FISION Corp

CIK:0001487931|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
REVENUE	$ 155,049	$ 200,159	$ 495,923	$ 565,621
COST OF GOODS SOLD	29,836	22,458	98,686	71,691
GROSS MARGIN	125,213	177,701	397,237	493,930
OPERATING EXPENSES
Sales and marketing	2,761	65,187	12,277	71,624
Development and support	45,985	271,798	74,125	375,154
General and administrative	215,354	357,242	653,654	974,982
Amortization of intangible assets	54,216	2,447	171,449	9,786
TOTAL OPERATING EXPENSES	318,316	696,674	911,505	1,431,546
OPERATING LOSS	(193,103)	(518,973)	(514,268)	(937,616)
OTHER INCOME / (EXPENSES)
Interest expense	(51,868)	(37,446)	(137,355)	(226,064)
Amortization of debt discount	(24,161)	(18,928)	(78,640)	(589,364)
Gain (loss) on change in fair value of derivative liabilities	(186,470)	95,781	(111,706)	2,624,686
Gain on extinguishment of debt / gain (loss) on settlement of debt	0	0	0	1,446,207
SBA/PPP loan forgiveness	0	0	27,435	179,182
Bad debt expense on notes receivable	0	0	0	(12,065)
Other income (expense)	(106,457)	580,057	293,859	604,187
TOTAL OTHER INCOME (LOSS)	(368,956)	619,464	(6,407)	4,026,769
NET INCOME (LOSS)	$ (562,059)	$ 100,491	$ (520,675)	$ 3,089,153
Net income (loss) per common share:
Basic	$ (0.00)	$ 0.00	$ (0.00)	$ 0.01
Diluted	$ (0.00)	$ 0.00	$ (0.00)	$ 0.01
Shares used in per share calculations:
Basic	461,805,219	446,688,184	460,568,149	437,938,076
Diluted	461,805,219	466,131,778	460,568,149	457,381,670

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Net Income (Loss) for the Period	$ (520,675)	$ 3,089,153
Net cash provided by (used) in operating activities:
Common stock issued for services	27,825	162,500
Depreciation and amortization	171,449	9,959
Loss on change in fair value of derivative liabilities	111,706	(2,624,687)
Gain on extinguishment of debt/gain on settlement of debt	(27,435)	(1,446,207)
Loss (gain) on change in fair value of Score contingent liability	0	(179,183)
Bad debt expense	0	(567,993)
Amortization of debt discount	78,640	766,805
Change in interest receivable		(24,129)
Changes in Operating Assets and Liabilities
(Increase) decrease in: Accounts and interest receivables	49,795	(20,954)
Increase (decrease) in: Accounts payable, accrued expenses and other current liabilities	344,219	42,750
Net Cash Provided by (Used) in Operating Activities	235,524	(791,986)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of construction in-process	(564,033)	0
Collection on note receivable	30,669	567,993
Net Cash Provided by (Used in) Investing Activities	(533,364)	567,993
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from note payable	0	55,000
Proceeds from related party	60,000
Repayments of notes payable	(108,500)	0
Repayments for related party	0	(9,209)
Proceeds from exercise of warrants for cash	0	216,109
Net Cash Provided by (Used In) Financing Activities	(48,500)	261,900
Net (Decrease) Increase in Cash	(346,340)	37,907
Cash at Beginning of Period	369,986	7,504
Cash at End of Period	23,646	45,411
Non-cash investing and financing activities:
Conversion of debt and accrued interest to common stock	$ 0	$ 1,652,961

CONSOLIDATED BALANCE SHEET - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 23,646	$ 369,986
Accounts receivable, net	28,165	77,960
Notes receivable, net	0	30,669
Total Current Assets	51,811	478,615
Property and equipment, net of accumulated depreciation	690,798	126,765
Other Assets:
Goodwill	173,584	182,384
Intangible assets, net of accumulated amortization	401,995	564,644
Deposits	206	206
Total Assets	1,318,394	1,352,614
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	1,440,675	1,103,331
Derivative liability	459,609	347,903
Contingent liability - Scoreinc.com acquisition	358,671	0
SBA/PPP loan	0	27,435
Notes payable and accrued interest, net of debt discount - related party	616,925	76,250
Notes payable, net of debt discount	1,008,800	894,300
Total Current Liabilities	3,884,680	2,449,219
Long-Term Liabilities
Contingent liability - Scoreinc.com acquisition	0	358,671
Convertible Notes Payable, net of debt discount, related party	0	442,326
Convertible Notes Payable, net of debt discount	426,030	601,863
Total Long-Term Liabilities	426,030	1,402,861
Total Liabilities	4,310,710	3,852,080
Stockholders' Deficit:
Preferred Stock, $0.0001 Par value, 20,000,000 shares authorized, no shares issued and outstanding	0	0
Common Stock, $0.0001 Par value, 500,000,000 shares authorized 462,878,589 and 459,128,589 shares issued and outstanding, respectively	46,288	45,913
Additional paid in capital	28,956,087	28,928,637
Accumulated deficit	(31,994,691)	(31,474,016)
Total Stockholder's Deficit	(2,992,316)	(2,499,466)
Total Liabilities and Stockholder's Deficit	$ 1,318,394	$ 1,352,614