Energy & Water Development Corp

CIK:0001563298|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
General and Administrative Expenses
Professional fees	$ 191,439	$ 348,355	$ 523,517	$ 690,483
Officers’ salaries and payroll taxes	109,228	134,117	253,342	392,085
Marketing fees	18,937	0	30,177	23,832
Travel and entertainment	8,263	13,213	12,168	35,354
Other general and administrative expenses	164,781	314,303	847,493	719,030
Total general and administrative expenses	492,648	809,988	1,666,697	1,860,784
LOSS FROM OPERATIONS	(492,648)	(809,988)	(1,666,697)	(1,860,784)
OTHER INCOME (EXPENSE)
Change in fair value of derivative	52,761	(189,042)	(230,643)	(178,933)
Other income (expense)	146,863	4,753	128,137	7,076
Loss on settlement of liabilities	0	0	0	(196,159)
Interest income (expense), net	(547,650)	(71,755)	(930,972)	(165,848)
Total other income (expense)	(348,026)	(256,044)	(1,033,478)	(533,864)
LOSS BEFORE TAXES	(840,674)	(1,066,032)	(2,700,175)	(2,394,648)
TAXES	0	(443)	0	482
NET LOSS	(840,674)	(1,065,589)	(2,700,175)	(2,395,130)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustments	(119,994)	(28,295)	(143,766)	(14,645)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	(119,994)	(28,295)	(143,766)	(14,645)
COMPREHENSIVE LOSS	$ (960,668)	$ (1,093,884)	$ (2,843,941)	$ (2,409,775)
Weighted average number of common shares outstanding - Basic	290,395,963	218,557,629	281,659,364	204,852,652
Weighted average number of common shares outstanding - Diluted	290,395,963	218,557,629	281,659,364	204,852,652
Net loss per common share - Basic	$ (0.01)	$ (0.00)	$ (0.01)	$ (0.01)
Net loss per common share - Diluted	$ (0.01)	$ (0.00)	$ (0.01)	$ (0.01)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,700,175)	$ (2,395,130)
Reconciliation of net loss to net cash used in operating activities
Amortization of debt discount and deferred financing costs	263,021	151,404
Depreciation and amortization	44,335	57,873
Stock based compensation	10,000	0
Non-cash lease expense	112,017	52,369
Change in fair value of derivative liability and derivative expense	230,643	178,933
Excess of debt discounted and financing costs	527,624	0
Imputed interest on related party loans	0	3,305
Loss on settlement	0	196,159
Foreign currency (gain) loss	37,807	2,475
Inventory	(50,476)	(10,358)
Prepaid expenses and other current assets	(36,574)	(2,359)
Accounts payable, accrued expenses and deferred taxes	587,025	80,566
Operating lease liabilities, current and non-current	(112,016)	(52,369)
Due to officers	206,240	130,929
Bad debt expense	0	52,761
CASH USED IN OPERATING ACTIVITIES	(880,529)	(1,553,442)
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal(purchase) of property and equipment	46,321	(31,781)
NET CASH PROVIDED BY (USED IN ) INVESTING ACTIVITIES	46,321	(31,781)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible notes	381,550	153,000
Proceeds from sale of stock	575,001	679,700
Proceeds from subscriptions	35,000	866,600
Payments of finance lease liabilities	(50,615)	(22,012)
Proceeds from borrowings from related parties	2,793	0
CASH PROVIDED BY FINANCING ACTIVITIES	943,729	1,677,288
Effect of exchange rate changes on cash	(181,573)	(17,120)
Net change in cash	(72,052)	74,945
Cash, beginning of period	76,627	40,886
Cash, end of period	4,575	115,831
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	0	5,788
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common shares issued for interest and fees	11,533	8,390
Reclassification of common stock subscriptions to common stock	0
Common shares issued for conversion of loans payable	183,000	128,000
Derivative liability discount		81,530
Derivative settled upon conversion of debt	998,111	156,099
Addition of finance lease obligation	$ 0	$ 101,044

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 4,575	$ 76,627
Inventory	502,462	451,986
Prepaid expenses and other current assets	416,064	379,490
TOTAL CURRENT ASSETS	923,101	908,103
Property and equipment, net	138,707	229,363
Operating lease right-of-use assets	175,317	287,334
TOTAL ASSETS	1,237,125	1,424,800
CURRENT LIABILITIES:
Accounts payable and accrued expenses	1,553,960	978,468
Accounts payable - related party	16,900	16,900
Convertible loan payables, net of discount	353,316	152,459
Due to officers	491,507	285,267
Derivative liability	397,811	376,941
Current portion of operating lease liability	165,045	153,803
Current portion of financing lease liability	0	16,045
Amount due to related parties	2,793	0
TOTAL CURRENT LIABILITIES	2,981,332	1,979,883
Financing lease liability, net of current portion	0	34,570
Operating lease liability, net of current portion	10,273	133,531
TOTAL LIABILITIES	2,991,605	2,147,984
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ DEFICIT:
Common stock, par value $.001 per share; 1,000,000,000 shares authorized, 302,221,044 and 268,040,179 shares issued and outstanding in September 30, 2024 and December 31, 2023, respectively	302,220	268,040
Common stock subscriptions liability; 1,750,000 and 0 shares as of September 30, 2024 and December 31, 2023, respectively	35,000	0
Additional paid in capital	28,519,906	26,776,441
Accumulated deficit	(30,471,466)	(27,771,291)
Accumulated other comprehensive loss	(149,921)	(6,155)
TOTAL STOCKHOLDERS’ DEFICIT	(1,754,480)	(723,184)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	1,237,125	1,424,800
Series A Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT:
Preferred stock value	$ 9,781	$ 9,781