ASSISTED 4 LIVING, INC.

CIK:0001719435|SEC Filings

Condensed Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net Revenue	$ 22,375,092	$ 659,449	$ 29,093,845	$ 1,102,841
Cost of services provided	12,310,011	256,825	15,477,070	409,838
Gross profit	10,065,081	402,624	13,616,775	693,003
Operating expenses
Salaries and payroll expense	5,068,423	320,404	6,671,656	870,191
General and administrative	4,978,559	205,818	6,591,749	454,482
Lease expense	2,991,078	88,691	3,912,133	193,365
Professional fees	1,722,741	70,819	2,707,511	134,829
Marketing and advertising	236,499	4,276	336,984	12,378
Depreciation and amortization expense	159,750	16,744	318,324	24,135
Total operating expenses	15,157,050	706,752	20,538,357	1,689,380
Loss from operations	(5,091,969)	(304,128)	(6,921,582)	(996,377)
Other income (expense)
Loss on disposal of asset		(22,753)		(22,753)
Interest expense	(179,293)	(7,920)	(317,881)	(7,923)
Total other income (expense)	(179,293)	(30,673)	(317,881)	(30,676)
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES AND RESULTS FROM DISCONTINUED OPERATIONS	(5,271,262)	(334,801)	(7,239,463)	(1,027,053)
Income taxes
LOSS FROM CONTINUING OPERATIONS BEFORE DISCONTINUED OPERATIONS	(5,271,262)	(334,801)	(7,239,463)	(1,027,053)
Loss from discontinued operations			(26,500)
Gain on disposal of discontinued operations			395,500
Income from discontinued operations			369,000
Net loss attributable to common shareholders	$ (5,271,262)	$ (334,801)	$ (6,870,463)	$ (1,027,053)
Continuing Operations
Loss per share - basic and diluted - Continuing operations	$ (0.12)	$ (0.08)	$ (0.24)	$ (0.25)
Weighted average number of shares outstanding - basic and diluted	42,783,081	4,221,021	29,984,191	4,064,414
Discontinued operations net income per share
Earnings per share - basic			$ 0.01
Earnings per share - diluted			$ 0.01
Weighted average shares outstanding - basic			29,984,191
Weighted average shares outstanding - diluted			34,705,065
Product and Service, Other [Member]
Net Revenue	$ 21,602,984	$ 654,351	$ 27,581,902	$ 1,088,341
Rental revenue [Member]
Net Revenue	11,275	5,625	22,875	7,500
Other revenue [Member]
Net Revenue	$ 760,833	$ (527)	$ 1,489,068	$ 7,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (6,870,463)	$ (1,027,054)
Adjustments to reconcile net loss to cash used in operating activities:
Net gain from discontinued operations	(369,000)
Depreciation and amortization	318,324
(Increase) decrease in assets
Prepaid expenses and other current assets	(1,824,624)	(2,877)
Deposits and other assets	(2,003,607)
Accounts receivable	435,016	(145,225)
Increase (decrease) in liabilities
Accounts payable and accrued expenses	2,373,538	249,999
Deferred Revenues	1,331,333	55,371
Advance payments	(3,396,502)
Accrued interest	(6,034)
Cash used in operating activities	(10,012,019)	(870,286)
Cash flows from investing activities
Goodwill from acquisition		(3,431,148)
Non-cash operating lease expense	212,326	28,541
Cash and assets from acquisition	3,432,847
Investment in leasehold improvements		(1,852,465)
Purchase of property and equipment	(76,317)	(61,083)
Cash used in investing activities	3,568,856	(5,316,155)
Cash flows from financing activities
Repayment of principal on notes payable	(776,207)
Proceeds from the sale of common stock	575,000
Proceeds from notes payable	5,212,234	2,664,234
Repayment on loans payable	(18,810)
Warrants to be issued		342,000
Proceeds from the issuance of registered shares	4,999,500	328
Cash provided by financing activities	9,991,717	3,006,562
Net increase (decrease) in cash	3,548,554	(3,179,879)
Cash, beginning of year	345,982	4,044,700
Cash, end of period	3,894,536	864,821
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS
Interest Paid	275,831
Taxes Paid
NON-CASH ITEMS
Liability to issue shares for acquisition	9,750,000
Goodwill from acquisition	12,082,529
Recognition of lease liability and right of use asset at inception	46,089,030	3,976,562
Conversion of notes payable and accrued interest for common stock	$ 2,000,000	$ 500,000

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash	$ 3,894,536	$ 345,982
Accounts receivable, net	7,490,091	97,073
Prepaid expenses and other current assets	3,747,240	207,592
Total current assets	15,131,867	650,647
Operating Lease right-of-use assets	46,089,030	3,977,988
Goodwill	15,513,677	3,431,148
Leasehold improvements, net	3,766,330	2,614,391
Property and equipment, net	2,680,115	128,475
Other assets	2,950,265
Total assets	86,131,284	10,802,649
Current liabilities:
Accounts payable and accrued expenses	10,879,082	148,180
Notes payable	7,041,759	2,385,010
Accrued interest, Including related party	42,567	48,601
Loans Payable - other	498,140	63,907
Operating Lease obligations - current portion	8,311,905	189,397
Advanced payments	1,671,698
Deferred Revenue	596,227
Deferred HHS Revenue	778,408	25,703
Liability to issue shares	5,000,000
Due to Seller for acquisition	902,847
Total current liabilities	35,722,633	2,860,798
Operating Lease obligations - net of current portion	38,089,042	3,864,321
Liability to issue shares - long term	4,750,000
Notes payable, net of current portion	265,117	322,490
Total liabilities	78,826,792	7,047,609
Stockholders’ equity:
Common stock, par value $0.0001; 100,000,000 shares authorized, 45,345,418, and 4,165,418 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	4,535	417
Additional paid-in capital	17,876,115	7,460,348
Subscription receivable		(30)
Accumulated deficit	(10,576,158)	(3,705,695)
Total stockholders’ equity	7,304,492	3,755,040
Total liabilities and stockholders’ equity	$ 86,131,284	$ 10,802,649