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ORGANIZATION AND DESCRIPTION OF BUSINESS (Tables) | 12 Months Ended
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Dec. 31, 2023
ORGANIZATION AND DESCRIPTION OF BUSINESS |
Schedule of Restatement of Balance Sheet |
(In Millions) |  |  |  |  | Restatement |  |  |  |
Balance Sheet |  | As Filed |  |  | Adjustments |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalent |  | $ | 12,182 |  |  | $ | 0 |  |  | $ | 12,182 |
Accounts receivable, net |  | $ | 1,347 |  |  | $ | -926 |  |  | $ | 421 |
Prepaid expenses and other current assets |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Inventory |  | $ | 1,693 |  |  | $ | -647 |  |  | $ | 1,046 |
Other Assets |  | $ | 72 |  |  | $ | 0 |  |  | $ | 72 |
Total current assets |  | $ | 15,294 |  |  | $ | -1575 |  |  | $ | 13,721 |
PP&E |  | $ | 1,091 |  |  | $ | 0 |  |  | $ | 1,091 |
Intangible Assets Net |  | $ | 2,939 |  |  | $ | 0 |  |  | $ | 2,939 |
Operating Lease Right of Use Asset |  | $ | 832 |  |  | $ | 0 |  |  | $ | 832 |
Total assets |  | $ | 20,156 |  |  | $ | -1575 |  |  | $ | 18,583 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 190 |  |  | $ | 0 |  |  | $ | 190 |
Deferred revenue |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Current Portion of Operating Lease |  | $ | 345 |  |  | $ | 0 |  |  | $ | 345 |
Accrued expenses |  | $ | 351 |  |  | $ | 78 |  |  | $ | 429 |
Total current liabilities |  | $ | 886 |  |  | $ | 78 |  |  | $ | 964 |
Long Term Liabilities |  | $ |  |  |  | $ |  |  |  | $ | 0 |
Lease Liability less current |  | $ | 488 |  |  | $ | 0 |  |  | $ | 488 |
Total Long Term liabilities |  | $ | 488 |  |  | $ | 0 |  |  | $ | 488 |
Total Liabilitiy |  | $ | 1,374 |  |  | $ | 78 |  |  | $ | 1,452 |
Stockholders’ Equity |  | $ |  |  |  |  |  |  |  |  | 0 |
Preferred Stock |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Common Stock |  | $ | 78 |  |  | $ | 0 |  |  | $ | 78 |
Shares to be issued |  | $ | 829 |  |  | $ | 0 |  |  | $ | 829 |
Additional paid-in capital |  | $ | 18,141 |  |  | $ | 0 |  |  | $ | 18,141 |
Retained Earnings |  | $ | -720 |  |  | $ | -1,197 |  |  | $ | -1,917 |
Total stockholders’ equity |  | $ | 18,328 |  |  | $ | -360 |  |  | $ | 17,131 |
Total liabilities and stockholders’ equity |  | $ | 19,702 |  |  | $ | -282 |  |  | $ | 18,583 |
Schedule of Restatement of Statement of operations |
|  |  |  |  | Restatement |  |  |  |
(In Millions) |  | As Filed |  |  | Adjustments |  |  | As Restated |
Statement of operations |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 4,955 |  |  | $ | -1,061 |  |  | $ | 3,894 |
Other income |  | $ |  |  |  | $ | 7 |  |  | $ | 7 |
Cost of Sales |  | $ | 2,088 |  |  | $ | -134 |  |  | $ | 1,954 |
Gross Profit |  | $ | 2,867 |  |  | $ | -920 |  |  | $ | 1,947 |
Operating Expenses: |  | $ |  |  |  | $ |  |  |  | $ |  |
Sales & Marketing |  | $ | 1,678 |  |  | $ | 0 |  |  | $ | 1,678 |
General & Administrative |  | $ | 1,823 |  |  | $ | -929 |  |  | $ | 894 |
Depreciation & Amortization |  | $ | 345 |  |  | $ | 94 |  |  | $ | 438 |
Payroll Expenses |  | $ | 811 |  |  | $ | 78 |  |  | $ | 889 |
Total other Income Expense |  | $ | 18 |  |  | $ |  |  |  | $ | 18 |
Research & Development |  | $ | 100 |  |  | $ |  |  |  | $ | 100 |
Total Operating Expenses |  | $ | 4,775 |  |  | $ | -757 |  |  | $ | 4,017 |
Operating Income (Loss) |  | $ | -1,908 |  |  | $ | -163 |  |  | $ | -2,070 |
Interest Expense |  | $ | -25 |  |  | $ | 0 |  |  | $ | -25 |
Income (Loss) Before Tax |  | $ | -1,933 |  |  | $ | -163 |  |  | $ | -2,095 |
Onter income |  | $ | 7 |  |  | $ | -7 |  |  | $ | 0 |
Net Income (Loss) |  | $ | -1,926 |  |  | $ | -170 |  |  | $ | -2,095 |
Income (Loss) per Share |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | -0.18 |  |  | $ | -0.17 |  |  | $ | -0.37 |
Diluted |  | $ | -0.18 |  |  | $ | -0.09 |  |  | $ | -0.37 |
Schedule of Restatement of Statement of cash flows |
|  |  |  |  | Restatement |  |  |  |
(In Millions) |  | As Filed |  |  | Adjustments |  |  | As Restated |
Statement of cash flows |  |  |  |  |  |  |  |  |
OPERATING ACTIVITIES |  | $ | -997 |  |  | $ | -1,097 |  |  | $ | -2,094 |
Net Income (Loss) |  | $ |  |  |  | $ | 0 |  |  |  | 0 |
Adjustments to Reconcile Net Income (Loss) to Net Cash Flow from Operating Activities: |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Shares to be issued as consideration for services |  | $ | 0 |  |  | $ | 829 |  |  |  | 829 |
Depreciation & Amortization |  | $ | 345 |  |  | $ | 93 |  |  |  | 438 |
Lease liability - less current |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Operating lease right-of-use |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Net Change, Right-of-Use Asset & Liabilities |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Change in Operating Assets & Liabilities: |  | $ |  |  |  | $ | 0 |  |  |  | 0 |
Accounts Receivable |  | $ | 1,263 |  |  | $ | -1,574 |  |  |  | -311 |
Inventory |  | $ | 97 |  |  | $ | 648 |  |  |  | 745 |
Prepaids & Other Current Assets |  | $ | 77 |  |  | $ | -132 |  |  |  | -55 |
Stock Account |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Accounts Payable |  | $ | 77 |  |  | $ | 8 |  |  |  | 85 |
Accrued Expenses |  | $ | 1,181 |  |  | $ | -790 |  |  |  | 391 |
21030 Deferred Revenue |  | $ | 0 |  |  | $ | -92 |  |  |  | -92 |
24240 Lease liability Current Portion |  | $ | 0 |  |  | $ | 173 |  |  |  | 173 |
Net Cash From (Used In) Operating Activities |  | $ | -737 |  |  | $ | 673 |  |  |  | -64 |
INVESTING ACTIVITIES |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Purchase of Equipment |  | $ | 0 |  |  | $ | -689 |  |  |  | -689 |
Leashold improvments |  | $ | -17 |  |  | $ | 17 |  |  |  | 0 |
Affiliate companies |  | $ | 0 |  |  | $ | -4 |  |  |  | -4 |
Purchase of R&D Equipment |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Demonstration Equipment |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Purchase of Intangible Assets |  | $ | -1 |  |  | $ | 1 |  |  |  | 0 |
Net Cash From (Used In) Investing Activities |  | $ | -46 |  |  | $ | -647 |  |  |  | -693 |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from (Repayment of) Notes |  | $ | -262 |  |  | $ | 0 |  |  |  | -262 |
Proceeds from (Repayment of) PPP Loan |  | $ | -317 |  |  | $ | 0 |  |  |  | -317 |
Dividends Paid |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Proceeds from Sale of Common Stock |  | $ | 12,927 |  |  | $ | -30 |  |  |  | 12,897 |
Net Cash From (Used In) Financing Activities |  | $ | 12,348 |  |  | $ | -782 |  |  |  | 11,566 |
Net Cash Flow for Period |  | $ | 11,566 |  |  | $ | 0 |  |  |  | 11,566 |
Cash - Beginning of Period |  | $ | 616 |  |  | $ | 0 |  |  |  | 616 |
Cash - End of Period |  | $ | 12,182 |  |  | $ | 0 |  |  |  | 12,182 |
NON-CASH INVESTING AND FINANCING ACTIVITIES |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Shares issued on conversion of debt |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Shares issued as consideration for services |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Share issued for purchase of license |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
SUPPLEMENTARY CASH FLOW INFORMATION |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Cash Received / Paid During the Period for: |  | $ | 0 |  |  | $ | 0 |  |  |  | 0 |
Income Taxes |  | $ | 0 |  |  | $ | -109 |  |  |  | -109 |
Interest |  | $ | 0 |  |  | $ | -24 |  |  |  | -24 |

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