v3.4.0.3
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets    
Cash $ 1,929,832 $ 3,829
Accounts receivable, net of doubtful accounts 311,763 $ 24,538
Deposits, current 400,000
Inventories, net 635,482 $ 219,416
Due from affiliates 180,865
Deferred financing costs 3,537,257
Loans receivable 160,500
Prepaid expenses and other assets 28,558 $ 32,407
Total current assets 7,184,257 280,190
Other Assets    
Intangible assets, net 224,589 589,044
Fixed assets, net $ 23,333 2,724
Notes receivable 25,979
Other receivables $ 1,192
Minority investment in subsidiary $ 3,360,355
Costs in excess of billings 9,107
Deposits 69,730
Total other assets 3,687,113 $ 618,939
TOTAL ASSETS 10,871,370 899,129
Current Liabilities:    
Accounts payable 1,866,785 554,475
Accrued expenses 1,454,020 $ 619,658
Income tax payable 151,020
Accrued interest 820,654 $ 116,669
Accrued interest – related parties 378,267
Notes payable, net 354,981 $ 491,347
Notes payable – related party 310,100  
Current portion of convertible notes, net $ 3,730,000 756,982
Current portion of convertible notes, net – related party $ 150,000
Current portion of convertible debentures, net $ 2,366,426
Current portion of convertible debentures, net – related party 1,652,270
Derivative liability [1] 11,185,625 $ 3,212,200
Contingent liability 41,000 $ 101,000
Amounts due to minority shareholders 158,284
Total current liabilities 24,469,432 $ 6,002,331
Convertible debentures 400,586
Convertible debentures – related parties 325,000
Total long term liabilities 725,586
Total Liabilities 25,195,018 $ 6,002,331
Stockholders’ Equity (Deficit):    
Common Stock: $0.0001 par value, 10,000,000,000 shares authorized; 7,320,754,217 and 2,948,694,586 shares issued and outstanding, respectively 7,320,755 2,948,696
Additional paid in capital 12,472,555 18,791,695
Common stock subscriptions payable 181,074 181,074
Accumulated deficit (29,502,937) (27,026,191)
Bitzio, Inc. stockholders’ equity (deficit) (9,525,937) (5,101,683)
Non-controlling interest (4,798,138) (1,519)
Total stockholders’ equity (deficit) (14,323,648) (5,103,202)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 10,871,370 $ 899,129
Redeemable Preferred Stock Series C [Member]    
Current Liabilities:    
Redeemable preferred stock
Redeemable Preferred Stock Series E [Member]    
Current Liabilities:    
Redeemable preferred stock $ 8,767
Series A Preferred Stock [Member]    
Stockholders’ Equity (Deficit):    
Preferred stock $ 2,043 $ 2,043
Series B Preferred Stock [Member]    
Stockholders’ Equity (Deficit):    
Preferred stock $ 1,000
Series D Preferred Stock [Member]    
Stockholders’ Equity (Deficit):    
Preferred stock
Series E Preferred Stock [Member]    
Stockholders’ Equity (Deficit):    
Preferred stock $ 200
Series F Preferred Stock [Member]    
Stockholders’ Equity (Deficit):    
Preferred stock $ 800
[1] The derivative is calculated using the Black Scholes Pricing Model