10-Q Filing

EXEO ENTERTAINMENT, INC. CIK: 1528760 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001199835-21-000213`
Period End Date	20210228
Filing Date	20210422
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	exeo-20210228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 38 Cash Flow Statement 56 Stockholders Equity 21

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$170.85K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.68K	USD	Point-in-time
Inventory, net	`InventoryNet`	$51.62K	USD	Point-in-time
Inventory, net	`InventoryNet`	$54.33K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$32.72K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$12.56K	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
Accounts receivable	`AccountsReceivableNetCurrent`	$645.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$322.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$167.35K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$238.38K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$180.62K	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$209.20K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	30.71M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	29.85M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.44K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$29.05K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	29.85M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	30.71M	shares	Point-in-time
Treasury stock, Series B Preferred Stock	`TreasuryStockPreferredShares`	2,500.00	shares	Point-in-time
Website development costs, net	`CapitalizedComputerSoftwareNet`	$24.52K	USD	Point-in-time
Treasury stock, Series B Preferred Stock	`TreasuryStockPreferredShares`	2,500.00	shares	Point-in-time
Website development costs, net	`CapitalizedComputerSoftwareNet`	$31.34K	USD	Point-in-time
Total assets	`Assets`	$501.16K	USD	Point-in-time
Total assets	`Assets`	$405.75K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$262.80K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$182.51K	USD	Point-in-time
Accrued interest payable - related party	`InterestPayableCurrent`	$33.89K	USD	Point-in-time
Accrued interest payable - related party	`InterestPayableCurrent`	$32.74K	USD	Point-in-time
Accrued payroll - officers	`EmployeeRelatedLiabilitiesCurrent`	$210.92K	USD	Point-in-time
Accrued payroll - officers	`EmployeeRelatedLiabilitiesCurrent`	$203.67K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Royalty payable	`AccruedRoyaltiesCurrent`	$1.90M	USD	Point-in-time
Royalty payable	`AccruedRoyaltiesCurrent`	$1.77M	USD	Point-in-time
PPP loan payable	`LoansPayableCurrent`	$29.74K	USD	Point-in-time
PPP loan payable	`LoansPayableCurrent`	$29.74K	USD	Point-in-time
Operating lease liabilities - current portion	`OperatingLeaseLiabilityCurrent`	$115.11K	USD	Point-in-time
Operating lease liabilities - current portion	`OperatingLeaseLiabilityCurrent`	$116.79K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.41M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$91.56K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$64.83K	USD	Point-in-time
Total long-term liabilities	`LongTermDebtAndCapitalLeaseObligations`	$91.56K	USD	Point-in-time
Total long-term liabilities	`LongTermDebtAndCapitalLeaseObligations`	$64.83K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.50M	USD	Point-in-time
Commitments and contingencies - Note F	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies - Note F	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.0001 par value, 100,000,000 shares authorized; 30,709,948 and 29,853,327 shares issued and outstanding, respectively	`CommonStockValue`	$2.98K	USD	Point-in-time
Common stock - $0.0001 par value, 100,000,000 shares authorized; 30,709,948 and 29,853,327 shares issued and outstanding, respectively	`CommonStockValue`	$3.07K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.38M	USD	Point-in-time
Stock payable	`StockPayable`	$486.25K	USD	Point-in-time
Stock payable	`StockPayable`	$104.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.93M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.06M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.49M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.37M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.37M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$405.75K	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$501.16K	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$9.76K	USD	1 Quarter
Revenues	`Revenues`	$3.44K	USD	1 Quarter
Cost of direct materials, shipping and labor	`CostOfGoodsAndServicesSold`	$3.30K	USD	1 Quarter
Cost of direct materials, shipping and labor	`CostOfGoodsAndServicesSold`	$6.60K	USD	1 Quarter
Gross profit	`GrossProfit`	$3.17K	USD	1 Quarter
Gross profit	`GrossProfit`	$143.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$322.83K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$253.95K	USD	1 Quarter
Executive compensation	`LaborAndRelatedExpense`	$47.37K	USD	1 Quarter
Executive compensation	`LaborAndRelatedExpense`	$33.57K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$11.80K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$15.56K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.33K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$373.53K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$320.86K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-370.36K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-320.72K	USD	1 Quarter
Gain (loss) from foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-53.20K	USD	1 Quarter
Gain (loss) from foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$13.69K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$1.16K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$1.15K	USD	1 Quarter
Interest and financing expense	`InterestExpense`	$76.00	USD	1 Quarter
Interest and financing expense	`InterestExpense`	$41.53K	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-54.43K	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-29.01K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-375.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-399.37K	USD	1 Quarter
Dividend of redeemable preferred stock	`RedeemablePreferredStockDividends`	$40.66K	USD	1 Quarter
Dividend of redeemable preferred stock	`RedeemablePreferredStockDividends`	$37.05K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-440.03K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-412.19K	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average number of shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.07M	shares	1 Quarter
Weighted average number of shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.22M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-375.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-399.37K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.33K	USD	1 Quarter
Non cash lease expense	`OtherNoncashExpense`	$1.52K	USD	1 Quarter
Non cash lease expense	`OtherNoncashExpense`	$175.00	USD	1 Quarter
Modification of warrants	`ModificationOfWarrants`	-	USD	1 Quarter
Modification of warrants	`ModificationOfWarrants`	$-41.46K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.93K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-323.00	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$4.02K	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$20.16K	USD	1 Quarter
Decrease (increase) in inventory	`IncreaseDecreaseInInventories`	$-4.48K	USD	1 Quarter
Decrease (increase) in inventory	`IncreaseDecreaseInInventories`	$-2.70K	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`	$80.29K	USD	1 Quarter
Decrease in accrued interest - related party	`IncreaseDecreaseInFinanceReceivables`	$-1.15K	USD	1 Quarter
Decrease in accrued interest - related party	`IncreaseDecreaseInFinanceReceivables`	$-1.16K	USD	1 Quarter
Increase in accrued payroll - officers	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$7.25K	USD	1 Quarter
Increase in accrued payroll - officers	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.14K	USD	1 Quarter
Increase in royalty payable	`IncreaseDecreaseInRoyaltiesPayable`	$62.21K	USD	1 Quarter
Increase in royalty payable	`IncreaseDecreaseInRoyaltiesPayable`	$131.70K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-167.75K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-287.09K	USD	1 Quarter
Website development	`PaymentsToDevelopWebsite`	$8.18K	USD	1 Quarter
Website development	`PaymentsToDevelopWebsite`	-	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquireProductiveAssets`	-	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquireProductiveAssets`	$7.18K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.18K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.18K	USD	1 Quarter
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$87.75K	USD	1 Quarter
Proceeds from issuance of common stock, net of issuance costs	`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	`RepaymentsOfNotesPayable`	$2.52K	USD	1 Quarter
Payments on notes payable - auto loan	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$272.48K	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$87.75K	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-21.79K	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-88.17K	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`Cash`	$82.68K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$170.85K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$96.92K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$75.13K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$82.68K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$170.85K	USD	Point-in-time
Cash and cash equivalents, end 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 paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Conversion of preferred stock	`ConversionOfStockAmountConverted1`	-	USD	1 Quarter
Conversion of preferred stock	`ConversionOfStockAmountConverted1`	$12.50K	USD	1 Quarter
Dividend of redeemable preferred stock	`RedeemablePreferredStockDividends`	$40.66K	USD	1 Quarter
Dividend of redeemable preferred stock	`RedeemablePreferredStockDividends`	$37.05K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-4.06M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.49M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.37M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-4.37M	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs, amount	`StockIssuedDuringPeriodValueNewIssues`	$87.75K	USD	1 Quarter
Cash received for sale of common stock, net of issuance costs, amount	`StockIssuedDuringPeriodValueNewIssues`	$190.00K	USD	1 Quarter
Cash received for exercise of warrants, net of issuance costs	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Cash received for exercise of warrants, net of issuance costs	`ProceedsFromWarrantExercises`	$85.00K	USD	1 Quarter
Stock issued for conversion of preferred stock, amount	`StockIssuedDuringPeriodValueConversionOfUnits`	$12.50K	USD	1 Quarter
Stock issued for conversion of preferred stock, amount	`StockIssuedDuringPeriodValueConversionOfUnits`	$5.00	USD	1 Quarter
Stock issued for services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Modification of warrants	`ModificationOfWarrants`	-	USD	1 Quarter
Modification of warrants	`ModificationOfWarrants`	$-41.46K	USD	1 Quarter
Dividend of redeemable preferred stock	`DividendsPreferredStock`	$40.66K	USD	1 Quarter
Dividend of redeemable preferred stock	`DividendsPreferredStock`	$37.05K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-440.03K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-412.19K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$-4.06M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.49M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.37M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-4.37M	USD	Point-in-time

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