Carbon Sciences, Inc.

CIK:0001407878|SEC Filings

Condensed 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]
Revenues		$ 8,008		$ 12,980
Operating expenses:
General and administrative	568,490	1,075,067	1,405,086	2,012,927
Depreciation and amortization	500	500	1,000	1,000
Total operating expenses	568,990	1,075,567	1,406,086	2,013,927
Loss from operations	(568,990)	(1,067,559)	(1,406,086)	(2,000,947)
Other income (expense):
Interest expense	(668,143)	(53,126)	(2,117,243)	(129,007)
Gain (loss) on change in derivative liabilities	3,700,994	(147,307)	(768,309)	1,055,614
Total other income (expense)	3,032,851	(200,433)	(2,885,552)	926,607
Income (loss) before income taxes	2,463,861	(1,267,992)	(4,291,638)	(1,074,340)
Provision for income taxes
Net income (loss)	$ 2,463,861	$ (1,267,992)	$ (4,291,638)	$ (1,074,340)
Weighted average number of common shares outstanding:
Basic	733,766,705	733,766,705	733,766,705	683,131,202
Diluted	8,360,351,357	733,766,705	733,766,705	683,131,202
Net income per common share:
Basic	$ 0.0034	$ (0.0017)	$ (0.0058)	$ (0.0016)
Diluted	$ 0.0003	$ (0.0017)	$ (0.0058)	$ (0.0016)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 2,463,861	$ (6,755,499)	$ (1,267,992)	$ 193,652	$ (4,291,638)	$ (1,074,340)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	500		500		1,000	1,000
Amortization of debt discount to interest expense					695,919	121,958
(Gain) loss on change in derivative liabilities	(3,700,994)		147,307		768,309	(1,055,614)
Financing fees					1,352,462
Stock option compensation					717,098	1,486,604
Changes in assets and liabilities:
Accounts payable					(2,184)	9,013
Accounts payable – related party						(10,000)
Accrued expenses					44	(1,541)
Accrued interest, notes payable					67,578	5,065
Net cash used in operating activities					(691,412)	(517,855)
Cash flows from investing activities
Cash flows from financing activities:
Proceeds from convertible notes payable					685,000
Proceeds from the issuance of Series E preferred stock						362,000
Proceeds from notes payable						135,000
Net cash provided by financing activities					685,000	497,000
Net decrease in cash					(6,412)	(20,855)
Cash, beginning of period		$ 44,104		$ 31,113	44,104	31,113	$ 31,113
Cash, end of period	$ 37,692		$ 10,258		37,692	10,258	$ 44,104
Supplemental Disclosure:
Cash paid for income taxes
Cash paid for interest
Non-cash financing and investing activities:
Common shares issued in conversion of debt						40,971
Settlement of derivative liabilities						30,758
Debt discount for derivative liabilities					$ 685,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 37,692	$ 44,104
Total current assets	37,692	44,104
Other assets:
Deposits	500	500
Intangible assets, net	3,000	4,000
Total assets	41,192	48,604
Current liabilities:
Accounts payable	122,158	124,342
Accrued expenses and other current liabilities	981	937
Accrued interest, notes payable	146,232	78,654
Derivative liabilities	4,971,883	2,166,112
Convertible note payable, in default	29,500	29,500
Total current liabilities	6,124,996	2,657,539
Long-term liabilities – convertible notes payable, net of discount of $301,205 and $400,876, at June 30, 2024 and December 31, 2023, respectively	698,795	599,124
Total liabilities	6,823,791	3,256,663
Stockholders’ deficit:
Common stock, $0.001 par value; 2,000,000,000 shares authorized, 733,766,705 shares issued and outstanding at June 30, 2024 and December 31, 2023	733,767	733,767
Additional paid-in capital	45,738,916	45,021,818
Accumulated deficit	(59,179,382)	(54,887,744)
Total stockholders’ deficit	(12,706,699)	(9,132,159)
Total liabilities, mezzanine and stockholders’ deficit	41,192	48,604
Series B Preferred Stock [Member]
Mezzanine:
Temporary equity, value	1,424,100	1,424,100
Series E Preferred Stock [Member]
Mezzanine:
Temporary equity, value	4,500,000	4,500,000
Related Party [Member]
Current liabilities:
Convertible notes payable	58,600	58,600
Nonrelated Party [Member]
Current liabilities:
Convertible notes payable	$ 795,642	$ 199,394