VIEW SYSTEMS INC

CIK:0001075857|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total revenue	$ 2,904	$ 1,400
Operating expenses:
General and administrative	119,032	86,721
Depreciation and amortization	4,607
Professional fees	44,292	62,159
Salaries and benefits	240,000	566,299
Total operating expenses	407,931	715,179
Loss from operations	(405,027)	(713,779)
Other income (expense):
Derivative expense	(474,846)	(383,010)
Interest expense	(232,929)	(142,187)
Total other (expense)	(707,775)	(525,197)
Net (loss)	$ (1,112,802)	$ (1,238,976)
Net (loss) per share (basic and diluted)	$ 0.00	$ 0.00
Weighted average shares outstanding (basic and diluted)	1,693,086,344	390,579,210
Royality Income [Member]
Revenues:
Total revenue	$ 2,904
Extended Warranties [Member]
Revenues:
Total revenue		$ 1,400

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (1,112,802)	$ (1,238,976)
Accretion of debt discount	226,387	113,923
Change in value of derivative liability	474,846	383,010
Depreciation and amortization	4,607
(Increase) decrease in cash from:
Investment in related parties		(20,000)
Increase (decrease) in cash from:
Accounts payable and accrued expenses	37,364	33,472
Deferred compensation	240,004	492,115
Accrued interest payable	9,177	28,264
Deferred revenue		(1,400)
Net cash used in operating activities	(120,417)	(209,592)
Cash flows from financing activities:
Bank overdraft		(73)
Repayments of stockholders loans	(3,000)
Proceeds from stock subscriptions	22,000	4,500
Repayment of notes payable	(55,858)
Proceeds from notes payable	157,660	206,000
Net cash provided by financing activities	120,802	210,427
Increase in cash	385	835
Cash at beginning of the year	835
Cash at end of the year	$ 1,220	$ 835

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 1,220	$ 835
Investment in related party	20,000	20,000
Total current assets	21,220	20,835
Other Assets
Intangible asset - net	19,108
Total assets	40,328	20,835
Current liabilities:
Accounts payable & accrued expenses	110,684	161,715
Accrued and withheld payroll taxes payable	134,237	134,237
Accrued compensation	732,119	492,115
Accrued interest payable	23,018	13,841
Loan from stockholders	263,512	266,512
Notes payable	215,270	142,421
Derivative liability	636,014	383,852
Total current liabilities	2,114,854	1,594,693
Stockholders's Deficit
Convertable prefered stock, authorized 10,000,000 shares,$0.001 par value, issued and outstanding 5,589,647	5,590	5,590
Common stock , authorized 5,000,000,000 shares,$0.001 par value, shares issued and outstanding of 3,925,641,882 and 560,915,727, respectively	3,925,641	560,915
Common stock issuable	42,500	20,500
Additional paid -in- capital	25,095,422	27,870,014
(Deficit)	(31,143,679)	(30,030,877)
Total stockholders' deficit	(2,074,526)	(1,573,858)
Total liabilities and stockholders' deficit	$ 40,328	$ 20,835