Condensed Statements of Operations and Comprehensive Loss (Unaudited) – USD ($)
|
3 Months Ended |
| Mar. 31, 2020 |
Mar. 31, 2019 |
| Income Statement [Abstract] |
|
|
| Net revenues |
$ 520,200 |
$ 15,980 |
| Net revenues – related party |
315,800 |
0 |
| Net revenues |
836,000 |
15,980 |
| Cost of sales |
1,042,473 |
12,600 |
| Cost of sales – related party |
357,783 |
0 |
| Total cost of sales |
1,400,256 |
12,600 |
| Gross profit |
(564,256) |
3,380 |
| Operating Expenses: |
|
|
| General and administration |
1,184,006 |
652,209 |
| Selling and marketing expenses |
280,890 |
51,878 |
| Professional and consulting |
727,871 |
1,880,147 |
| Research and development |
0 |
15,000 |
| Total operating expenses |
2,192,767 |
2,599,234 |
| Loss from Operations |
(2,757,023) |
(2,595,854) |
| Other Income (Expenses): |
|
|
| Derivative gain (loss) |
106,486 |
(1,454,729) |
| (Loss) gain on settlement of debt, net |
(6,500) |
3,007,629 |
| Interest expense |
(288,466) |
(366,913) |
| Total Other Income (Expenses), net |
(188,480) |
1,185,987 |
| Loss Before Provision for Income Taxes |
(2,945,503) |
(1,409,867) |
| Provision for income tax |
0 |
0 |
| Net Loss |
(2,945,503) |
(1,409,867) |
| Net Loss attributable to non-controlling interest |
155,819 |
35,604 |
| Net Loss Attributable to Exactus, Inc. |
(2,789,684) |
(1,374,263) |
| Deemed dividend on Preferred Stock |
0 |
(904,450) |
| Net Loss available to Exactus, Inc. common stockholders |
$ (2,789,684) |
$ (2,278,713) |
| Net Loss per Common Share – Basic and Diluted |
$ (0.07) |
$ (0.07) |
| Net Loss attributable to non-controlling interest per Common Share – Basic and Diluted |
(0.00) |
0 |
| Net Loss available to Exactus, Inc. common stockholders per Common Share – Basic and Diluted |
$ (0.06) |
$ (0.12) |
| Weighted Average Number of Common Shares Outstanding: Basic and Diluted |
45,293,865 |
19,485,557 |
