Tongji Healthcare Group, Inc.

CIK:0001389518|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Total revenue, net	$ 417,403	$ 347,474	$ 818,949	$ 699,251
Cost of sales	315,079	218,004	588,325	436,892
Gross profit	102,324	129,470	230,624	262,359
Operating expenses:
Advertising expenses	1,196	9,131	3,887	24,174
Selling, general, and administrative	110,201	117,049	198,238	273,799
Salaries & wages	230,712	339,233	462,345	461,130
Professional and consultant fees	10,095	44,005	92,837	73,931
Total operating expenses	352,204	509,418	757,307	833,034
Operating Income (Loss)	(249,880)	(379,948)	(526,683)	(570,675)
Other (income) expenses:
Interest expense, net	114,920	200,026	301,732	371,762
Amortization of debt discounts, net		13,153		140,144
Other (income) expense, net		(1,731)		(15,268)
Gain related to debt activities	71,772		(77)
Change in fair value of derivative liability	(56,279)	(245,343)	1,301,105	1,137,479
Total other (income) expenses	130,413	(33,895)	1,602,760	1,634,117
Income (Loss) before income taxes	(380,293)	(346,053)	(2,129,443)	(2,204,792)
Income tax (benefit) expense
Net income (loss) from continuing operations	(380,293)	(346,053)	(2,129,443)	(2,204,792)
Net income (loss) from discontinued operations - non-controlling interest	(278)	(12,158)	955	(156,277)
Net income (loss) from discontinued operations	(86,314)	(13,711)	(96,507)	(233,172)
Net Income (Loss) from shareholders	$ (466,607)	$ (359,764)	$ (2,225,950)	$ (2,437,964)
Basic weighted average shares outstanding	16,372,179,486	8,480,503,383	16,372,179,486	8,109,652,138
Diluted weighted average shares outstanding	16,372,179,486	8,480,503,383	16,372,179,486	8,109,652,138
Basic - net loss from continuing operations per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Diluted - net loss from continuing operations per share	(0.00)	(0.00)	(0.00)	(0.00)
Basic - net loss from discontinued operations per share	(0.00)	(0.00)	(0.00)	(0.00)
Diluted - net loss from discontinued operations per share	(0.00)	(0.00)	(0.00)	(0.00)
Basic - net loss per share	(0.00)	(0.00)	(0.00)	(0.00)
Diluted - net loss per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)

Consolidated Statements of Cash Flow (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss) from continuing operations	$ (2,129,443)	$ (2,204,792)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization	65,981	61,644
Interest expense - amortization of debt discounts		140,114
Stock compensation expense	150,000	150,000
Change in fair value of derivative liability	1,301,105	1,137,479
Gain related to debt activities	(77)	(15,268)
Net changes in operating assets & liabilities:
Accounts receivable	4,889	11,707
Accounts payable, accrued liabilities, due to affiliates, and other long-term liabilities	503,926	720,325
Net cash used in operating activities from continuing operations	(103,619)	1,209
Net cash (used in ) and provided by operating activities from discontinued operations	(26,011)	(258,074)
Net cash used in operating activities	(129,630)	(256,865)
Cash flows from investing activities:
Purchases of intangible assets	(25,160)	(62,825)
Net cash used in investing activities from continuing operations	(25,160)	(62,825)
Net cash used in investing activities from discontinued operations
Net cash used in investing activities	(25,160)	(62,825)
Cash flows from financing activities:
Borrowings from related parties	119,000	1,060,000
Net cash provided by financing activities from continuing operations	119,000	396,395
Net cash provided by financing activities from discontinued operations-RP
Net cash provided by financing	119,000	396,395
Net increase in cash and cash equivalents	(35,790)	76,705
Cash and cash equivalents at beginning of period	125,207	57,713
Cash and cash equivalents at end of period	89,417	134,418
Supplemental disclosure of cash flow information
Interest
Income taxes
Supplemental disclosure of non-cash investing and financing Activities:
Shares issued for conversion from convertible note payable		204,649
Reclass of derivative liability to additional paid in capital		203,239
Related Party [Member]
Cash flows from financing activities:
Repayment to convertible notes payable		(396,667)
Nonrelated Party [Member]
Cash flows from financing activities:
Repayment to convertible notes payable		$ (266,938)

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 89,417	$ 125,207
Accounts receivable, net	1,960	14,848
Discontinued operations - current	81,307	199,619
Total current assets	172,684	339,674
Intangibles	404,761	445,582
Discontinued operations - long term	12,861	16,707
Total assets	590,306	801,963
Current liabilities:
Accounts payable and accrued liabilities	2,629,474	2,127,857
Convertible notes payable, net	4,162,778	4,162,778
Shares to be issued	468,042	318,042
Derivative liability	2,175,018	873,913
Discontinued operations - current	570,789	510,173
Total current liabilities	10,006,101	7,992,763
Total liabilities	10,006,101	7,992,763
Commitments and contingencies
Stockholders’ equity (deficit):
Preferred stock, par value $0.001, authorized 50,000,000 shares; 1 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively
Common stock, par value $0.000001, authorized 25,000,000,000 shares; 16,372,179,486 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	16,373	16,373
Additional paid-in capital	27,662,827	27,662,827
Accumulated deficit	(37,410,841)	(35,184,891)
Total Clubhouse Media stockholders’ equity (deficit)	(9,731,641)	(7,505,691)
Non-controlling interest	315,846	314,891
Total stockholders’ deficit	(9,415,795)	(7,190,800)
Total liabilities and stockholders’ equity (deficit)	$ 590,306	$ 801,963