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Canbiola, Inc. - Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Service Revenue $ 2,978 $ 1,800 $ 15,735 $ 43,507
Product Sales 160,350 20,298 371,553 22,433
Total Revenues 163,328 22,098 387,288 65,940
Cost of product sales 89,638 10,559 181,077 11,698
Gross profit 73,690 11,539 206,211 54,242
Operating expenses:        
Officers compensation 76,250 19,377 212,500 58,209
Consulting fees [1] 545,017 110,709 1,188,693 182,491
Directors fees [2] 185,400
Advertising expense 25,735 13,802 62,743 35,312
Hosting expense 1,714 2,932 9,192 17,619
Rent expense 17,000 16,265 50,065 48,795
Professional fees 12,159 7,970 82,498 70,706
Depreciation of property and equipment 1,381 807 2,985 2,421
Amortization of intangible assets   993   2,979
Other 61,347 20,642 182,174 81,161
TOTAL OPERATING EXPENSES 740,603 193,497 1,976,250 499,693
Loss from operations (666,913) (181,958) (1,770,039) (445,451)
Other income (expense):        
Interest income 2,560 293 7,584 879
Income (expense) from derivative liability 302,492 305,665 1,146,543 252,010
Loss on stock issuance (2,383,456)   (2,568,560)  
Loss on debt conversion (1,362,785) (32,383) (1,420,523) (32,383)
Interest expense [3] (47,597) (73,514) (118,022) (241,300)
Other income (expense) - net (3,488,786) 200,061 (2,952,978) (20,794)
Loss before provision for income taxes (4,155,699) 18,103 (4,723,017) (466,245)
Provision for income taxes
Net loss and comprehensive income $ (4,155,699) $ 18,103 $ (4,723,017) $ (466,245)
Net loss per common share, basic and diluted $ (0.00) $ (0.00) $ (0.00) $ (0.00)
Weighted average common shares outstanding, basic 273,584,588 164,000,506 246,648,668 156,928,795
Weighted average common shares outstanding, diluted 429,839,381 289,732,512 391,326,919 273,703,025
[1] Including stock-based compensation of $1,019,094, $113,438, $518,317 and $76,209, respectively
[2] Including stock-based compensation of $185,400, $0, $0 and $0, respectively
[3] Including amortization of debt discounts of $93,978, $219,288, $39,813 and $66,183, respectively