10-Q Filing

EXEO ENTERTAINMENT, INC. CIK: 1528760 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001199835-20-000123`
Period End Date	20200229
Filing Date	20200529
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	exeo-20200229.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 36 Cash Flow Statement 50 Stockholders Equity 16

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.13K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.92K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$4.02K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$40.55K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$51.48K	USD	Point-in-time
Inventory	`InventoryNet`	$284.50K	USD	Point-in-time
Inventory	`InventoryNet`	$280.02K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$432.90K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$399.71K	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$122.72K	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$92.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.53K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.38K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$600.15K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$538.75K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$81.13K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$65.19K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued interest payable - related party	`InterestPayableCurrent`	$28.08K	USD	Point-in-time
Accrued interest payable - related party	`InterestPayableCurrent`	$29.24K	USD	Point-in-time
Payroll liabilities	`EmployeeRelatedLiabilitiesCurrent`	$190.09K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Payroll liabilities	`EmployeeRelatedLiabilitiesCurrent`	$184.95K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	29.09M	shares	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	29.05M	shares	Point-in-time
Royalty payable	`AccruedRoyaltiesCurrent`	$1.49M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	29.05M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	29.09M	shares	Point-in-time
Royalty payable	`AccruedRoyaltiesCurrent`	$1.43M	USD	Point-in-time
Treasury stock, Series B Preferred Stock	`TreasuryStockPreferredShares`	2,500.00	shares	Point-in-time
Notes payable	`NotesPayableCurrent`	$7.73K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$9.31K	USD	Point-in-time
Treasury stock, Series B Preferred Stock	`TreasuryStockPreferredShares`	2,500.00	shares	Point-in-time
Operating lease liabilities - current portion	`OperatingLeaseLiabilityCurrent`	$103.44K	USD	Point-in-time
Operating lease liabilities - current portion	`OperatingLeaseLiabilityCurrent`	$80.90K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.91M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	-	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$936.00	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$17.08K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$11.08K	USD	Point-in-time
Total long-term liabilities	`LongTermDebtAndCapitalLeaseObligations`	$11.08K	USD	Point-in-time
Total long-term liabilities	`LongTermDebtAndCapitalLeaseObligations`	$18.02K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.93M	USD	Point-in-time
Commitments and contingencies - Note D	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies - Note D	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A redeemable convertible preferred stock; $0.0001 par value, 1,000,000 shares authorized; 19,500 shares issued and outstanding; 0 shares unissued as of February 29, 2020 and November 30, 2019 (liquidation preference of $113,394 and $109,738, respectively). Stated at redemption value.	`PreferredStockValue1`	$181.64K	USD	Point-in-time
Series A redeemable convertible preferred stock; $0.0001 par value, 1,000,000 shares authorized; 19,500 shares issued and outstanding; 0 shares unissued as of February 29, 2020 and November 30, 2019 (liquidation preference of $113,394 and $109,738, respectively). Stated at redemption value.	`PreferredStockValue1`	$177.99K	USD	Point-in-time
Series B redeemable convertible preferred stock; $0.0001 par value, 1,000,000 shares authorized; 229,250 and 234,250 shares issued and outstanding; 2,500 shares unissued as of February 29, 2020 and November 30, 2019 (liquidation preference of $958,070 and $932,317, respectively). Stated at redemption value, net of Treasury Stock (2,500 shares)	`PreferredStockSeriesB1`	$1.87M	USD	Point-in-time
Series B redeemable convertible preferred stock; $0.0001 par value, 1,000,000 shares authorized; 229,250 and 234,250 shares issued and outstanding; 2,500 shares unissued as of February 29, 2020 and November 30, 2019 (liquidation preference of $958,070 and $932,317, respectively). Stated at redemption value, net of Treasury Stock (2,500 shares)	`PreferredStockSeriesB1`	$1.91M	USD	Point-in-time
Convertible Preferred Stock Series A - 15%, $0.0001 par value, 1,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Convertible Preferred Stock Series A - 15%, $0.0001 par value, 1,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Convertible Preferred Stock Series B - 12%, $0.0001 par value, 1,000,000 shares	`PreferredStockSeriesB`	-	USD	Point-in-time
Convertible Preferred Stock Series B - 12%, $0.0001 par value, 1,000,000 shares	`PreferredStockSeriesB`	-	USD	Point-in-time
Common stock - $0.0001 par value, 100,000,000 shares authorized; 29,088,975 and 29,054,235 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$2.90K	USD	Point-in-time
Common stock - $0.0001 par value, 100,000,000 shares authorized; 29,088,975 and 29,054,235 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$2.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.72M	USD	Point-in-time
Treasury stock, Series B Preferred Stock - 2,500 shares	`TreasuryStockValue`	$12.50K	USD	Point-in-time
Treasury stock, Series B Preferred Stock - 2,500 shares	`TreasuryStockValue`	$12.50K	USD	Point-in-time
Stock Payable	`StockPayable`	$22.50K	USD	Point-in-time
Stock Payable	`StockPayable`	$297.50K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.52M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.38M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.51M	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$538.75K	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$600.15K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$750.00	USD	1 Quarter
REVENUES	`Revenues`	$9.76K	USD	1 Quarter
Cost of direct materials, shipping and labor	`CostOfGoodsAndServicesSold`	$2.09K	USD	1 Quarter
Cost of direct materials, shipping and labor	`CostOfGoodsAndServicesSold`	$6.60K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$-1.34K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$3.17K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$291.53K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$322.83K	USD	1 Quarter
Executive compensation	`LaborAndRelatedExpense`	$33.57K	USD	1 Quarter
Executive compensation	`LaborAndRelatedExpense`	$33.84K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$17.62K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$11.80K	USD	1 Quarter
Depreciation	`Depreciation`	$4.96K	USD	1 Quarter
Depreciation	`Depreciation`	$5.33K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`CostsAndExpenses`	$347.95K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`CostsAndExpenses`	$373.53K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-370.36K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-349.29K	USD	1 Quarter
Gain (loss) from foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$13.69K	USD	1 Quarter
Gain (loss) from foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-12.05K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$1.16K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$1.15K	USD	1 Quarter
Interest expense	`InterestExpense`	$75.00	USD	1 Quarter
Interest expense	`InterestExpense`	$147.00	USD	1 Quarter
TOTAL OTHER INCOME (EXPENSES)	`NonoperatingIncomeExpense`	$12.45K	USD	1 Quarter
TOTAL OTHER INCOME (EXPENSES)	`NonoperatingIncomeExpense`	$-13.34K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-357.91K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-362.63K	USD	1 Quarter
DIVIDEND OF REDEEMABLE PREFERRED STOCK	`RedeemablePreferredStockDividends`	$40.66K	USD	1 Quarter
DIVIDEND OF REDEEMABLE PREFERRED STOCK	`RedeemablePreferredStockDividends`	$40.66K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-398.57K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-403.29K	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasic`	27.33M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasic`	29.07M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-357.91K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-362.63K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.96K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$5.33K	USD	1 Quarter
Non cash lease expense	`NonCashLeaseExpense`	$1.52K	USD	1 Quarter
Non cash lease expense	`NonCashLeaseExpense`	-	USD	1 Quarter
Decrease (Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.93K	USD	1 Quarter
Decrease (Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$22.40K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.02K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Decrease in inventory	`IncreaseDecreaseInInventories`	$-4.48K	USD	1 Quarter
Decrease in inventory	`IncreaseDecreaseInInventories`	$-1.15K	USD	1 Quarter
(Decrease) Increase in accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-15.93K	USD	1 Quarter
(Decrease) Increase in accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$3.16K	USD	1 Quarter
Decrease in accrued interest - related party	`IncreaseDecreaseInFinanceReceivables`	$-1.16K	USD	1 Quarter
Decrease in accrued interest - related party	`IncreaseDecreaseInFinanceReceivables`	$-1.15K	USD	1 Quarter
Increase in payroll liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.14K	USD	1 Quarter
Increase in payroll liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.18K	USD	1 Quarter
Increase in royalty payable	`IncreaseDecreaseInRoyaltiesPayable`	$62.21K	USD	1 Quarter
Increase in royalty payable	`IncreaseDecreaseInRoyaltiesPayable`	$87.12K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-287.09K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-282.31K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.18K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.00K	USD	1 Quarter
Cash Flows Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.00K	USD	1 Quarter
Cash Flows Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.18K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$440.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$190.00K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$85.00K	USD	1 Quarter
Payments on notes payable - auto loan (principal)	`RepaymentsOfNotesPayable`	$2.52K	USD	1 Quarter
Payments on notes payable - auto loan (principal)	`RepaymentsOfNotesPayable`	$2.45K	USD	1 Quarter
Cash Flows Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$272.48K	USD	1 Quarter
Cash Flows Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$437.55K	USD	1 Quarter
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-21.79K	USD	1 Quarter
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$116.23K	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`Cash`	$75.13K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$220.72K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$104.48K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$96.92K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$75.13K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$220.72K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$104.48K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$96.92K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Dividend of redeemable preferred stock	`Dividends`	$40.66K	USD	1 Quarter
Dividend of redeemable preferred stock	`Dividends`	$40.66K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$3.03M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-2.99M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.51M	USD	Point-in-time
Cash received for sale of common stock, amount	`ProceedsFromIssuanceOrSaleOfEquity`	$440.00K	USD	1 Quarter
Cash received for sale of common stock, amount	`ProceedsFromIssuanceOrSaleOfEquity`	$190.00K	USD	1 Quarter
Stock issued for subscriptions payable, amount	`StockIssuedForSubscriptionsPayable`	-	USD	1 Quarter
Stock issued for conversion of preferred stock, amount	`StockIssuedDuringPeriodValueConversionOfUnits`	$5.00	USD	1 Quarter
Stock issued for conversion of preferred stock, amount	`StockIssuedDuringPeriodValueConversionOfUnits`	$3.00	USD	1 Quarter
Cash received for warrant exercises, amount	`StockIssuedDuringPeriodValueWarrantsExercised`	$85.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-398.57K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-403.29K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$3.03M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-2.99M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.51M	USD	Point-in-time

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