BRISTA CORP.

CIK:0001582341|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Sales
Product revenue	$ 202,048	$ 53,375	$ 203,299	$ 204,280
Product service revenue	11,622	3,641	11,910	15,218
Licensing revenue	441	441	1,308	8,212
Total sales	214,111	57,457	216,517	227,710
Cost of goods sold
Product costs	58,620	20,254	86,133	82,354
Total cost of sales	58,620	20,254	86,133	82,354
Gross profit	155,491	37,203	130,384	145,356
Operating Expenses
Research and development	6,037	11,561	32,221	283,869
Sales and marketing	1,038	19,350	65,451	130,475
General and administrative	(72,657)	245,174	460,233	803,103
Total operating expenses	(65,582)	276,085	557,905	1,217,447
Income (loss) from operations	221,073	(238,882)	(427,521)	(1,072,091)
Other income (expense)
Interest expense, net	(215,591)	(16,049)	(688,850)	(32,751)
Change in fair value of derivative liability	(1,403,760)	625,074	(1,314,958)	1,817,014
Change in fair value of warrant liability	913,261	1,091,663	4,332,366	1,091,663
Derivative expense	(163,033)		(181,125)	(281,515)
Loss on settlement of debt		(4,500)
Gain (loss) on extinguishment of debt	(17,712)		(37,247)
Loss on impairment of assets	(173,855)		(173,855)	4,581
Gain (loss) on settlement of vendor liability	269,518	(5,235,869)	160,306	(5,235,869)
Total Other income (expense)	(791,172)	(3,539,681)	2,096,637	(2,636,877)
Income (Loss) before provision for income taxes	(570,099)	(3,778,563)	1,669,116	(3,708,968)
Provision for income taxes
Net income (loss)	(570,099)	(3,708,968)	1,669,116	(3,708,968)
Dividends	(10,700)		(32,100)
Net income (loss) attributable to common shareholders	$ (580,799)	$ (3,778,563)	$ 1,637,016	$ (3,708,968)
Loss per share
Basic	$ (0.00)	$ (0.00)	$ 0.00	$ (0.00)
Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average common shares outstanding - basic	4,709,633,820	3,873,380,471	4,151,099,739	2,931,417,714
Weighted average common shares outstanding - diluted	4,709,633,820	3,873,380,471	4,151,099,739	2,931,417,714

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ 1,669,116	$ (3,708,968)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	17,992	33,726
Change in fair value of derivative liability	1,314,958	(1,817,014)
Change in fair value of warrant liability	(4,332,366)	(1,091,663)
Principal Increase Upon Default	38,900
Derivative expense	181,125	281,515
(Gain) / Loss on settlement of vendor liabilities	(160,306)	5,235,869
Stock based compensation	(23,795)	360,846
Gain / (Loss) on extinguishment of debt	49,718	(4,581)
Loss on impairment of assets	173,854
Interest expense related to amortization of debt issuance costs and debt discount	505,370	3,605
Changes in assets and liabilities:
Inventory	(44,415)	31,786
Prepaid expenses and other assets	10,000	25,204
Tooling in process		(173,854)
Accounts payable and accrued liabilities	192,571	554,344
Customer deposits	11,257	20,756
Net cash used in operating activities	(396,021)	(248,429)
Cash flows from financing activities
Proceeds from due to related party		105,000
Proceeds from the issuance of convertible notes payable,		55,000
Net of issuance costs	494,000
Repayment of convertible notes	(25,000)
Repayments on asset based loans
Net cash provided by financing activities	469,000	160,000
Net change in cash	72,979	(88,429)
Cash, beginning of period	102,698	119,028
Cash, end of period	175,677	30,599
Supplemental cash flow information:
Interest paid
Taxes paid
Supplemental disclosure of non-cash investing and financing activities:
Settlement of debt with convertible note	307,200	60,000
Stock issued for settlement of vendor liabilities	270,000	640,875
Conversion of debt	592,212
Conversion of convertible preferred stock to common stock		3,604,300
Reclassification of warrant liability to additional paid-in capital upon Exercise of warrant	$ 845,883

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash	$ 175,677	$ 102,698
Inventory	158,446	114,031
Total current assets	334,123	216,729
Tooling in process		173,854
Property and equipment, net	8,756	26,748
Other assets	8,983	18,983
Total assets	351,861	436,314
Current liabilities:
Accounts payable	1,019,084	1,101,853
Customer deposits	80,587	69,330
Accrued liabilities	677,718	692,071
Current portion of leases payable	2,756	2,756
Due to related party	1,075	1,075
Convertible notes payable, current, net of debt discount	695,952	436,177
Derivative liability	2,947,927	1,222,186
Preferred shares liability	2,850,401	2,850,401
Warrant liability	906,112	6,267,426
Total current liabilities	9,181,612	12,643,275
Total liabilities	9,181,612	12,643,275
Redeemable Series B Preferred stock, $0.001 par value; 10,000,000 shares authorized 107,000 and 107,000 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively	2,033,000	2,033,000
Stockholders' deficit:
Series A Preferred stock, $0.001 par value; 51 shares authorized 51 and 51 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively
Common stock, $0.001 par value, 10,000,000,000 shares authorized; 4,814,093,774 and 3,905,200,946 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively	4,814,093	3,905,201
Additional paid-in capital	22,619,271	21,820,069
Accumulated deficit	(38,296,114)	(39,965,231)
Total stockholders' deficit	(10,862,751)	(14,239,961)
Total liabilities and stockholders' deficit	$ 351,861	$ 436,314