Elite Data Services, Inc.

CIK:0000704366|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
REVENUES
OPERATING EXPENSES
Consulting services	6,500	30,000
Accounting	58,900	5,000
Wages	80,000	65,000
General and administrative	6,434	2,172
Total Operating Expenses	151,834	102,172
LOSS FROM OPERATIONS	(151,834)	(102,172)
OTHER INCOME (EXPENSE):
Debt settlement	2,658,555
Derivative income (expense)	(16,662)	(3,279,705)
Interest expense - other	(104,076)	(131,782)
Total Other Income (Expense)	2,537,817	(3,411,487)
NET LOSS BEFORE PROVISION FOR INCOME TAXES	2,385,983	(3,513,659)
Non-controlling interest		(190)
COMPREHENSIVE LOSS BEFORE PROVISION FOR INCOME TAXES	2,385,983	(3,513,849)
PROVISION FOR INCOME TAX (BENEFIT)
COMPREHENSIVE GAIN (LOSS)	$ 2,385,983	$ (3,513,849)
Basic and Diluted Per Share Data:
Net Gain (Loss) Per Share - basic	$ .02	$ (26.57)
Net Gain (Loss) Per Share - Diluted	$ .00
Weighted Average Common Shares Outstanding:
Basic	101,075,307	132,219
Diluted	1,577,807,500

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Mar. 31, 2020	Mar. 31, 2019
OPERATING ACTIVITIES
Net gain (loss)	$ 2,385,983	$ (3,513,659)
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss on debt settlement
Stock issued for accrued interest and penalties
(Gain) loss on settlement of derivative
Derivative expenses	(16,662)	(3,279,705)
Forgiven debt and accrued interest	(2,658,555)
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	153,155	233,954
Net cash used in operating activities	(102,755)
Cash flows provided by financing activities:
Proceeds from convertible debt	53,000
Proceeds from notes payable	50,000
Net cash provided by financing activities	103,000
NET INCREASE IN CASH	245
CASH END OF PERIOD	245
SUPPLEMENTAL DISCLOSURES:
Income taxes paid
Interest paid
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Cash paid for accrued interest	53,337
Issuance of preferred stock for conversion of accounts payable and accrued liabilities	2,704,112
Non-cash acquisition	$ 554,000

CONDENSED BALANCE SHEETS - USD ($)	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash	$ 245
Total Current Assets	245
OTHER ASSETS:
Equipment	54,000
Rights commitment	500,000
Total Assets	554,245
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	2,704,112	3,680,901
Derivative instrument liability	583,668	567,006
Notes payable	100,000	50,000
Convertible notes payable	2,140,818	3,987,818
Total Liabilities	5,528,598	8,285,725
STOCKHOLDERS? DEFICIT:
Preferred stock, $0.0001 par value; 500,000,000 shares authorized; issued and outstanding 1,103,714 and 1,100,000, respectively	110	110
Common stock, $0.0001 par value; 10,000,000,000 shares authorized; issued and outstanding 101,075,307 and 101,075,307, respectively	10,108	10,108
Additional paid in capital	19,340,952	18,415,563
Deficit accumulated	(24,325,523)	(26,711,506)
Total Stockholders' Deficit	(4,974,353)	(8,285,725)
Total Liabilities and Stockholders' Deficit	$ 554,245