Z TRIM HOLDINGS, INC

CIK:0001052257|SEC Filings

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
Statements of Operations (Unaudited) - USD ($)	Mar. 31, 2017	Mar. 31, 2016
REVENUES:
Products	$ 402,962	$ 269,018
Total revenues	402,962	269,018
COST OF REVENUES:
Products	487,565	499,694
Total cost of revenues	487,565	499,694
GROSS MARGIN (LOSS)	(84,603)	(230,676)
OPERATING EXPENSES:
Selling, general and administrative	372,604	435,026
Total operating expenses	372,604	435,026
OPERATING LOSS	(457,207)	(665,702)
OTHER INCOME (EXPENSES):
Miscellaneous income	17,529
Interest expense - debt	(164,245)	(93,311)
Change in fair value - derivatives	(240,378)	102,776
Total other income (expenses)	(387,094)	9,465
NET LOSS	(844,301)	(656,237)
Less preferred dividends	87,488	88,983
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (931,789)	$ (745,220)
NET LOSS PER SHARE - BASIC AND DILUTED	$ (0.01)	$ (0.01)
Weighted Average Number of Shares Basic and Diluted	154,976,459	93,797,504

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
Statements of Cash Flows (Unaudited) - USD ($)	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (844,301)	$ (656,237)
Adjustments to reconcile loss from continuing operations to net cash used in operating activities:
Stock based compensation -common shares, stock options and warrants vested	23,165	52,612
Amortization of debt discount		678
Depreciation	25,736	27,162
Change in fair value of derivative liability	240,378	(102,776)
Changes in operating assets and liabilities:
Accounts receivable	(180,856)	91,920
Inventory	4,786	7,221
Prepaid expenses and other assets	(55,490)	23,742
Account payable, related party		47,998
Accounts payable and accrued expenses	105,101	(125,385)
CASH USED IN OPERATING ACTIVITIES	(681,481)	(633,065)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(31,140)
CASH USED IN INVESTING ACTIVITIES	(31,140)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on capital lease	(389,268)
Borrowing on short term debt to unrelated parties		200,000
Borrowing on short term debt to related parties		150,000
Related parties line of credit advances, net	100,972
Borrowing on senior secured notes	996,000
Principal payments on debt
CASH PROVIDED BY FINANCING ACTIVITIES	707,704	350,000
NET DECREASE IN CASH	(4,917)	(283,065)
CASH AT BEGINNING OF PERIOD	20,773	309,851
CASH AT THE END OF THE PERIOD ENDED MARCH 31	15,856	26,786
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for interest	39,496
Discount on debt due to derivatives		11,898
Preferred dividends payable declared	$ 87,488	$ 88,983

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 15,856	$ 20,773
Accounts receivable	213,469	32,613
Inventory	86,299	91,085
Prepaid expenses and other assets	5,361	9,986
Total current assets	320,985	154,457
Long Term Assets
Property and equipment, net of depreciation	372,269	366,865
Other assets	88,000	27,886
Total long term assets	460,269	394,751
TOTAL ASSETS	781,254	549,208
Current Liabilities
Accounts payable	912,341	833,453
Preferred dividends payable	715,500	628,012
Short-term notes payable to unrelated parties	1,850,000	1,850,000
Short-term non-convertible notes payable to related parties	1,257,000	1,257,000
Short-term convertible notes payable to related parties	624,866	624,866
Accrued expenses and other	966,252	940,040
Accrued liquidated damages	36,178	36,178
Capital lease payable, short term		389,268
Derivative liabilities	371,421	131,043
Related parties line of credit	180,202	79,230
Senior secured notes payable	996,000
Total Current Liabilities	7,909,760	6,769,090
Total Liabilities	7,909,760	6,769,090
Stockholders' Equity (Deficit)
Common Stock, $0.00005; authorized 500,000,000; shares issued and outstanding is 154,976,459 at March 31, 2017 and December 31, 2016	7,770	7,770
Common Stock Payable	4,573	4,573
Additional paid-in capital	153,281,347	153,345,670
Accumulated deficit	(160,429,292)	(159,584,991)
Total Stockholders' Equity (Deficit)	(7,128,506)	(6,219,882)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	781,254	549,208
Convertible perferred stock, Series B
Stockholders' Equity (Deficit)
Convertible preferred stock, Series B, $0.01 par value authorized 3,000,000 shares; issued and outstanding 709,625 at both March 31, 2017 and December 31, 2016	$ 7,096	$ 7,096