| Condensed Balance Sheets (Unaudited) – USD ($) |
Mar. 31, 2020 |
Dec. 31, 2019 |
| Current Assets: |
|
|
| Cash and cash equivalents |
$ 9,541 |
$ 18,405 |
| Accounts receivable, net |
273,493 |
55,725 |
| Accounts receivable – related party |
107,660 |
18,860 |
| Inventory |
397,098 |
1,337,809 |
| Prepaid expenses and other current assets – current |
123,760 |
248,776 |
| Prepaid expenses and other current assets – related party – current |
622,159 |
622,160 |
| Due from related parties |
127,500 |
127,500 |
| Total current assets |
1,661,211 |
2,429,235 |
| Other Assets: |
|
|
| Deposits |
40,000 |
80,000 |
| Prepaid expenses and other current assets – long term |
15,959 |
0 |
| Prepaid expesnes and other current assets – related party – long-term |
2,333,523 |
2,492,045 |
| Property and equipment, net |
450,706 |
477,433 |
| Intangible assets, net |
1,901,061 |
2,147,311 |
| Operating lease right-of-use assets, net (see Note 7) |
2,056,366 |
2,173,253 |
| Total other assets |
6,797,615 |
7,370,042 |
| TOTAL ASSETS |
8,458,826 |
9,799,277 |
| Current Liabilities: |
|
|
| Accounts payable |
2,001,201 |
1,442,409 |
| Accounts payable – related party |
454,511 |
454,511 |
| Accrued expenses |
769,159 |
358,010 |
| Unearned revenue -related party |
0 |
215,000 |
| Note payable – related parties |
78,017 |
55,556 |
| Subscription payable |
250,000 |
250,000 |
| Convertible notes, net of discounts |
402,214 |
85,906 |
| Derivative liability |
773,924 |
880,410 |
| Interest payable |
25,682 |
16,677 |
| Due to related party |
85,000 |
0 |
| Operating lease liabilities, current portion |
498,778 |
432,065 |
| Total current liabilities |
5,338,486 |
4,190,544 |
| Long Term Liabilities: |
|
|
| Convertible notes payable |
0 |
100,000 |
| Operating lease liabilities, long-term portion (see Note 7) |
1,646,705 |
1,826,887 |
| Total long term liabilities |
1,646,705 |
1,926,887 |
| TOTAL LIABILITIES |
6,985,191 |
6,117,431 |
| Commitments and contingencies (see note 10) |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
0 |
0 |
| Common stock: 650,000,000 shares authorized; $0.0001 par value, 45,732,002 and 43,819,325 shares issued and outstanding, respectively |
4,574 |
4,382 |
| Common stock to be issued (308,330 and 664,580 shares to be issued, respectively) |
30 |
66 |
| Additional paid-in capital |
26,080,432 |
25,343,293 |
| Accumulated deficit |
(23,919,063) |
(21,129,379) |
| Total Exactus Inc. Stockholders’ Equity (Deficit) |
2,166,923 |
4,219,315 |
| Non-controlling interest in subsidiary |
(693,288) |
(537,469) |
| Total Equity (Deficit) |
1,473,635 |
3,681,846 |
| TOTAL LIABILITIES AND EQUITY (DEFICIT) |
8,458,826 |
9,799,277 |
| Series A Preferred Stock |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
32 |
35 |
| Series B-1 Preferred Stock |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
165 |
165 |
| Series B-2 Preferred Stock |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
752 |
752 |
| Series C Preferred Stock |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
0 |
0 |
| Series D Preferred Stock |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
0 |
0 |
| Series E Preferred Stock |
|
|
| Equity (Deficit): |
|
|
| Preferred stock |
$ 1 |
$ 1 |
