10-Q/A Filing

MARIJUANA CO OF AMERICA, INC. CIK: 1078799 Q2 2017

Filing Information

Form Type	10-Q/A
Accession Number	`0001262463-18-000011`
Period End Date	20170630
Filing Date	20180110
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	mcoa-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 64 Cash Flow Statement 60 Stockholders Equity 22

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Note payable related party net of dicount	`DebtInstrumentUnamortizedDiscountCurrent`	$612.66K	USD	Point-in-time
Note payable related party net of dicount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Convertible note payable, net of debt discount	`DebtInstrumentUnamortizedDiscount`	$85.30K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$147.49K	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`	$9.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$10.66K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.12K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$83.47K	USD	Point-in-time
Inventory	`InventoryNet`	$140.66K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$240.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$160.95K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.21K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.62B	shares	Point-in-time
Investments	`Investments`	-	USD	Point-in-time
Investments	`Investments`	$280.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.98B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.62B	shares	Point-in-time
Total assets	`Assets`	$445.17K	USD	Point-in-time
Total assets	`Assets`	$240.09K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.98B	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$334.75K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$324.89K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$32.71K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$4.80K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.82K	USD	Point-in-time
Notes payable, related party, net of debt discount of $612,663 and $0	`NotesPayableRelatedPartiesClassifiedCurrent`	$7.49K	USD	Point-in-time
Notes payable, related party, net of debt discount of $612,663 and $0	`NotesPayableRelatedPartiesClassifiedCurrent`	$3.00K	USD	Point-in-time
Convertible note payable, net of debt discount of $85,297	`ConvertibleNotesPayableCurrent`	$25.81K	USD	Point-in-time
Convertible note payable, net of debt discount of $85,297	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.51M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$369.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.87M	USD	Point-in-time
Preferred stock, $0.001 par value, 50,000,000 shares authorized; Class A preferred stock, $0.001 par value, 10,000,000 shares designated, 10,000,000 shares issued and outstanding as of June 30, 2017 and December 31, 2016	`PreferredStockValue`	$10.00K	USD	Point-in-time
Preferred stock, $0.001 par value, 50,000,000 shares authorized; Class A preferred stock, $0.001 par value, 10,000,000 shares designated, 10,000,000 shares issued and outstanding as of June 30, 2017 and December 31, 2016	`PreferredStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 1,975,075,786 and 1,620,996,998 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$1.62M	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 1,975,075,786 and 1,620,996,998 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$1.98M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.69M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$25.21M	USD	Point-in-time
Common stock subscription	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Common stock subscription	`CommonStockSharesSubscriptions`	$25.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.45M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.43M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-129.80K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$240.09K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$445.17K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$11.13K	USD	1 Quarter
Sales	`SalesRevenueNet`	-	USD	1 Quarter
Sales	`SalesRevenueNet`	-	USD	2 Qtrs
Sales	`SalesRevenueNet`	$17.02K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$8.81K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	-	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$12.16K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.32K	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	$4.87K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.43M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$338.01K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$18.35M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$373.08K	USD	1 Quarter
Depreciation	`Depreciation`	$647.00	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$405.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.35M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.43M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$373.49K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$338.01K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-338.01K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-18.35M	USD	2 Qtrs
Net loss from operations	`OperatingIncomeLoss`	$-371.17K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-1.43M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	-	USD	1 Quarter
Interest expense, net	`InterestExpense`	$761.50K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$883.22K	USD	2 Qtrs
Interest expense, net	`InterestExpense`	-	USD	2 Qtrs
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$29.97K	USD	2 Qtrs
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$10.08K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-853.25K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	-	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-751.42K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-338.01K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.12M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.43M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-19.20M	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-338.01K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-19.20M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.43M	USD	2 Qtrs
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.16B	shares	2 Qtrs
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.17B	shares	1 Quarter
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.83B	shares	2 Qtrs
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.98B	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-338.01K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.20M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.43M	USD	2 Qtrs
Depreciation	`Depreciation`	$647.00	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$405.00	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$27.50K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Non cash interest	`PaidInKindInterest`	$853.90K	USD	2 Qtrs
Non cash interest	`PaidInKindInterest`	-	USD	2 Qtrs
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$29.97K	USD	2 Qtrs
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$10.08K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$17.82M	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.14M	USD	2 Qtrs
Notes payable issued in settlement of accrued compensation	`OtherNoncashExpense`	$179.94K	USD	2 Qtrs
Notes payable issued in settlement of accrued compensation	`OtherNoncashExpense`	$28.83K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.54K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$57.19K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.98K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$195.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-32.71K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-64.99K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-433.84K	USD	2 Qtrs
Purchase of investment	`PaymentsToAcquireInvestments`	$280.00K	USD	2 Qtrs
Purchase of investment	`PaymentsToAcquireInvestments`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.86K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-284.86K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$99.97K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds from issuance of notes payable, related party	`ProceedsFromRelatedPartyDebt`	$395.88K	USD	2 Qtrs
Proceeds from issuance of notes payable, related party	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$85.00K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$65.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$65.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$580.85K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-137.86K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.00	USD	2 Qtrs
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.63K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$147.49K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.00	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.63K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$147.49K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.00	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Non cash financing activities:	`NonCashFinancingActivities`	-	USD	2 Qtrs
Non cash financing activities:	`NonCashFinancingActivities`	-	USD	2 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance preferred stock, shares	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Balance preferred stock, shares	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	1.62B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	1.98B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-1.43M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-129.80K	USD	Point-in-time
Common stock issued for services rendered, value	`StockIssuedDuringPeriodValueIssuedForServices`	$17.69M	USD	2 Qtrs
Replacement of previously canceled common shares, value	`StockIssuedDuringPeriodValueOther`	-	USD	2 Qtrs
Sale of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$60.00K	USD	2 Qtrs
Common stock subscription received	`CommonStockSubscriptionReceived`	$25.00K	USD	2 Qtrs
Common stock issued for accrued officer compensation, value	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	-	USD	2 Qtrs
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$124.38K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-338.01K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.20M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.43M	USD	2 Qtrs
Balance preferred stock , shares	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Balance preferred stock , shares	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	1.62B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	1.98B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-1.43M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-129.80K	USD	Point-in-time

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