FRESH PROMISE FOODS, INC.

CIK:0001058330|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues	$ 1,198,434		$ 1,198,434
Cost of Goods Sold	1,019,678		1,019,678
Gross Profit	178,755		178,755
Operating expenses:
Board member fees		15,000		45,000
General and administrative	300,986	43,678	688,529	61,429
Professional fees		9,000		76,935
Depreciation	16,870		16,870
Total operating expenses	317,857	67,678	705,400	183,364
Profit (Loss) from operations	(139,101)	(67,678)	(526,644)	(183,364)
Derivative liability expense		(27,713)		(129,961)
Gain (Loss) on change in value of derivative liabilities	(187,035)	(137,316)	(635,633)	(2,730,012)
Interest expense	(72,189)	(76,212)	(212,513)	(199,153)
Other income (expenses)			(4,842)
Assets impairment	(14,418)		(14,418)
Liabilities write-off	163,236		163,236
Total others	(110,406)	(241,241)	(704,170)	(3,059,126)
Net profit (loss)	(249,507)	(308,919)	(1,230,814)	(3,242,490)
Net profit (loss) attributable to noncontrolled interest
Tequila Armero S.A de C.V
Industrias Naturales de Tequilas S.A de C.V	19,080		19,080
Tequila Copter S.A., de C.V	20,426		20,426
Sobre Todo Alimentacion S.A., de C.V	3,773		3,773
Turasu SPR de RL	18,706		18,706
Total Net (profit) loss attributable to noncontrolled interest	61,985		61,985
Net profit (loss) attributable to common shareholders	$ (187,523)	$ (308,919)	$ (1,168,829)	$ (3,242,490)
Net income (loss) per share applicable to common stockholders - basic	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.03)
Net income (loss) per share applicable to common stockholders - diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.03)
Weighted average number of common shares outstanding - basic	115,739,401	97,081,861	115,739,401	97,081,861
Weighted average number of common shares outstanding - diluted	115,739,401	97,081,861	115,739,401	97,081,861

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (1,230,814)	$ (566,221)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	16,870
Amortization of debt discount	35,000	49,450
Common stock issued in exchange for fees and services		40,000
Preferred stock issued as compensation to employees, officers and/or directors	90,000
Prepaid expenses and other current assets	(145,000)
Preferred stock issued in exchange for fees and services		129,961
(Gain) loss on change in value of derivative liabilities	635,634	(104,386)
Accounts receivable	(258,600)
Inventory	25,745
Other investments - Associated companies
Other current assets	234
Assets impairement	14,418
Account payable	(520,382)
Accrued liabilities	1,718,718	345,438
Other liabilities	114,514
Related party loans		4,350
Payroll liabilities	190,629
Other current liabilities	(110)
Contingencias and Commitments	201,667
Net cash used in operating activities	1,013,523	(101,408)
Cash flows from investing activities:
Cash received from merger transaction	179,815
Goodwill	14,418
Net cash used in investing activities	194,233
Cash flows from financing activities:
Proceeds from issuance of common stock	227,713	20,000
Loan receivable	(50,000)
Proceeds from issuance of preferred stock	60,000
Notes payable	(50,787)
Proceeds from short term loans	(1,364,501)
Related party loans	1,550
Proceeds from short term loans	12,500
Proceeds from promissory note	(0)	81,500
Net cash provided by financing activities	(1,163,526)	101,500
Net increase (decrease) in cash and cash equivalents	44,231	92
Cash and cash equivalents, beginning of period	111	19
Cash and cash equivalents, end of period	44,342	111
Non-Cash Investing and Financing Activities
Common stock issued to reduce convertible promissory notes payable	892,536
Series E preferred stock issued in lieu of cash for accrued officer compensation	225,000
Common stock issued in connection with the acquisition of a business	8,467,377
Preferred stock issued in connection with the acquisition of a business	$ 10,777,500

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 44,342	$ 111
Accounts receivable	826,297
Inventory	6,996,553
Other assets	128,080
Fully controlled companies	8,400
Associated companies	703,740
Shares publicly traded - SRSG -	7,432,862
Total current assets	16,140,274	111
Property and equipment, net of $16,870 depreciation	314,976
Loans	50,000
Intangible Assets	94,411
Goodwill	10,804,239
Assets pledged	246,102
Total noncurrent assets	11,509,728
Total assets	27,650,002	111
Current liabilities:
Accounts payable	1,785,337	165,466
Other liabilities	1,678,775	1,555,862
Payroll liabilities	346,020
Related party loans	351,233
Loans and Notes payable	526,768
Notes payable third party	12,500
Notes payable related party	6,055	4,505
Convertible notes payable	1,485,948	1,559,803
Convertible notes payable - accrued interest -	743,643
Derivative liabilities	2,934,454	2,298,820
Bank overdraft	179
Total current liabilities	9,870,910	5,584,456
Lease liabilities
SBA loan	155,972
Other liabilities
Total liabilities	10,026,882	5,584,456
Commitments and Contingencies
Common Stock to be Issued	378,439
Preferred Shares Series E Conversion rights	225,000
APIC on Shares to be Issued	18,843,105
Noncontrolling interest	3,408,995
Stockholders' equity
Preferred stock - Series A, $0.00001 par value. 69,999,990 shares authorized; 10,000,000 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	100	100
Preferred stock - Series D, $0.00001 par value. 1 share authorized; zero 0 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively
Preferred stock - Series E, $0.00001 par value. 50 shares authorized; 48 and 20 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively
Common stock, $0.001 par value. 1,000,000,000 shares authorized; 131,678,082 and 101,925,194 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively
Additional paid-in capital	10,536,740	8,984,757
Accumulated other comprehensive loss	(15,900,941)	(14,670,127)
Total stockholders' equity	17,623,120	(5,583,345)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 27,650,002	$ 111