Quarterly report pursuant to Section 13 or 15(d)

1. Organization and Going Concern (Tables)

v3.20.2
1. Organization and Going Concern (Tables)
6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of components of liabilities subject to compromise

The following table summarizes the components of liabilities subject to compromise included on the Company’s balance sheets as of June 30, 2020:

 

    June 30, 2020  
Accounts payable and accrued liabilities   $ 78,171  
Unsecured notes payable     7,493  
U.S. Small Business Administration loan payable     68,300  
Derivative liability     874,235  
Convertible notes payable     1,101,166  
Total liabilities subject to compromise   $ 2,129,365  
Summary of components included in reorganization items

The following table summarizes the components included in reorganization items in the Company's statements of operations for the three and six months ended June 30, 2020:

 

    Three and Six Months June 30, 2020  
Reorganization legal and professional fees   $ 10,103  
Deferred loan costs and debt discount expensed     151,338  
Total reorganization costs   $ 161,441