Pharmagreen Biotech Inc.

CIK:0001435181|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Revenue	$ 597	$ 0	$ 1,560	$ 0
Cost of sales	389	0	1,374	0
Gross profit	208	0	186	0
Expenses
Advertising and promotion	16,576	0	29,232	0
Consulting fees (Note 9 and 14)	51,472	198,081	275,505	761,972
Foreign exchange gain (loss)	3,540	12,310	(24)	9,229
General and administrative	(3,264)	16,345	28,918	64,462
Professional fees	12,010	10,186	44,369	53,760
Salaries and wages	1,859	4,296	5,513	14,315
Total expenses	82,193	241,218	383,513	903,738
Net loss before other income (expenses)	(81,985)	(241,218)	(383,327)	(903,738)
Accretion of discount on convertible notes (Note 7)	(11,904)	(6,156)	(65,280)	(10,848)
Interest and finance costs (Note 6 and 7)	(8,220)	(10,757)	(24,660)	(30,919)
Gain (loss) on change in fair value of derivative liabilities (Note 8)	(66,738)	510,066	77,064	180,423
Gain on settlement of convertible note	5,916	0	5,916	0
Total other income (expense)	(80,946)	493,153	(6,960)	138,656
Net income (loss)	(162,931)	251,935	(390,287)	(765,082)
Less: net loss attributable to non-controlling interest	26		26
Net income (loss) attributable to Pharmagreen Biotech Inc.	(162,905)	251,935	(390,261)	(765,082)
Foreign currency translation gain (loss)	(30,880)	40,885	(45,419)	20,952
Comprehensive income (loss) attributable to Pharmagreen Biotech Inc.	$ (193,785)	$ 292,820	$ (435,680)	$ (744,130)
Basic and diluted (loss) earnings per share attributable to Pharmagreen Biotech Inc. stockholders	$ (0.00)	$ 0.00	$ (0.00)	$ (0.00)
Basic	445,095,035	406,566,324	452,930,932	395,041,232
Diluted	445,095,035	613,471,911	452,930,932	395,041,232

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES
Net loss	$ (390,287)	$ (765,082)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discount on convertible notes	65,280	10,848
Gain on change in fair value of derivative liabilities	(77,064)	(180,423)
Common stock issued or issuable for services	76,370	312,092
Financing fees	540	0
Gain on settlement of convertible note	(5,916)	0
Changes in non-cash operating assets and liabilities:
Amounts receivable	(223)	(26)
Prepaid expenses and deposits	75,427	180,899
Inventory	(9,247)	0
Accounts payable and accrued liabilities	112,514	71,850
Due to related parties	106,354	35,533
Net cash used in operating activities	(46,252)	(334,309)
FINANCING ACTIVITIES
Proceeds from issuance of convertible note	50,000	30,000
Proceeds from issuance of units	0	75,000
Proceeds from issuance of shares	0	112,000
Proceeds from loans from related party	33,962	111,554
Repayment of loans from related parties		(14,846)
Net cash provided by financing activities	83,962	313,708
Effect of foreign exchange rate changes on cash	(40,411)	19,563
Change in cash	(2,701)	(1,038)
Cash, beginning of period	8,016	25,300
Cash, end of period	$ 5,315	$ 24,262
Common shares issued for settlement of convertible notes and accrued interest	$ 30,950	$ 0
Derivative liability upon issuance of convertible notes	$ 0	$ 15,011
Supplemental disclosures:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Current assets
Cash	$ 5,315	$ 8,016
Amounts receivable	606	383
Inventory (Note 3)	9,247	0
Prepaid expenses and deposits (Note 14(d))	36,295	200,572
Total current assets	51,463	208,971
Promissory note receivable (Note 4)	88,850	0
Total assets	140,313	208,971
Current liabilities
Accounts payable and accrued liabilities (Notes 5 and 9)	837,390	724,876
Advances from Alliance Growers Corp. (Note 14(a))	56,604	54,847
Loans payable (Note 6)	129,266	99,077
Convertible notes - current portion, net of unamortized discount of $nil and $15,780, respectively (Note 7)	150,605	120,038
Derivative liabilities (Notes 7 and 8)	215,649	271,394
Due to related parties (Note 9)	782,231	641,915
Total current liabilities	2,171,745	1,912,147
Convertible notes, net of unamortized discount of $nil and $nil, respectively (Note 7)	27,068	0
Loans payable (Note 6), non-current	0	29,252
Loans payable to related parties (Note 9)	92,535	90,221
Total liabilities	2,291,348	2,031,620
Stockholders' deficit
Preferred stock Authorized: 1,000,000 shares, $0.001 par value; 10,000 shares issued and outstanding (Note 11)	10	10
Common stock Authorized: 2,000,000,000 shares, $0.001 par value; 463,960,969 and 442,260,969 shares issued and outstanding, respectively (Note 10)	463,961	442,261
Common stock issuable		1,130
Additional paid-in capital (Note 10)	10,348,527	10,261,777
Accumulated other comprehensive income	48,334	93,753
Accumulated deficit	(12,965,156)	(12,574,895)
Total Pharmagreen Biotech Inc. stockholders' deficit	(2,104,324)	(1,775,964)
Non-controlling interest	(46,711)	(46,685)
Total stockholders' deficit	(2,151,035)	(1,822,649)
Total liabilities and stockholders' deficit	$ 140,313	$ 208,971