IIOT-OXYS, Inc. Files Q2 2024 10-Q Report

TL;DR

IIOT-OXYS filed its Q2 10-Q. Check financials.

AI Summary

IIOT-OXYS, Inc. filed its 10-Q report for the period ending June 30, 2024. The company, formerly known as Gotham Capital Holdings, Inc. and Creative Beauty Supply of New Jersey CORP, is incorporated in Nevada and operates in the prepackaged software industry. Its principal executive offices are located at 705 Cambridge St., Cambridge, MA.

Why It Matters

This filing provides investors with an update on IIOT-OXYS, Inc.'s financial performance and operational status for the second quarter of 2024, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's history of name changes and its industry classification suggest potential volatility or restructuring.

Key Numbers

• 20240630 — Report Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240819 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• IIOT-OXYS, Inc. (company) — Filer of the 10-Q report
• Gotham Capital Holdings, Inc. (company) — Former name of IIOT-OXYS, Inc.
• Creative Beauty Supply of New Jersey CORP (company) — Former name of IIOT-OXYS, Inc.
• 705 CAMBRIDGE ST. (location) — Business and mailing address
• CAMBRIDGE (location) — City of business and mailing address
• MA (location) — State of business and mailing address
• 02141 (location) — ZIP code of business and mailing address

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

Filing Documents

• iiot_i10q-063024.htm (10-Q) — 876KB
• iiot_ex3101.htm (EX-31.1) — 9KB
• iiot_ex3102.htm (EX-31.2) — 9KB
• iiot_ex3201.htm (EX-32.1) — 3KB
• iiot_ex3202.htm (EX-32.2) — 3KB
• 0001683168-24-005899.txt ( ) — 4787KB
• itox-20240630.xsd (EX-101.SCH) — 31KB
• itox-20240630_cal.xml (EX-101.CAL) — 43KB
• itox-20240630_def.xml (EX-101.DEF) — 143KB
• itox-20240630_lab.xml (EX-101.LAB) — 289KB
• itox-20240630_pre.xml (EX-101.PRE) — 250KB
• iiot_i10q-063024_htm.xml (XML) — 734KB

—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 25

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 29

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 30

—OTHER INFORMATION

PART II—OTHER INFORMATION 31

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 31

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 31

EXHIBITS

ITEM 6. EXHIBITS 31

SIGNATURES

SIGNATURES 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 June 30, 2024 December 31, 2023 ASSETS (Unaudited) Current Assets Cash and cash equivalents $ 8,262 $ 644 Accounts receivable, net – 5,460 Prepaid expenses and other current assets 2,306 2,306 Total Current Assets 10,568 8,410 Intangible assets, net 174,403 199,085 Total Assets $ 184,971 $ 207,495 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable $ 261,488 $ 219,551 Accrued liabilities 604,868 534,138 Deferred revenue 31,425 31,425 Notes payable - current 393,942 435,000 Shares payable to related parties 16,373 15,225 Salaries payable to related parties 447,550 380,579 Derivative liabilities 942,770 535,653 Total Current Liabilities 2,698,416 2,151,571 Notes payable – 58,988 Due to stockholders 1,000 1,000 Total Liabilities 2,699,416 2,211,559 Commitments and Contingencies (Note 4) – – Series B Convertible Preferred Stock, 600 shares designated, $ 0.001 Par Value, $ 1,200 stated value; 536 shares and 516 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. Liquidation preference $ 643,200 and $ 619,200 at June 30, 2024 and December 31, 2023, respectively 643,200 619,200 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 June 30, 2024 and December 31, 2023, respectively. Liquidation preference $ 68,400 and $ 0 at June 30, 2024 and 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 June 30, 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 shares issued

financial statements

financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The disclosures requirements included in ASU 2023-07 are required for all public entities, including those with a single reportable segment. ASU 2023-07 is effective for annual periods beginning after December 15, 2024, on a retrospective basis, and early adoption is permitted. The Company is currently evaluating the potential impact of ASU 2023-07 on its consolidated financial statements. NOTE 3 – INTANGIBLE ASSETS The Company's intangible assets comprise of intellectual property revolving around their field tests, sensor integrations, and board designs. Intangible assets, net of amortization amounted to $ 174,403 and $ 199,085 at June 30, 2024 and December 31, 2023, respectively. Schedule of intangible assets June 30, 2024 December 31, 2023 Intangible Assets $ 495,000 $ 495,000 Accumulated amortization ( 320,597 ) ( 295,915 ) Intangible Assets, net $ 174,403 $ 199,085 The Company determined that none of its intangible assets were impaired as of June 30, 2024 and December 31, 2023, respectively. Amortizable intangible assets are amortized using the straight-line method over their estimated useful lives of ten years. The amortization expense of finite-lived intangibles was $ 12,341 and $ 24,682 for the three months and six months ended June 30, 2024 compared to $ 12,341 and $ 24,547 for the three months and six months ended June 30, 2023, respectively. The following table summarizes the Company's estimated future amortization expense of intangible assets with finite lives as of June 30, 2024: Schedule of estimated future amortization expense of intangible assets Amortization Expense 2024 (Remainder of the year) $ 24,818 2

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View this 10-Q filing on SEC EDGAR