for the same periods, no vendor accounted for 10% or more of the Company&#8217;s cost of goods sold, or accounts payable at period-end.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company maintains the majority of its cash balances with one financial institution, in the form of demand deposits that are insured by the Federal Deposit Insurance Corporation, or FDIC. At times, deposits held may exceed the amount of insurance provided by the FDIC. The Company has not experienced any losses in its cash and believes it is not exposed to any significant credit risk.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Derivative Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments at inception and on subsequent valuation dates through the December 31, 2019, reporting date. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Advertising costs</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Advertising costs are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, advertising costs totaled $103,401 and $27,529, respectively.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Research and Development Costs</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs incurred for research and development are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, research and development costs totaled $351,670 and 207,600, respectively and include salaries, benefits, and overhead costs of personnel conducting research and development of the Company&#8217;s products.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><u>Segments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company operates in one segment for the development and distribution of our CBD products. In accordance with the &#8220;<i>Segment Reporting</i>&#8221; Topic of the ASC, the Company&#8217;s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under &#8220;Segment Reporting&#8221; due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. Since the Company operates in one segment, all financial information required by &#8220;Segment Reporting&#8221; can be found in the accompanying financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Recent Accounting Pronouncements</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (&#8220;ASC 326&#8221;). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today&#8217;s &#8220;incurred loss&#8221; approach with an &#8220;expected loss&#8221; model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard&#8217;s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The Company is currently assessing the impact of adopting this standard on the Company&#8217;s financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company&#8217;s present or future consolidated financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are valued at the lower of cost (first-in, first-out) or net realizable value, and consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Raw materials and packaging</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">102,428</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Finished goods</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,091</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">122,519</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Equipment, stated at cost, less accumulated depreciation consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Machinery-technology equipment</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">607,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">347,500</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Machinery-technology equipment under construction</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">175,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">637,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">522,500</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Less accumulated depreciation</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(323,522</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(149,620</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">313,478</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">372,880</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Note payable,&#160;in default,&#160;due January 13, 2019, interest at 8.3% per annum, secured by all the assets of the Company. As of the date of the financial statements, the note has not been fully paid, and the Company is in negotiations with the lender to cure this default.</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 18%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">55,850</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 17%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,000</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Note payable, unsecured, due January 6, 2019, interest at 10% per year. The note was paid off in 2019.</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">100,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total notes payable (all current portion)</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">55,850</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">180,000</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The derivative liabilities were valued at the following dates using a probability weighted Black-Scholes-Merton model with the following assumptions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; padding-right: 0.9pt; padding-left: 0.9pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31, 2019</b></font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>October 2019<br /> (dates of inception)</b></font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion feature:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 54%; padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-free interest rate</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 18%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.77</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 20%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.75</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected volatility</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">222</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">223</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected life (in years)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1 year</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1 year</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected dividend yield</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair Value:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion feature</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">400,139</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">565,195</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is a reconciliation of the statutory federal income tax rate to the Company&#8217;s effective tax rate:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Year&#160;ended<br /> December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Nine-months&#160;ended<br /> December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Federal tax at statutory rate</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">21.0</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">21.0</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">State tax, net of federal benefit</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7.0</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7.0</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(28.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(28.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Effective income tax rate</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes restricted common stock activity for the year ended December 31, 2019:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Number of shares</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Fair value of shares</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Non-vested shares, January 1, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 61%; padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,000,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,000,000</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Vested</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,250,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,317,868</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Forfeited</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Non-vested shares, December 31, 2019</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,750,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,682,132</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of stock option activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Number of warrants</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Weighted Average<br /> Exercise Price</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Contractual<br /> Life in Years</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="text-align: center">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td colspan="2">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Outstanding and Exercisable as of March 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Outstanding and Exercisable as of December 31, 2018</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 55%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 12%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,290,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.23</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6.0</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Outstanding as of December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,290,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.23</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6.0</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Options Exercisable as of December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,800,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.23</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5.8</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> 185330 21000 185330 326800 2590 145565 19491 68212 -82659 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets and liabilities consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Deferred tax assets:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Stock-based compensation</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,039,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">160,000</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Operating lease liability</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Derivative expenses</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Net operating loss carryforwards</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,132,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">425,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Gross deferred tax assets</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,332,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">585,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Less: valuation allowance</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,103,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(540,000</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total deferred tax assets</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">229,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Deferred tax liabilities:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Depreciation</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">90,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Derivative gain</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">46,000</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Operating lease right-of-use asset</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">93,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total deferred tax liabilities</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">229,000</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,000</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Net deferred tax asset (liability)</font></td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basis of presentation&#160;and principles of Consolidation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements have been prepared in accordance with accounting standards generally accepted in the United States of America.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2018, the Company&#160;its&#160;fiscal year end from March 31 to December 31. The transition period&#160;covering the nine-month period from&#160;April 1, 2018 to December 31, 2018 is included in the accompany consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The consolidated financial statements include the accounts of Quanta Inc, and its wholly-owned subsidiary, Bioanomaly, Inc. All intercompany balances and transactions have been eliminated in consolidation.</p> 540000 2103000 73000 73000 3000000 28200 54990 P3Y <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The composition of the Company&#8217;s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Year ended December 31, 2019</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Nine-months ended December 31, 2018</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif"><b><i>By Sales Channel:</i></b></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Direct to consumer</font></td> <td style="width: 2%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">443,916</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,806</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Wholesale</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">793,284</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">157,448</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">License Revenue</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">31,788</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,268,988</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">225,254</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif"><b><i>By Geographic Territory:</i></b></font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">California</font></td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">766,469</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">156,974</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Other states</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">477,139</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">68,280</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">International</font></td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">25,380</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,268,988</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">225,254</font></td> <td>&#160;</td></tr> </table> <p style="margin: 0pt"></p> 97625 102506 107632 362889 55126 28200 28200 282000 282000 0.39 0.40 54990 224660 21908810 39200090 49087255 6500 -6500 6500000 -495760 -495760 1015000 3771 1011229 3771040 376510 376510 306000 530000 306000 530000 612 305388 -306000 612000 2590 -2590 2590910 711404 711404 54990 141 54849 141000 3096 478000 7500 8441 EX-101.SCH 7 qnta-20191231.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Consolidated Statements of Changes in Stockholders' Equity (Deficit) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Description of Business and Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - License Agreement link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Inventories link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Equipment link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Operating Lease link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Notes Payable link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Convertible Notes Payable link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Derivative Financial Instruments link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Share-Based Payments link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Inventories (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Equipment (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Operating Lease (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Notes Payable (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Derivative Financial Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Income Taxes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Share-Based Payments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Description of Business and Summary of Significant Accounting Policies - Schedule of Disaggregated Revenue (Details) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - License Agreement (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Inventories - Schedule of Inventories (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Equipment (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Equipment - Schedule of Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Operating Lease (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Operating Lease - Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Operating Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Operating Lease - Schedule of Maturities of Operating Lease Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Notes Payable - Schedule of Notes Payable (Details) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - Convertible Notes Payable (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - Derivative Financial Instruments (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - Derivative Financial Instruments - Schedule of Fair Value Assumption of Derivative Instruments (Details) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - Income Taxes (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - Income Taxes - Schedule of Effective Income Tax Rate (Details) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - Stockholders' Equity (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - Share-Based Payments (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - Share-Based Payments - Summary of Restricted Common Stock Activity (Details) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - Share-Based Payments - Schedule of Stock Option Activity (Details) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - Share-Based Payments - Schedule of Warrant Activity (Details) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - Commitments and Contingencies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - Subsequent Events (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 qnta-20191231_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 qnta-20191231_def.xml XBRL DEFINITION FILE EX-101.LAB 10 qnta-20191231_lab.xml XBRL LABEL FILE Consolidated Entities [Axis] Bioanomaly, Inc. [Member] Property, Plant and Equipment, Type [Axis] Machinery-technology Equipment [Member] Machinery-technology Equipment Under Construction [Member] Short-term Debt, Type [Axis] Note Payable One [Member] Note Payable Two [Member] Sale of Stock [Axis] Private Placement [Member] Equity Components [Axis] Warrants [Member] Adjustments for New Accounting Pronouncements [Axis] ASC 842 [Member] Concentration Risk Type [Axis] No Vendor [Member] Concentration Risk Benchmark [Axis] Accounts Payable [Member] Related Party [Axis] Freight Solution [Member] Title of Individual [Axis] Consultant [Member] Award Type [Axis] Restricted Stock [Member] Type of Arrangement and Non-arrangement Transactions [Axis] Patented Technology Developed [Member] Individual [Member] Product and Service [Axis] Distributor License Fees [Member] Scenario [Axis] Per Quarter [Member] Stock Options [Member] Range [Axis] Minimum [Member] Maximum [Member] Convertible Notes Payable [Member] No Customer [Member] Revenue Benchmark [Member] Two Convertible Notes Payable [Member] One Convertible Notes Payable [Member] Class of Stock [Axis] Non-Returnable Shares [Member] Note [Member] Measurement Input Type [Axis] Risk Free Interest Rate [Member] Expected Volatility [Member] Expected Life [Member] Expected Dividend Yield [Member] Income Tax Authority [Axis] Foreign Tax Authority [Member] State and Local Jurisdiction [Member] Through December 31, 2019 [Member] Income Statement Location [Axis] Sale of Products, Net [Member] License Revenue [Member] Subsequent Event Type [Axis] Subsequent Event [Member] One Convertible Promissory Note [Member] Direct to Consumer [Member] Wholesale [Member] Geographical [Axis] California [Member] Other States [Member] International [Member] Convertible Note One [Member] Convertible Note Two [Member] Common Stock [Member] Additional Paid-in Capital [Member] Shares to be Issued [Member] Accumulated Deficit [Member] Non-cancelable Real Property Lease Agreement [Member] Customer [Axis] Customer One [Member] Accounts Receivable [Member] Customer Two [Member] No Other Customer [Member] Employees [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity a Well-known Seasoned Issuer Entity a Voluntary Filer Entity's Reporting Status Current Entity Interactive Data Current Entity Filer Category Entity Small Business Flag Entity Emerging Growth Company Entity Ex Transition Period Entity Shell Company Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS Current assets: Cash Accounts receivable Inventories Prepaid expenses Total current assets Equipment, net Operating lease right-of-use asset Security deposits Total assets LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued expenses Notes payable ($55,850 in default at December 31, 2019) Deferred revenue, license agreement Operating lease liabilities Convertible note payable (net of discount of $224,660) Derivative liabilities Total current liabilities Long term liabilities Deferred revenue, licenses agreement, long-term Operating lease liabilities, long-term Total liabilities Stockholders' equity: Preferred stock, $0.001 par value; 25,000,000 shares authorized; none issued or outstanding Common stock, $0.001 par value; 100,000,000 shares authorized; 49,087,255 and 39,200,090 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively Shares to be issued (7,318,519 and 612,000 shares to be issued as of December 31, 2019 and December 31, 2018, respectively) Additional paid-in capital Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity Notes payable Convertible note payable, discount Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Shares to be issued, shares Statement [Table] Statement [Line Items] Total revenue Cost of goods sold Gross profit Operating expenses: Labor and related Research and development Selling, general, and administrative Total operating expenses Loss from operations Other income (expense): Interest expense Interest income Extinguishment of derivative liabilities Change in fair value of derivative liabilities Private placement costs Gain on forgiveness of accrued interest Gain on extinguishment of debt Other income and expense, net Net loss Net loss per share, basic and diluted Weighted average common shares outstanding - basic and diluted Balance Balance, shares Shares issued for recapitalization Shares issued for recapitalization, Shares Costs of recapitalization Shares issued for cash Shares issued for cash, Shares Fair value of shares issued for settlement of convertible notes payable Fair value of shares issued for settlement of convertible notes payable, shares Fair value of shares issued for services Fair value of shares issued for services, Shares Issuance of shares Issuance of shares, shares Fair value of warrants issued for services Cash received for shares to be issued Shares issued for cashless exercise of warrants Shares issued for cashless exercise of warrants, shares Fair value of vested options Fair value of shares issued for loan fee Fair value of shares issued for loan fee, shares Net loss Balance Balance, shares Statement of Cash Flows [Abstract] CASH FLOW FROM OPERATING ACTIVITIES: Adjustments to reconcile net loss to net cash used in operating activities: Depreciation Fair value of shares issued for services Fair value of vested options Fair value of warrants issued for services Extinguishment of derivative liabilities Change in fair value of derivatives Private placement costs Amortization of convertible note discount Gain on forgiveness of accrued interest Gain on extinguishment of debt Amortization of operating lease right-of-use asset Changes in operating assets and liabilities: Accounts receivable Inventories Prepaid expenses Accounts payable and accrued liabilities Deferred revenue, license agreement Operating lease liabilities Net cash used in operating activities CASH FLOW FROM INVESTING ACTIVITIES: Purchase of equipment Payment of security deposit Net cash used in investment activities CASH FLOW FROM FINANCING ACTIVITIES: Proceeds from shares issued for cash Proceeds from shares to be issued Proceeds from convertibles notes payable Proceeds from notes payable Principal payments of notes payable Principal payment of convertible note payable Costs of recapitalization Net cash provided by financing activities Decrease in cash Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Supplemental Disclosures of Cash Flow Information: Cash paid for taxes Cash paid for Interest Non-cash investing and financing activities Derivative liabilities allocated to convertible note discount Original issue discount Fair value of shares issued for loan fee Shares issued for cashless exercise of warrant Fair value of shares issued for settlement of convertible notes payable Accounting Policies [Abstract] Description of Business and Summary of Significant Accounting Policies License Agreement License Agreement Inventory Disclosure [Abstract] Inventories Property, Plant and Equipment [Abstract] Equipment Leases [Abstract] Operating Lease Debt Disclosure [Abstract] Notes Payable Convertible Notes Payable Convertible Notes Payable Derivative Instruments and Hedging Activities Disclosure [Abstract] Derivative Financial Instruments Income Tax Disclosure [Abstract] Income Taxes Equity [Abstract] Stockholders' Equity Share-based Payment Arrangement [Abstract] Share-Based Payments Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Subsequent Events [Abstract] Subsequent Events Going Concern Basis of Presentation and Principles of Consolidation Use of Estimates Accounts Receivable Inventories Equipment Revenue Leases Derivative Financial Instruments Income Taxes Stock Compensation Advertising Costs Research and Development Costs Net Loss Per Share Fair Value of Financial Instruments Concentrations of Risks Segments Recent Accounting Pronouncements Schedule of Disaggregated Revenue Schedule of Inventories Schedule of Equipment Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases Schedule of Supplemental Balance Sheet Information Related to Leases Schedule of Maturities of Operating Lease Liabilities Schedule of Notes Payable Schedule of Fair Value Assumption of Derivative Instruments Schedule of Effective Income Tax Rate Schedule of Deferred Tax Assets and Liabilities Summary of Restricted Common Stock Activity Schedule of Stock Option Activity Schedule of Warrant Activity Business acquisition number of shares issued Number of offering shares of common stock Shares issued and outstanding percentage Net cash used in operating activities Working capital deficiency Cash on hand Proceeds from issuance of convertible note payable Subscription for shares of common stock received Allowance of uncollectible accounts Inventory reserve Estimated useful lives of equipment Impairment of property plant and equipment Operating lease right-of-use assets Advertising costs Research and development costs Potentially dilutive shares outstanding Derivative liability fair value Concentration risk percentage Operating segments Net revenues recognized Revenues Agreement term Raw materials and packaging Finished goods Inventories Depreciation expense Percentage of equipment completion Equipment, gross Less accumulated depreciation Equipment, net Operating lease description Total lease liabilities Lease liabilities current Lease expenses Operating lease cost (included in selling, general, and administrative expense in the Company's statement of operations) Cash paid for amounts included in the measurement of lease liabilities for 2019 Weighted average remaining lease term - operating leases (in years) Average discount rate - operating leases Long-term right-of-use assets Short-term operating lease liabilities Long-term operating lease liabilities Total operating lease liabilities 2020 2021 2022 2023 Total lease payments Less: Imputed interest/present value discount Present value of lease liabilities Less current portion Total notes payable (all current portion) Note payable due date Note payable interest rate Statistical Measurement [Axis] Convertible notes payable issued Original issue discount Repayment of convertible note Convertible note outstanding Debt interest percentage Debt instrument maturity date Debt conversion price percentage Derivative liabilities conversion features Debt discount Loan costs Loan fee Amortization of debt discount Number of shares issued for commitment fee Non-returnable fees recorded as a loan cost Number of returnable shares Price per share discount percent Decrease in fair value of derivatives Conversion feature Conversion feature: Expected life (in years) Fair Value: Conversion feature Income tax expenses Increase in valuation allowance Federal, net operating loss forwards State, net operating loss forwards Federal carryforwards, description Unrecognized tax benefits Federal tax at statutory rate State tax, net of federal benefit Change in valuation allowance Effective income tax rate Stock-based compensation Operating lease liability Derivative expenses Net operating loss carryforwards Gross deferred tax assets Less: valuation allowance Total deferred tax assets Depreciation Derivative gain Operating lease right-of-use asset Total deferred tax liabilities Net deferred tax asset (liability) Shares authorized Shares issued, price per share Proceeds from issuance of stock Number of common stock shares issued, value Number of shares subscribed Number of common stock shares issued Common stock shares to be issued Number of restricted common stock issued Number of restricted common stock vested Restricted common stock vested, description Restricted common stock vesting term Fair value of restricted common stock Share-based expense Unvested compensation Number of stock issued for services Number of stock issued for services, shares Number of options issued Number of options vested Number of options non vested Options vesting term Options exercise price Options term Fair value of options Stock price Expected term Volatility Dividend rate Risk-free interest rate Options outstanding, aggregate intrinsic Number of warrants issued Warrants exercise price Warrants expiration period Fair value of warrants Cashless exercise warrants Non-vested shares, Beginning balance Non-vested shares, Granted Non-vested shares, Vested Non-vested shares, Forfeited Non-vested shares, Ending balance Fair value of non-vested shares, Beginning balance Fair value of non-vested shares, Granted Fair value of non-vested shares, Vested Fair value of non-vested shares, Forfeited Fair value of non-vested shares, Ending balance Number of Options Outstanding and Exercisable Number of Options Outstanding, Granted Number of Options Outstanding, Exercised Number of Options Outstanding, Expired Number of Options Outstanding and Exercisable Number of Options Outstanding Number of Options Exercisable Options Outstanding and Exercisable, Weighted average exercise price Options Outstanding, Granted, Weighted average exercise price Options Outstanding, Exercised, Weighted average exercise price Options Outstanding, Expired, Weighted average exercise price Options Outstanding and Exercisable, Weighted average exercise price Options Outstanding, Weighted average exercise price Options Exercisable, Weighted average exercise price Options Outstanding and Exercisable, Contractual Life Options Outstanding, Granted, Contractual Life Options Outstanding, Exercised, Contractual Life Options Outstanding, Expired, Contractual Life Options Outstanding and Exercisable, Contractual Life Options Outstanding, Contractual Life Options Exercisable, Contractual Life Number of Warrants Outstanding and Exercisable, Beginning Balance Number of Warrants Outstanding and Exercisable, Granted Number of Warrants Outstanding and Exercisable, Exercised Number of Warrants Outstanding and Exercisable, Expired Number of Warrants Outstanding and Exercisable, Ending Balance Warrants Weighted Average Exercise Price, Beginning Balance Warrants Weighted Average Exercise Price, Granted Warrants Weighted Average Exercise Price, Exercised Warrants Weighted Average Exercise Price, Expired Warrants Weighted Average Exercise Price, Ending Balance Warrants Contractual Life in Years, Beginning Balance Warrants Contractual Life in Years, Granted Warrants Contractual Life in Years, Exercised Warrants Contractual Life in Years, Expired Warrants Contractual Life in Years, Ending Balance Collaborative Arrangement and Arrangement Other than Collaborative [Axis] Royalty percentage Royalty Common stock shares available for future issuance Proceeds from promissory note Interest rate Maturity date Convertible discount rate Common stock, subscriptions amount Area for land Aggregate total fixed rent Security deposit Number of shares issued for services Fair value of shares issued for services Bioanomaly, Inc. [Member] Machinery-technology Equipment Under Construction [Member] No Customer [Member] No Vendor [Member] Note Payable One [Member] Note Payable Two [Member] Shares to be issued. Warrants [Member] Amortization of right-of-use asset. Going concern [Policy Text Block] Schedule of Supplemental Balance Sheet Information Related to Leases [Table Text Block] Freight Solution [Member] Fair value of shares issued for settlement of convertible notes payable. Fair value of shares for services. Consultant [Member] Royalty percentage. Patented Technology Developed [Member] Distributor License Fees [Member] .Security Deposit. Convertible discount rate. Extinguishment of derivative liabilities. Private placement costs. Gain on forgiveness of accrued interest. Fair value of vested options. Convertible notes payable [Text Block] Restricted common stock vested, description. Per Quarter [Member] Unvested compensation. Options vesting term. Stock Options [Member] Warrants expiration period. Fair value of warrants. Cashless exercise warrants. Value of granted award under share-based payment arrangement. Value of forfeited award under share-based payment arrangement. Number of Options Outstanding and Exercisable. Options Outstanding and Exercisable, Weighted average exercise price. Options Outstanding and Exercisable, Contractual Life. Options Outstanding and Exercisable, Contractual Life. Options Outstanding, Granted, Contractual Life Options Outstanding, Exercised, Contractual Life Options Outstanding, Expired, Contractual Life. Weighted average exercise price. Weighted average exercise price, Granted. Weighted average exercise price, Exercised. Weighted average exercise price, Expired. Warrants Contractual life. Warrants Contractual life, Granted. Warrants Contractual life, Exercised. Warrants Contractual life, Expired. Warrants Contractual life. Working capital deficiency. Agreement term. Percentage of equipment completion. Operating lease imputed interest. Non-Returnable Shares [Member] Debt discount. Number of shares issued for commitment fee. Non-Returnable fees recorded as a loan cost. Number of returnable shares, Note [Member] Price per share discount percent. Conversion feature: Expected life (in years), Operating lease liability. Derivative tax liability, depreciation. Deferred tax laibility derivative gain. Deferred tax liability, operating lease right-of-use asset. Shares authorized. Through December 31, 2019 [Member] Common stock shares to be issued. License agreement [Member] Sale of Products, Net [Member] License Revenue [Member] Derivative liabilities allocated to convertible note discount. Shares issued for cashless exercise of warrant. Amortization of convertible note discount. Basis of presentation and principles of consolidation [Policy Text Block] Two Convertible Notes Payable [Member] One Convertible Promissory Note [Member] Number of equity instruments other than options outstanding, including both vested and non-vested instruments. One Convertible Notes Payable [Member] Original issue discount. Fair value of shares issued for loan fee. Direct to Consumer [Member] Wholesale [Member] Other States [Member] International [Member] Convertible Note One [Member] Convertible Note Two [Member] Shares to be Issued [Member] Shares issued for recapitalization. Shares issued for recapitalization Shares. Costs of recapitalization. Fair value of shares issued for notes payable. Fair value of shares issued for notes payable Shares. Cash received for shares to be issued. Fair value of shares issued for cashless exercise of warrants. Fair value of shares issued for cashless exercise of warrants, shares. Fair value of shares issued for loan fee. Fair value of shares issued for loan fee, shares. Non-cancelable Real Property Lease Agreement [Member] Customer One [Member] Customer Two [Member] No Other Customer [Member] Accounts Payable [Member] Employees [Member] Assets, Current Assets Liabilities, Current Liabilities Stockholders' Equity Attributable to Parent Liabilities and Equity Gross Profit Operating Expenses Operating Income (Loss) Interest Expense, Other Nonoperating Income (Expense) Shares, Outstanding FairValueOfSharesForServices FairValueOfVestedOptions Issuance of Stock and Warrants for Services or Claims Increase (Decrease) in Accounts Receivable Increase (Decrease) in Inventories Increase (Decrease) in Prepaid Expense Increase (Decrease) in Deferred Revenue Increase (Decrease) in Operating Liabilities Payments to Acquire Machinery and Equipment PaymentsToAcquireSecurityDeposits Net Cash Provided by (Used in) Investing Activities Repayments of Notes Payable Payments of Stock Issuance Costs Net Cash Provided by (Used in) Financing Activities Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations FairValueOfSharesIssuedForLoanFee FairValueOfSharesIssuedForSettlementOfConvertibleNotesPayable LicenseAgreementTextBlock Inventory Disclosure [Text Block] ConvertibleNotesPayableTextBlock Inventory, Policy [Policy Text Block] Property, Plant and Equipment, Policy [Policy Text Block] Derivatives, Reporting of Derivative Activity [Policy Text Block] Income Tax, Policy [Policy Text Block] Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Lessee, Operating Lease, Liability, Payments, Due Accelerated Trademark Amortization Costs [Member] Debt Instrument, Unamortized Discount Deferred Tax Assets, Valuation Allowance DeferredTaxLiabilityDepreciation DeferredTaxLiabilityOperatingLeaseRightofuseAsset Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested NumberOfOptionsOutstandingAndExercisable Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number OptionsOutstandingAndExercisableWeightedAverageExercisePrice Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3 NumberOfWarrantsOutstandingAndExercisable Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice EX-101.PRE 11 qnta-20191231_pre.xml XBRL PRESENTATION FILE XML 12 R46.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Income Tax Disclosure [Abstract]    
Stock-based compensation $ 1,039,000 $ 160,000
Operating lease liability 94,000
Derivative expenses 67,000
Net operating loss carryforwards 1,132,000 425,000
Gross deferred tax assets 2,332,000 585,000
Less: valuation allowance (2,103,000) (540,000)
Total deferred tax assets 229,000 45,000
Depreciation 90,000 45,000
Derivative gain 46,000
Operating lease right-of-use asset 93,000
Total deferred tax liabilities 229,000 45,000
Net deferred tax asset (liability)
XML 13 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 14 R42.htm IDEA: XBRL DOCUMENT v3.20.1
Derivative Financial Instruments (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Oct. 31, 2019
Derivative liabilities conversion features   $ 400,139 $ 565,195
Decrease in fair value of derivatives   19,491  
Extinguishment of derivative liabilities 145,565  
Note [Member]      
Derivative liabilities conversion features   $ 565,195  
Minimum [Member]      
Price per share discount percent   39.00%  
Maximum [Member]      
Price per share discount percent   40.00%  
XML 15 R8.htm IDEA: XBRL DOCUMENT v3.20.1
License Agreement
12 Months Ended
Dec. 31, 2019
License Agreement  
License Agreement

NOTE 2 – LICENSE AGREEMENT

 

Effective January 22, 2019, the Company entered into an agreement with a wholesaler for the exclusive rights to distribute the Company’s products in the state of Colorado for three years. In consideration, the Company received an up-front payment of $100,000. The Company determined that the exclusive distribution agreement was a distinct agreement for the license of symbolic IP and thus should be recognized on a straight-line basis over the three-year life of the agreement. For the year ended December 31, 2019, the Company recognized revenue related to this agreement of $31,788. For the nine month period ended December 31, 2018, no distribution fee revenue was recorded.

XML 16 R23.htm IDEA: XBRL DOCUMENT v3.20.1
Equipment (Tables)
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Schedule of Equipment

Equipment, stated at cost, less accumulated depreciation consisted of the following:

 

    December 31, 2019     December 31, 2018  
             
Machinery-technology equipment   $ 607,000     $ 347,500  
Machinery-technology equipment under construction     30,000       175,000  
      637,000       522,500  
Less accumulated depreciation     (323,522 )     (149,620 )
                 
    $ 313,478     $ 372,880  

XML 17 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Operations - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Total revenue $ 225,254 $ 1,268,988
Cost of goods sold 183,681 303,720
Gross profit 41,573 965,268
Operating expenses:    
Labor and related 454,179 1,302,391
Research and development 207,600 351,670
Selling, general, and administrative 1,055,805 4,799,030
Total operating expenses 1,717,584 6,453,091
Loss from operations (1,676,011) (5,487,823)
Other income (expense):    
Interest expense (226,239)
Interest income 39 37
Extinguishment of derivative liabilities 145,565
Change in fair value of derivative liabilities 19,491
Private placement costs (238,395)
Gain on forgiveness of accrued interest 21,000
Gain on extinguishment of debt 41,000
Other income and expense, net 62,039 (299,541)
Net loss $ (1,613,972) $ (5,787,364)
Net loss per share, basic and diluted $ (0.05) $ (0.14)
Weighted average common shares outstanding - basic and diluted 35,100,108 42,808,603
Sale of Products, Net [Member]    
Total revenue $ 225,254 $ 1,237,200
License Revenue [Member]    
Total revenue $ 31,788
XML 18 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:

 

    Year ended
December 31, 2019
    Nine-months ended
December 31, 2018
 
             
Federal tax at statutory rate     21.0 %     21.0 %
State tax, net of federal benefit     7.0       7.0  
Change in valuation allowance     (28.0 )     (28.0 )
                 
Effective income tax rate     0.0 %     0.0 %

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following:

 

    December 31, 2019     December 31, 2018  
Deferred tax assets:                
Stock-based compensation   $ 1,039,000     $ 160,000  
Operating lease liability     94,000       -  
Derivative expenses     67,000       -  
Net operating loss carryforwards     1,132,000       425,000  
Gross deferred tax assets     2,332,000       585,000  
Less: valuation allowance     (2,103,000 )     (540,000 )
Total deferred tax assets     229,000       45,000  
Deferred tax liabilities:                
Depreciation     90,000       45,000  
Derivative gain     46,000       -  
Operating lease right-of-use asset     93,000       -  
Total deferred tax liabilities     229,000       45,000  
Net deferred tax asset (liability)   $ -     $ -  

XML 19 R36.htm IDEA: XBRL DOCUMENT v3.20.1
Operating Lease - Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases (Details)
12 Months Ended
Dec. 31, 2019
USD ($)
Leases [Abstract]  
Operating lease cost (included in selling, general, and administrative expense in the Company's statement of operations) $ 107,588
Cash paid for amounts included in the measurement of lease liabilities for 2019 $ 98,375
Weighted average remaining lease term - operating leases (in years) 3 years 6 months
Average discount rate - operating leases 4.00%
XML 20 R32.htm IDEA: XBRL DOCUMENT v3.20.1
Inventories - Schedule of Inventories (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Inventory Disclosure [Abstract]    
Raw materials and packaging $ 102,428
Finished goods 20,091
Inventories $ 122,519
XML 21 R11.htm IDEA: XBRL DOCUMENT v3.20.1
Operating Lease
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Operating Lease

NOTE 5 - OPERATING LEASE

 

The Company leases its headquarters office space in Burbank, California under an operating lease that expires on July 31, 2023. At December 31, 2019, the Company did not have any other leases.

 

Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally the implicit rate of interest in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives.

 

Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases (“ASC 842”), which requires an entity to recognize a right-of-use asset and a lease liability for certain leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. The adoption of ASC 842 on January 1, 2019, resulted in the recognition of operating lease right-of-use assets of $420,112 and corresponding lease liabilities of approximately the same amount. There was no cumulative-effect adjustment to accumulated deficit. As of December 31, 2019, the unamortized right of use asset was $332,980 and total lease liabilities were $337,453, of which $85,662 was current.

 

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

 

   

Year ended

December 31, 2019

 
Lease Cost        
Operating lease cost (included in selling, general, and administrative expense in the Company’s statement of operations)   $ 107,588  
         
Other Information        
Cash paid for amounts included in the measurement of lease liabilities for 2019   $ 98,375  
Weighted average remaining lease term – operating leases (in years)     3.5  
Average discount rate – operating leases     4 %

The supplemental balance sheet information related to leases for the period is as follows:

 

    At December 31, 2019  
Operating leases        
Long-term right-of-use assets   $ 332,980  
         
Short-term operating lease liabilities   $ 85,662  
Long-term operating lease liabilities     251,791  
Total operating lease liabilities   $ 337,453  

 

Maturities of the Company’s lease liabilities are as follows:

 

Year Ending   Operating Leases  
2020   $ 97,625  
2021     102,506  
2022     107,632  
2023     55,126  
Total lease payments     362,889  
Less: Imputed interest/present value discount     (25,436 )
Present value of lease liabilities     337,453  
Less current portion     (85,662 )
Operating lease liabilities, long-term   $ 251,791  

 

Lease expense were $107,588 and $42,040 during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, respectively.

 

Subsequent to December 31, 2019, the Company commenced leasing a second facility in addition to its headquarters facility described above (See Note 13).

XML 22 R15.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 9 – INCOME TAXES

 

The Company had no income tax expense for the year ended December 31, 2019 and the nine-month period ended December 31, 2018. The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:

 

    Year ended
December 31, 2019
    Nine-months ended
December 31, 2018
 
             
Federal tax at statutory rate     21.0 %     21.0 %
State tax, net of federal benefit     7.0       7.0  
Change in valuation allowance     (28.0 )     (28.0 )
                 
Effective income tax rate     0.0 %     0.0 %

 

Deferred tax assets and liabilities consist of the following:

 

    December 31, 2019     December 31, 2018  
Deferred tax assets:                
Stock-based compensation   $ 1,039,000     $ 160,000  
Operating lease liability     94,000       -  
Derivative expenses     67,000       -  
Net operating loss carryforwards     1,132,000       425,000  
Gross deferred tax assets     2,332,000       585,000  
Less: valuation allowance     (2,103,000 )     (540,000 )
Total deferred tax assets     229,000       45,000  
Deferred tax liabilities:                
Depreciation     90,000       45,000  
Derivative gain     46,000       -  
Operating lease right-of-use asset     93,000       -  
Total deferred tax liabilities     229,000       45,000  
Net deferred tax asset (liability)   $ -     $ -  

  

The provisions of ASC Topic 740, Accounting for Income Taxes, require an assessment of both positive and negative evidence when determining whether it is more likely than not that deferred tax assets are recoverable. For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, based on all available objective evidence, including the existence of cumulative losses, the Company determined that it was more likely than not that the net deferred tax assets were not fully realizable. Accordingly, the Company established a full valuation allowance against its net deferred tax assets. The Company intends to maintain a full valuation allowance on net deferred tax assets until sufficient positive evidence exists to support reversal of the valuation allowance. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, the valuation allowance increased by $1.5 million and $0.5 million, respectively.

 

At December 31, 2019 and 2018, the Company had available Federal and state net operating loss carryforwards (“NOL”s) to reduce future taxable income. For Federal purposes the amounts available were approximately $4.3 million and $1.6 million, respectively. For state purposes approximately $3.1 million and $1.1 was available at December 31, 2019 and 2018, respectively. The Federal carryforwards expire on various dates through 2039 and the state carryforwards expire through 2036. Due to restrictions imposed by Internal Revenue Code Section 382 regarding substantial changes in ownership of companies with loss carryforwards, the utilization of the Company’s NOL may be limited as a result of changes in stock ownership. NOLs incurred subsequent to the latest change in control are not subject to the limitation.

 

The Company’s operations are based in California and it is subject to Federal and California state income tax. Tax years after 2015 are open to examination by United States and state tax authorities.

 

The Company adopted the provisions of ASC 740, which requires companies to determine whether it is “more likely than not” that a tax position will be sustained upon examination by the appropriate taxing authorities before any tax benefit can be recorded in the financial statements. ASC 740 also provides guidance on the recognition, measurement, classification and interest and penalties related to uncertain tax positions. As of December 31, 2019 and December 31, 2018, no liability for unrecognized tax benefits was required to be recorded or disclosed.

XML 23 R19.htm IDEA: XBRL DOCUMENT v3.20.1
Subsequent Events
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

NOTE 13 – SUBSEQUENT EVENTS

 

In February 2020, the Company issued one unsecured convertible promissory note for $153,000, bearing interest at 22% per annum, and maturing in August 2020. The note is convertible at a 39% discount to the price of the Company’s common stock, as defined.

 

In February 2020, the Company received $30,000 for subscriptions for shares of common stock to be issued in a private placement.

 

On December 19, 2019, the Company entered into a non-cancelable real property lease agreement for approximately 3096 square feet of office, research, and production space in Burbank, California.  The Company took possession of the space in February 2020.  The lease term is for 60 months with an option to extend the term for an additional five years thereafter. The lease has with the annual fixed rental payments escalating from $7,500 to $8,441 during the original term. The aggregate total fixed rent is approximately $478,000 and will result in the recognition of an operating lease right-of-use asset of approximately $430,000 and corresponding lease liabilities of approximately the same amount. The Company also paid a security deposit of $16,883.

 

In March 2020, the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, have adversely affected workforces, customers, economies, and financial markets globally, likely leading to an economic downturn. It has also disrupted the normal operations of many businesses. This outbreak could decrease spending, adversely affect demand for our product and harm our business and results of operations. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business or results of operations at this time.

 

In March 2020, the Company issued approximately 241,000 shares of common stock with a fair value of approximately $28,000 to employees for services. 

XML 24 R53.htm IDEA: XBRL DOCUMENT v3.20.1
Subsequent Events (Details Narrative)
1 Months Ended 9 Months Ended 12 Months Ended
Dec. 19, 2019
USD ($)
ft²
Mar. 31, 2020
USD ($)
shares
Feb. 29, 2020
USD ($)
Dec. 31, 2018
USD ($)
shares
Dec. 31, 2019
USD ($)
shares
Mar. 30, 2020
USD ($)
Proceeds from promissory note       $ 100,000  
Operating lease right-of-use asset       332,980  
Security deposit       $ 16,770 $ 33,652  
Number of shares issued for services | shares       194,030 2,424,121  
Private Placement [Member]            
Common stock, subscriptions amount       $ 306,000 $ 530,000  
Non-cancelable Real Property Lease Agreement [Member]            
Area for land | ft² 3,096          
Aggregate total fixed rent $ 478,000          
Operating lease right-of-use asset 430,000          
Security deposit 16,883          
Non-cancelable Real Property Lease Agreement [Member] | Minimum [Member]            
Aggregate total fixed rent 7,500          
Non-cancelable Real Property Lease Agreement [Member] | Maximum [Member]            
Aggregate total fixed rent $ 8,441          
Subsequent Event [Member]            
Common stock, subscriptions amount           $ 30,000
Subsequent Event [Member] | Employees [Member]            
Number of shares issued for services | shares   241,000        
Fair value of shares issued for services   $ 28,000        
Subsequent Event [Member] | Private Placement [Member]            
Common stock, subscriptions amount     $ 30,000      
Subsequent Event [Member] | One Convertible Promissory Note [Member]            
Proceeds from promissory note     $ 153,000      
Interest rate     22.00%      
Maturity date     Aug. 31, 2020      
Convertible discount rate     39.00%      
EXCEL 25 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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�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end XML 26 R37.htm IDEA: XBRL DOCUMENT v3.20.1
Operating Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Leases [Abstract]    
Long-term right-of-use assets $ 332,980
Short-term operating lease liabilities 85,662
Long-term operating lease liabilities 251,791
Total operating lease liabilities $ 337,453  

XML 27 R33.htm IDEA: XBRL DOCUMENT v3.20.1
Equipment (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Property, Plant and Equipment [Abstract]    
Depreciation expense $ 86,875 $ 173,902
Percentage of equipment completion   33.00%
XML 28 R18.htm IDEA: XBRL DOCUMENT v3.20.1
Commitments and Contingencies
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

NOTE 12 – COMMITMENTS AND CONTINGENCIES

 

 

The Company has an agreement with an individual in consideration of the Company’s exclusive use of patented technology developed by the individual. Pursuant to the agreement, as amended, the Company shall pay a royalty of 25% of all the net income from the sale of licensed products, as defined with a minimum royalty of $35,000 per month payable in cash or common stock of the Company. In addition, the Company agreed to issue 8,000,000 shares of the Company’s common stock with vesting terms to the individual (see Note 11). During the year ended December 31, 2019, the Company paid $343,300 to the individual.

XML 29 R10.htm IDEA: XBRL DOCUMENT v3.20.1
Equipment
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Equipment

NOTE 4 - EQUIPMENT

 

Equipment, stated at cost, less accumulated depreciation consisted of the following:

 

    December 31, 2019     December 31, 2018  
             
Machinery-technology equipment   $ 607,000     $ 347,500  
Machinery-technology equipment under construction     30,000       175,000  
      637,000       522,500  
Less accumulated depreciation     (323,522 )     (149,620 )
                 
    $ 313,478     $ 372,880  

 

Depreciation expense for the year ended December 31, 2019 and transition period ended December 31, 2018 was $173,903 and $185,835, respectively. As of December 31, 2019, the equipment under construction is approximately 33% complete, and is expected to be completed and placed into service during the year ended December 31, 2020.

XML 30 R14.htm IDEA: XBRL DOCUMENT v3.20.1
Derivative Financial Instruments
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

NOTE 8 – DERIVATIVE FINANCIAL INSTRUMENTS

 

During 2019, the Company had convertible promissory notes outstanding that are convertible into shares of common stock of the Company at the option of the holder at price per share discounts ranging from 39% to 40% of the Company’s common stock market price, as defined in the note agreements. As the ultimate determination of shares to be issued upon conversion of these notes could exceed the current number of available authorized shares, the Company determined that the conversion features of the convertible notes were not considered indexed to the Company’s own stock and characterized the fair value of the conversion features as derivative liabilities. Accordingly, the conversion features of the notes were separated from the host contracts (i.e. the notes) and characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations.

 

At December 31, 2018, there was no balance of derivative liabilities. During the year ended December 31, 2019, the Company recorded additions of $565,195 related to the conversion features of notes issued during the period (see Note 7), and a decrease in fair value of derivatives of ($19,491). In addition, the Company recorded a decrease in derivative liability of ($145,565) related to derivative liabilities that were extinguished when the related convertible note payable was paid off (see Note 7). At December 31, 2019, the balance of the derivative liabilities was $400,139.

 

The derivative liabilities were valued at the following dates using a probability weighted Black-Scholes-Merton model with the following assumptions:

 

    December 31, 2019     October 2019
(dates of inception)
 
Conversion feature:                
Risk-free interest rate     1.77 %     1.75 %
Expected volatility     222 %     223 %
Expected life (in years)     1 year       1 year  
Expected dividend yield     -       -  
                 
Fair Value:                
Conversion feature   $ 400,139     $ 565,195  

 

The risk-free interest rate was based on rates established by the Federal Reserve Bank. The expected volatility is based on the historical volatility of the Company’s stock. The expected life of the conversion feature of the notes was based on the remaining terms of the related notes. The expected dividend yield was based on the fact that the Company has not customarily paid dividends to its common stockholders in the past and does not expect to pay dividends to its common stockholders in the future.

XML 31 R52.htm IDEA: XBRL DOCUMENT v3.20.1
Commitments and Contingencies (Details Narrative) - Patented Technology Developed [Member]
12 Months Ended
Dec. 31, 2019
USD ($)
shares
Royalty percentage 25.00%
Royalty $ 35,000
Common stock shares available for future issuance | shares 8,000,000
Individual [Member]  
Royalty $ 343,300
XML 32 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.1 html 130 389 1 false 57 0 false 7 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://quanta-inc.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Consolidated Balance Sheets Sheet http://quanta-inc.com/role/BalanceSheets Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://quanta-inc.com/role/BalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Consolidated Statements of Operations Sheet http://quanta-inc.com/role/StatementsOfOperations Consolidated Statements of Operations Statements 4 false false R5.htm 00000005 - Statement - Consolidated Statements of Changes in Stockholders' Equity (Deficit) Sheet http://quanta-inc.com/role/StatementsOfChangesInStockholdersEquityDeficit Consolidated Statements of Changes in Stockholders' Equity (Deficit) Statements 5 false false R6.htm 00000006 - Statement - Consolidated Statements of Cash Flows Sheet http://quanta-inc.com/role/StatementsOfCashFlows Consolidated Statements of Cash Flows Statements 6 false false R7.htm 00000007 - Disclosure - Description of Business and Summary of Significant Accounting Policies Sheet http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPolicies Description of Business and Summary of Significant Accounting Policies Notes 7 false false R8.htm 00000008 - Disclosure - License Agreement Sheet http://quanta-inc.com/role/LicenseAgreement License Agreement Notes 8 false false R9.htm 00000009 - Disclosure - Inventories Sheet http://quanta-inc.com/role/Inventories Inventories Notes 9 false false R10.htm 00000010 - Disclosure - Equipment Sheet http://quanta-inc.com/role/Equipment Equipment Notes 10 false false R11.htm 00000011 - Disclosure - Operating Lease Sheet http://quanta-inc.com/role/OperatingLease Operating Lease Notes 11 false false R12.htm 00000012 - Disclosure - Notes Payable Notes http://quanta-inc.com/role/NotesPayable Notes Payable Notes 12 false false R13.htm 00000013 - Disclosure - Convertible Notes Payable Notes http://quanta-inc.com/role/ConvertibleNotesPayable Convertible Notes Payable Notes 13 false false R14.htm 00000014 - Disclosure - Derivative Financial Instruments Sheet http://quanta-inc.com/role/DerivativeFinancialInstruments Derivative Financial Instruments Notes 14 false false R15.htm 00000015 - Disclosure - Income Taxes Sheet http://quanta-inc.com/role/IncomeTaxes Income Taxes Notes 15 false false R16.htm 00000016 - Disclosure - Stockholders' Equity Sheet http://quanta-inc.com/role/StockholdersEquity Stockholders' Equity Notes 16 false false R17.htm 00000017 - Disclosure - Share-Based Payments Sheet http://quanta-inc.com/role/Share-basedPayments Share-Based Payments Notes 17 false false R18.htm 00000018 - Disclosure - Commitments and Contingencies Sheet http://quanta-inc.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 18 false false R19.htm 00000019 - Disclosure - Subsequent Events Sheet http://quanta-inc.com/role/SubsequentEvents Subsequent Events Notes 19 false false R20.htm 00000020 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Policies) Sheet http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPoliciesPolicies Description of Business and Summary of Significant Accounting Policies (Policies) Policies http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPolicies 20 false false R21.htm 00000021 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Tables) Sheet http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPoliciesTables Description of Business and Summary of Significant Accounting Policies (Tables) Tables http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPolicies 21 false false R22.htm 00000022 - Disclosure - Inventories (Tables) Sheet http://quanta-inc.com/role/InventoriesTables Inventories (Tables) Tables http://quanta-inc.com/role/Inventories 22 false false R23.htm 00000023 - Disclosure - Equipment (Tables) Sheet http://quanta-inc.com/role/EquipmentTables Equipment (Tables) Tables http://quanta-inc.com/role/Equipment 23 false false R24.htm 00000024 - Disclosure - Operating Lease (Tables) Sheet http://quanta-inc.com/role/OperatingLeaseTables Operating Lease (Tables) Tables http://quanta-inc.com/role/OperatingLease 24 false false R25.htm 00000025 - Disclosure - Notes Payable (Tables) Notes http://quanta-inc.com/role/NotesPayableTables Notes Payable (Tables) Tables http://quanta-inc.com/role/NotesPayable 25 false false R26.htm 00000026 - Disclosure - Derivative Financial Instruments (Tables) Sheet http://quanta-inc.com/role/DerivativeFinancialInstrumentsTables Derivative Financial Instruments (Tables) Tables http://quanta-inc.com/role/DerivativeFinancialInstruments 26 false false R27.htm 00000027 - Disclosure - Income Taxes (Tables) Sheet http://quanta-inc.com/role/IncomeTaxesTables Income Taxes (Tables) Tables http://quanta-inc.com/role/IncomeTaxes 27 false false R28.htm 00000028 - Disclosure - Share-Based Payments (Tables) Sheet http://quanta-inc.com/role/Share-basedPaymentsTables Share-Based Payments (Tables) Tables http://quanta-inc.com/role/Share-basedPayments 28 false false R29.htm 00000029 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Details Narrative) Sheet http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPoliciesDetailsNarrative Description of Business and Summary of Significant Accounting Policies (Details Narrative) Details http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPoliciesTables 29 false false R30.htm 00000030 - Disclosure - Description of Business and Summary of Significant Accounting Policies - Schedule of Disaggregated Revenue (Details) Sheet http://quanta-inc.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPolicies-ScheduleOfDisaggregatedRevenueDetails Description of Business and Summary of Significant Accounting Policies - Schedule of Disaggregated Revenue (Details) Details 30 false false R31.htm 00000031 - Disclosure - License Agreement (Details Narrative) Sheet http://quanta-inc.com/role/LicenseAgreementDetailsNarrative License Agreement (Details Narrative) Details http://quanta-inc.com/role/LicenseAgreement 31 false false R32.htm 00000032 - Disclosure - Inventories - Schedule of Inventories (Details) Sheet http://quanta-inc.com/role/Inventories-ScheduleOfInventoriesDetails Inventories - Schedule of Inventories (Details) Details 32 false false R33.htm 00000033 - Disclosure - Equipment (Details Narrative) Sheet http://quanta-inc.com/role/EquipmentDetailsNarrative Equipment (Details Narrative) Details http://quanta-inc.com/role/EquipmentTables 33 false false R34.htm 00000034 - Disclosure - Equipment - Schedule of Equipment (Details) Sheet http://quanta-inc.com/role/Equipment-ScheduleOfEquipmentDetails Equipment - Schedule of Equipment (Details) Details 34 false false R35.htm 00000035 - Disclosure - Operating Lease (Details Narrative) Sheet http://quanta-inc.com/role/OperatingLeaseDetailsNarrative Operating Lease (Details Narrative) Details http://quanta-inc.com/role/OperatingLeaseTables 35 false false R36.htm 00000036 - Disclosure - Operating Lease - Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases (Details) Sheet http://quanta-inc.com/role/OperatingLease-ScheduleOfLeaseExpenseAndSupplementalCashFlowInformationRelatedToLeasesDetails Operating Lease - Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases (Details) Details 36 false false R37.htm 00000037 - Disclosure - Operating Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) Sheet http://quanta-inc.com/role/OperatingLease-ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesDetails Operating Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) Details 37 false false R38.htm 00000038 - Disclosure - Operating Lease - Schedule of Maturities of Operating Lease Liabilities (Details) Sheet http://quanta-inc.com/role/OperatingLease-ScheduleOfMaturitiesOfOperatingLeaseLiabilitiesDetails Operating Lease - Schedule of Maturities of Operating Lease Liabilities (Details) Details 38 false false R39.htm 00000039 - Disclosure - Notes Payable - Schedule of Notes Payable (Details) Notes http://quanta-inc.com/role/NotesPayable-ScheduleOfNotesPayableDetails Notes Payable - Schedule of Notes Payable (Details) Details 39 false false R40.htm 00000040 - Disclosure - Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) Notes http://quanta-inc.com/role/NotesPayable-ScheduleOfNotesPayableDetailsParenthetical Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) Details 40 false false R41.htm 00000041 - Disclosure - Convertible Notes Payable (Details Narrative) Notes http://quanta-inc.com/role/ConvertibleNotesPayableDetailsNarrative Convertible Notes Payable (Details Narrative) Details http://quanta-inc.com/role/ConvertibleNotesPayable 41 false false R42.htm 00000042 - Disclosure - Derivative Financial Instruments (Details Narrative) Sheet http://quanta-inc.com/role/DerivativeFinancialInstrumentsDetailsNarrative Derivative Financial Instruments (Details Narrative) Details http://quanta-inc.com/role/DerivativeFinancialInstrumentsTables 42 false false R43.htm 00000043 - Disclosure - Derivative Financial Instruments - Schedule of Fair Value Assumption of Derivative Instruments (Details) Sheet http://quanta-inc.com/role/DerivativeFinancialInstruments-ScheduleOfFairValueAssumptionOfDerivativeInstrumentsDetails Derivative Financial Instruments - Schedule of Fair Value Assumption of Derivative Instruments (Details) Details 43 false false R44.htm 00000044 - Disclosure - Income Taxes (Details Narrative) Sheet http://quanta-inc.com/role/IncomeTaxesDetailsNarrative Income Taxes (Details Narrative) Details http://quanta-inc.com/role/IncomeTaxesTables 44 false false R45.htm 00000045 - Disclosure - Income Taxes - Schedule of Effective Income Tax Rate (Details) Sheet http://quanta-inc.com/role/IncomeTaxes-ScheduleOfEffectiveIncomeTaxRateDetails Income Taxes - Schedule of Effective Income Tax Rate (Details) Details 45 false false R46.htm 00000046 - Disclosure - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) Sheet http://quanta-inc.com/role/IncomeTaxes-ScheduleOfDeferredTaxAssetsAndLiabilitiesDetails Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) Details 46 false false R47.htm 00000047 - Disclosure - Stockholders' Equity (Details Narrative) Sheet http://quanta-inc.com/role/StockholdersEquityDetailsNarrative Stockholders' Equity (Details Narrative) Details http://quanta-inc.com/role/StockholdersEquity 47 false false R48.htm 00000048 - Disclosure - Share-Based Payments (Details Narrative) Sheet http://quanta-inc.com/role/Share-basedPaymentsDetailsNarrative Share-Based Payments (Details Narrative) Details http://quanta-inc.com/role/Share-basedPaymentsTables 48 false false R49.htm 00000049 - Disclosure - Share-Based Payments - Summary of Restricted Common Stock Activity (Details) Sheet http://quanta-inc.com/role/Share-basedPayments-SummaryOfRestrictedCommonStockActivityDetails Share-Based Payments - Summary of Restricted Common Stock Activity (Details) Details 49 false false R50.htm 00000050 - Disclosure - Share-Based Payments - Schedule of Stock Option Activity (Details) Sheet http://quanta-inc.com/role/Share-basedPayments-ScheduleOfStockOptionActivityDetails Share-Based Payments - Schedule of Stock Option Activity (Details) Details 50 false false R51.htm 00000051 - Disclosure - Share-Based Payments - Schedule of Warrant Activity (Details) Sheet http://quanta-inc.com/role/Share-basedPayments-ScheduleOfWarrantActivityDetails Share-Based Payments - Schedule of Warrant Activity (Details) Details 51 false false R52.htm 00000052 - Disclosure - Commitments and Contingencies (Details Narrative) Sheet http://quanta-inc.com/role/CommitmentsAndContingenciesDetailsNarrative Commitments and Contingencies (Details Narrative) Details http://quanta-inc.com/role/CommitmentsAndContingencies 52 false false R53.htm 00000053 - Disclosure - Subsequent Events (Details Narrative) Sheet http://quanta-inc.com/role/SubsequentEventsDetailsNarrative Subsequent Events (Details Narrative) Details http://quanta-inc.com/role/SubsequentEvents 53 false false All Reports Book All Reports qnta-20191231.xml qnta-20191231.xsd qnta-20191231_cal.xml qnta-20191231_def.xml qnta-20191231_lab.xml qnta-20191231_pre.xml http://fasb.org/srt/2019-01-31 http://xbrl.sec.gov/dei/2019-01-31 http://fasb.org/us-gaap/2019-01-31 http://xbrl.sec.gov/country/2017-01-31 true true XML 33 R47.htm IDEA: XBRL DOCUMENT v3.20.1
Stockholders' Equity (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Shares authorized   125,000,000
Common stock, shares authorized 100,000,000 100,000,000
Common stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized 25,000,000 25,000,000
Preferred stock, par value $ 0.001 $ 0.001
Proceeds from issuance of stock $ 1,300,018 $ 2,090,375
Number of common stock shares issued, value 1,300,018 $ 2,090,375
Number of common stock shares issued   12,011,269
Common stock shares to be issued   5,068,519
Through December 31, 2019 [Member]    
Number of common stock shares issued   6,942,750
Private Placement [Member]    
Proceeds from issuance of stock   $ 2,926,375
Number of common stock shares issued, value   2,090,375
Number of shares subscribed $ 306,000 $ 530,000
Private Placement [Member] | Minimum [Member]    
Shares issued, price per share   $ 0.10
Private Placement [Member] | Maximum [Member]    
Shares issued, price per share   $ 0.50
XML 34 R43.htm IDEA: XBRL DOCUMENT v3.20.1
Derivative Financial Instruments - Schedule of Fair Value Assumption of Derivative Instruments (Details)
1 Months Ended 12 Months Ended
Oct. 31, 2018
Dec. 31, 2019
USD ($)
Integer
Oct. 31, 2019
USD ($)
Integer
Fair Value: Conversion feature | $   $ 400,139 $ 565,195
Risk Free Interest Rate [Member]      
Conversion feature   1.77 1.75
Expected Volatility [Member]      
Conversion feature   222 223
Expected Life [Member]      
Conversion feature: Expected life (in years) 1 year 1 year  
Expected Dividend Yield [Member]      
Conversion feature   0.00 0.00
XML 35 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)
Common Stock [Member]
Additional Paid-in Capital [Member]
Shares to be Issued [Member]
Accumulated Deficit [Member]
Total
Balance at Mar. 31, 2018 $ 21,909 $ (11,909) $ (836,412) $ (826,412)
Balance, shares at Mar. 31, 2018 21,908,810        
Shares issued for recapitalization $ 6,500 (6,500)
Shares issued for recapitalization, Shares 6,500,000        
Costs of recapitalization (495,760) (495,760)
Shares issued for cash $ 6,500 1,293,518 1,300,018
Shares issued for cash, Shares 6,500,090        
Fair value of shares issued for settlement of convertible notes payable $ 3,771 $ 1,011,229 $ 1,015,000
Fair value of shares issued for settlement of convertible notes payable, shares 3,771,040        
Fair value of shares issued for services 520 193,510 194,030
Fair value of shares issued for services, Shares $ 520,150        
Fair value of warrants issued for services $ 376,510 $ 376,510
Cash received for shares to be issued 306,000 306,000
Net loss (1,613,972) (1,613,972)
Balance at Dec. 31, 2018 $ 39,200 2,360,598 306,000 (2,450,384) 255,414
Balance, shares at Dec. 31, 2018 39,200,090        
Shares issued for cash $ 6,331 $ 2,084,044 $ 2,090,375
Shares issued for cash, Shares 6,330,750       12,011,269
Fair value of shares issued for services 213 106,040 2,317,868 2,424,121
Fair value of shares issued for services, Shares $ 212,505        
Issuance of shares $ 612 $ 305,388 $ (306,000)
Issuance of shares, shares 612,000        
Cash received for shares to be issued 530,000 530,000
Shares issued for cashless exercise of warrants $ 2,590 (2,590)
Shares issued for cashless exercise of warrants, shares 2,590,910        
Fair value of vested options 711,404 711,404
Fair value of shares issued for loan fee $ 141 54,849 54,990
Fair value of shares issued for loan fee, shares 141,000        
Net loss (5,787,364) (5,787,364)
Balance at Dec. 31, 2019 $ 49,087 $ 5,619,733 $ 2,847,868 $ (8,237,748) $ 278,940
Balance, shares at Dec. 31, 2019 49,087,255        
XML 36 R22.htm IDEA: XBRL DOCUMENT v3.20.1
Inventories (Tables)
12 Months Ended
Dec. 31, 2019
Inventory Disclosure [Abstract]  
Schedule of Inventories

Inventories are valued at the lower of cost (first-in, first-out) or net realizable value, and consisted of the following:

 

    December 31, 2019     December 31, 2018  
             
Raw materials and packaging   $ 102,428     $           -  
Finished goods     20,091       -  
                 
    $ 122,519     $ -  

XML 37 R26.htm IDEA: XBRL DOCUMENT v3.20.1
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value Assumption of Derivative Instruments

The derivative liabilities were valued at the following dates using a probability weighted Black-Scholes-Merton model with the following assumptions:

 

    December 31, 2019     October 2019
(dates of inception)
 
Conversion feature:                
Risk-free interest rate     1.77 %     1.75 %
Expected volatility     222 %     223 %
Expected life (in years)     1 year       1 year  
Expected dividend yield     -       -  
                 
Fair Value:                
Conversion feature   $ 400,139     $ 565,195  

XML 38 R1.htm IDEA: XBRL DOCUMENT v3.20.1
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2019
Apr. 03, 2020
Jun. 28, 2019
Document And Entity Information      
Entity Registrant Name QUANTA INC    
Entity Central Index Key 0001691430    
Document Type 10-K    
Document Period End Date Dec. 31, 2019    
Amendment Flag false    
Current Fiscal Year End Date --12-31    
Entity a Well-known Seasoned Issuer No    
Entity a Voluntary Filer No    
Entity's Reporting Status Current Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business Flag true    
Entity Emerging Growth Company true    
Entity Ex Transition Period false    
Entity Shell Company false    
Entity Public Float     $ 41,203,885
Entity Common Stock, Shares Outstanding   55,322,712  
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2019    
XML 39 R9.htm IDEA: XBRL DOCUMENT v3.20.1
Inventories
12 Months Ended
Dec. 31, 2019
Inventory Disclosure [Abstract]  
Inventories

NOTE 3 – INVENTORIES

 

Inventories are valued at the lower of cost (first-in, first-out) or net realizable value, and consisted of the following:

 

    December 31, 2019     December 31, 2018  
             
Raw materials and packaging   $ 102,428     $           -  
Finished goods     20,091       -  
                 
    $ 122,519     $ -  

XML 40 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 41 R12.htm IDEA: XBRL DOCUMENT v3.20.1
Notes Payable
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Notes Payable

NOTE 6 – NOTES PAYABLE

 

    December 31, 2019     December 31, 2018  
             
Note payable, in default, due January 13, 2019, interest at 8.3% per annum, secured by all the assets of the Company. As of the date of the financial statements, the note has not been fully paid, and the Company is in negotiations with the lender to cure this default.   $ 55,850     $ 80,000  
                 
Note payable, unsecured, due January 6, 2019, interest at 10% per year. The note was paid off in 2019.     -       100,000  
                 
Total notes payable (all current portion)   $ 55,850     $ 180,000  

XML 42 R16.htm IDEA: XBRL DOCUMENT v3.20.1
Stockholders' Equity
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Stockholders' Equity

NOTE 10 – STOCKHOLDERS’ EQUITY

 

The Company’s authorized capital consists of 125,000,000 shares, of which 100,000,000 shares are designated as shares of common stock, par value $0.001 per share, and 25,000,000 shares are designated as shares of preferred stock, par value $0.001 per share. No shares of preferred stock are currently outstanding. Shares of preferred stock may be issued in one or more series, each series to be appropriately designated by a distinguishing letter or title, prior to the issuance of any shares thereof. The voting powers, designations, preferences, limitations, restrictions, relative, participating, options and other rights, and the qualifications, limitations, or restrictions thereof, of the preferred stock are to be determined by the Board of Directors before the issuance of any shares of preferred stock in such series.

 

Common stock issued for cash

 

During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, the Company completed a private placements of shares at prices ranging from $.10 to $0.50 per share. A total of $2,926,375 was received, including $2,090,375 in 2019 for shares issued in 2019, $530,000 in 2019 for shares subscribed, and $306,000 in 2018 for shares issued in 2019.

 

The Company agreed to issue a total 12,011,269 shares in the private placements, of which 6,942,750 shares were issued through December 31, 2019, and 5,068,519 shares are included in shares to be issued on the accompanying financial statements.

XML 43 R39.htm IDEA: XBRL DOCUMENT v3.20.1
Notes Payable - Schedule of Notes Payable (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Total notes payable (all current portion) $ 55,850 $ 180,000
Note Payable One [Member]    
Total notes payable (all current portion) 55,850 80,000
Note Payable Two [Member]    
Total notes payable (all current portion) $ 100,000
XML 44 R35.htm IDEA: XBRL DOCUMENT v3.20.1
Operating Lease (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Leases [Abstract]    
Operating lease description   The Company leases its headquarters office space in Burbank, California under an operating lease that expires on July 31, 2023.
Operating lease right-of-use asset $ 332,980
Total lease liabilities   337,453
Lease liabilities current 85,662
Lease expenses $ 42,040 $ 107,588
XML 45 R31.htm IDEA: XBRL DOCUMENT v3.20.1
License Agreement (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
Jan. 22, 2019
Dec. 31, 2018
Dec. 31, 2019
Revenues $ 100,000 $ 225,254 $ 1,268,988
Agreement term 3 years    
Distributor License Fees [Member]      
Revenues   $ 31,788
XML 46 R50.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Payments - Schedule of Stock Option Activity (Details) - $ / shares
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]    
Number of Options Outstanding and Exercisable
Number of Options Outstanding, Granted 3,290,000
Number of Options Outstanding, Exercised
Number of Options Outstanding, Expired
Number of Options Outstanding and Exercisable  
Number of Options Outstanding   3,290,000
Number of Options Exercisable   1,800,000
Options Outstanding and Exercisable, Weighted average exercise price
Options Outstanding, Granted, Weighted average exercise price 0.23
Options Outstanding, Exercised, Weighted average exercise price
Options Outstanding, Expired, Weighted average exercise price
Options Outstanding and Exercisable, Weighted average exercise price  
Options Outstanding, Weighted average exercise price   0.23
Options Exercisable, Weighted average exercise price   $ 0.23
Options Outstanding and Exercisable, Contractual Life 0 years 0 years
Options Outstanding, Granted, Contractual Life 0 years 6 years
Options Outstanding, Exercised, Contractual Life 0 years 0 years
Options Outstanding, Expired, Contractual Life 0 years 0 years
Options Outstanding and Exercisable, Contractual Life 0 years  
Options Outstanding, Contractual Life   6 years
Options Exercisable, Contractual Life   5 years 9 months 18 days
XML 47 R49.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Payments - Summary of Restricted Common Stock Activity (Details)
12 Months Ended
Dec. 31, 2019
USD ($)
shares
Share-based Payment Arrangement [Abstract]  
Non-vested shares, Beginning balance | shares
Non-vested shares, Granted | shares 8,000,000
Non-vested shares, Vested | shares (2,250,000)
Non-vested shares, Forfeited | shares
Non-vested shares, Ending balance | shares 5,750,000
Fair value of non-vested shares, Beginning balance | $
Fair value of non-vested shares, Granted | $ 4,000,000
Fair value of non-vested shares, Vested | $ (2,317,868)
Fair value of non-vested shares, Forfeited | $
Fair value of non-vested shares, Ending balance | $ $ 1,682,132
XML 48 R45.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes - Schedule of Effective Income Tax Rate (Details)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Income Tax Disclosure [Abstract]    
Federal tax at statutory rate 21.00% 21.00%
State tax, net of federal benefit 7.00% 7.00%
Change in valuation allowance (28.00%) (28.00%)
Effective income tax rate 0.00% 0.00%
XML 49 R41.htm IDEA: XBRL DOCUMENT v3.20.1
Convertible Notes Payable (Details Narrative) - USD ($)
1 Months Ended 9 Months Ended 12 Months Ended
Oct. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Proceeds from notes payable   $ 100,000
Repayment of convertible note   73,000
Derivative liabilities conversion features $ 565,195   400,139
Private placement costs   238,395
Derivative liabilities   400,139
Two Convertible Notes Payable [Member]      
Convertible notes payable issued   355,000
Proceeds from notes payable     326,800
Original issue discount     $ 28,200
Derivative liabilities conversion features 565,195    
Debt discount 326,800    
Private placement costs $ 238,395    
Number of returnable shares     705,000
Convertible Note One [Member]      
Repayment of convertible note     $ 73,000
Convertible note outstanding     $ 282,000
Debt interest percentage     12.00%
Debt instrument maturity date     Apr. 29, 2020
Convertible Note One [Member] | Minimum [Member]      
Debt conversion price percentage     39.00%
Convertible Note One [Member] | Maximum [Member]      
Debt conversion price percentage     40.00%
Convertible Note Two [Member]      
Convertible notes payable issued    
Original issue discount     $ 28,200
Convertible note outstanding     282,000
Debt discount     355,000
Derivative liabilities     326,800
Loan costs     54,990
Loan fee     224,660
Amortization of debt discount     185,330
One Convertible Notes Payable [Member] | Non-Returnable Shares [Member]      
Non-returnable fees recorded as a loan cost     $ 54,990
XML 51 R20.htm IDEA: XBRL DOCUMENT v3.20.1
Description of Business and Summary of Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Going Concern

Going Concern

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the year ended December 31, 2019, the Company incurred a net loss of $5,787,364 and used cash in operating activities of $2,221,320, and at December 31, 2019, the Company had a had a working capital deficiency of $113,909. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

At December 31, 2019, the Company had cash on hand in the amount of $433,143. Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and $30,000 for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing

Basis of Presentation and Principles of Consolidation

Basis of presentation and principles of Consolidation

 

The accompanying consolidated financial statements have been prepared in accordance with accounting standards generally accepted in the United States of America.

 

In December 2018, the Company its fiscal year end from March 31 to December 31. The transition period covering the nine-month period from April 1, 2018 to December 31, 2018 is included in the accompany consolidated financial statements.

 

The consolidated financial statements include the accounts of Quanta Inc, and its wholly-owned subsidiary, Bioanomaly, Inc. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

Use of estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, allowance for doubtful accounts receivable, impairment analysis of long-term assets, valuation allowance on deferred income taxes, assumptions used in valuing stock instruments issued for services, assumptions made in valuing derivative liabilities, and the accrual of potential liabilities. Actual results may differ from these estimates.

Accounts Receivable

Accounts Receivable

 

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts if deemed necessary, and payments are generally due within thirty to forty-five days of invoicing. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. At December 31, 2019 and December 31, 2018, the Company did not record any allowance for uncollectible accounts.

Inventories

Inventories

 

Inventories are stated at the lower of cost or net realizable value. We regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Additionally, our management’s estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess and obsolete inventory. At December 31, 2019 and 2018, the Company had no reserve for inventory obsolescence.

Equipment

Equipment

 

Equipment is stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the equipment, which is three years, using the straight-line method. Expenditures for major additions and improvements are capitalized and minor repairs and maintenance are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period.

 

Management assesses the carrying value of equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the year ended December 31, 2019 and for the nine-months period ended December 31, 2018, the Company determined there were no indicators of impairment of its property and equipment.

Revenue

Revenue

 

The Company follows the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

 

Product Sales—Revenue from sales of the Company’s CBD products is recognized at the point in time when the Company’s performance obligations with the applicable customers have been satisfied. At contract inception, the Company determines if the contract is within the scope of ASC Topic 606 and then evaluates the contract using the following five steps: (1) identify the contract with the customer; (2) identify the performance obligations; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue at the point in time when the entity satisfies a performance obligation.

 

Revenue is recorded at the transaction price, which is the amount of consideration the Company expects to receive in exchange for transferring products to a customer. Generally, the Company’s performance obligations are transferred to the customer at a point in time, typically upon delivery of products. The Company historically has offered no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against revenue.

 

The Company sells its products (i) directly to customers (“DTC”) through online orders from our websites, and DTC sales at conventions and events; and (ii) through wholesalers, including physicians, pharmacies, fitness studios, grocery stores, and other organizations.

 

License revenue— Revenue from symbolic IP is recognized over the access period to the Company’s IP (see Note 2).

 

Cost of goods sold includes direct costs and fees related to the sale of our products.

 

Disaggregated Revenue

 

The composition of the Company’s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:

 

    Year ended December 31, 2019     Nine-months ended December 31, 2018  
By Sales Channel:                
Direct to consumer   $ 443,916     $ 67,806  
Wholesale     793,284       157,448  
License Revenue     31,788       -  
    $ 1,268,988     $ 225,254  
                 
By Geographic Territory:                
California   $ 766,469     $ 156,974  
Other states     477,139       68,280  
International     25,380       -  
    $ 1,268,988     $ 225,254  

Leases

Leases

 

Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standard in effect for those periods. The adoption of ASC 842 on January 1, 2019 resulted in the recognition of operating lease right-of-use assets and lease liabilities of $420,112 and did not result in a cumulative-effect adjustment to accumulated deficit (see Note 5).

Derivative Financial Instruments

Derivative Financial Instruments

 

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments at inception and on subsequent valuation dates through the December 31, 2019, reporting date. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period

Income Taxes

Income taxes

 

The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

Stock Compensation

Stock Compensation

 

The Company issues stock options, warrants, shares of common stock, and restricted stock unit awards, as share-based compensation to employees and non-employees. The Company accounts for its share-based compensation to employees in accordance with FASB ASC 718, Compensation – Stock Compensation (Topic 718). Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite service period.

 

In periods through December 31, 2018, the Company accounted for share-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity - Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The final fair value of the share-based payment transaction is determined at the performance completion date. For interim periods, the fair value is estimated, and the percentage of completion is applied to that estimate to determine the cumulative expense recorded.

 

On January 1, 2019, the Company adopted ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 simplifies the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. The adoption of ASU 2018-07 did not have a material impact on the Company’s financial statements.

Advertising Costs

Advertising costs

 

Advertising costs are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, advertising costs totaled $103,401 and $27,529, respectively.

Research and Development Costs

Research and Development Costs

 

Costs incurred for research and development are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, research and development costs totaled $351,670 and 207,600, respectively and include salaries, benefits, and overhead costs of personnel conducting research and development of the Company’s products.

Net Loss Per Share

Net Loss per Share

 

Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Shares used in the calculation of basic net loss per common share include vested but unissued shares underlying awards of restricted common stock. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding warrants and convertible notes are exercised and the proceeds are used to purchase common stock at the average market price during the period. Warrants and convertible notes may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants.

 

For the year ended December 31, 2019, the dilutive impact of stock options exercisable into 3,290,000 shares of common stock, 8,000,000 shares of restricted stock to be issued, and convertible notes payable that can convert into 889,469 shares of common stock have been excluded from calculation of weighted average shares because their impact on the loss per share is anti-dilutive. For the year ended December 31, 2019, the dilutive impact of stock warrants exercisable into 3,000,000 shares of common stock have been excluded because their impact on the loss per share is anti-dilutive.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

 

The Company follows the authoritative guidance issued by the Financial Accounting Standards Board (“FASB”) for fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

 

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.

Level 3—Unobservable inputs based on the Company’s assumptions.

 

The Company is required to use of observable market data if such data is available without undue cost and effort.

 

The Company believes the carrying amount reported in the balance sheet for cash, accounts receivable, accounts payable and accrued liabilities, and notes payable, approximate their fair values because of the short-term nature of these financial instruments

 

As of December 31, 2019, the Company’s balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $400,139 (see Note 8).

Concentrations of Risks

Concentrations of risks

 

For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, no customer accounted for 10% or more of revenue. As of December 31, 2019, two customers accounted for 19% and 12% of accounts receivable, respectively, and no other customer accounted for 10% or more of accounts receivable. As of December 31, 2018, no customer accounted for more than 10% of accounts receivable.

 

Additionally, for the same periods, no vendor accounted for 10% or more of the Company’s cost of goods sold, or accounts payable at period-end.

 

The Company maintains the majority of its cash balances with one financial institution, in the form of demand deposits that are insured by the Federal Deposit Insurance Corporation, or FDIC. At times, deposits held may exceed the amount of insurance provided by the FDIC. The Company has not experienced any losses in its cash and believes it is not exposed to any significant credit risk.

Segments

Segments

 

The Company operates in one segment for the development and distribution of our CBD products. In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. Since the Company operates in one segment, all financial information required by “Segment Reporting” can be found in the accompanying financial statements.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The Company is currently assessing the impact of adopting this standard on the Company’s financial statements and related disclosures.

 

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

XML 52 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Description of Business and Summary of Significant Accounting Policies
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Description of Business and Summary of Significant Accounting Policies

NOTE 1 – DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Quanta, Inc (“the Company”) was incorporated as Freight Solution, Inc. (“Freight Solution”) on April 28, 2016 in the State of Nevada. Effective June 6, 2018, Bioanomaly Inc. (“Bioanomaly”) was acquired by Freight Solution pursuant to a merger agreement in which the shareholders of Bioanomaly exchanged all of the outstanding shares of Bioanomaly for 21,908,810 newly issued shares of Freight Solution’s common stock. Freight Solution shareholders retained 6,500,000 shares of common stock, which represented 23% of the issued and outstanding stock following the merger. The acquisition was accounted for as a reverse merger transaction. In connection with the closing of the merger, Freight Solution’s management was replaced by Bioanomaly’s management. On July 11, 2018, the Company changed its name to Quanta, Inc. The Company is an applied science company focused on increasing energy levels in plant matter to increase performance within the human body. The Company’s operations are based in Burbank, California.

 

Going Concern

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the year ended December 31, 2019, the Company incurred a net loss of $5,787,364 and used cash in operating activities of $2,221,320, and at December 31, 2019, the Company had a had a working capital deficiency of $113,909. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

At December 31, 2019, the Company had cash on hand in the amount of $433,143. Subsequent to December 31, 2019 the Company received $153,000 from the issuance of a convertible note payable and $30,000 for subscriptions to purchase shares of common stock. Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing

 

Basis of presentation and principles of Consolidation

 

The accompanying consolidated financial statements have been prepared in accordance with accounting standards generally accepted in the United States of America.

 

In December 2018, the Company its fiscal year end from March 31 to December 31. The transition period covering the nine-month period from April 1, 2018 to December 31, 2018 is included in the accompany consolidated financial statements.

 

The consolidated financial statements include the accounts of Quanta Inc, and its wholly-owned subsidiary, Bioanomaly, Inc. All intercompany balances and transactions have been eliminated in consolidation.

 

Use of estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, allowance for doubtful accounts receivable, impairment analysis of long-term assets, valuation allowance on deferred income taxes, assumptions used in valuing stock instruments issued for services, assumptions made in valuing derivative liabilities, and the accrual of potential liabilities. Actual results may differ from these estimates.

 

Accounts Receivable

 

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts if deemed necessary, and payments are generally due within thirty to forty-five days of invoicing. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. At December 31, 2019 and December 31, 2018, the Company did not record any allowance for uncollectible accounts.

 

Inventories

 

Inventories are stated at the lower of cost or net realizable value. We regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Additionally, our management’s estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess and obsolete inventory. At December 31, 2019 and 2018, the Company had no reserve for inventory obsolescence.

 

Equipment

 

Equipment is stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the equipment, which is three years, using the straight-line method. Expenditures for major additions and improvements are capitalized and minor repairs and maintenance are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period.

 

Management assesses the carrying value of equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the year ended December 31, 2019 and for the nine-months period ended December 31, 2018, the Company determined there were no indicators of impairment of its property and equipment.

 

Revenue

 

The Company follows the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

 

Product Sales—Revenue from sales of the Company’s CBD products is recognized at the point in time when the Company’s performance obligations with the applicable customers have been satisfied. At contract inception, the Company determines if the contract is within the scope of ASC Topic 606 and then evaluates the contract using the following five steps: (1) identify the contract with the customer; (2) identify the performance obligations; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue at the point in time when the entity satisfies a performance obligation.

 

Revenue is recorded at the transaction price, which is the amount of consideration the Company expects to receive in exchange for transferring products to a customer. Generally, the Company’s performance obligations are transferred to the customer at a point in time, typically upon delivery of products. The Company historically has offered no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against revenue.

 

The Company sells its products (i) directly to customers (“DTC”) through online orders from our websites, and DTC sales at conventions and events; and (ii) through wholesalers, including physicians, pharmacies, fitness studios, grocery stores, and other organizations.

 

License revenue— Revenue from symbolic IP is recognized over the access period to the Company’s IP (see Note 2).

 

Cost of goods sold includes direct costs and fees related to the sale of our products.

 

Disaggregated Revenue

 

The composition of the Company’s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:

 

    Year ended December 31, 2019     Nine-months ended December 31, 2018  
By Sales Channel:                
Direct to consumer   $ 443,916     $ 67,806  
Wholesale     793,284       157,448  
License Revenue     31,788       -  
    $ 1,268,988     $ 225,254  
                 
By Geographic Territory:                
California   $ 766,469     $ 156,974  
Other states     477,139       68,280  
International     25,380       -  
    $ 1,268,988     $ 225,254  

 

Leases

 

Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standard in effect for those periods. The adoption of ASC 842 on January 1, 2019 resulted in the recognition of operating lease right-of-use assets and lease liabilities of $420,112 and did not result in a cumulative-effect adjustment to accumulated deficit (see Note 5).

 

Derivative Financial Instruments

 

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments at inception and on subsequent valuation dates through the December 31, 2019, reporting date. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period

 

Income taxes

 

The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

 

Stock Compensation

 

The Company issues stock options, warrants, shares of common stock, and restricted stock unit awards, as share-based compensation to employees and non-employees. The Company accounts for its share-based compensation to employees in accordance with FASB ASC 718, Compensation – Stock Compensation (Topic 718). Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite service period.

 

In periods through December 31, 2018, the Company accounted for share-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity - Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The final fair value of the share-based payment transaction is determined at the performance completion date. For interim periods, the fair value is estimated, and the percentage of completion is applied to that estimate to determine the cumulative expense recorded.

 

On January 1, 2019, the Company adopted ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 simplifies the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. The adoption of ASU 2018-07 did not have a material impact on the Company’s financial statements.

 

Advertising costs

 

Advertising costs are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, advertising costs totaled $103,401 and $27,529, respectively.

 

Research and Development Costs

 

Costs incurred for research and development are expensed as incurred. During the year ended December 31, 2019 and the nine-month period ended December 31, 2018, research and development costs totaled $351,670 and 207,600, respectively and include salaries, benefits, and overhead costs of personnel conducting research and development of the Company’s products.

 

Net Loss per Share

 

Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Shares used in the calculation of basic net loss per common share include vested but unissued shares underlying awards of restricted common stock. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding warrants and convertible notes are exercised and the proceeds are used to purchase common stock at the average market price during the period. Warrants and convertible notes may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants.

 

For the year ended December 31, 2019, the dilutive impact of stock options exercisable into 3,290,000 shares of common stock, 8,000,000 shares of restricted stock to be issued, and convertible notes payable that can convert into 889,469 shares of common stock have been excluded from calculation of weighted average shares because their impact on the loss per share is anti-dilutive. For the year ended December 31, 2019, the dilutive impact of stock warrants exercisable into 3,000,000 shares of common stock have been excluded because their impact on the loss per share is anti-dilutive.

 

Fair Value of Financial Instruments

 

The Company follows the authoritative guidance issued by the Financial Accounting Standards Board (“FASB”) for fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

 

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.

Level 3—Unobservable inputs based on the Company’s assumptions.

 

The Company is required to use of observable market data if such data is available without undue cost and effort.

 

The Company believes the carrying amount reported in the balance sheet for cash, accounts receivable, accounts payable and accrued liabilities, and notes payable, approximate their fair values because of the short-term nature of these financial instruments

 

As of December 31, 2019, the Company’s balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $400,139 (see Note 8).

 

Concentrations of risks

 

For the year ended December 31, 2019 and the nine-month period ended December 31, 2018, no customer accounted for 10% or more of revenue. As of December 31, 2019, two customers accounted for 19% and 12% of accounts receivable, respectively, and no other customer accounted for 10% or more of accounts receivable. As of December 31, 2018, no customer accounted for more than 10% of accounts receivable.

 

Additionally, for the same periods, no vendor accounted for 10% or more of the Company’s cost of goods sold, or accounts payable at period-end.

 

The Company maintains the majority of its cash balances with one financial institution, in the form of demand deposits that are insured by the Federal Deposit Insurance Corporation, or FDIC. At times, deposits held may exceed the amount of insurance provided by the FDIC. The Company has not experienced any losses in its cash and believes it is not exposed to any significant credit risk.

 

Segments

 

The Company operates in one segment for the development and distribution of our CBD products. In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. Since the Company operates in one segment, all financial information required by “Segment Reporting” can be found in the accompanying financial statements.

 

Recent Accounting Pronouncements

 

In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The Company is currently assessing the impact of adopting this standard on the Company’s financial statements and related disclosures.

 

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

XML 53 R3.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Statement of Financial Position [Abstract]    
Notes payable $ 55,850  
Convertible note payable, discount $ 224,660  
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized 25,000,000 25,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 49,087,255 39,200,090
Common stock, shares outstanding 49,087,255 39,200,090
Shares to be issued, shares 7,318,519 612,000
XML 54 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Operating Lease (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

 

   

Year ended

December 31, 2019

 
Lease Cost        
Operating lease cost (included in selling, general, and administrative expense in the Company’s statement of operations)   $ 107,588  
         
Other Information        
Cash paid for amounts included in the measurement of lease liabilities for 2019   $ 98,375  
Weighted average remaining lease term – operating leases (in years)     3.5  
Average discount rate – operating leases     4 %

Schedule of Supplemental Balance Sheet Information Related to Leases

The supplemental balance sheet information related to leases for the period is as follows:

 

    At December 31, 2019  
Operating leases        
Long-term right-of-use assets   $ 332,980  
         
Short-term operating lease liabilities   $ 85,662  
Long-term operating lease liabilities     251,791  
Total operating lease liabilities   $ 337,453  

Schedule of Maturities of Operating Lease Liabilities

Maturities of the Company’s lease liabilities are as follows:

 

Year Ending   Operating Leases  
2020   $ 97,625  
2021     102,506  
2022     107,632  
2023     55,126  
Total lease payments     362,889  
Less: Imputed interest/present value discount     (25,436 )
Present value of lease liabilities     337,453  
Less current portion     (85,662 )
Operating lease liabilities, long-term   $ 251,791  

XML 55 R28.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Payments (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Common Stock Activity

The following table summarizes restricted common stock activity for the year ended December 31, 2019:

 

    Number of shares     Fair value of shares  
Non-vested shares, January 1, 2019     -     $ -  
Granted     8,000,000       4,000,000  
Vested     (2,250,000 )     (2,317,868 )
Forfeited     -       -  
Non-vested shares, December 31, 2019     5,750,000     $ 1,682,132  

Schedule of Stock Option Activity

A summary of stock option activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:

 

      Number of warrants     Weighted Average
Exercise Price
    Contractual
Life in Years
 
                     
Options Outstanding and Exercisable as of March 31, 2018       -     $ -       -  
Granted       -     $ -       -  
Exercised       -       -       -  
Expired       -       -       -  
Options Outstanding and Exercisable as of December 31, 2018       -     $ -       -  
Granted       3,290,000       0.23       6.0  
Exercised       -       -       -  
Expired       -       -       -  
Options Outstanding as of December 31, 2019       3,290,000       0.23       6.0  
Options Exercisable as of December 31, 2019       1,800,000     $ 0.23       5.8  

Schedule of Warrant Activity

A summary of warrant activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:

 

      Number of warrants     Weighted Average
Exercise Price
    Contractual
Life in Years
 
                     
Warrants Outstanding and Exercisable as of March 31, 2018       -     $ -       -  
Granted       3,000,000     $ 0.30       4.00  
Exercised       -       -       -  
Expired       -       -       -  
Warrants Outstanding and Exercisable as of December 31, 2018       3,000,000     $ 0.30       4.00  
Granted       -       -       -  
Exercised       (3,000,000 )   $ 0.30       -  
Expired       -       -       -  
Warrants Outstanding and Exercisable as of December 31, 2019       -     $ -       -  

XML 56 R44.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Income tax expenses
Increase in valuation allowance 500,000 1,500,000
Federal, net operating loss forwards 1,600,000 4,300,000
State, net operating loss forwards 1,100,000 3,100,000
Unrecognized tax benefits
Foreign Tax Authority [Member]    
Federal carryforwards, description   Expire on various dates through 2039.
State and Local Jurisdiction [Member]    
Federal carryforwards, description   Expire through 2036.
XML 57 R40.htm IDEA: XBRL DOCUMENT v3.20.1
Notes Payable - Schedule of Notes Payable (Details) (Parenthetical)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Note Payable One [Member]    
Note payable due date Jan. 13, 2019 Jan. 13, 2019
Note payable interest rate 8.30% 8.30%
Note Payable Two [Member]    
Note payable due date Jan. 06, 2019 Jan. 06, 2019
Note payable interest rate 10.00% 10.00%
XML 58 R48.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Payments (Details Narrative) - USD ($)
9 Months Ended 12 Months Ended
May 20, 2019
Dec. 31, 2018
Dec. 31, 2019
Number of restricted common stock issued     8,000,000
Number of restricted common stock vested     2,250,000
Number of stock issued for services, shares   194,030 2,424,121
Number of options issued   3,290,000
Options exercise price   $ 0.23
Options term     6 years
Warrants [Member]      
Stock price   $ 0.20  
Expected term   4 years  
Volatility   170.00%  
Dividend rate   0.00%  
Risk-free interest rate   1.76%  
Number of warrants issued   3,000,000  
Warrants exercise price   $ 0.30  
Warrants expiration period   Expire in 2022  
Fair value of warrants   $ 377,000  
Cashless exercise warrants   3,000,000  
Consultant [Member]      
Number of stock issued for services     $ 212,505
Number of stock issued for services, shares     106,253
Restricted Stock [Member]      
Number of restricted common stock issued 8,000,000  
Number of restricted common stock vested 1,000,000   2,250,000
Restricted common stock vested, description 1,000,000 shares vested immediately, and the balance of 7,000,000 shares will vest 625,000 shares per quarter over 2.8 years.    
Restricted common stock vesting term 2 years 9 months 18 days   2 years 3 months 19 days
Fair value of restricted common stock $ 4,000,000    
Share-based expense     $ 2,317,868
Unvested compensation     1,628,132
Restricted Stock [Member] | Per Quarter [Member]      
Number of restricted common stock vested 625,000    
Stock Options [Member]      
Share-based expense     711,404
Unvested compensation     $ 468,000
Number of options issued     3,290,000
Number of options vested     1,800,000
Number of options non vested     1,490,000
Options vesting term     4 years
Options exercise price     $ 0.23
Options term     10 years
Fair value of options     $ 1,179,000
Dividend rate     0.00%
Risk-free interest rate     1.77%
Options outstanding, aggregate intrinsic     $ 322,749
Stock Options [Member] | Minimum [Member]      
Stock price     $ 0.23
Expected term     5 years
Volatility     213.00%
Stock Options [Member] | Maximum [Member]      
Stock price     $ 0.38
Expected term     7 years
Volatility     218.00%
XML 59 R29.htm IDEA: XBRL DOCUMENT v3.20.1
Description of Business and Summary of Significant Accounting Policies (Details Narrative)
3 Months Ended 9 Months Ended 12 Months Ended
Jun. 06, 2018
shares
Mar. 30, 2020
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2019
USD ($)
Segments
shares
Dec. 31, 2018
USD ($)
Oct. 31, 2019
USD ($)
Jan. 02, 2019
USD ($)
Number of offering shares of common stock | shares       12,011,269      
Net loss     $ (1,613,972) $ (5,787,364)      
Net cash used in operating activities     (1,028,501) (2,221,320)      
Working capital deficiency       113,909      
Cash on hand     35,820 433,143 $ 35,820    
Proceeds from issuance of convertible note payable     326,800      
Allowance of uncollectible accounts        
Inventory reserve        
Estimated useful lives of equipment       3 years      
Impairment of property plant and equipment          
Operating lease right-of-use assets     332,980    
Operating lease liabilities     85,662    
Advertising costs     27,529 103,401      
Research and development costs     $ 207,600 351,670      
Derivative liability fair value       $ 400,139   $ 565,195  
Operating segments | Segments       1      
Accounts Receivable [Member] | Customer One [Member]              
Concentration risk percentage       19.00%      
Accounts Receivable [Member] | Customer Two [Member]              
Concentration risk percentage       12.00%      
Accounts Receivable [Member] | No Other Customer [Member]              
Concentration risk percentage       10.00% 10.00%    
No Customer [Member] | Revenue Benchmark [Member]              
Concentration risk percentage     10.00% 10.00%      
No Vendor [Member] | Accounts Payable [Member]              
Concentration risk percentage       10.00%      
Convertible Notes Payable [Member]              
Potentially dilutive shares outstanding | shares       889,469      
Restricted Stock [Member]              
Potentially dilutive shares outstanding | shares       8,000,000      
Stock Options [Member]              
Potentially dilutive shares outstanding | shares       3,290,000      
Warrants [Member]              
Potentially dilutive shares outstanding | shares       3,000,000      
ASC 842 [Member]              
Operating lease right-of-use assets             $ 420,112
Operating lease liabilities             $ 420,112
Subsequent Event [Member]              
Proceeds from issuance of convertible note payable   $ 153,000          
Subscription for shares of common stock received   $ 30,000          
Freight Solution [Member]              
Shares issued and outstanding percentage 23.00%            
Bioanomaly, Inc. [Member]              
Business acquisition number of shares issued | shares 21,908,810            
Number of offering shares of common stock | shares 6,500,000            
XML 60 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES:    
Net loss $ (1,613,972) $ (5,787,364)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 86,875 173,902
Fair value of shares issued for services 194,030 2,424,121
Fair value of vested options 711,404
Fair value of warrants issued for services 376,510
Extinguishment of derivative liabilities (145,565)
Change in fair value of derivatives (19,491)
Private placement costs 238,395
Amortization of convertible note discount 185,330
Gain on forgiveness of accrued interest (21,000)
Gain on extinguishment of debt (41,000)
Amortization of operating lease right-of-use asset 87,132
Changes in operating assets and liabilities:    
Accounts receivable (19,561) (8,699)
Inventories (122,519)
Prepaid expenses (7,500)
Accounts payable and accrued liabilities 9,617 63,981
Deferred revenue, license agreement 68,212
Operating lease liabilities (82,659)
Net cash used in operating activities (1,028,501) (2,221,320)
CASH FLOW FROM INVESTING ACTIVITIES:    
Purchase of equipment (175,000) (114,500)
Payment of security deposit (16,770) (16,882)
Net cash used in investment activities (191,770) (131,382)
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds from shares issued for cash 1,300,018 2,090,375
Proceeds from shares to be issued 306,000 530,000
Proceeds from convertibles notes payable 326,800
Proceeds from notes payable 100,000
Principal payments of notes payable (124,150)
Principal payment of convertible note payable (73,000)
Costs of recapitalization (495,760)
Net cash provided by financing activities 1,210,258 2,750,025
Decrease in cash (10,013) 397,323
Cash and cash equivalents, beginning of period 45,833 35,820
Cash and cash equivalents, end of period 35,820 433,143
Supplemental Disclosures of Cash Flow Information:    
Cash paid for taxes 1,600 800
Cash paid for Interest 15,080
Non-cash investing and financing activities    
Derivative liabilities allocated to convertible note discount 326,800
Original issue discount 28,200
Fair value of shares issued for loan fee 54,990
Shares issued for cashless exercise of warrant 2,590
Fair value of shares issued for settlement of convertible notes payable $ 1,015,000
XML 61 R21.htm IDEA: XBRL DOCUMENT v3.20.1
Description of Business and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Disaggregated Revenue

The composition of the Company’s net revenues recognized during the year ended December 31, 2019 and the nine-month period ended December 31, 2018, disaggregated by source and nature, are as follows:

 

    Year ended December 31, 2019     Nine-months ended December 31, 2018  
By Sales Channel:                
Direct to consumer   $ 443,916     $ 67,806  
Wholesale     793,284       157,448  
License Revenue     31,788       -  
    $ 1,268,988     $ 225,254  
                 
By Geographic Territory:                
California   $ 766,469     $ 156,974  
Other states     477,139       68,280  
International     25,380       -  
    $ 1,268,988     $ 225,254  

XML 62 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Notes Payable (Tables)
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Notes Payable

    December 31, 2019     December 31, 2018  
             
Note payable, in default, due January 13, 2019, interest at 8.3% per annum, secured by all the assets of the Company. As of the date of the financial statements, the note has not been fully paid, and the Company is in negotiations with the lender to cure this default.   $ 55,850     $ 80,000  
                 
Note payable, unsecured, due January 6, 2019, interest at 10% per year. The note was paid off in 2019.     -       100,000  
                 
Total notes payable (all current portion)   $ 55,850     $ 180,000  

XML 63 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 433,143 $ 35,820
Accounts receivable 28,260 19,561
Inventories 122,519
Prepaid expenses 7,500
Total current assets 591,422 55,381
Equipment, net 313,478 372,880
Operating lease right-of-use asset 332,980
Security deposits 33,652 16,770
Total assets 1,271,532 445,031
Current liabilities:    
Accounts payable and accrued expenses 73,598 9,617
Notes payable ($55,850 in default at December 31, 2019) 55,850 180,000
Deferred revenue, license agreement 32,742
Operating lease liabilities 85,662
Convertible note payable (net of discount of $224,660) 57,340
Derivative liabilities 400,139
Total current liabilities 705,331 189,617
Long term liabilities    
Deferred revenue, licenses agreement, long-term 35,470
Operating lease liabilities, long-term 251,791
Total liabilities 992,592
Stockholders' equity:    
Preferred stock, $0.001 par value; 25,000,000 shares authorized; none issued or outstanding
Common stock, $0.001 par value; 100,000,000 shares authorized; 49,087,255 and 39,200,090 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively 49,087 39,200
Shares to be issued (7,318,519 and 612,000 shares to be issued as of December 31, 2019 and December 31, 2018, respectively) 2,847,868 306,000
Additional paid-in capital 5,619,733 2,360,598
Accumulated deficit (8,237,748) (2,450,384)
Total stockholders' equity 278,940 255,414
Total liabilities and stockholders' equity $ 1,271,532 $ 445,031
XML 64 R13.htm IDEA: XBRL DOCUMENT v3.20.1
Convertible Notes Payable
12 Months Ended
Dec. 31, 2019
Convertible Notes Payable  
Convertible Notes Payable

NOTE 7 – CONVERTIBLE NOTES PAYABLE

 

At December 31, 2018, there was no balance of convertible notes payable. During 2019, the Company issued two convertible promissory notes for the principal sum of $355,000, of which $326,800 was received as proceeds, and $28,200 was recorded as original issue discount (OID). During 2019, one convertible note for $73,000 was repaid. At December 31, 2019, one convertible note for $282,000 was outstanding. The outstanding note is unsecured, bears interest at 12%, and is due April 29, 2020.

 

At the option of the holders, the notes issued in 2019 are convertible into shares of the Company’s common stock at a price per share discount of 39% to 40% of the average market price of the Company’s common stock, as defined. As a result, the Company determined that the conversion option of the convertible notes were not considered indexed to the Company’s own stock and characterized the fair value of the conversion features as derivative liabilities upon issuance. The Company determined that upon issuance of the convertible notes in October 2019, the initial fair value of the embedded conversion features totaled $565,195 (see Note 8), of which $326,800 was recorded as debt discount offsetting the face amount of the convertible notes, and the remainder of $238,395 was recorded as private placement costs.

 

At December 31, 2018, there was no balance of discount on convertible notes payable. During 2019, note discount of $355,000 was recorded, made up of $28,200 OID and $326,800 of discount related to derivative liabilities. In addition, $54,990 of loan costs recorded on one convertible note (see below) are included with the discount. The discount and loan costs are amortized over the term of the related note payable. During 2019, total debt discount and loan costs amortization was $185,330, and at December 31, 2019, the unamortized debt discount and loan fee totaled $224,660.

 

In connection with the issuance of one convertible note with the principal balance of $282,000, the Company issued as a commitment fee 141,000 shares of its common stock (the “Non-Returnable Shares”) as well as 705,000 shares of its common stock (the “Returnable Shares”). The Company recorded the fair value of the Non-Returnable fees of $54,990 as a loan cost. The Returnable Shares are an own-share lending arrangement issued in contemplation of a debt offering and such shares will be returned to the Company if no event of default has occurred prior to April 29, 2020, the maturity date of the note. At issuance, the fair value of the share lending arrangement was determined to be immaterial. In accordance with ASC 470-20, the shares are not deemed issued until it becomes more likely than not that they will not be returned and at such point the shares should be measured at fair value and such value recognized as a financing cost. At December 31, 2019, management determined that it is probable that the Company will pay the note in full when due, and meet all other conditions in the note agreement. Accordingly, management feels that it is more likely than not that the returnable shares will be returned to the Company and therefore the 705,000 Returnable Shares have not been recorded as being issued as of December 31, 2019, nor are they included in basic net loss per share or as potentially dilutive shares in calculating the diluted net loss per share.

XML 65 R17.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Payments
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Share-Based Payments

NOTE 11 – SHARE-BASED PAYMENTS

 

Restricted common stock

 

On May 20, 2019, the Company agreed to issue 8,000,000 shares of the Company’s common stock with vesting terms to a consultant for services (see Note 12). 1,000,000 shares vested immediately, and the balance of 7,000,000 shares will vest 625,000 shares per quarter over 2.8 years. In the event the consultants service with the Company terminates, any or all of the shares of common stock held by such recipient that have not vested as of the date of termination are forfeited to the Company in accordance with such restricted grant agreement.

 

The total fair value of the 8,000,000 shares was determined to be $4,000,000 based on the price per shares of a contemporaneous private placement of the Company’s common stock on the date granted. The Company accounts for the share awards using a graded vesting attribution method over the requisite service period, as if each tranche were a separate award. During the year ended December 31, 2019, total share-based expense recognized related to vested restricted shares totaled $2,317,868. At December 31, 2019, there was $1,628,132 of unvested compensation related to these awards that will be amortized over a remaining vesting period of 2.3 years.

 

The following table summarizes restricted common stock activity for the year ended December 31, 2019:

 

    Number of shares     Fair value of shares  
Non-vested shares, January 1, 2019     -     $ -  
Granted     8,000,000       4,000,000  
Vested     (2,250,000 )     (2,317,868 )
Forfeited     -       -  
Non-vested shares, December 31, 2019     5,750,000     $ 1,682,132  

 

As of December 31, 2019, no shares have been issued and 2,250,000 vested shares are included in shares to be issued on the accompanying financial statements

 

Common stock issued for services

 

During the year ended December 31, 2019, the Company issued 212,505 shares of common stock to a consultant for services rendered. The shares were valued at $106,253 based on the price per share of a contemporaneous private placement of the Company’s common stock on the date granted and included in selling, general, and administrative expense on the accompanying financial statements.

 

Stock Options

 

During the year ended December 31, 2019, the Company issued options exercisable into 3,290,000 shares of common stock. 1,800,000 options vested immediately, and the balance of 1,490,000 options vest over various periods up to four years. The options have an exercise price of $0.23 per share, and expire in ten years. Total fair value of these options at grant date was approximately $1,179,000, which was determined using the Black-Scholes-Merton option pricing model with the following average assumption: stock price ranging from $0.23 to $0.38 per share, expected term ranging from five to seven years, volatility ranging from 213% to 218%, dividend rate of 0% and risk-free interest rate of 1.77%. During the year ended December 31, 2019, the Company recognized $711,404 of compensation expense relating to vested stock options. As of December 31, 2019, the amount of unvested compensation related to stock options was approximately $468,000 which will be recorded as an expense in future periods as the options vest.

 

The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future.

 

A summary of stock option activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:

 

      Number of warrants     Weighted Average
Exercise Price
    Contractual
Life in Years
 
                     
Options Outstanding and Exercisable as of March 31, 2018       -     $ -       -  
Granted       -     $ -       -  
Exercised       -       -       -  
Expired       -       -       -  
Options Outstanding and Exercisable as of December 31, 2018       -     $ -       -  
Granted       3,290,000       0.23       6.0  
Exercised       -       -       -  
Expired       -       -       -  
Options Outstanding as of December 31, 2019       3,290,000       0.23       6.0  
Options Exercisable as of December 31, 2019       1,800,000     $ 0.23       5.8  

 

At December 31, 2019, the aggregate intrinsic value of the stock options was $322,749.

 

Stock Warrants

 

In 2018, the Company issued warrants exercisable into 3,000,000 shares of common stock. The warrants were fully vested when issued, have an exercise price of $0.30 per share, and expire in 2022. Total fair value of these warrants at grant date was approximately $377,000, which was determined using the Black-Scholes-Merton option pricing model with the following average assumption: stock price of $0.20 per share, expected term of four years, volatility of 170%, dividend rate of 0% and risk-free interest rate of 1.76%. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future. During the year ended December 31, 2019, there was a cashless exercise of all of the 3,000,000 warrants.

 

A summary of warrant activity during the year ended December 31, 2019 and the nine-month period ended December 31, 2018 is as follows:

 

      Number of warrants     Weighted Average
Exercise Price
    Contractual
Life in Years
 
                     
Warrants Outstanding and Exercisable as of March 31, 2018       -     $ -       -  
Granted       3,000,000     $ 0.30       4.00  
Exercised       -       -       -  
Expired       -       -       -  
Warrants Outstanding and Exercisable as of December 31, 2018       3,000,000     $ 0.30       4.00  
Granted       -       -       -  
Exercised       (3,000,000 )   $ 0.30       -  
Expired       -       -       -  
Warrants Outstanding and Exercisable as of December 31, 2019       -     $ -       -  

ZIP 66 0001493152-20-005808-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001493152-20-005808-xbrl.zip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
XML 68 R30.htm IDEA: XBRL DOCUMENT v3.20.1
Description of Business and Summary of Significant Accounting Policies - Schedule of Disaggregated Revenue (Details) - USD ($)
9 Months Ended 12 Months Ended
Jan. 22, 2019
Dec. 31, 2018
Dec. 31, 2019
Net revenues recognized $ 100,000 $ 225,254 $ 1,268,988
California [Member]      
Net revenues recognized   156,974 67,806
Other States [Member]      
Net revenues recognized   68,280 157,448
International [Member]      
Net revenues recognized  
Direct to Consumer [Member]      
Net revenues recognized   766,469 443,916
Wholesale [Member]      
Net revenues recognized   477,139 793,284
License Revenue [Member]      
Net revenues recognized   $ 25,380 $ 31,788
XML 69 R38.htm IDEA: XBRL DOCUMENT v3.20.1
Operating Lease - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Leases [Abstract]    
2020 $ 97,625  
2021 102,506  
2022 107,632  
2023 55,126  
Total lease payments 362,889  
Less: Imputed interest/present value discount (25,436)  
Present value of lease liabilities 337,453  
Less current portion (85,662)
Operating lease liabilities, long-term $ 251,791
XML 70 R51.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Payments - Schedule of Warrant Activity (Details) - $ / shares
9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]    
Number of Warrants Outstanding and Exercisable, Beginning Balance 3,000,000
Number of Warrants Outstanding and Exercisable, Granted 3,000,000
Number of Warrants Outstanding and Exercisable, Exercised (3,000,000)
Number of Warrants Outstanding and Exercisable, Expired
Number of Warrants Outstanding and Exercisable, Ending Balance 3,000,000
Warrants Weighted Average Exercise Price, Beginning Balance $ 0.30
Warrants Weighted Average Exercise Price, Granted 0.30
Warrants Weighted Average Exercise Price, Exercised 0.30
Warrants Weighted Average Exercise Price, Expired
Warrants Weighted Average Exercise Price, Ending Balance $ 0.30
Warrants Contractual Life in Years, Beginning Balance 0 years 4 years
Warrants Contractual Life in Years, Granted 4 years 0 years
Warrants Contractual Life in Years, Exercised 0 years 0 years
Warrants Contractual Life in Years, Expired 0 years 0 years
Warrants Contractual Life in Years, Ending Balance 4 years 0 years

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end XML 67 R34.htm IDEA: XBRL DOCUMENT v3.20.1
Equipment - Schedule of Equipment (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Equipment, gross $ 637,000 $ 522,500
Less accumulated depreciation (323,522) (149,620)
Equipment, net 313,478 372,880
Machinery-technology Equipment [Member]    
Equipment, gross 607,000 347,500
Machinery-technology Equipment Under Construction [Member]    
Equipment, gross $ 30,000 $ 175,000