Brazil Interactive Media, Inc.

CIK:0000945617|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Consulting Services	$ 21,629	$ 307,685	$ 29,958	$ 468,500
Product & Equipment	86,788	374,209	104,389	737,759
Cannabis Products	323,461	170,835	553,252	358,856
Total Revenues	431,878	852,729	687,599	1,565,115
Cost of Revenues
Cost of Consulting Services		58,085		103,085
Cost of Products and Equipment	72,130	290,079	89,392	507,646
Cost of Cannabis Products	662,852	138,179	795,616	311,488
Total Cost of Revenues	734,982	486,343	885,008	922,219
Gross Profit	(303,104)	366,386	(197,409)	642,896
Operating Expenses
General and Administrative	249,309	437,996	481,444	1,081,600
Selling and Marketing	4,334	52,849	6,684	117,384
Stock-Based Compensation expense		7,935		17,021
Total Operating Expenses	253,643	498,780	488,128	1,216,005
Loss from Operations	(556,747)	(132,394)	(685,537)	(573,109)
Other Income (Expenses)
Interest Expense	(82,504)	(32,728)	(89,982)	(64,363)
Gain on fair market value of derivatives	3,080		3,080
Other Income	(1)	176,966	3,717	186,316
Total Other Income (Expenses)	(79,425)	144,238	(83,185)	121,953
Loss Before Income Taxes	(636,172)	11,844	(768,722)	(451,156)
Provision for income taxes
NET (Loss) Income	$ (636,172)	$ 11,844	$ (768,722)	$ (456,156)
Net loss per common share - basic	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.01)
Net loss per common share - diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.01)
Weighted average common shares - basic	185,800,915	85,727,938	184,300,055	84,795,246
Weighted average common shares - diluted	185,800,915	85,727,938	184,300,055	84,795,246

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (768,722)	$ (451,155)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	131,667	121,499
Discount amortization	67,150
Gain on change in fair market value of derivative liabilities	(3,080)
Right of use lease asset amortization	94,910	41,072
Changes in operating assets and liabilities:
Accounts receivable	97,706	175,807
Inventory	320,433	(155,318)
Prepaid expenses and other current assets	44,781	(4,021)
Accounts payable	169,434	130,165
Advances from clients	(123,368)	(124,492)
Accrued and other current liabilities	83,482	223,703
Litigation settlement liability	(7,500)	(87,500)
Operating Lease Liability	(94,909)	(41,072)
Net Cash Provided by (Used In) Operating Activities	19,484	(171,362)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(39,101)
Net Cash Used in Investing Activities		(39,101)
CASH FLOWS FROM FINANCING ACTIVITIES:
LTD Note Payable	(909)	185,660
Repayments of notes payable	(36,913)
Net Cash Provided by (Used in) Financing Activities	(37,822)	185,660
NET DECREASE IN CASH	(18,338)	(24,803)
CASH AT BEGINNING OF PERIOD	21,085	117,547
CASH AT END OF PERIOD	2,747	92,742
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes
Cash paid for interest
NONCASH INVESTING AND FINANCING:
Stock issued on conversion of debt	67,005
Settlement of derivative liability	$ 64,070

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and equivalents	$ 2,747	$ 21,085
Accounts receivable, Net	136,624	234,330
Inventory	265,773	586,206
Prepaid expenses and other current assets	13,976	58,757
Total Current Assets	419,120	900,378
Property and equipment, net	389,788	410,344
Other Assets
Intangible assets, net amortization	926,778	1,037,889
Right of use assets - operating leases, net	379,562	474,472
Long term deposits	6,000	6,000
Total Other Assets	1,312,340	1,518,361
TOTAL ASSETS	2,121,248	2,829,083
Current Liabilities
Accounts payable	1,180,132	1,010,698
Advances from clients	39,046	162,414
Accrued and other current liabilities	558,478	467,495
Stock payable	17,021	17,021
Right of use liabilities, all current	203,292	199,891
Litigation settlement, current	2,500	10,000
Note payables, current	195,937	300,000
Total Current Liabilities	2,196,406	2,167,519
LONG TERM LIABILITIES
LTD note payable	384,524	385,433
Right of use liabilities - LT	176,271	274,581
Total Long Term Liabilities	560,795	660,014
TOTAL LIABILITIES	2,757,201	2,827,533
Shareholders’ Equity
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2024 and December 31, 2023 , respectively
Common stock, $0.00001 par value; 500,000,000 shares authorized; 185,800,915 and 171,402,938 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	1,858	1,714
Additional paid-in capital	13,872,036	13,740,961
Accumulated deficit	(14,509,847)	(13,741,125)
Total Shareholders’ Equity	(635,953)	1,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,121,248	$ 2,829,083