v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 0 $ 45,854
Restricted cash 763,110 239,124
Accounts receivable, net of allowance for bad debt of $5,665,031 and $0, respectively 70,257 49,998
Accounts receivables from fines and fees from merchant, net of allowance for bad debt of $6,665,031 and $0, respectively. 2,776,687 0
Cash due from gateways, net 8,426,844 630,699
Prepaid and other current assets 42,062 37,232
Total current assets 12,078,960 1,002,907
Non-current Assets:    
Property and equipment, net 66,491 30,715
Operating lease right-of-use assets, net 229,639 0
Total non-current assets 296,130 30,715
Total assets 12,375,090 1,033,622
Current Liabilities:    
Accounts payable 504,505 127,029
Other current liabilities 15,100 9,401
Accrued interest 368,071 29,871
Payment processing liabilities, net 14,021,892 865,086
Short-term notes payable, net of debt discount of $32,418 and $0, respectively 741,253 0
Convertible debt 807,500 846,500
Derivative liability 1,050,063 0
Current portion of operating lease liabilities 113,935 0
Total current liabilities 17,622,319 1,877,887
Operating lease liabilities, less current portion 120,110 0
Long-term debt 0 75,000
Total liabilities 17,742,429 1,952,887
Commitments and contingencies
Stockholders' Deficit:    
Common stock, par value $0.001, 495,000,000 shares authorized, shares issued and outstanding of 169,862,933 and 166,390,363, respectively 169,863 166,390
Common stock - issuable 695 1,000
Additional paid-in capital 1,179,272 945,940
Accumulated deficit (6,717,169) (2,032,595)
Total stockholders' deficit (5,367,339) (919,265)
Total liabilities and stockholder's deficit $ 12,375,090 $ 1,033,622