10-Q Filing

MITESCO, INC. CIK: 802257 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001185185-20-000696`
Period End Date	20200331
Filing Date	20200518
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	miti-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 32 Cash Flow Statement 67 Stockholders Equity 27

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Fixed assets, accumulated depreciation (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$393.00	USD	Point-in-time
Fixed assets, accumulated depreciation (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	-	USD	Point-in-time
Convertible notes payable, discount (in Dollars)	`DebtInstrumentUnamortizedDiscount`	$646.89K	USD	Point-in-time
Convertible notes payable, discount (in Dollars)	`DebtInstrumentUnamortizedDiscount`	$933.61K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.87K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$83.25K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.14K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.72K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$92.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.59K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $393 and $0	`PropertyPlantAndEquipmentNet`	$7.85K	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $393 and $0	`PropertyPlantAndEquipmentNet`	$7.46K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Assets	`Assets`	$28.05K	USD	Point-in-time
Total Assets	`Assets`	$100.82K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	86.57M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	81.27M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	86.57M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	81.27M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableCurrent`	$514.53K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableCurrent`	$648.71K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$2.88K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$2.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$109.15K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$82.87K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.49M	USD	Point-in-time
Convertible notes payable, net of discount of $933,610 and $646,888	`ConvertibleNotesPayableCurrent`	$77.11K	USD	Point-in-time
Convertible notes payable, net of discount of $933,610 and $646,888	`ConvertibleNotesPayableCurrent`	$130.39K	USD	Point-in-time
Convertible note payable, in default	`DebtDefaultShorttermDebtAmount`	$122.17K	USD	Point-in-time
Convertible note payable, in default	`DebtDefaultShorttermDebtAmount`	$122.17K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$92.77K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Preferred Stock Dividends	`DividendsPayableCurrent`	-	USD	Point-in-time
Preferred Stock Dividends	`DividendsPayableCurrent`	$17.36K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.42M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value, 500,000,000 shares authorized, 86,566,999 and 81,268,443 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$812.68K	USD	Point-in-time
Common stock, $0.01 par value, 500,000,000 shares authorized, 86,566,999 and 81,268,443 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$865.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.69M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.41M	USD	Point-in-time
Stock payable	`StockPayable`	$37.19K	USD	Point-in-time
Stock payable	`StockPayable`	$37.19K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.58M	USD	Point-in-time
Total (deficiency in) stockholders' equity	`StockholdersEquity`	$-1.81M	USD	Point-in-time
Total (deficiency in) stockholders' equity	`StockholdersEquity`	$-1.65M	USD	Point-in-time
Total (deficiency in) stockholders' equity	`StockholdersEquity`	$-2.13M	USD	Point-in-time
Total (deficiency in) stockholders' equity	`StockholdersEquity`	$-2.32M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$100.82K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.05K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$221.25K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$496.49K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$221.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$496.49K	USD	1 Quarter
Net Operating Loss	`OperatingIncomeLoss`	$-221.25K	USD	1 Quarter
Net Operating Loss	`OperatingIncomeLoss`	$-496.49K	USD	1 Quarter
Interest expense	`InterestExpense`	$190.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$160.40K	USD	1 Quarter
Gain on settlement of accounts payable	`LossOnConversionOfAccountsPayable`	-	USD	1 Quarter
Gain on settlement of accounts payable	`LossOnConversionOfAccountsPayable`	$42.29K	USD	1 Quarter
Gain on derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$496.37K	USD	1 Quarter
Gain on derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Loss on conversion of notes payable	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
Loss on conversion of notes payable	`GainsLossesOnRestructuringOfDebt`	$-99.72K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-260.12K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$348.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-481.37K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-147.96K	USD	1 Quarter
Preferred stock dividend	`DividendsPreferredStock`	$17.36K	USD	1 Quarter
Preferred stock dividend	`DividendsPreferredStock`	-	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-165.32K	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-481.37K	USD	1 Quarter
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	31.71M	shares	1 Quarter
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	83.98M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.71M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.98M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-481.37K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-147.96K	USD	1 Quarter
Depreciation	`Depreciation`	$393.00	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Preferred A stock issued to consultants	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$71.56K	USD	1 Quarter
Preferred A stock issued to consultants	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	1 Quarter
Loss on conversion of liabilities to preferred stock	`LossOnConversionOfLiabilitiesToPreferredStock`	$99.72K	USD	1 Quarter
Loss on conversion of liabilities to preferred stock	`LossOnConversionOfLiabilitiesToPreferredStock`	-	USD	1 Quarter
Gain on settlement of accounts payable	`GainLossOnSaleOfOtherAssets`	$42.29K	USD	1 Quarter
Gain on settlement of accounts payable	`GainLossOnSaleOfOtherAssets`	-	USD	1 Quarter
Gain on derivative liabilities	`OtherNonoperatingGainsLosses`	$496.37K	USD	1 Quarter
Gain on derivative liabilities	`OtherNonoperatingGainsLosses`	-	USD	1 Quarter
Derivative expense	`DerivativeLossOnDerivative`	$36.43K	USD	1 Quarter
Derivative expense	`DerivativeLossOnDerivative`	-	USD	1 Quarter
Amortization of discount on notes payable	`AmortizationOfDebtDiscountPremium`	$98.28K	USD	1 Quarter
Amortization of discount on notes payable	`AmortizationOfDebtDiscountPremium`	$121.43K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$48.43K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$20.36K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$2.25K	USD	1 Quarter
Imputed interest	`ImputedInterest`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.50K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$20.34K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$879.00	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$2.00K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$47.09K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$26.28K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$16.25K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-151.43K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-402.38K	USD	1 Quarter
Proceeds from notes payable, net of payments to vendors	`ProceedsFromPaymentsForOtherFinancingActivities`	$169.50K	USD	1 Quarter
Proceeds from notes payable, net of payments to vendors	`ProceedsFromPaymentsForOtherFinancingActivities`	$375.00K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$45.00K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$10.24K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$159.26K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$330.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-72.38K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$7.84K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.87K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.30K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$83.25K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.14K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.87K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.30K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$83.25K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.14K	USD	Point-in-time
Interest paid	`InterestPaid`	$2.68K	USD	1 Quarter
Interest paid	`InterestPaid`	$2.24K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Par value of shares returned for cancellation	`ValueOfCommonStockCanceledPreviouslyIssued`	-	USD	1 Quarter
Par value of shares returned for cancellation	`ValueOfCommonStockCanceledPreviouslyIssued`	$4.00K	USD	1 Quarter
Shares issued for debt conversion	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Shares issued for debt conversion	`DebtConversionConvertedInstrumentAmount1`	$90.20K	USD	1 Quarter
Discount due to warrants	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	$34.50K	USD	1 Quarter
Discount due to warrants	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	-	USD	1 Quarter
Beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	1 Quarter
Beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$79.53K	USD	1 Quarter
Settlement of derivative liabilities	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet`	$231.32K	USD	1 Quarter
Settlement of derivative liabilities	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet`	-	USD	1 Quarter
Exercise of cashless warrants	`StockIssuedDuringPeriodValueOther`	$50.99K	USD	1 Quarter
Exercise of cashless warrants	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Issuance of Series A Preferred Stock issued to consultants	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$71.56K	USD	1 Quarter
Preferred stock dividend	`DividendsPreferredStock`	$17.36K	USD	1 Quarter
Preferred stock dividend	`DividendsPreferredStock`	-	USD	1 Quarter
Derivative discounts	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$375.00K	USD	1 Quarter
Derivative discounts	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	1 Quarter

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.32M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	86.57M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	81.27M	shares	Point-in-time
Vesting of shares issued to employees	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$33.68K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$20.36K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$7.68K	USD	1 Quarter
Settlement of derivative liability	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	$231.32K	USD	1 Quarter
Common stock issued for the cashless exercise of warrants	`StockIssuedDuringPeriodValueOther`	$50.99K	USD	1 Quarter
Common stock issued for the cashless exercise of warrants	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Issuance of Preferred A stock for intangible asset	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$71.56K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$17.36K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	-	USD	1 Quarter
Discount on notes payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	1 Quarter
Discount on notes payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	$79.53K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$2.25K	USD	1 Quarter
Imputed interest	`ImputedInterest`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-481.37K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-147.96K	USD	1 Quarter
Balance	`StockholdersEquity`	$-1.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.32M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	86.57M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	81.27M	shares	Point-in-time

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