IIOT-OXYS, Inc. Files Q1 2024 10-Q

TL;DR

IIOT-OXYS Q1 10-Q filed. Shows preferred stock details.

AI Summary

IIOT-OXYS, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details the company's financial position, including preferred stock series A, B, and C, as well as common stock and additional paid-in capital as of December 31, 2023, and March 31, 2024. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides investors with an update on IIOT-OXYS, Inc.'s financial health and capital structure for the first quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the nature of preferred stock and its implications for common shareholders can introduce complexity and risk.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Marks the end of the financial quarter being reported.)
• 2024-07-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)

Key Players & Entities

• IIOT-OXYS, Inc. (company) — Filer of the 10-Q report
• 20240331 (date) — End of the reporting period
• 20240712 (date) — Filing date
• 705 CAMBRIDGE ST. (address) — Company's business and mailing address
• NV (state) — State of incorporation

FAQ

Key Financial Figures

• $100,000 — he CEO will receive an annual salary of $100,000 which accrues unless converted into sha
• $1,000,000 — conversion rate. If the Company reaches $1,000,000 in cumulative sales over a 12-month per
• $150,000 — iod, the annual salary will increase to $150,000 commencing the following month. If the
• $5,000,000 — following month. If the Company reaches $5,000,000 in cumulative sales over a 12-month per
• $200,000 — iod, the annual salary will increase to $200,000 commencing the following month. The Com
• $0.001 — s of common stock at the lowest VWAP of $0.001 per share. The balance of principal and
• $0.00084 — any time into shares of common stock at $0.00084 per share. Interest is payable annually
• $0.0009 — any time into shares of common stock at $0.0009 per share. Note was issued as payment f
• $0.008 — he reduction of the conversion price to $0.008 per share, and all prior Events of Defa
• $20,000 — ny shall issue twenty thousand dollars ($20,000) worth of common shares (the "1 st Ince
• $50,000 — older of Note A fifty thousand dollars ($50,000) worth of common shares (the "2nd Incen

Filing Documents

• iiot_i10q-33124.htm (10-Q) — 757KB
• iiot_ex1001.htm (EX-10.1) — 66KB
• iiot_ex3101.htm (EX-31.1) — 9KB
• iiot_ex3102.htm (EX-31.2) — 9KB
• iiot_ex3201.htm (EX-32.1) — 4KB
• iiot_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-004808.txt ( ) — 4560KB
• itox-20240331.xsd (EX-101.SCH) — 31KB
• itox-20240331_cal.xml (EX-101.CAL) — 41KB
• itox-20240331_def.xml (EX-101.DEF) — 143KB
• itox-20240331_lab.xml (EX-101.LAB) — 288KB
• itox-20240331_pre.xml (EX-101.PRE) — 250KB
• iiot_i10q-33124_htm.xml (XML) — 653KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 32 Introductory Comment Unless otherwise indicated, any reference to "the Company", "our company", "we", "us", or "our" refers to IIOT-OXYS, Inc., a Nevada corporation, and as applicable to its wholly owned subsidiaries, OXYS Corporation, a Nevada corporation, and HereLab, Inc., a Delaware corporation. 2

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements IIOT-OXYS, Inc. and Subsidiaries Condensed Consolidated Balance Sheets March 31, 2024 December 31, 2023 ASSETS (Unaudited) Current Assets Cash and cash equivalents $ 1,405 $ 644 Accounts receivable, net 2,500 5,460 Prepaid expenses and other current assets 2,306 2,306 Total Current Assets 6,211 8,410 Intangible assets, net 186,744 199,085 Total Assets $ 192,955 $ 207,495 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable $ 220,798 $ 219,551 Accrued liabilities 561,589 534,138 Deferred revenue 31,425 31,425 Notes payable – current 380,000 435,000 Shares payable to related parties 15,745 15,225 Salaries payable to related parties 420,179 380,579 Derivative liabilities 657,559 535,653 Total Current Liabilities 2,287,295 2,151,571 Notes payable 13,942 58,988 Due to stockholders 1,000 1,000 Total Liabilities 2,302,237 2,211,559 Commitments and Contingencies (Note 4) – – Series B Convertible Preferred Stock, 600 shares designated, $ 0.001 Par Value, $ 1,200 shares and 454 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively. Liquidation preference $ 619,200 at March 31, 2024 and at December 31, 2023, respectively 619,200 619,200 Series C Convertible Preferred Stock, 5,000 shares designated, $ 0.001 Par Value, $ 1,200 stated value; 57 shares and 0 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively. Liquidation preference $ 68,400 and $ 0 at March 31, 2024 and at December 31, 2023, respectively 68,400 – Stockholders' Equity (Deficit) Preferred Stock, $ 0.001 par value, 10,000,000 Shares authorized – – Series A Preferred Stock, 25,845 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 26 26 Common Stock $ 0.001 Par Value, 3,000,000,000 shares authorized; 555,015,293 shares and 470,015,293

View Full Filing

View this 10-Q filing on SEC EDGAR