BINGHAM CANYON CORP

CIK:0001119897|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
REVENUES
Product	$ 38,893	$ 33,279	$ 111,163	$ 204,138
Licensing	9,000	75,347	18,097	225,122
Equipment leases	241,604	258,104	744,812	802,132
Total Revenues	289,497	366,730	874,072	1,231,392
OPERATING EXPENSES
General and administrative	551,921	1,031,072	2,008,782	2,583,139
Research and development	119	14,783	5,444	29,738
Cost of product, licensing and equipment leases	6,321	85,591	81,112	225,960
Depreciation and amortization	125,414	98,364	357,799	295,092
Total operating expenses	683,775	1,229,810	2,453,137	3,133,929
Loss from operations	(394,278)	(863,080)	(1,579,065)	(1,902,537)
OTHER INCOME (EXPENSE)
Gain on change in fair value of derivative liability	51,008	457,116	2,061,774	1,749,277
Gain on settlement of debt	(1,011)	361,357	68,259	3,689,055
Interest expense	(154,182)	(101,580)	(330,424)	(378,223)
Misc. income				50,000
Total other income (expense)	(104,185)	716,893	1,799,609	5,110,109
Income (loss) before income taxes	(498,463)	(146,187)	220,544	3,207,572
Income taxes
NET (INCOME (LOSS)	$ (498,463)	$ (146,187)	$ 220,544	$ 3,207,572
Basic income (loss) per share	$ (0.00)	$ (0.00)	$ 0.00	$ 0.00
Diluted income (loss) per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Basic weighted average shares outstanding	806,882,966	773,082,751	797,708,252	760,229,694
Diluted weighted average shares outstanding	806,882,966	773,082,751	899,948,629	1,024,432,537

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net income	$ 220,544	$ 3,207,572
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	357,799	295,092
Amortization of debt discount	133,596	240,413
Common stock issued for services		267,830
(Gain) loss on change in fair value of derivative liability	(2,061,774)	(1,749,277)
Amortization of right of use asset	30,775	39,182
(Gain) loss on settlement of debt	(68,259)	(3,689,055)
Default penalties on convertible notes		15,172
Stock-based compensation	47,242
Changes in operating assets and liabilities:
Accounts receivable	71,308	3,679
Inventory	(1,660)	(6,130)
Prepaid expenses	53,090	(8,543)
Deposits		9,726
Other assets	1,000	(16,740)
Operating lease liability	(30,775)	(39,182)
Accounts payable	488,791	(212,125)
Accrued expenses - related party	3,648	14,887
Accrued expenses	166,989	165,479
Net cash used in operating activities	(587,686)	(1,279,320)
Cash Flows from Investing Activities
Purchase of equipment	(402,005)	(28,138)
Net cash used for by investing activities	(402,005)	(28,138)
Cash Flows from Financing Activities
Proceeds from advances payable	500,000	1,450,000
Proceeds from notes payable	463,965	410,377
Proceeds from notes payable - related parties	96,800
Proceeds from convertible notes payable	225,000	920,000
Proceeds from sale of common stock		175,000
Repayment of convertible notes payable	(120,465)	(673,989)
Repayment of notes payable	(255,648)	(796,036)
Repayment of notes payable - related parties	(5,000)	(53,763)
Net cash provided by financing activities	904,652	1,431,589
Net change in cash	(85,039)	124,131
Cash and cash equivalents at beginning of period	116,497	115,196
Cash and cash equivalents at end of period	31,458	239,327
Supplemental Cash Flow Information
Cash paid for interest	122,054	72,763
Cash paid for income taxes
Non-cash investing and financing activities:
Original debt discount against convertible notes	9,000	12,000
Original debt discount against notes payable	82,435	174,435
Initial derivative on convertible note	113,348
Cancellation of common stock	1,972
Note payable settled for non-cash consideration	122,900
Common stock issued for services		81,740
Common stock issued in conversion of convertible notes payable	125,250	149,000
Common stock issued in settlement of notes payable to related parties		653,310
Common stock issued in cashless exercise of warrants		34,594
Common stock issued in conversion of preferred series C stock		$ 40,000

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 31,458	$ 116,497
Accounts receivable, net	24,714	96,022
Inventory	38,614	36,954
Prepaid expenses		53,090
Other current assets	7,200	8,200
Total current assets	101,986	310,763
PROPERTY AND EQUIPMENT
Property and equipment, net	1,032,143	762,054
OTHER ASSETS
Intangible assets, net	2,872,138	3,098,021
Operating lease right-of-use asset	52,645	83,420
Total other assets	2,924,783	3,181,441
TOTAL ASSETS	4,058,912	4,254,258
CURRENT LIABILITIES
Accounts payable	561,664	72,873
Accrued expenses - related parties	230,492	226,844
Accrued expenses	845,913	691,364
Advances payable	500,000
Operating lease liability	48,213	42,012
Current portion of notes payable – related parties, net	177,650	85,850
Current portion of notes payable, net	404,049	133,144
Current portion of convertible notes payable, net	430,934	480,808
Derivative liability	1,026,338	3,044,034
Total current liabilities	4,225,253	4,776,929
LONG-TERM LIABILITIES
Convertible notes payable, net of current portion and discounts	1,465,300	1,465,300
Operating lease liability, net of current portion	4,432	41,408
TOTAL LIABILITIES	5,694,985	6,283,637
MEZZANINE EQUITY
Preferred series A stock, $0.001 par value; 1,000,000 authorized; 500,000 issued and outstanding at September 30, 2022 and December 31, 2021, respectively	60,398	60,398
Preferred series B stock, $0.001 par value; 1,000,000 authorized; 1,000,000 issued and outstanding at September 30, 2022 and December 31, 2021, respectively	158,247	158,247
Preferred series C stock, $0.001 par value; 1,500,000 authorized; 1,500,000 issued and outstanding at September 30, 2022 and December 31, 2021, respectively	2,250,000	2,250,000
TOTAL MEZZANINE EQUITY	2,468,645	2,468,645
STOCKHOLDERS' DEFICIT
Common stock, $0.001 par value; 1,000,000,000 authorized; 805,596,961 and 790,924,690 issued and outstanding at September 30, 2022 and December 31, 2021, respectively	805,596	790,924
Additional paid-in-capital	24,468,135	24,310,045
Accumulated deficit	(29,378,449)	(29,598,993)
TOTAL STOCKHOLDERS' DEFICIT	(4,104,718)	(4,498,024)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT	$ 4,058,912	$ 4,254,258