GLOBAL EQUITY INTERNATIONAL INC

CIK:0001533106|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 19,382	$ 23,549	$ 65,785	$ 86,582
General and administrative expenses	24,240	60,946	79,932	153,255
Compensation	63,451	93,834	206,989	347,538
Professional services	36,801	8,071	125,389	77,999
Depreciation	726	656	1,976	1,930
Amortization of intangibles	5,703	5,704	17,110	17,110
Total operating expenses	130,921	169,211	431,396	597,832
Loss from continuing operations	(111,539)	(145,662)	(365,611)	(511,250)
Other income (expenses):
Interest expense	(14,773)	(9,698)	(44,156)	(49,300)
Change in fair value of acquisition payable	(902)	(4,188)	(3,476)	(12,800)
Amortization of debt discount		(24,663)		(126,312)
(Loss) / gain on available for sale securities, net	(116,708)	466,832	379,300	(525,185)
Gain on extinguishment of debt and other liabilities			40,471
Loss on disposal of fixed asset			(260)
Other income			12,612
Exchange rate gain / (loss)	13,953	(7,325)	(1,357)	(8,383)
Total other income (expenses)	(118,430)	420,958	383,134	(721,980)
Net (loss) / income from continuing operations	(229,969)	275,296	17,523	(1,233,230)
Discontinued operations (Note 6)
Net loss from operations of discontinued subsidiary (including loss due to fixed assets write off of $164 during the nine months ended September 30, 2019)		(132)		(35,005)
Net (loss) / income	$ (229,969)	$ 275,164	$ 17,523	$ (1,268,235)
Net (loss) / income per common share from continuing operations - basic	$ (0.00)	$ 0.00	$ 0.00	$ (0.00)
Net (loss) / income per common share from continuing operations - diluted	(0.00)	0.00	0.00	(0.00)
Net loss per common share from discontinued operations - basic		(0.00)		(0.00)
Net loss per common share from discontinued operations - diluted		$ (0.00)		$ (0.00)
Weighted average number of common shares outstanding - basic	590,989,409	590,989,409	590,989,409	567,176,296
Weighted average number of common shares outstanding - diluted	590,989,409	1,393,641,384	1,882,911,897	567,176,296
Comprehensive (loss) / income:
Net (loss) / income	$ (229,969)	$ 275,164	$ 17,523	$ (1,268,235)
(Loss) / gain on foreign currency translation	(22,890)	16,593	11,996	19,395
Comprehensive (loss) / income	$ (252,859)	$ 291,757	$ 29,519	$ (1,248,840)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net (loss) / income	$ (229,969)	$ 275,164	$ 17,523	$ (1,268,235)
Adjustments to reconcile net income / (loss) from operations to net cash used in operating activities:
Depreciation			1,976	2,007
Amortization of intangibles	5,703	5,704	17,110	17,110	$ 22,813	$ 9,505
Stock compensation			29,000
Amortization of debt discount		24,663		126,312
(Gain) / loss on available for sale securities, net	116,708	(466,832)	(379,300)	525,185
Gain on extinguishment of debt and other liabilities			(40,471)
Change in fair value of acquisition payable			3,476
Loss due to fixed assets write off			260	164
Changes in operating assets and liabilities:
Accounts receivable			2,158	6,401
Prepaids			4,083	(1,021)
Other current assets				4,732
Assets of discontinued operations				(1,972)
Accounts payable and accrued liabilities			41,125	23,378
Accounts payable and accrued liabilities - related parties			13,359	247,382
Accrued interest			6,184	42,627
Net cash used in operating activities:			(283,517)	(275,930)
Cash Flows used in investing activities:
Purchase of office furniture and equipment			(1,639)	(1,282)
Net cash used in investing activities			(1,639)	(1,282)
Cash flows from financing activities:
Proceeds from loans - related parties			3,500	96,678
Repayment of loans - related parties			(3,500)	(30,000)
Net cash provided by financing activities				66,678
Net decrease in cash			(285,156)	(210,534)
Effect of Exchange Rates on Cash			5,847	19,430
Cash at Beginning of Period			326,245	193,807	193,807
Cash at End of Period	$ 46,936	$ 2,703	46,936	2,703	$ 326,245	$ 193,807
Supplemental disclosure of cash flow information:
Cash paid for interest				9,000
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:
Notes payable and accrued interest converted into common stock				$ 1,309,100

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash	$ 46,936	$ 326,245
Accounts receivable	5,264	7,422
Marketable securities at fair value	583,539	204,239
Prepaids	5,401	9,484
Total current assets	641,140	547,390
Non-Current Assets
Intangibles, net	292,766	309,876
Goodwill	142,924	142,924
Right-of-use leased asset	64,020	75,786
Fixed assets, net	3,062	3,672
Total non-current assets	502,772	532,258
Total assets	1,143,912	1,079,648
Current Liabilities
Accounts payable and accrued liabilities	130,234	129,579
Accounts payable and accrued liabilities - related parties	471,877	458,518
Short term payable for acquisition	167,915	171,650
Current portion of operating lease liability	13,019	13,374
Accrued interest	100,955	94,771
Notes payable	260,584	260,584
Total current liabilities	1,144,584	1,128,476
Non-Current Liabilities
Long term payable for acquisition	65,508	64,460
Fixed price convertible notes payable, related party	982,140	982,140
Long term operating lease liability	51,001	62,412
Total non-current liabilities	1,098,649	1,109,012
Total liabilities	2,243,233	2,237,488
Commitments and contingencies (Note 14)
Stockholders' Deficit
Common stock: 950,000,000 shares authorized; $0.001 par value: 590,989,409 and 590,989,409 shares issued and outstanding, respectively.	590,989	590,989
Additional paid in capital	11,460,607	11,431,707
Accumulated deficit	(13,205,665)	(13,223,188)
Accumulated other comprehensive income / (loss)	6,448	(5,548)
Total stockholders' deficit	(1,099,321)	(1,157,840)
Total liabilities and stockholders' deficit	1,143,912	1,079,648
Convertible Series B Preferred Stock [Member]
Stockholders' Deficit
Preferred stock, value	45,000	45,000
Convertible Series C Preferred Stock [Member]
Stockholders' Deficit
Preferred stock, value	$ 3,300	$ 3,200