Agricon Global Corp

CIK:0000726293|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue:
Rental income	$ 0	$ 3,600	$ 0	$ 7,200
Consulting services	0	0	22,725	0
Total Revenue	0	3,600	22,725	7,200
Operating Expenses:
Selling, general and administrative	4,016,976	108,546	5,782,630	164,399
Total Operating Expenses	4,016,976	108,546	5,782,630	164,399
Loss from Operations	(4,016,976)	(104,946)	(5,759,905)	(157,199)
Other Income (Expense):
Loss on investment in joint venture	(23,762)	0	(36,300)	0
Interest expense	(356,362)	(4,391)	(687,671)	(8,781)
Total Other Expense	(380,124)	(4,391)	(723,971)	(8,781)
Net Loss	$ (4,397,100)	$ (109,337)	$ (6,483,876)	$ (165,980)
Net loss per common share - basic and diluted	$ (0.07)	$ (0.02)	$ (0.11)	$ (0.03)
Weighted average common shares outstanding - basic and diluted	63,374,133	8,034,354	60,644,049	6,612,068

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows From Operating Activities
Net loss	$ (6,483,876)	$ (165,980)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	36,018	31,999
Amortization expense	528,850	0
Share-based compensation	404,004
Stock issued for services	472,830	0
Amortization of debt discount	542,130	0
Loss on investment in joint venture	36,300	0
Noncash lease expense	8,257	0
Noncash license costs	2,024,977	0
Operating expenses and interest paid through member contributions	0	69,088
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(276,078)	0
Accounts payable	663,115	0
Accrued liabilities	917,207	0
Related party payables	169,329	72,100
Operating lease liability	(8,257)	0
Other assets	(4,424)	0
Net Cash Provided by (Used in) Operating Activities	(969,618)	7,207
Cash Flows From Investing Activities
Investments in joint venture	(570,609)	0
Purchase of property and equipment	(992,539)	0
Net Cash Used in Investing Activities	(1,563,148)	0
Cash Flows From Financing Activities
Proceeds from issuance of notes payable	1,478,838	0
Proceeds from issuance of convertible notes payable	1,304,000	0
Principal payments on notes payable	(6,688)	0
Principal payments on unsecured notes payable, related parties	(135,000)	0
Net Cash Provided by Financing Activities	2,641,150	0
Net Increase in Cash	108,384	7,207
Cash at Beginning of Year	89,550	0
Cash at End of Year	197,934	7,207
Noncash Investing and Financing Information:
Long-term assets purchased through share issuance	5,056,477	0
Long-term assets purchased through accounts payable	1,118,349	0
Long-term assets purchased through related party payables	910,564	117,142
Long-term assets contributed to joint venture	52,450	0
Debt discount on convertible notes payable	1,099,813	0
Issuance of common stock for investment in joint venture	500,000	0
Construction in process contingent liability	544,464	0
Payments on note payable through member contributions	0	6,332
Operating expenses paid through member contributions	0	69,088
Interest paid through member contributions	$ 0	$ 8,781

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 197,934	$ 89,550
Prepaid expenses and other current assets	293,499	17,421
Total current assets	491,433	106,971
Operating lease right-of-use asset	250,019	258,276
Property and equipment, net	8,935,727	5,247,309
Intangible assets, net	2,291,680	0
Goodwill	9,245,953	9,245,953
Investment in joint ventures	1,086,759	0
Other assets	4,424	0
Total Assets	22,305,995	14,858,509
Current Liabilities
Accounts payable	2,522,124	740,660
Accrued liabilities	1,055,285	314,715
Related party payables	1,185,450	106,093
Notes payable related parties	895,943	958,467
Current portion of operating lease liability	17,799	16,935
Current portion of notes payable, net of discount	1,553,525	23,355
Convertible notes payable, net of discount	1,225,043	0
Total current liabilities	8,455,169	2,160,225
Operating lease liability, net of current portion	232,220	241,341
Notes payable, net of current portion and discount	709,614	710,972
Total Liabilities	9,397,003	3,112,538
Commitments and Contingencies	545,000	0
STOCKHOLDERS' EQUITY
Preferred stock, $.0001 par value, 400,000 shares authorized; no shares issued and outstanding	0	0
Common stock $.0001 par value, 100,000,000 shares authorized; 63,098,055 and 57,116,055 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively.	6,311	5,712
Additional paid-in capital	22,310,894	15,209,596
Accumulated deficit	(9,953,213)	(3,469,337)
Total stockholders' equity	12,363,992	11,745,971
Total Liabilities and Stockholders' Equity	$ 22,305,995	$ 14,858,509