10-Q Filing

MARIJUANA CO OF AMERICA, INC. CIK: 1078799 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001262463-18-000146`
Period End Date	20180331
Filing Date	20180521
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	mcoa-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 38 Cash Flow Statement 58 Stockholders Equity 17

Balance Sheet 72 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 - current	`DebtInstrumentUnamortizedDiscountCurrent`	$496.83K	USD	Point-in-time
Convertible note payable, net of debt discount - non current	`DebtInstrumentUnamortizedDiscountNoncurrent`	$308.28K	USD	Point-in-time
Convertible note payable, net of debt discount - non current	`DebtInstrumentUnamortizedDiscountNoncurrent`	$673.10K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$63.03K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$170.09K	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, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.86K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.71K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$228.93K	USD	Point-in-time
Inventory	`InventoryNet`	$163.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$402.73K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$418.41K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.57K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$16.38K	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
Investments	`Investments`	$657.80K	USD	Point-in-time
Investments	`Investments`	$695.48K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.10B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.14B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.10B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.14B	shares	Point-in-time
Security deposit	`SecurityDeposit`	$2.50K	USD	Point-in-time
Security deposit	`SecurityDeposit`	$2.50K	USD	Point-in-time
Total assets	`Assets`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$283.69K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$306.56K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$195.00K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$40.16K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$80.36K	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`	$542.57K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$564.28K	USD	Point-in-time
Convertible notes payable, net of debt discount of $496,835 and $924,340, respectively	`ConvertibleNotesPayableCurrent`	$394.56K	USD	Point-in-time
Convertible notes payable, net of debt discount of $496,835 and $924,340, respectively	`ConvertibleNotesPayableCurrent`	$585.54K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$1.96M	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$5.86M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.93M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.58M	USD	Point-in-time
Convertible notes payable, net of debt discount of $673,102 and $308,280, respectively	`ConvertibleLongTermNotesPayable`	$101.90K	USD	Point-in-time
Convertible notes payable, net of debt discount of $673,102 and $308,280, respectively	`ConvertibleLongTermNotesPayable`	$172.86K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$697.28K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$876.56K	USD	Point-in-time
Total long term debt	`LiabilitiesNoncurrent`	$978.46K	USD	Point-in-time
Total long term debt	`LiabilitiesNoncurrent`	$870.13K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.45M	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 March 31, 2018 and December 31, 2017	`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 March 31, 2018 and December 31, 2017	`PreferredStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 2,139,307,875 and 2,103,464,006 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$2.14M	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 2,139,307,875 and 2,103,464,006 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$2.10M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$31.81M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$30.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-42.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.74M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-10.32M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.78M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.08M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$5.89K	USD	1 Quarter
Sales	`Revenues`	$19.01K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.35K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$10.45K	USD	1 Quarter
Gross Profit	`GrossProfit`	$8.56K	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.54K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$301.48K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$17.98M	USD	1 Quarter
Depreciation	`Depreciation`	$1.39K	USD	1 Quarter
Depreciation	`Depreciation`	$242.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$302.87K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-294.31K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-17.98M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-730.75K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-121.72K	USD	1 Quarter
Loss on equity investment	`GainLossOnInvestments`	-	USD	1 Quarter
Loss on equity investment	`GainLossOnInvestments`	$-37.67K	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$5.06M	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$19.89K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$156.84K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-101.83K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$4.45M	USD	1 Quarter
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$4.15M	USD	1 Quarter
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-18.08M	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-18.08M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasic`	$0.00	USD	1 Quarter
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$0.00	USD	1 Quarter
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted average number of common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.68B	shares	1 Quarter
Weighted average number of common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.12B	shares	1 Quarter
Weighted average number of common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.68B	shares	1 Quarter
Weighted average number of common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.11B	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-18.08M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Depreciation	`Depreciation`	$1.39K	USD	1 Quarter
Depreciation	`Depreciation`	$242.00	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$502.68K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$281.00	USD	1 Quarter
Non cash interest	`PaidInKindInterest`	$138.96K	USD	1 Quarter
Non cash interest	`PaidInKindInterest`	$187.86K	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$5.06M	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$19.89K	USD	1 Quarter
Fair value of liability warrants issued as inducement fee	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Fair value of liability warrants issued as inducement fee	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$17.67M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$-312.40K	USD	1 Quarter
(Gain) loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$156.84K	USD	1 Quarter
(Gain) loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on equity investment	`GainLossOnInvestments`	-	USD	1 Quarter
Loss on equity investment	`GainLossOnInvestments`	$-37.67K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.76K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.15K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$65.21K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-3.35K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$41.77K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.33K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$60.02K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$195.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-497.25K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-189.56K	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$75.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.20K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.86K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.20K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-79.86K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$99.97K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$400.00K	USD	1 Quarter
Proceeds from issuance of notes payable, related party	`ProceedsFromRelatedPartyDebt`	$21.71K	USD	1 Quarter
Proceeds from issuance of notes payable, related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$85.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$421.71K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$184.97K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-79.75K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-84.46K	USD	1 Quarter
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$147.49K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$63.03K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$170.09K	USD	Point-in-time
Cash-beginning 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`	$63.03K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$170.09K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Common stock issued in settlement of convertible notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Common stock issued in settlement of convertible notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$382.65K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance common stock, shares	`CommonStockSharesOutstanding`	2.10B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	2.14B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-10.32M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.78M	USD	Point-in-time
Common stock issued for services rendered, value	`StockIssuedDuringPeriodValueIssuedForServices`	$52.10K	USD	1 Quarter
Common stock issued in settlement of convertible notes payable, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Common stock issued in settlement of convertible notes payable, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$382.65K	USD	1 Quarter
Common stock issued in exchange for exercise of warrants on a cashless basis, value	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Reclassification of derivative liabilities	`AdjustmentsToAdditionalPaidInCapitalOther`	$627.44K	USD	1 Quarter
Reclassification of warrant liability	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$691.85K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-364.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-18.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Balance common stock, shares	`CommonStockSharesOutstanding`	2.10B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	2.14B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-10.32M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.78M	USD	Point-in-time

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