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10-Q Filing

MARIJUANA CO OF AMERICA, INC. CIK: 1078799 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001079973-22-000587
Period End Date 20220331
Filing Date 20220516
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance mcoa_10q-033122_htm.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Convertible note payable, net of debt discount DebtInstrumentUnamortizedDiscountCurrent $1.66M USD Point-in-time
Convertible note payable, net of debt discount DebtInstrumentUnamortizedDiscountCurrent $3.46M USD Point-in-time
Preferred stock, par value per share PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value per share PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $243.71K USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $104.02K USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $410.45K USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $211.29K USD Point-in-time
Inventory InventoryNet $206.19K USD Point-in-time
Inventory InventoryNet $252.20K USD Point-in-time
Common stock, par value per share CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Prepaid Insurance PrepaidInsurance $29.77K USD Point-in-time
Common stock, par value per share CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Prepaid Insurance PrepaidInsurance $61.70K USD Point-in-time
Other current assets OtherAssetsCurrent $2.09M USD Point-in-time
Other current assets OtherAssetsCurrent $2.13M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 15.00B shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 15.00B shares Point-in-time
Total current assets AssetsCurrent $2.76M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 9.44B shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 7.12B shares Point-in-time
Total current assets AssetsCurrent $2.98M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $121.59K USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 7.12B shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 9.44B shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $117.24K USD Point-in-time
Common stock to be issued CommonStockToBeIssue 1.00M shares Point-in-time
Common stock to be issued CommonStockToBeIssue 1.00M shares Point-in-time
Long-term Investments LongTermInvestments $2.33M USD Point-in-time
Long-term Investments LongTermInvestments $2.30M USD Point-in-time
Goodwill Goodwill $1.63M USD Point-in-time
Goodwill Goodwill $1.63M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.06M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.11M USD Point-in-time
Security deposit SecurityDeposit $4.54K USD Point-in-time
Security deposit SecurityDeposit $4.54K USD Point-in-time
Total assets Assets $7.96M USD Point-in-time
Total assets Assets $8.11M USD Point-in-time
Accounts payable AccountsPayableCurrent $932.76K USD Point-in-time
Accounts payable AccountsPayableCurrent $1.18M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $57.56K USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $42.92K USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $304.74K USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $270.69K USD Point-in-time
Notes payable, related parties NotesPayableRelatedPartiesClassifiedCurrent $20.00K USD Point-in-time
Notes payable, related parties NotesPayableRelatedPartiesClassifiedCurrent $20.00K USD Point-in-time
Convertible notes payable, net of debt discount of $3,459,479 and $1,659,622, respectively ConvertibleNotesPayableCurrent $3.77M USD Point-in-time
Convertible notes payable, net of debt discount of $3,459,479 and $1,659,622, respectively ConvertibleNotesPayableCurrent $4.16M USD Point-in-time
Contingent Liability - Acquisition ContingentLiabilityAcquisition $703.84K USD Point-in-time
Contingent Liability - Acquisition ContingentLiabilityAcquisition $953.84K USD Point-in-time
Subscriptions payable SubscriptionsPayable $754.96K USD Point-in-time
Subscriptions payable SubscriptionsPayable $989.59K USD Point-in-time
Derivative liability DerivativeLiabilitiesCurrent $749.76K USD Point-in-time
Derivative liability DerivativeLiabilitiesCurrent $1.65M USD Point-in-time
Total current liabilities LiabilitiesCurrent $7.73M USD Point-in-time
Total current liabilities LiabilitiesCurrent $8.83M USD Point-in-time
Total liabilities Liabilities $7.73M USD Point-in-time
Total liabilities Liabilities $8.83M USD Point-in-time
Common stock, $0.001 par value; 15,000,000,000 shares authorized; 9,439,551,063 and 7,122,806,264 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively CommonStockValue $7.12M USD Point-in-time
Common stock, $0.001 par value; 15,000,000,000 shares authorized; 9,439,551,063 and 7,122,806,264 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively CommonStockValue $9.44M USD Point-in-time
Common stock to be issued, 1,000,000 and 1,000,000 shares, respectively CommonStockToBeIssued $1.00K USD Point-in-time
Common stock to be issued, 1,000,000 and 1,000,000 shares, respectively CommonStockToBeIssued $1.00K USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $89.61M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $89.63M USD Point-in-time
Accumulated other Comprehensive Income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-14.27K USD Point-in-time
Accumulated other Comprehensive Income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-11.72K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-99.79M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-96.50M USD Point-in-time
Total stockholders' deficit StockholdersEquity $-5.46M USD Point-in-time
Total stockholders' deficit StockholdersEquity $-720.85K USD Point-in-time
Total stockholders' deficit StockholdersEquity $-1.15M USD Point-in-time
Total stockholders' deficit StockholdersEquity $230.89K USD Point-in-time
Total liabilities and stockholders' deficit LiabilitiesAndStockholdersEquity $7.96M USD Point-in-time
Total liabilities and stockholders' deficit LiabilitiesAndStockholdersEquity $8.11M USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Sales Sales $34.93K USD 1 Quarter
Sales Sales $561.32K USD 1 Quarter
Total Revenues Revenues $34.93K USD 1 Quarter
Total Revenues Revenues $561.32K USD 1 Quarter
Cost of sales CostOfRevenue $510.26K USD 1 Quarter
Cost of sales CostOfRevenue $25.18K USD 1 Quarter
Gross Profit GrossProfit $51.06K USD 1 Quarter
Gross Profit GrossProfit $9.75K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $51.05K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $1.39K USD 1 Quarter
Selling and marketing SellingAndMarketingExpense $107.55K USD 1 Quarter
Selling and marketing SellingAndMarketingExpense $81.37K USD 1 Quarter
Payroll and related SalariesAndWages $276.91K USD 1 Quarter
Payroll and related SalariesAndWages $138.15K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $9.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $19.90K USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $468.52K USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $525.68K USD 1 Quarter
Total operating expenses OperatingExpenses $792.67K USD 1 Quarter
Total operating expenses OperatingExpenses $886.85K USD 1 Quarter
Net loss from operations OperatingIncomeLoss $-835.79K USD 1 Quarter
Net loss from operations OperatingIncomeLoss $-782.92K USD 1 Quarter
Interest expense, net InterestExpense $1.25M USD 1 Quarter
Interest expense, net InterestExpense $1.10M USD 1 Quarter
Gain (loss) on change in fair value of derivative liabilities DerivativeLossOnDerivatives $2.33M USD 1 Quarter
Gain (loss) on change in fair value of derivative liabilities DerivativeLossOnDerivatives $1.03M USD 1 Quarter
Unrealized Gain (loss) on trading securities TradingSecuritiesUnrealizedHoldingGainLoss - USD 1 Quarter
Unrealized Gain (loss) on trading securities TradingSecuritiesUnrealizedHoldingGainLoss $620.13K USD 1 Quarter
Realized Gain (loss) on trading securities DebtSecuritiesTradingRealizedGainLoss - USD 1 Quarter
Realized Gain (loss) on trading securities DebtSecuritiesTradingRealizedGainLoss $6.09K USD 1 Quarter
(Loss) Gain on settlement of debt GainsLossesOnExtinguishmentOfDebt $-68.23K USD 1 Quarter
(Loss) Gain on settlement of debt GainsLossesOnExtinguishmentOfDebt $-187.50K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-2.88M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-2.45M USD 1 Quarter
Net loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-3.66M USD 1 Quarter
Net loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-3.29M USD 1 Quarter
Income taxes (benefit) IncomeTaxExpenseBenefit - USD 1 Quarter
Income taxes (benefit) IncomeTaxExpenseBenefit - USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $-3.29M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $-3.66M USD 1 Quarter
Foreign currency Translation Adjustment OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax - USD 1 Quarter
Foreign currency Translation Adjustment OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-2.55K USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTax $-3.29M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTax $-3.66M USD 1 Quarter
Loss per common share, basic and diluted LossPerCommonShareBasicAndDiluted - USD 1 Quarter
Loss per common share, basic and diluted LossPerCommonShareBasicAndDiluted - USD 1 Quarter
Weighted average number of common shares outstanding, basic and diluted (after stock-split) WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted 4.03B shares 1 Quarter
Weighted average number of common shares outstanding, basic and diluted (after stock-split) WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted 8.16B shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net Income (Loss) NetIncomeLoss $-3.29M USD 1 Quarter
Net Income (Loss) NetIncomeLoss $-3.66M USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $761.71K USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $311.71K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $51.05K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.39K USD 1 Quarter
Loss on equity investment LossOnEquityInvestment - USD 1 Quarter
Loss on equity investment LossOnEquityInvestment $735.18K USD 1 Quarter
Loss (Gain) on change in fair value of derivative liability DerivativeLossOnDerivatives $2.33M USD 1 Quarter
Loss (Gain) on change in fair value of derivative liability DerivativeLossOnDerivatives $1.03M USD 1 Quarter
Interest expense recognized for the excess of fair value of derivative liability over net book value of notes payable at issuance OtherNoncashExpense $157.56K USD 1 Quarter
Interest expense recognized for the excess of fair value of derivative liability over net book value of notes payable at issuance OtherNoncashExpense $694.75K USD 1 Quarter
Stock-based compensation StockbasedCompensation $10.90K USD 1 Quarter
Stock-based compensation StockbasedCompensation $234.63K USD 1 Quarter
Unrealized (Gain) Loss on trading securities UnrealizedGainLossOnTradingSecurities - USD 1 Quarter
Unrealized (Gain) Loss on trading securities UnrealizedGainLossOnTradingSecurities $620.13K USD 1 Quarter
Loss on settlement of liabilities GainLossOnSettlementOfDebt $-187.50K USD 1 Quarter
Loss on settlement of liabilities GainLossOnSettlementOfDebt $-71.65K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $199.16K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.83K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-46.01K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-12.21K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-71.23K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $29.82K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-692.42K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $74.18K USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $231.96K USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-159.06K USD 1 Quarter
Right-of-use assets IncreaseDecreaseInOtherNoncurrentAssets $-3.88K USD 1 Quarter
Right-of-use assets IncreaseDecreaseInOtherNoncurrentAssets - USD 1 Quarter
Right-of-use liabilities IncreaseDecreaseInRightofuseLiabilities $-3.88K USD 1 Quarter
Right-of-use liabilities IncreaseDecreaseInRightofuseLiabilities - USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-962.36K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-678.11K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.70K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.03K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-1.70K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-2.03K USD 1 Quarter
Proceeds from issuance of notes payable ProceedsFromNotesPayable $526.76K USD 1 Quarter
Proceeds from issuance of notes payable ProceedsFromNotesPayable $535.00K USD 1 Quarter
Repayments of notes payable RepaymentsOfNotesPayable $233.57K USD 1 Quarter
Repayments of notes payable RepaymentsOfNotesPayable $230.13K USD 1 Quarter
Repayments to related parties RepaymentsOfRelatedPartyDebt - USD 1 Quarter
Repayments to related parties RepaymentsOfRelatedPartyDebt $20.00K USD 1 Quarter
Proceeds from sale of common stock ProceedsFromIssuanceOrSaleOfEquity $1.25M USD 1 Quarter
Proceeds from sale of common stock ProceedsFromIssuanceOrSaleOfEquity $528.85K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $1.53M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $822.04K USD 1 Quarter
Foreign exchange impact on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-2.55K USD 1 Quarter
Foreign exchange impact on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations - USD 1 Quarter
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $139.69K USD 1 Quarter
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $565.48K USD 1 Quarter
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $243.71K USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $104.02K USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $639.98K USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $74.50K USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $243.71K USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $104.02K USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $639.98K USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $74.50K USD Point-in-time
Cash paid for interest InterestPaidNet - USD 1 Quarter
Cash paid for interest InterestPaidNet - USD 1 Quarter
Cash paid for taxes IncomeTaxesPaid - USD 1 Quarter
Cash paid for taxes IncomeTaxesPaid - USD 1 Quarter
Common stock issued in settlement of convertible notes payable StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments $1.57M USD 1 Quarter
Common stock issued in settlement of convertible notes payable StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments $639.05K USD 1 Quarter
Reclassification of derivative liabilities to additional paid-in capital ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital $4.48M USD 1 Quarter
Reclassification of derivative liabilities to additional paid-in capital ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital $233.07K USD 1 Quarter
Common stock issued for investment CommonStockIssuedForInvestment $650.00K USD 1 Quarter
Common stock issued for investment CommonStockIssuedForInvestment $234.63K USD 1 Quarter
Common stock issued to settle liabilities CommonStockIssuedToSettleLiabilities $8.62K USD 1 Quarter
Common stock issued to settle liabilities CommonStockIssuedToSettleLiabilities - USD 1 Quarter
Common stock issued for acquisition of business CommonStockToBeIssuedForAcquisitionOfBusiness - USD 1 Quarter
Common stock issued for acquisition of business CommonStockToBeIssuedForAcquisitionOfBusiness $250.00K USD 1 Quarter
Common stock issued for deferred finance costs CommonStockIssuedForDeferredFinanceCosts $43.00K USD 1 Quarter
Common stock issued for deferred finance costs CommonStockIssuedForDeferredFinanceCosts - USD 1 Quarter
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Beginning balance, value StockholdersEquity $-5.46M USD Point-in-time
Beginning balance, value StockholdersEquity $-720.85K USD Point-in-time
Beginning balance, value StockholdersEquity $-1.15M USD Point-in-time
Beginning balance, value StockholdersEquity $230.89K USD Point-in-time
Common stock issued for services rendered StockIssuedDuringPeriodValueIssuedForServices $10.90K USD 1 Quarter
Common stock issued in settlement of convertible notes payable and accrued interest StockIssuedDuringPeriodValueConversionOfConvertibleSecurities $1.57M USD 1 Quarter
Common stock issued in settlement of convertible notes payable and accrued interest StockIssuedDuringPeriodValueConversionOfConvertibleSecurities $1.05M USD 1 Quarter
Issuance of common stock for deferred finance costs IssuanceOfCommonStockForDeferredFinanceCosts $43.00K USD 1 Quarter
Issuance of common stock for settlement of liabilities IssuanceOfCommonStockForSettlementOfLiabilities $8.62K USD 1 Quarter
Common stock issued in exchange for exercise of warrants on a cashless basis StockIssuedDuringPeriodValueOther - USD 1 Quarter
Sale of common stock StockIssuedDuringPeriodValueNewIssues $1.25M USD 1 Quarter
Sale of common stock StockIssuedDuringPeriodValueNewIssues $528.85K USD 1 Quarter
Issuance of common stock for investments IssuanceOfCommonStockForInvestmentsValue $650.00K USD 1 Quarter
Reclassification of derivative liabilities to additional paid in capital AdjustmentsToAdditionalPaidInCapitalOther $4.48M USD 1 Quarter
Reclassification of derivative liabilities to additional paid in capital AdjustmentsToAdditionalPaidInCapitalOther $233.07K USD 1 Quarter
Net Loss ProfitLoss $-3.66M USD 1 Quarter
Net Loss ProfitLoss $-3.29M USD 1 Quarter
Common stock issued for contingent consideration CommonStockIssuedForContingentConsideration $250.00K USD 1 Quarter
Common stock issued for amendment to acquisition consideration CommonStockIssuedForAmendmentToAcquisitionConsideration $234.63K USD 1 Quarter
Ending balance, value StockholdersEquity $-5.46M USD Point-in-time
Ending balance, value StockholdersEquity $-720.85K USD Point-in-time
Ending balance, value StockholdersEquity $-1.15M USD Point-in-time
Ending balance, value StockholdersEquity $230.89K USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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