Kisses From Italy Inc. Files Q2 2024 10-Q

TL;DR

Kisses From Italy Inc. 10-Q filed for Q2 2024, showing preferred and common stock details.

AI Summary

Kisses From Italy Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial position and operations, including its preferred stock series A, B, and C, and common stock. The company is incorporated in Florida and operates in the retail-eating & drinking places sector.

Why It Matters

This filing provides investors with an update on Kisses From Italy Inc.'s financial health and operational status for the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — The provided text is a standard SEC filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high risk.

Key Numbers

• Q2 2024 — Reporting Period (The filing covers the second quarter of 2024.)
• 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

• Kisses From Italy Inc. (company) — Filer of the 10-Q
• 0001608092 (company) — Central Index Key for Kisses From Italy Inc.
• FL (location) — State of Incorporation
• 20240630 (date) — Conformed Period of Report
• 20240819 (date) — Filed as of Date

FAQ

Filing Documents

• kisses_i10q-063024.htm (10-Q) — 651KB
• kisses_ex3101.htm (EX-31.1) — 10KB
• kisses_ex3102.htm (EX-31.2) — 11KB
• kisses_ex3201.htm (EX-32.1) — 4KB
• kisses_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-005907.txt ( ) — 3614KB
• kitl-20240630.xsd (EX-101.SCH) — 31KB
• kitl-20240630_cal.xml (EX-101.CAL) — 39KB
• kitl-20240630_def.xml (EX-101.DEF) — 114KB
• kitl-20240630_lab.xml (EX-101.LAB) — 267KB
• kitl-20240630_pre.xml (EX-101.PRE) — 213KB
• kisses_i10q-063024_htm.xml (XML) — 394KB

FINANCIAL STATEMENTS

PART I FINANCIAL STATEMENTS Item 1.

Financial Statements

Financial Statements 4 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION KISSES FROM ITALY INC. Condensed Consolidated Financial Statements for the Three and Six Months Ended June 30, 2024 Index to the Unaudited Condensed Consolidated

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets at June 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statement of Changes in Stockholders' Deficit for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 7 Notes to the Condensed Consolidated Financial Statements (Unaudited) 8 3

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS. Kisses From Italy Inc. Condensed Consolidated Balance Sheets June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,167 $ 24,842 Accounts receivable 4,105 5,117 Inventory 4,104 11,917 Total current assets 9,376 41,876 Equipment not in service – 40,852 Other Assets 1,092 2,745 Total assets $ 10,468 $ 85,473 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 136,811 $ 114,456 Accrued liabilities 77,727 42,049 Notes payable -related party 352,497 250,000 Convertible notes 407,500 425,000 Total current liabilities 974,535 831,505 Notes payable long term -related party – 102,497 Total liabilities 974,535 934,002 Commitments and contingencies – – Stockholders' Deficit: Preferred stock, Series A $ 0.001 par value. 1,500,000 shares authorized; 0 zero shares issued and outstanding – – Preferred stock, Series B $ 0.001 par value. 5,000,000 shares authorized; 0 zero shares issued and outstanding – – Preferred stock, Series C, $ 0.001 par value 1,000,000 shares authorized; 175,080 shares and 175,080 shares issued and outstanding as of June 30, 2024 and December 31 2023, respectively 175 175 Common stock, $ 0.001 par value, 650,000,000 shares authorized; 372,920,331 and 336,763,187 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 372,920 336,763 Additional paid-in capital 18,262,425 18,392,470 Accumulated deficit ( 19,566,602 ) ( 19,577,936 ) Total Kisses From Italy Stockholders' Deficit ( 931,082 ) ( 848,528 ) Non-controlling interest ( 32,985 ) ( 32,985 ) Total Stockholders' deficit ( 964,067 ) ( 881,513 ) Total liabilities and deficit $ 10,468 $ 85,473 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. 4 Kisses From Italy Inc. Condensed C

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View this 10-Q filing on SEC EDGAR