$EESH

EESTech, Inc.

CIK:0001138867|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue recognized from contracts with customers		$ 84,260	$ 118,425	$ 138,137
Operating expenses:
General administrative	(336,606)	(505,907)	(1,089,078)	(1,013,478)
Total operating expenses	(336,606)	(505,907)	(1,089,078)	(1,013,478)
Loss from operations	(336,606)	(421,647)	(970,653)	(875,341)
Other income (expense):
Unrealized FX gain/(loss) on translation
Net loss	(336,606)	(421,647)	(970,653)	(875,341)
Other comprehensive loss:
Other comprehensive gain (loss) , net of tax	16,906	(21,143)	1,845	(47,611)
Total comprehensive loss	(319,700)	(442,790)	(968,808)	(922,952)
Net loss is attributable to:
Owners of EESTech, Inc.	(308,997)	(341,498)	(905,610)	(729,696)
Non-Controlling Interests	(27,609)	(80,149)	(65,043)	(145,645)
Total comprehensive loss for the year is attributable to:
Owners of EESTech, Inc.	(292,091)	(362,641)	(903,765)	(777,307)
Non-Controlling Interests	$ (27,609)	$ (80,149)	$ (65,043)	$ (145,645)
Net loss per share	$ (0.001)	$ (0.001)	$ (0.003)	$ (0.003)
Weighted average number of common shares outstanding – basic and diluted	273,630,798	240,034,733	274,346,581	250,073,046

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (970,653)	$ (875,341)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation	16,871	10,608
Shares issued for services and settlement of liabilities	83,015	96,643
Changes in assets and liabilities:
Decrease in accrued expenses	(75,388)	(35,266)
Decrease (increase) in other receivables	12,718	(1,792)
Increase in prepaid expenses	(14,804)	(38,957)
Increase in contract liability	84,187
Increase (decrease) in accounts payable	104,318	(52,737)
Net cash used in operations	(759,736)	(896,842)
Cash flows used by investing activities:
Acquisition of plant and equipment	(28,714)	(8,242)
Net cash used in investing activities	(28,714)	(8,242)
Cash flows from financing activities:
Issuance of common stock	193,218	1,272,016
Loan proceeds from shareholder	10,093
Repayments to shareholder		(21,768)
Net cash provided by financing activities	203,311	1,250,248
Comprehensive gain (loss) on translation	(11,671)	(50,776)
Net (decrease) increase in cash	(596,810)	294,388
Cash, beginning of period	642,456	416,811
Cash, end of period	45,646	711,199
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of stock for services and extinguishment of debt	$ 83,015	$ 96,643

Condensed Consolidated Interim Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 45,646	$ 642,456
Prepaid expenses	32,638	17,834
Other receivables	4,926	17,644
Total current assets	83,210	677,934
OTHER NON-CURRENT ASSETS
Property and equipment, net	43,467	31,978
Total non-current assets	43,467	31,978
Total assets	126,677	709,912
Current liabilities:
Accounts payable	422,090	317,772
Accrued expenses	149,515	224,903
Contract liability	84,187
Total current liabilities	655,792	542,675
Stockholders’ equity (deficit):
Common stock, $0.001 par value, 450,000,000 shares authorized; and 276,991,955 shares issued and outstanding at September 30, 2023 and 273,289,914 as at December 31, 2022, respectively	278,167	274,465
Additional paid-in capital	38,592,458	38,323,704
Accumulated deficit	(36,679,332)	(35,773,722)
Accumulated comprehensive loss	(1,567,338)	(1,569,183)
Total stockholders’ equity attributable to EESTech Inc.	623,955	1,255,264
Non-controlling interest in subsidiaries	(1,153,070)	(1,088,027)
Total stockholders’ equity (deficit)	(529,115)	167,237
Total liabilities and stockholders’ equity	$ 126,677	$ 709,912