10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001262463-18-000107`
Period End Date	20171231
Filing Date	20180417
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	mcoa-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 36 Cash Flow Statement 70 Stockholders Equity 29

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Convertible note payable, net of debt discount - current	`DebtInstrumentUnamortizedDiscountCurrent`	$924.34K	USD	Point-in-time
Convertible note payable, net of debt discount - non current	`DebtInstrumentUnamortizedDiscountNoncurrent`	$308.28K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	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`	$147.49K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.12K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.86K	USD	Point-in-time
Inventory	`InventoryNet`	$163.72K	USD	Point-in-time
Inventory	`InventoryNet`	$83.47K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$418.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$240.09K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.57K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	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 issued	`CommonStockSharesIssued`	1.62B	shares	Point-in-time
Investments	`Investments`	$695.48K	USD	Point-in-time
Investments	`Investments`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.10B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.62B	shares	Point-in-time
Security deposit	`SecurityDeposit`	-	USD	Point-in-time
Security deposit	`SecurityDeposit`	$2.50K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.10B	shares	Point-in-time
Total assets	`Assets`	$240.09K	USD	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$306.56K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$324.89K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$32.71K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$4.80K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$40.16K	USD	Point-in-time
Debt obligation of Joint venture	`DebtCurrent`	-	USD	Point-in-time
Debt obligation of Joint venture	`DebtCurrent`	$1.50M	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$7.49K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$542.57K	USD	Point-in-time
Convertible notes payable, net of debt discount of $924,340	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable, net of debt discount of $924,340	`ConvertibleNotesPayableCurrent`	$394.56K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$5.86M	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$369.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.58M	USD	Point-in-time
Convertible notes payable, net of debt discount of $308,280	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Convertible notes payable, net of debt discount of $308,280	`ConvertibleLongTermNotesPayable`	$172.86K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$697.28K	USD	Point-in-time
Total long term debt	`LiabilitiesNoncurrent`	$870.13K	USD	Point-in-time
Total long term debt	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$11.45M	USD	Point-in-time
Total liabilities	`Liabilities`	$369.89K	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 December 31, 2017 and 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 December 31, 2017 and 2016	`PreferredStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 2,103,464,006 and 1,620,996,998 shares issued and outstanding as of December 31, 2017 and 2016, respectively	`CommonStockValue`	$1.62M	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 2,103,464,006 and 1,620,996,998 shares issued and outstanding as of December 31, 2017 and 2016, respectively	`CommonStockValue`	$2.10M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$30.46M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-42.89M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-381.77K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-129.80K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-10.32M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$240.09K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$26.83K	USD	Annual
Sales	`SalesRevenueNet`	$8.73K	USD	Annual
Cost of sales	`CostOfRevenue`	$2.81K	USD	Annual
Cost of sales	`CostOfRevenue`	$14.29K	USD	Annual
Gross Profit	`GrossProfit`	$12.54K	USD	Annual
Gross Profit	`GrossProfit`	$5.91K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$21.27M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.74M	USD	Annual
Impairment of joint venture	`ImpairmentOfInvestments`	-	USD	Annual
Impairment of joint venture	`ImpairmentOfInvestments`	$2.29M	USD	Annual
Depreciation	`Depreciation`	$2.58K	USD	Annual
Depreciation	`Depreciation`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.74M	USD	Annual
Total operating expenses	`OperatingExpenses`	$23.57M	USD	Annual
Net loss from operations	`OperatingIncomeLoss`	$-4.74M	USD	Annual
Net loss from operations	`OperatingIncomeLoss`	$-23.56M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-530.41K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-5.84M	USD	Annual
Loss on equity investment	`GainLossOnInvestments`	-	USD	Annual
Loss on equity investment	`GainLossOnInvestments`	$-61.30K	USD	Annual
(Loss) gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-4.33M	USD	Annual
(Loss) gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$14.21K	USD	Annual
Gain (loss) on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$347.22K	USD	Annual
Gain (loss) on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-147.78K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-663.99K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-9.89M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-5.40M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-33.44M	USD	Annual
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`NetIncomeLoss`	$-5.40M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-33.44M	USD	Annual
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	Annual
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.29B	shares	Annual
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.93B	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-33.44M	USD	Annual
Depreciation	`Depreciation`	$2.58K	USD	Annual
Depreciation	`Depreciation`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.04M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$401.14K	USD	Annual
Non cash interest	`PaidInKindInterest`	$114.91K	USD	Annual
Non cash interest	`PaidInKindInterest`	$1.34M	USD	Annual
Impairment of investment in joint venture	`ImpairmentOfInvestments`	-	USD	Annual
Impairment of investment in joint venture	`ImpairmentOfInvestments`	$2.29M	USD	Annual
Loss (gain) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-4.33M	USD	Annual
Loss (gain) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$14.21K	USD	Annual
Fair value of liability warrants issued as inducement fee	`FairValueAdjustmentOfWarrants`	$3.41M	USD	Annual
Fair value of liability warrants issued as inducement fee	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$19.88M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$4.15M	USD	Annual
Notes payable issued in settlement of accrued compensation and expenses incurred	`OtherNoncashExpense`	$357.50K	USD	Annual
Notes payable issued in settlement of accrued compensation and expenses incurred	`OtherNoncashExpense`	$599.39K	USD	Annual
(Gain) loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$347.22K	USD	Annual
(Gain) loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-147.78K	USD	Annual
Loss on equity investment	`GainLossOnInvestments`	-	USD	Annual
Loss on equity investment	`GainLossOnInvestments`	$-61.30K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.26K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.12K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$80.25K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$83.47K	USD	Annual
Security deposit	`IncreaseDecreaseInSecurityDeposits`	-	USD	Annual
Security deposit	`IncreaseDecreaseInSecurityDeposits`	$-2.50K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$22.42K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$65.58K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$32.71K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.21K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-242.01K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-895.74K	USD	Annual
Purchase of investments	`PaymentsToAcquireInvestments`	$1.16M	USD	Annual
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.14K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.18M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$1.58M	USD	Annual
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$40.00K	USD	Annual
Proceeds from issuance of notes payable, related party	`ProceedsFromRelatedPartyDebt`	$513.51K	USD	Annual
Proceeds from issuance of notes payable, related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$85.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$349.50K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.18M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$389.50K	USD	Annual
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$102.34K	USD	Annual
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$147.49K	USD	Annual
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$147.49K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$147.49K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Beneficial conversion feature related to convertible notes payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	Annual
Beneficial conversion feature related to convertible notes payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	$361.14K	USD	Annual
Common stock issued in settlement of related party notes payable	`StockIssued1`	$616.10K	USD	Annual
Common stock issued in settlement of related party notes payable	`StockIssued1`	$796.16K	USD	Annual
Common stock issued in settlement of convertible notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$84.00K	USD	Annual
Common stock issued in settlement of convertible notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Fair value of liability warrants canceled in settlement of debt	`FairValueOfLiabilityWarrantsCanceledInSettlementOfDebt`	$280.00K	USD	Annual
Fair value of liability warrants canceled in settlement of debt	`FairValueOfLiabilityWarrantsCanceledInSettlementOfDebt`	-	USD	Annual
Common stock issued in connection with joint venture	`CommonStockIssuedInConnectionWithJointVentureValue`	-	USD	Annual
Common stock issued in connection with joint venture	`CommonStockIssuedInConnectionWithJointVentureValue`	$388.50K	USD	Annual

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Balance common stock, shares	`CommonStockSharesOutstanding`	1.62B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	2.10B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-381.77K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-129.80K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-10.32M	USD	Point-in-time
Common stock issued for services rendered, value	`StockIssuedDuringPeriodValueIssuedForServices`	$19.07M	USD	Annual
Common stock issued for services rendered, value	`StockIssuedDuringPeriodValueIssuedForServices`	$1.22M	USD	Annual
Sale of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$85.00K	USD	Annual
Sale of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$349.50K	USD	Annual
Common stock issued in settlement of related party notes payable, value	`DebtConversionConvertedInstrumentAmount1`	$616.10K	USD	Annual
Common stock issued in settlement of related party notes payable, value	`DebtConversionConvertedInstrumentAmount1`	$796.16K	USD	Annual
Cancellation of previously issued common stock, value	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	Annual
Beneficial conversion feature in connection with convertible notes payable	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$361.14K	USD	Annual
Replacement of previously canceled common shares, value	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$810.75K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.93M	USD	Annual
Common stock issued in connection with joint venture, value	`CommonStockIssuedInConnectionWithJointVentureValue`	-	USD	Annual
Common stock issued in connection with joint venture, value	`CommonStockIssuedInConnectionWithJointVentureValue`	$388.50K	USD	Annual
Common stock issued in settlement of convertible notes payable, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$84.00K	USD	Annual
Common stock issued in settlement of convertible notes payable, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Common stock issued for accrued officer compensation, value	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	-	USD	Annual
Reclassification of derivative liabilities	`AdjustmentsToAdditionalPaidInCapitalOther`	$2.20M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-33.44M	USD	Annual
Balance common stock, shares	`CommonStockSharesOutstanding`	1.62B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	2.10B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-381.77K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-129.80K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-10.32M	USD	Point-in-time

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