10-Q Filing

MARIJUANA CO OF AMERICA, INC. CIK: 1078799 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001262463-19-000168`
Period End Date	20190331
Filing Date	20190520
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	mcoa-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 42 Cash Flow Statement 64 Stockholders Equity 25

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Convertible note payable, net of debt discount - current	`DebtInstrumentUnamortizedDiscountCurrent`	$896.18K	USD	Point-in-time
Convertible note payable, net of debt discount - current	`DebtInstrumentUnamortizedDiscountCurrent`	$1.39M	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`	$170.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$509.46K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$359.58K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Short-term Investments	`ShortTermInvestments`	$810.00K	USD	Point-in-time
Short-term Investments	`ShortTermInvestments`	$675.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$46.38K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$77.49K	USD	Point-in-time
Inventory	`InventoryNet`	$231.67K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$186.99K	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
Other current assets	`OtherAssetsCurrent`	$156.42K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$93.83K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.69B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.56B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.43K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.69B	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.07K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.56B	shares	Point-in-time
Investments	`Investments`	$477.58K	USD	Point-in-time
Investments	`Investments`	$408.08K	USD	Point-in-time
Security deposit	`SecurityDeposit`	$2.50K	USD	Point-in-time
Security deposit	`SecurityDeposit`	$2.50K	USD	Point-in-time
Total assets	`Assets`	$1.92M	USD	Point-in-time
Total assets	`Assets`	$2.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$433.45K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$416.44K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$442.66K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$454.32K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$187.99K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$216.95K	USD	Point-in-time
Debt obligation of Joint venture	`DebtCurrent`	$128.52K	USD	Point-in-time
Debt obligation of Joint venture	`DebtCurrent`	$289.74K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$287.14K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$396.78K	USD	Point-in-time
Convertible notes payable, net of debt discount of1,391,618 and $896,180, respectively	`ConvertibleNotesPayableCurrent`	$1.13M	USD	Point-in-time
Convertible notes payable, net of debt discount of1,391,618 and $896,180, respectively	`ConvertibleNotesPayableCurrent`	$1.54M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$4.96M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$2.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.05M	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, 2019 and December 31, 2018	`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, 2019 and December 31, 2018	`PreferredStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 2,687,790,776 and 2,561,238,082 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$2.56M	USD	Point-in-time
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 2,687,790,776 and 2,561,238,082 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$2.69M	USD	Point-in-time
Common stock subscriptions	`CommonStockSharesSubscriptions`	$90.00K	USD	Point-in-time
Common stock subscriptions	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$49.57M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$48.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-53.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.22M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.13M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-5.94M	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`	$1.92M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.14M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Sales	`Sales`	$19.01K	USD	1 Quarter
Sales	`Sales`	$113.27K	USD	1 Quarter
Related party Sales	`RevenueFromRelatedParties`	-	USD	1 Quarter
Related party Sales	`RevenueFromRelatedParties`	$1.54K	USD	1 Quarter
Total Revenues	`Revenues`	$19.01K	USD	1 Quarter
Total Revenues	`Revenues`	$114.81K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$10.45K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$39.88K	USD	1 Quarter
Gross Profit	`GrossProfit`	$8.56K	USD	1 Quarter
Gross Profit	`GrossProfit`	$74.93K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$987.34K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$301.48K	USD	1 Quarter
Depreciation	`Depreciation`	$1.39K	USD	1 Quarter
Depreciation	`Depreciation`	$1.70K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$989.04K	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`	$-914.11K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$436.28K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$730.75K	USD	1 Quarter
Impairment of Joint Ventures	`AssetImpairmentCharges`	$12.00K	USD	1 Quarter
Impairment of Joint Ventures	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on equity investments	`GainLossOnInvestments`	$-47.54K	USD	1 Quarter
Loss on equity investments	`GainLossOnInvestments`	$-37.67K	USD	1 Quarter
(Loss) gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-2.69M	USD	1 Quarter
(Loss) gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$5.06M	USD	1 Quarter
Unrealized loss on trading securities	`TradingSecuritiesUnrealizedHoldingGainLoss`	$-135.00K	USD	1 Quarter
Unrealized loss on trading securities	`TradingSecuritiesUnrealizedHoldingGainLoss`	-	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$156.39K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.32M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$4.45M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$4.15M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-4.23M	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$4.15M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-4.23M	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.33B	shares	1 Quarter
Weighted average number of common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.12B	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.23M	USD	1 Quarter
Depreciation	`Depreciation`	$1.39K	USD	1 Quarter
Depreciation	`Depreciation`	$1.70K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$495.44K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$502.68K	USD	1 Quarter
Non cash interest	`PaidInKindInterest`	$436.28K	USD	1 Quarter
Non cash interest	`PaidInKindInterest`	$187.86K	USD	1 Quarter
Unrealized loss on trading securities	`TradingSecuritiesUnrealizedHoldingGainLoss`	$-135.00K	USD	1 Quarter
Unrealized loss on trading securities	`TradingSecuritiesUnrealizedHoldingGainLoss`	-	USD	1 Quarter
Loss (Gain) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-2.69M	USD	1 Quarter
Loss (Gain) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$5.06M	USD	1 Quarter
Impairment of investment in BV joint venture	`ImpairmentOfInvestments`	-	USD	1 Quarter
Impairment of investment in BV joint venture	`ImpairmentOfInvestments`	$12.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$-312.40K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$254.20K	USD	1 Quarter
Gain on settlement of debt	`GainOnSettlementOfDebt`	$156.84K	USD	1 Quarter
Gain on settlement of debt	`GainOnSettlementOfDebt`	-	USD	1 Quarter
Loss on equity investment	`GainLossOnInvestments`	$-47.54K	USD	1 Quarter
Loss on equity investment	`GainLossOnInvestments`	$-37.67K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.15K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$31.12K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-65.21K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$44.68K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$62.59K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.33K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$69.28K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$36.44K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-11.66K	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`	$-207.10K	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$290.26K	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.33K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.20K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-292.59K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.20K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$649.58K	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`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$649.58K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$421.71K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-79.75K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$149.88K	USD	1 Quarter
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$170.09K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$509.46K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	USD	Point-in-time
Cash-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$359.58K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$170.09K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$509.46K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$249.83K	USD	Point-in-time
Cash-end of period	`CashAndCashEquivalentsAtCarryingValue`	$359.58K	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	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$462.71K	USD	1 Quarter
Common stock issued in settlement of convertible notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$382.65K	USD	1 Quarter

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance common stock, shares	`CommonStockSharesOutstanding`	2.69B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	2.56B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-3.13M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-5.94M	USD	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`	$153.85K	USD	1 Quarter
Common stock issued for services rendered, value	`StockIssuedDuringPeriodValueIssuedForServices`	$52.10K	USD	1 Quarter
Common stock issued in settlement of convertible notes payable, value	`DebtConversionConvertedInstrumentAmount1`	$382.65K	USD	1 Quarter
Common stock issued in exchange for exercise of warrants on a cashless basis, value	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Common stock issued in exchange for exercise of warrants on a cashless basis, value	`StockIssuedDuringPeriodValueOther`	$40.00K	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
Common stock issued in settlement of convertible notes payable and accrued interest, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$636.71K	USD	1 Quarter
Additional paid-in capital due to issuance of convertible debt	`AdjustmentsToAdditionalPaidInCapitalMarkToMarket`	$462.71K	USD	1 Quarter
Sale of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$129.06K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.23M	USD	1 Quarter
Balance common stock, shares	`CommonStockSharesOutstanding`	2.69B	shares	Point-in-time
Balance common stock, shares	`CommonStockSharesOutstanding`	2.56B	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-3.13M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-5.94M	USD	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.