10-Q Filing

EXEO ENTERTAINMENT, INC. CIK: 1528760 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001199835-22-000455`
Period End Date	20220228
Filing Date	20220809
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	exeo-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 40 Cash Flow Statement 71 Stockholders Equity 25

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.61K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.99K	USD	Point-in-time
Inventory, net	`InventoryNet`	$46.69K	USD	Point-in-time
Inventory, net	`InventoryNet`	$42.68K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.72K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.56K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$1.32K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$1.32K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$93.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.18K	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$64.77K	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$91.91K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$18.61K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$15.99K	USD	Point-in-time
Website development costs, net	`CapitalizedComputerSoftwareNet`	$23.16K	USD	Point-in-time
Website development costs, net	`CapitalizedComputerSoftwareNet`	$20.44K	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
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$201.86K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$194.91K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.71M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.85M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.71M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	29.85M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$543.26K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$513.64K	USD	Point-in-time
Accrued interest payable - related party	`InterestPayableCurrent`	$37.39K	USD	Point-in-time
Accrued interest payable - related party	`InterestPayableCurrent`	$38.54K	USD	Point-in-time
Accrued payroll - officers	`EmployeeRelatedLiabilitiesCurrent`	$223.69K	USD	Point-in-time
Accrued payroll - officers	`EmployeeRelatedLiabilitiesCurrent`	$220.03K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	$477.24K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	$416.41K	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`	$2.12M	USD	Point-in-time
Royalty payable	`AccruedRoyaltiesCurrent`	$2.20M	USD	Point-in-time
PPP loan payable	`LoansPayableCurrent`	$29.74K	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`	$65.57K	USD	Point-in-time
Operating lease liabilities - current portion	`OperatingLeaseLiabilityCurrent`	$92.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.65M	USD	Point-in-time
Convertible promissory notes payable, net	`ConvertibleLongTermNotesPayable`	$41.72K	USD	Point-in-time
Convertible promissory notes payable, net	`ConvertibleLongTermNotesPayable`	$73.72K	USD	Point-in-time
Total long-term liabilities	`LongTermDebtAndCapitalLeaseObligations`	$73.72K	USD	Point-in-time
Total long-term liabilities	`LongTermDebtAndCapitalLeaseObligations`	$41.72K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.55M	USD	Point-in-time
Convertible Preferred Stock Series B - 12%, $0.0001 par value, 1,000,000 shares authorized, 229,250 and 234,250 shares issued, respectively	`PreferredStockValue`	-	USD	Point-in-time
Convertible Preferred Stock Series B - 12%, $0.0001 par value, 1,000,000 shares authorized, 229,250 and 234,250 shares issued, respectively	`PreferredStockValue`	-	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
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`	$7.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.87M	USD	Point-in-time
Stock payable	`StockPayable`	$114.00K	USD	Point-in-time
Stock payable	`StockPayable`	$114.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.52M	USD	Point-in-time
TOTAL STOCKHOLDERS DEFICIT	`StockholdersEquity`	$-4.37M	USD	Point-in-time
TOTAL STOCKHOLDERS DEFICIT	`StockholdersEquity`	$-5.75M	USD	Point-in-time
TOTAL STOCKHOLDERS DEFICIT	`StockholdersEquity`	$-5.53M	USD	Point-in-time
TOTAL STOCKHOLDERS DEFICIT	`StockholdersEquity`	$-4.06M	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$201.86K	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$194.91K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$3.44K	USD	1 Quarter
REVENUES	`Revenues`	$7.45K	USD	1 Quarter
Cost of direct materials, shipping and labor	`CostOfGoodsAndServicesSold`	$5.63K	USD	1 Quarter
Cost of direct materials, shipping and labor	`CostOfGoodsAndServicesSold`	$3.30K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$1.82K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$143.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$146.12K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$253.95K	USD	1 Quarter
Executive compensation	`LaborAndRelatedExpense`	$39.33K	USD	1 Quarter
Executive compensation	`LaborAndRelatedExpense`	$47.37K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$15.56K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$16.30K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.34K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.97K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`CostsAndExpenses`	$207.09K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`CostsAndExpenses`	$320.86K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-320.72K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-205.27K	USD	1 Quarter
Gain (Loss) from foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-53.20K	USD	1 Quarter
Gain (Loss) from foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.12K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$1.15K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$1.15K	USD	1 Quarter
Interest expense and financing expense	`InterestExpense`	$38.47K	USD	1 Quarter
Interest expense and financing expense	`InterestExpense`	$76.00	USD	1 Quarter
Non-cash financing expense	`FinancingInterestExpense`	$87.42K	USD	1 Quarter
Non-cash financing expense	`FinancingInterestExpense`	-	USD	1 Quarter
Change in fair Value on derivative	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$146.59K	USD	1 Quarter
Change in fair Value on derivative	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	-	USD	1 Quarter
TOTAL OTHER EXPENSES	`NonoperatingIncomeExpense`	$22.68K	USD	1 Quarter
TOTAL OTHER EXPENSES	`NonoperatingIncomeExpense`	$-54.43K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-182.60K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-375.14K	USD	1 Quarter
DIVIDEND OF REDEEMABLE PREFERRED STOCK	`RedeemablePreferredStockDividends`	$37.05K	USD	1 Quarter
DIVIDEND OF REDEEMABLE PREFERRED STOCK	`RedeemablePreferredStockDividends`	$37.05K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-219.65K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-412.19K	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted1`	$-0.01	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted1`	$-0.01	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted1`	30.71M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted1`	30.22M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-182.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-375.14K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.34K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.97K	USD	1 Quarter
Non cash financing expense	`FinancingInterestExpense`	$87.42K	USD	1 Quarter
Non cash financing expense	`FinancingInterestExpense`	-	USD	1 Quarter
Non cash lease expense	`OtherNoncashExpense`	$175.00	USD	1 Quarter
Non cash lease expense	`OtherNoncashExpense`	-	USD	1 Quarter
Change in fair value of derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	1 Quarter
Change in fair value of derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-146.59K	USD	1 Quarter
Discount on convertible notes payable	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Discount on convertible notes payable	`AmortizationOfDebtDiscountPremium`	$32.00K	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Modification of warrants	`ModificationOfWarrants`	-	USD	1 Quarter
Modification of warrants	`ModificationOfWarrants`	-	USD	1 Quarter
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-323.00	USD	1 Quarter
Decrease (Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$20.16K	USD	1 Quarter
Decrease (Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-5.83K	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-2.70K	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-4.01K	USD	1 Quarter
(Decrease) Increase in accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$29.62K	USD	1 Quarter
(Decrease) Increase in accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$80.29K	USD	1 Quarter
Increase in accrued interest - related party	`IncreaseDecreaseInFinanceReceivables`	$1.15K	USD	1 Quarter
Increase in accrued interest - related party	`IncreaseDecreaseInFinanceReceivables`	$1.15K	USD	1 Quarter
Increase in accrued payroll - officers	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.67K	USD	1 Quarter
Increase in accrued payroll - officers	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$7.25K	USD	1 Quarter
Increase in royalty payable	`IncreaseDecreaseInRoyaltiesPayable`	$75.54K	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`	$-84.61K	USD	1 Quarter
Website development	`PaymentsToDevelopWebsite`	$8.18K	USD	1 Quarter
Website development	`PaymentsToDevelopWebsite`	-	USD	1 Quarter
Cash Flows Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Cash Flows Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.18K	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`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$5.00K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$12.50K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$20.00K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$120.00K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$10.00K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$20.00K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$15.00K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$12.50K	USD	Point-in-time
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$50.00K	USD	Point-in-time
Proceeds from loan payable	`ProceedsFromShortTermDebt`	-	USD	1 Quarter
Payments on notes payable - auto loan	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Payments on notes payable - auto loan	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Cash Flows Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$120.00K	USD	1 Quarter
Cash Flows Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$87.75K	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$35.39K	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`	$39.99K	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`	$82.68K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`Cash`	$4.61K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$39.99K	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`	$82.68K	USD	Point-in-time
Cash and cash equivalents, end of the period	`Cash`	$4.61K	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`	$12.50K	USD	1 Quarter
Conversion of preferred stock	`ConversionOfStockAmountConverted1`	-	USD	1 Quarter
Dividend of redeemable preferred stock	`RedeemablePreferredStockDividends`	$37.05K	USD	1 Quarter
Dividend of redeemable preferred stock	`RedeemablePreferredStockDividends`	$37.05K	USD	1 Quarter

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-4.37M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-5.75M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-5.53M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-4.06M	USD	Point-in-time
Dividend of redeemable preferred stock	`DividendsPreferredStock`	$37.05K	USD	1 Quarter
Dividend of redeemable preferred stock	`DividendsPreferredStock`	$37.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-182.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-375.14K	USD	1 Quarter
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$12.50K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$10.00K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$12.50K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$14.00K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$12.50K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$12.50K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$5.00K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$10.00K	USD	Point-in-time
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$87.75K	USD	1 Quarter
Cash received for sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$6.25K	USD	Point-in-time
Stock issued for conversion of preferred stock	`StockIssuedDuringPeriodValueConversionOfUnits`	$12.50K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-4.37M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-5.75M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-5.53M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-4.06M	USD	Point-in-time

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