$TLSS

PETROTERRA CORP.

CIK:0001463208|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Defined Benefit Plan Disclosure [Line Items]
REVENUES
OPERATING EXPENSES:
Compensation and related benefits	144,999	160,340	289,998	320,680
Legal and professional fees	81,919	226,301	169,003	397,261
General and administrative expenses	583	2,734	1,957	3,705
Total Operating Expenses	227,501	389,375	460,958	721,646
LOSS FROM OPERATIONS	(227,501)	(389,375)	(460,958)	(721,646)
OTHER INCOME (EXPENSES):
Gain on debt extinguishment		1,481,742		1,481,742
Total Other Income (Expenses), net	(3,733)	1,428,568	(5,418)	1,356,878
(LOSS) INCOME BEFORE INCOME TAXES	(231,234)	1,039,193	(466,376)	635,232
Provision for income taxes
(LOSS) INCOME FROM CONTINUING OPERATIONS	(231,234)	1,039,193	(466,376)	635,232
DISCONTINUED OPERATIONS:
Loss from discontinued operations, net of tax	(89,741)	(92,251)	(179,483)	(186,560)
LOSS FROM DISCONTINUED OPERATIONS	(89,741)	(92,251)	(179,483)	(186,560)
NET (LOSS) INCOME	(320,975)	946,942	(645,859)	448,672
Deemed contribution on exchange of equity instruments		800,380		800,380
Accrued dividends	(278,599)	(140,696)	(554,137)	(217,686)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (599,574)	$ 1,606,626	$ (1,199,996)	$ 1,031,366
NET (LOSS) INCOME PER COMMON SHARE - BASIC AND DILUTED
Net (loss) income per share from continuing operations - basic	$ (0.00)	$ 0.00	$ (0.00)	$ 0.00
Net (loss) income per share from continuing operations - diluted	(0.00)	0.00	(0.00)	0.00
Net loss per share from discontinued operations - basic	(0.00)	(0.00)	(0.00)	(0.00)
Net loss per share from discontinued operations - diluted	(0.00)	(0.00)	(0.00)	(0.00)
Net (loss) income per share - basic	(0.00)	0.00	(0.00)	0.00
Net (loss) income per share - diluted	$ (0.00)	$ 0.00	$ (0.00)	$ 0.00
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic	5,889,437,474	5,889,437,474	5,889,437,474	5,889,437,474
Diluted	5,889,437,474	5,889,437,474	5,889,437,474	5,889,437,474
Nonrelated Party [Member]
OTHER INCOME (EXPENSES):
Interest expense	$ (3,733)	$ (9,198)	$ (5,418)	$ (18,301)
Related Party [Member]
OTHER INCOME (EXPENSES):
Interest expense		$ (43,976)		$ (106,563)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (320,975)	$ (324,884)	$ 946,942	$ (498,270)	$ (645,859)	$ 448,672
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Gain on debt extinguishment			(1,481,742)			(1,481,742)
Change in operating assets and liabilities:
Prepaid expenses and other current assets						(240)
Accounts payable and accrued expenses					194,108	291,382
Accrued expenses - related parties						106,562
Deferred compensation and related benefits					289,998	245,680
NET CASH USED IN OPERATING ACTIVITIES					(161,753)	(389,686)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable					175,000	275,000
NET CASH PROVIDED BY FINANCING ACTIVITIES					175,000	275,000
NET (DECREASE) INCREASE IN CASH					13,247	(114,686)
CASH, beginning of period		$ 15,835		$ 177,257	15,835	177,257	$ 177,257
CASH, end of period	$ 29,082		$ 62,571		29,082	62,571	$ 15,835
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Conversion of Series E and Series G preferred stock and accrued dividends to Series J preferred stock						1,116,208
Conversion of notes payable and notes payable - related parties and accrued interest to Series J preferred stock						2,546,519
Conversion of accounts payable and accrued expenses to Series J preferred stock						550,395
Increase in Series J redemption premium applied against additional paid-in capital						856,880
Accrual of preferred stock dividends					$ 554,137	$ 217,686

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash	$ 29,082	$ 15,835
Prepaid expenses and other current assets	1,500	1,500
Total Current Assets	30,582	17,335
TOTAL ASSETS	30,582	17,335
CURRENT LIABILITIES:
Notes payable	175,000
Accounts payable	344,847	335,640
Accrued expenses	1,226,130	666,575
Deferred compensation and related benefits	289,998
Liabilities of discontinued operations	7,128,698	6,949,215
Total Current Liabilities	9,164,673	7,951,430
Total Liabilities	9,164,673	7,951,430
Series J convertible preferred stock, par value $0.001 per share; 1,000,000 shares designated; 110,424 shares issued and outstanding at June 30, 2026 and December 31, 2025 ($12,146,640 redemption value as of June 30, 2026)	12,146,640	12,146,640
Commitments and Contingencies (See Note 6)
SHAREHOLDERS’ DEFICIT:
Common stock, par value $0.001 per share; 50,000,000,000 shares authorized; 5,889,437,474 shares issued and outstanding at June 30, 2026 and December 31, 2025	5,889,437	5,889,437
Additional paid-in capital	121,194,905	121,194,905
Accumulated deficit	(148,365,105)	(147,165,109)
Total Shareholders’ Deficit	(21,280,731)	(20,080,735)
Total Liabilities and Shareholders’ Deficit	30,582	17,335
Series B Preferred Stock [Member]
SHAREHOLDERS’ DEFICIT:
Preferred stock
Series D Preferred Stock [Member]
SHAREHOLDERS’ DEFICIT:
Preferred stock
Series E Preferred Stock [Member]
SHAREHOLDERS’ DEFICIT:
Preferred stock
Series G Preferred Stock [Member]
SHAREHOLDERS’ DEFICIT:
Preferred stock
Series H Preferred Stock [Member]
SHAREHOLDERS’ DEFICIT:
Preferred stock	$ 32	$ 32