Unique Underwriters, Inc.

CIK:0001514113|SEC Filings

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
Statements of Operations - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
NET REVENUES:
Revenues, net	$ 63,585	$ 33,349	$ 166,685	$ 132,257
TOTAL NET REVENUES	63,585	33,349	166,685	132,257
COST OF GOODS SOLD:
Cost of goods sold	47,961	12,340	125,816	64,054
TOTAL COST OF GOODS SOLD	47,961	12,340	125,816	64,054
GROSS PROFIT	15,624	21,009	40,869	68,203
OPERATING EXPENSES:
General and administrative expenses	603,474	234,463	1,557,419	408,503
Depreciation and amortization	15,622	5,675	42,189	13,350
Payroll and related expenses	206,537	144,107	6,263,105	424,292
TOTAL OPERATING EXPENSES	825,633	384,245	7,862,713	846,145
LOSS FROM OPERATIONS	(810,009)	(363,236)	(7,821,844)	(777,942)
OTHER INCOME (EXPENSE):
Interest expense, net	(211,957)	(169,264)	(631,264)	(600,359)
Change in derivative liabilities	3,847,256	(818,267)	1,548,691	2,768,315
Other expense		(1,852)	(54)	(1,425)
TOTAL OTHER INCOME (EXPENSE)	3,635,299	(989,383)	917,373	2,166,531
NET INCOME (LOSS)	2,825,290	(1,352,619)	(6,904,471)	1,388,589
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST	65	(1,141)	(1,185)	(1,141)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 2,825,225	$ (1,351,478)	$ (6,903,286)	$ 1,389,730
NET INCOME (LOSS) PER COMMON SHARE:
Basic	$ 0.03	$ (0.02)	$ (0.08)	$ 0.02
Diluted	$ 0.00	$ (0.02)	$ (0.08)	$ 0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	97,613,068	68,034,353	86,435,941	66,727,567
Diluted	517,228,519	68,034,353	86,435,941	273,589,102

Statements of Cash Flows - USD ($)	9 Months Ended
Statements of Cash Flows - USD ($)	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) before non-controlling interest	$ (6,904,471)	$ 1,388,589
Adjustment to reconcile change in net (loss) income to net cash and cash equivalents used in operating activities:
Depreciation expense	41,235	11,547
Loss on sale of equipment	54	1,425
Amortization of intangibles	954	1,803
Loss on settlement of accounts payable - related party		2,000
Amortization of debt discount	394,390	512,274
Change in derivative liabilities	(1,548,691)	(2,768,315)
Default interest capitalized into convertible note payable	47,875
Convertible note issued for services rendered		70,000
Stock-based compensation	7,068,344	327,529
Amortization of right-of-use assets - operating lease	21,606
Changes in operating assets and liabilities
Accounts receivable	(7,676)	1,009
Inventory	(18,765)	10,252
Prepaid expenses and other current assets	(386)	(200)
Accounts payable and accrued expenses	63,935	67,855
Lease Liability	(21,249)
Accrued interest	179,027	33,622
Payroll and related liabilities	(8,107)	(6,726)
Payroll and related liabilities - related parties	63,372	90,258
NET CASH USED IN OPERATING ACTIVITIES	(628,553)	(256,578)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(135,298)	(57,281)
Proceeds from sale of equipment	3,590	11,390
NET CASH USED IN INVESTING ACTIVITIES	(131,708)	(45,891)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible notes payable	316,874	118,000
Proceeds of loans payable - related parties	16,400
Net proceeds (repayments) of notes payable	40,355	(597)
Net repayments towards advances from line of credit	(109)	(157)
Proceeds from the sale of preferred stock	28,000	100,000
Proceeds from sale of common stock	620,500	93,100
NET CASH PROVIDED BY FINANCING ACTIVITIES	1,022,020	310,346
Net increase in cash	261,759	7,877
Cash, beginning of year	1,463	30,185
Cash, end of period	263,222	38,062
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	5,517
Cash paid for taxes
NON-CASH ACTIVITIES:
Initial recognition of right-of-use asset and lease liability	57,990
Debt discounts on convertible notes payable	365,374	492,112
Resolution of derivative liability through APIC	379,570
Conversion of debt and accrued interest into common stock	13,904
Cashless warrant exercised	289
Common stock issued for settlement of accounts payable	10,000
Issuance of preferred stock for settlement of preferred stock liability	125,000
Financing for purchase of vehicles		46,261
Common stock issued for settlement of accounts payable - related party		38,000
Common stock issued for purchase of equipment		5,000
Increase in principal of convertible notes due to default provisions		$ 53,362

Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash	$ 263,222	$ 1,463
Accounts receivable, net	11,978	4,302
Inventory, net	20,314	1,549
Prepaid expenses and other current assets	10,900	10,514
Total Current Assets	306,414	17,828
Property and equipment, net	314,638	224,219
Right-of-use asset - operating lease	36,384
Security deposits	1,400	1,400
Intangible assets, net	16,024	16,978
Certificate of deposit	5,300	5,300
TOTAL ASSETS	680,160	265,725
CURRENT LIABILITIES
Accounts payable and accrued expenses	444,504	390,569
Accrued interest	357,548	180,684
Convertible notes, net	1,077,066	755,043
Notes payable	153,426	102,188
Loans payable - related parties	433,418	417,018
Right-of-use liabilities - operating lease	30,318
Line of credit	4,886	4,995
Derivative liabilities	10,681,415	12,244,301
Payroll liabilities - related parties	345,915	282,543
Payroll liabilities	44,053	52,160
Preferred stock liability		125,000
Total Current Liabilities	13,572,549	14,554,501
Long term portion of convertible loans, net	230,000	170,000
Long term portion of notes payable	72,603	83,486
Long term Right-of-use liabilities - operating lease	6,423
TOTAL LIABILITIES	13,881,575	14,807,987
STOCKHOLDERS' DEFICIT
Undesignated Preferred stock, $0.001 par value, 19,999,800 and 19,999,900 shares authorized; no shares issued and outstanding, as of September 30, and December 31, 2018, respectively
Preferred Series A stock, $0.001 par value, 200 and 100 shares authorized, respectively; 151 and 100 shares issued and outstanding, respectively	1	1
Preferred Series B stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding, respectively
Common stock, $0.001 par value, 400,000,000 shares authorized; 101,028,648 and 74,116,845 shares issued and outstanding, respectively	101,029	74,117
Additional paid in capital	10,785,656	2,567,250
Accumulated deficit	(24,250,362)	(17,347,076)
Total Grand Havana stockholders' deficit	(13,363,676)	(14,705,708)
Non-controlling interest	162,261	163,446
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(13,201,415)	(14,542,262)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)	$ 680,160	$ 265,725