ECO INNOVATION GROUP, INC.

CIK:0001144169|SEC Filings

CONSOLIDATED PROFIT AND LOSS STATEMENT (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 191,231	$ 0	$ 618,992	$ 0
Cost of Revenue	133,277		564,693
Gross Profit	57,954		54,299
Operating Expenses
General and Administrative	196,916	245,036	507,881	387,440
Development and Manufacture Expenses				165
Executive Compensation	75,000	75,000	225,000	425,000
Consulting Fee	31,800	126	203,550	673,097
Total Operating Expense	303,716	446,536	936,431	1,485,702
Operating Loss	(245,762)	(446,536)	(882,132)	(1,485,702)
Other Income (Expenses)
Derivative gain (loss)	1,027,564	(64,080)	362,662	160,795
Warrant gain	4,200	22,282	131,925	22,282
Loss on conversion of debt			(8,692)
Impairment loss - Investment	(4,194)		(63,253)
Other expense	(350,000)	(38,519)	(1,086,323)	(331,019)
Interest expense	(105,248)	(110,874)	(708,873)	(764,139)
Total Other Income (Loss)	572,322	(191,191)	(1,372,554)	(912,081)
Net income (loss)	326,560	(637,727)	(2,254,686)	(2,397,783)
Net (income) loss attributable to noncontrolling interest	(87)		17,670
Net income (loss) attributable to Eco Innovation Group	326,473	(637,727)	(2,237,016)	(2,397,783)
Currency translation loss	1,890		6,719
Comprehensive Income (Loss)	$ 328,363	$ (637,727)	$ (2,230,297)	$ (2,397,783)
Basic Earnings (Loss) per Common Share	$ 0.00	$ (0.00)	$ (0.00)	$ (0.01)
Diluted Earnings (Loss) per Common Share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.01)
Weighted Average Common Shares Outstanding Basic	685,287,383	175,879,122	481,875,070	171,363,560
Weighted Average Common Shares Outstanding Diluted	2,629,540,226	175,879,122	481,875,070	171,363,560

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,254,686)	$ (2,397,783)
used by operating activities:
Derivative (gain) loss	(362,662)	(160,795)
Warrant (gain) loss	(131,925)	(22,282)
Depreciation expense	7,992
Loss on conversion of debt	8,692
Investment impairment loss	63,253
Amortization of debt discount	647,418	184,333
Interest expense on derivative issuance		493,729
Share payable expense	1,086,323	331,018
Stock based compensation	76,800	509,600
Changes in operating assets and liabilities
Accounts receivable	(19,735)
Prepaid expenses	(25,872)	41,667
Deferred Revenue	7,302
Accounts payable and accrued expenses	246,192	649,825
Accounts payable related party	114,327
Net cash used in operating activities	(536,581)	(370,688)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and equipment		(1,000)
Purchase of intangible assets		(67,640)
Net cash used in investing activities		(68,640)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible debenture	112,800	505,482
Repayment of convertible debentures	(8,500)	(217,250)
Proceeds from sale of common stock	167,900	45,450
Proceeds from sale of preferred C stock	190,000	115,000
Repayment of notes payable	(2,509)
Proceeds from convertible notes payable, related party	68,000
Repayment of convertible notes payable, related party	(8,000)
Net cash provided by financing activities	519,691	448,682
Effect of foreign exchange on cash	3,754
Change in cash	(13,136)	9,354
Cash, beginning of period	28,534	84
Cash, end of period	15,398	9,438
Supplemental Cash Flow information
Cash paid for interest
Cash paid for income taxes		44,155
Non-Cash transactions
Common stock issued for investment		650,000
Common stock issued for Conversion of notes payable	305,827	14,188
Common stock issued for prepaid expenses		100,000
Common stock issued for Conversion of Series C Preferred stock liability	232,313
Discount issued on convertible debt	188,000
Intangible asset Capitalized		249,560
Settlement of derivative liability upon conversion of notes payable	617,480
Extinguishment of liabilities upon debt modification	$ 1,069,184

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 15,398	$ 28,534
Accounts receivable	52,782	33,047
Prepaid expenses	222,758	82,498
Total Current Assets	290,938	144,079
Other Assets
Furniture and Equipment	33,982	41,974
Goodwill	103,188	103,188
Investment	12,580	75,833
Deposits and other assets	13,612	8,000
Total Other Assets	163,362	228,995
Total Assets	454,300	373,074
Current Liabilities
Accounts Payable and accrued expenses	429,816	335,845
Accounts Payable related party	505,704	381,800
Convertible Notes Payable, net	183,642	129,219
Notes Payable	122,216	127,690
Deferred Revenue	7,302
Warrant Liability	3,600	135,525
Share Payable Liability	1,953,208	866,885
Derivative liabilities	725,974	2,328,234
Convertible Notes Payable Related Party, net	279,553	138,073
Series C Preferred stock liability, net	129,164	210,432
Total Current Liabilities	4,340,179	4,653,703
Total Liabilities	4,340,179	4,653,703
Stockholders' Deficit
Preferred stock, par value $0.001, authorized 50,000,000 shares, issued and outstanding 30,000,000 shares	30,000	30,000
Common stock, par value $0.0001, authorized 6,000,000,000 shares, issued and outstanding 780,605,058 and 196,912,036 shares at September 30, 2022 and December 31, 2021, respectively	78,063	19,691
Common shares to be issued, 0 and 1,000,000 as of September 30, 2022 and December 31, 2021, respectively		100
Additional paid-in capital	10,823,424	8,238,979
Other comprehensive income	6,701	(18)
Accumulated deficit	(14,831,992)	(12,594,976)
Total Stockholders' Deficit Attributable to Eco Innovation Group stockholders	(3,893,804)	(4,306,224)
Noncontrolling interest	7,925	25,595
Total stockholder's (Deficit)	(3,885,879)	(4,280,629)
TOTAL LIABILITIES and Stockholders' Deficit	$ 454,300	$ 373,074