EZJR, Inc.

CIK:0001402453|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Product sales	$ 12,143,242	$ 16,069,119
Cost of products sold	6,960,243	8,616,081
Gross profit	5,182,999	7,453,038
Operating expenses
Royalties	13,329	14,675
Selling expense	4,072,735	5,184,806
General and administrative expense	1,328,035	1,301,849
Total operating expenses	5,414,099	6,501,330
Income (loss) from operations	(231,100)	951,708
Other (expense) income
Interest income		70
Interest expense	(36,713)	(8,703)
Loss on abandonment of fixed assets	(384,455)	(7,260)
Impairment of trademark	(3,560,000)
Contract termination expense - related party	(3,397,500)
Total other expense	(7,378,666)	(8,499)
Income (loss) before benefit (provision) for income taxes	(7,609,766)	935,815
Benefit (provision) for income taxes	132,203	(11,036)
Net income (loss) attributable to Company	(7,477,563)	924,779
Preferred stock dividends	(720,000)	(720,000)
Net income (loss) to common stockholders	$ (8,197,563)	$ 204,779
Net basic income (loss) per share attributable to common Stockholders: basic and diluted	$ (1.25)	$ 0.05
Weighted average number of common shares outstanding: basic and diluted	6,533,440	4,150,059

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2018	Dec. 31, 2017
OPERATING ACTIVITIES
Net income (loss) attributable to Company	$ (7,477,563)	$ 924,779
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	77,464	129,945
Stock-based compensation	70,932	28,530
Loss on abandonment of fixed assets	384,455	7,260
Impairment of trademark	3,560,000
Contract termination expense	3,397,500
Changes in operating assets and liabilities:
Receivables	103,372	(120,194)
Related party receivables	(96,867)	(81,414)
Inventories	655,141	(288,300)
Prepaid maintenance fees		75,000
Other prepaid expenses	33,247	(18,512)
Deposits	50,520	(163,442)
Accounts payable and accrued liabilities	(176,182)	93,791
Income tax liability	(134,432)	6,781
Other asset		(25,000)
Net cash provided by operating activities	447,587	569,224
INVESTING ACTIVITIES
Purchase of fixed assets	(34,440)	(148,144)
Net cash used in investing activities	(34,440)	(148,144)
FINANCING ACTIVITIES
Issuance of notes payable	2,284,070	177,390
Repayment on notes payable	(2,059,481)	(43,805)
Payment of preferred dividend	(720,000)	(720,000)
Net cash used in financing activities	(495,411)	(586,415)
NET DECREASE IN CASH	(82,264)	(165,335)
CASH - BEGINNING OF PERIOD	190,233	355,568
CASH - END OF PERIOD	107,969	190,233
SUPPLEMENTAL DISCLOSURES:
Interest paid	36,713	5,539
Income taxes paid	3,502	4,254
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Shares returned in exchange for cancellation of investment	$ 25,000

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash	$ 107,969	$ 190,233
Receivables	62,398	165,770
Related party receivables	204,893	108,026
Inventories	1,680,612	2,335,753
Prepaid maintenance fees - current		75,000
Other prepaid expenses	31,676	64,923
Deposits	145,872	196,392
Total current assets	2,233,420	3,136,097
Property, Equipment and software, net	124,359	267,464
Prepaid maintenance fees - non-current		209,375
Other asset		25,000
Trademark	4,640,000	8,200,000
Total assets	6,997,779	11,837,936
Current liabilities
Accounts payable and accrued liabilities	646,034	822,216
Income tax liability		134,432
Notes payable	401,978	177,390
Total current liabilities	1,048,012	1,134,038
Total liabilities	1,048,012	1,134,038
Stockholders' equity
Callable $0.144 per share per year non-cumulative dividend liquidation preference of $2.00 per share, preferred stock, $0.001 par value, 10,000,000 shares authorized and 5,000,000 issued and outstanding as of December 31, 2018 and December 31, 2017, respectively	5,000	5,000
Common stock, $0.001 par value, 70,000,000 shares authorized, 8,584,135 and 4,150,059 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively	8,584	4,150
Additional paid-in capital	30,118,775	26,679,777
Accumulated deficit	(24,182,592)	(15,985,029)
Total stockholders' equity	5,949,767	10,703,898
Total liabilities and stockholders' equity	$ 6,997,779	$ 11,837,936