MAZZAL HOLDING CORP.

CIK:0001568875|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 997,518	$ 556,142	$ 1,600,910	$ 1,298,696
Cost of revenue	914,197	259,158	1,481,169	665,154
Gross profit	83,321	296,984	119,741	633,542
Selling, general and administrative expenses	2,766,166	668,000	5,699,631	2,444,393
Loss on sale of assets	0	0	0	41,608
Total operating expenses	2,766,166	668,000	5,699,631	2,486,001
Loss from operations	(2,682,845)	(371,016)	(5,579,890)	(1,852,459)
Other income(expense)	1,732	7,730	4,967	(35,758)
Interest expense	(38,929)	(3,749)	(97,012)	(179,899)
Total other expense	(37,197)	3,981	(92,045)	(215,657)
Net loss	$ (2,720,042)	$ (367,035)	$ (5,671,935)	$ (2,068,116)
Net loss per common share - basic and diluted (in Shares)	(0.01)	0.00	(0.02)	(0.01)
Weighted average number of shares outstanding - basic and diluted (in Shares)	273,064,090	229,024,960	262,905,180	228,991,993

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended				9 Months Ended		33 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Jul. 14, 2022
Cash flows from operating activities:
Net loss	$ (2,720,042)	$ (2,093,364)	$ (367,035)	$ (1,092,567)	$ (5,671,935)	$ (2,068,116)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization					21,253	27,478
Loss on sale of fixed assets	0		0		0	41,608
Non-cash interest expense					75,583	173,652
Stock based compensation					316,599	0
Common stock issued for services					3,233,000	1,183,611
Options exchanged for common stock					817,678	0
Bad debt expense					0	53,348
Gain on extinguishment of accounts payable					(70,421)
Changes in operating assets and liabilities:
Accounts receivable					(88,778)	1,686
Prepaid expenses and employee advances					(71,864)	(10,576)
Inventory					(51,840)	(385,551)
Accounts payable and accrued expenses					119,660	117,304
Customer deposits					374,346	11,553
Net cash used in operating activities					(996,719)	(854,003)
Cash flows from investing activities:
Purchase of fixed assets					0	(63,564)
Proceeds from sale of fixed assets					0	50,218
Net cash used in investing activities					0	(13,346)
Cash flows from financing activities:
Proceeds from common stock					203,500	0
Repayment of advances from related parties					(2,000)	(187)
Proceeds of advances from related parties					50,000	322,411	$ 175,000
Repayment of loan from related parties					(28,200)	(10,000)
Proceeds of advances from third parties					126,177	0
Proceeds of loan from related parties					869,127	445,000
Net cash provided by financing activities					1,218,604	757,224
Net change in cash					221,885	(110,125)
Cash, beginning of period		$ 593		$ 116,481	593	116,481	$ 222,478
Cash, end of period	$ 222,478		$ 6,356		222,478	6,356
Non-cash investing and financing activities:
Common Stock and Warrants issued for Conversion of Debt and Advances					0	75,000
Related party advance paid directly to vendor					0	125,000
Transfer of building to related party in exchange for payment of loan					$ 0	$ 225,000

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash	$ 222,478	$ 593
Accounts receivable, net	88,778	0
Employee advances	42,936	0
Prepaid expenses	90,385	61,457
Inventory	351,268	299,428
Total current assets	795,845	361,478
Building, furniture and equipment, net	7,099	28,352
TOTAL ASSETS	802,944	389,830
CURRENT LIABILITIES
Accounts payable	460,907	403,307
Accrued expenses	333,195	341,556
Customer deposits	404,988	30,642
Advances from related parties	270,788	222,788
Short term debt	126,177	0
Loan from related parties	2,206,814	1,290,304
Total current liabilities	3,802,869	2,288,597
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS' DEFICIT
Preferred stock, $0.0001 par value, 100,000,000 authorized shares; no shares issued and outstanding	0	0
Common stock, $0.0001 par value; 500,000,000 shares authorized; 288,124,960 and 236,724,960 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	28,812	23,672
Additional paid-in-capital	18,786,174	14,220,537
Accumulated deficit	(21,814,911)	(16,142,976)
Total stockholders' deficit	(2,999,925)	(1,898,767)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 802,944	$ 389,830