UNITED SPIRITS, INC. (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

UNITED SPIRITS, INC. (Tables)

Schedule of financial information of Iconic

Balance Sheets:	March 31, 2020			December 31, 2019
Cash and cash equivalents	$	647,742		$	130,454
Intercompany receivable from Iconic (A)		-			56,495
Right-of-use asset		42,794			54,955
Total assets	$	690,536		$	241,904
Accounts payable and accrued expense	$	190,321		$	187,658
Loans payable to officer and affiliated entity		72,692			88,077
Intercompany payable to Iconic (A)		3,200			-
Intercompany payable to Bellissima (A)		794,156			317,722
Intercompany payable to BiVi (A)		66,876			66,876
Operating lease liability		42,794			54,955
Total Liabilities		1,170,039			715,288
Noncontrolling interest in VIE		(479,503	)		(473,384	)
Total liabilities and stockholders’ deficiency	$	690,536		$	241,904

	Three months ended March 31,
Statements of operations:	2020			2019
Intercompany distribution income (A)	$	3,125		$	2,075
Royalty expense		-			63,750
Officers’ compensation		-			82,000
Other operating expenses – net		9,245			9,028
Total operating expenses		9,245			154,778
Net income (loss)	$	(6,120	)	$	(152,703	)

Balance Sheets:	December 31, 2019			December 31, 2018
Cash and cash equivalents	$	130,454		$	38,793
Intercompany receivable from Iconic (A)		56,495			204,461
Right-of-use asset		54,955			-
Total assets	$	241,904		$	243,254
Accounts payable and accrued expense	$	187,658		$	11,338
Loans payable to officer and affiliated entity		88,077			71,037
Intercompany payable to Bellissima (A)		317,722			335,257
Intercompany payable to BiVi (A)		66,876			56,855
Operating lease liability		54,955			-
Total Liabilities		715,288			474,487
Noncontrolling interest in VIE		(473,384	)		(231,333	)
Total liabilities and stockholders’ deficiency	$	241,904		$	243,254
	Year ended December 31,
Statements of operations:	2019			2018
Intercompany distribution income (A)	$	13,418		$	12,242
Royalty expense		127,500			65,000
Officers’ compensation		82,000			30,000
Other operating expenses – net		46,069			8,266
Total operating expenses		255,569			103,266
Net income (loss)	$	(242,151	)	$	(91,024	)
(A) Eliminated in consolidation